Help with Bad Payment History on Loan?

[Anonymous]

I have a mortgage loan on land that only reports on my TransUnion and Experian report. For some reason they avoided reporting to Equifax. I have never missed a payment on any other active account. I didn't monitor the people I trusted to make on time payments. Now, I am in a situation where I have a total of 9 late payments. 8 payments that were 30-59 days late and 1 payment that was 60-89 days late. I took control of payments and remained on time since November 2017.

The 30-59 days late payments happened in July 2016, Jan 2017, March - May 2017, July 2017, and then Sept-Oct 2017.

The 60-89 days late payment happened June of 2017.

Clearly 2017 was the worst year for payment history. I tried calling the lender sometime late last year to see what I can do to have any forgiveness. No dice. This has the biggest impact to my TU/EX scores.

I have a long way before any missed payments fall off.

What would be the best thing for me to do at this point? I like my EQ being fairly high but I would like to see improvement on my other scores relating to payment history. For payment history on all accounts, EQ says 100% and TU/EX show 97%.

Loan Details:

Opened - 04.17.2012

Original balance - 15,920

Current balance - 7,595

Term: 180mo

APR: 5.37%

Type: Conventional

% of on time payments - 81%

I thought about refinancing with another lender, but I am not sure if that would be best. Given I have 8/24 inqs and the AoYA is <1mo. The last HP for me was in March, I did 3 for new accounts on March 24, 2020. And a SP on April 2, 2020 for the BB&T Bright Card.

Any suggestions?

??

[Anonymous]

Not a lot you can do except for wait. Beside the Goodwill saturation technique which you’ve already began to try, you said no dice.

But the good news is 30 and 60 day delinquencies give points at two years, so you will see some score improvement soon but then you’re gonna have to wait another five years for it to drop off to get the rest of your points back.

And unfortunately that one 60 day late put you in a dirty scorecard. Your mortgage scores may change back to a clean card when the 60 day late becomes two years old, but on score 8 you’ll be in a dirty card until the 60 day is gone.

[Anonymous]

Btw, AOYRA a is irrelevant in a dirty card. As long as you’re in it there’s no new account penalty and you don’t get points back when the youngest turns 12 months.

It’s not gonna help your score, but if it makes financial sense to you it may be worth doing.