Final Rehab payment just made!

[BigBS]

Good luck to you!

[Whitneyy]

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@Anonymous wrote:

Ok, so all the bureaus have now updated.

Equifax deleted all of the old negative trade lines and added 1 new one that shows current, pays as agreed. My score went from 637 to 649.

Experian deleted all of the old negative trade lines and added 1 new one that shows current, pays as agreed. My score went from 653 to 675.

Transunion deleted all of the old negative trade lines and added 1 new one that shows current, pays as agreed My score went from 565 to 665.

Equifax had always been my highest score, so I guess that took the smallest jump, while Transunion was my worst and took the largest. All of the scores were from MyFico, so the Equifax should be accurate, and based on what others are saying, the Experian should be good as well.

I am having my LO pull a new report and start the underwriting process this morning

Keep your fingers crossed for me.

Michael.

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I can't get my two negative tradelines deleted! They even posted the NEW ones back dated them as NEVER late, but still showing the OLD. What did you do? Or did it do it on it's own? I've been done with my rehab since August and then my loans got picked up in October and I'm current.

[Anonymous]

From what I understand, its not a requirement for them to delete the negative information, expect for the default status. Have you tried disputing it? 

Update! Performant sent the letter to PHEEA yesterday, to let them know we completed the rehab. They told me it would be 30-45 days before we would receive the "Congrats you completed the rehab program" letter. I woke up this morning to that letter in our email!!! FINALLY!!!! I was pretty impressed! The PHEAA rep said they report to credit agency's on the second Saturday of the month and that is this weekend. It would be awesome if we made this cut! I will keep everyone updated on what we see on the credit reports. 

[Whitneyy]

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@Anonymous wrote:

From what I understand, its not a requirement for them to delete the negative information, expect for the default status. Have you tried disputing it? 

Update! Performant sent the letter to PHEEA yesterday, to let them know we completed the rehab. They told me it would be 30-45 days before we would receive the "Congrats you completed the rehab program" letter. I woke up this morning to that letter in our email!!! FINALLY!!!! I was pretty impressed! The PHEAA rep said they report to credit agency's on the second Saturday of the month and that is this weekend. It would be awesome if we made this cut! I will keep everyone updated on what we see on the credit reports. 

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All my negatives are gone,  

[Anonymous]

This is great to read, congrats!  My final payment is tomorrow, and I hope that everything goes smoothly from here on out. 

[Anonymous]

Does anyone know how quickly the dept of education updates the default information on the nsld website? And does that system update the federal database that mortgage lenders run for gov't backed loans?

[Anonymous]

I am starting to see updates to Experian credit report, but I went ahead and disputed the other TL and credit bureaus to see if it updates quicker. I have a question that I had not thought of before. His student loans were in default with Mohela and sent to AES/PHEAA and then to Performant for collections. Performant is who we did the rehab with and AES was who took over the loan after he completed the rehab. When we called AES/PHEAA during the rehab process, we would automatically be transferred to the default section who would then tell us to talk to Performant. My question is this, Mohela's default comments have to be removed also right? Its all the same loan just sent to several loan companies and never paid over a LONG period of time resulting in several defaults. When I look at the NSLDS website, it shows Mohela AND AES/PHEAA as loan people on the defaulted loan. So is MOHELA also required to remove the comments? 

[SCF]

Yes, all the default comments should come off the original tradelines for the loans that were rehabilitated.  If you had any other loans that weren't included in the rehab with Mohela (or another servicer), they would not have to change any of the reporting on those loans.  I would reccomend contacting Mohela with the paperwork stating your rehab is complete, that should give them the information they need to update the loans.

[Anonymous]

The NSLD website has been updated as of April 21, 2014. PHEAA/AES has removed all TL. AES hasnt added the new one yet and MOHELA hasnt removed the default comment yet. The disputes will close out on May 15th, but I am hoping it updates before that. I dont even care about the late payments going away, although it would be nice. I just want the default comments to go away. 

[Anonymous]

Unfortunately it appears we will be one of the few unlucky ones that only get the default comments removed and not the late payments. I have spoken to MOHELA and had issues getting them to remove the default status. I finally got in contact with a supervisor and they got the default status removed, however they made it very clear that the late payments will remain. The default was the main thing we needed in order to get approved for our home, so I will take what I can get. From here on out it will definitely be paid on time. Once I get the FICO updates, I will let everyone know what our scores look like now. I have been using USAA credit monitoring and I see a pretty big jump, but its not FICO. If anyone has any advice to get the negatives deleted, I would love to try it!