Incorrect Equifax Mortgage reporting

[krielly]

Obtained my free annual credit report from Equifax yesterday. I have a few items to clear up, but the biggie from what I can see is my mortgage.

We filed Chap 13 BK back in 2005. After repeated attempts, I finally convinced Wells Fargo to report our on time payments (we are paying our mortgage outside of the plan).

Equifax is showing that I have NO mortgage account (with my mix of accounts). The reason is that they are reporting this account as closed. I have no idea why this is reporting this way. It clearly has a balance, no past dues, and shows recorded on time payments since the mortgage originated in 2004. There is also no entry under "date closed".

We have never been late once on our mortgage. I would think that getting Equifax to correct this to "open" would help in many ways - it will show another type of debt (in addition to two vehicle payments and an RV payment and a couple of Credit card accounts). I believe it would also help our AAOA, right? Also, there would be the history of on time payments since 2004.

If I get this corrected, how much of an increase in score do you think I would receive? The current score with the incorrect reporting is 656. Any ideas on what kind of any increase I might get? Also, I tried to do the on-line dispute, but the Experian site is saying it is unable to do this "at this time". Interestingly enough, I remember running into the same problem almost a year ago!!

Thanks for any and all input!

K

[llecs]

If the mortgage is reporting a balance on EQ, then it is still being factored into your mix of credit, despite reporting as closed. Once the balance reaches $0, then it is removed from your mix.

All OC accounts, open or closed, so as long as they report, continue to factor into AAoA.

If the lender changed it to "open", you wouldn't see any FICO score change.

[krielly]

Well, when I review Equifax's "Credit Summary", under Accounts it lists the different accounts, and show number of Mortgage Accounts "0", with a "0" balance.

Also, under "Debt by Account Type", and Debt to Credit Ratio by Account", Mortgage is 0%. This is why I beleive this account is not being factored in........