Unrated Pay Status on My Credit Report

[agwood75]

I have a negative mark on my credit report for a home that I owned, that went into foreclosure, and was sold at auction for less than the amount that owed on the home. When I checked my credit report last month I noticed that it said Pay Status: Charge off, and the remarks said "Amount charged off. $140,000 written off" I disputed this because the amount charged off was wrong and the start date for the foreclosure/write off was incorrect. My credit report now says "Pay Status: Unrated" and under the remarks it says "Unpaid balance charged off" with no amount listed. It is shown under the potentially negative category on my report. I know the difference between charge off, written off, short sale and foreclosure, but what does the pay status unrated mean? I was told that unrated did not effect your credit score but is still noted on your report. Does anyone know exactly what this means, and does it have a negative effect on my ability to get a home loan in the future? Would a loan officer will see the charge off note and take exception to it, even if it may not reflect on my credit score?

[llecs]

IIRC, "Unrated" is a FICO-neutral term and FICO wouldn't score that. However, if the TL said "charge-off" anywhere within the TL, or in the payment history, or even forclosure, then it is viewed as a foreclosure by FICO and lenders. FICO will look at the Worst Delinquency, the comments, the 7-yr payment history, and the status when scoring the TL (among others). In other words, while the term "unrated" doesn't hurt, the other items will.