I need some direction. About four years ago, we disputed our mortgage with the bank as it was being reported. Somehow - probably due to non-response - the tradeline was removed. At the time we were in the midst of the recession - and we had a rough time. Things have improved dramatically - and we have been current with the bank on the mortgage for some time. What I do not want to do is introduce additional negative information to a very hard fought largely clean slate. If we authorize the bank to reinsert this trade line with one or all of the reporting agencies - can and will they automatically report all the way back to the last month of reporting (now several years past) - or are they obligated to essentially pick it up from here and report going forward? We are probably better off with no reporting from this trade line than dredging up payment histories that would show negative information.
This is a very interesting question. I don't think there's any specific rule that says what the lender must report if they reinserted the mortgage on your credit reports. My feeling is that they would report all payment history associated with the account, and it sounds like this is something you definitely don't want. You're lucky that the late pays aren't on your credit reports in the first place. I think I would leave it as is and focus on building my credit scores through other methods. You can build good FICO scores without a mortgage on your credit reports. I'll do some more research on this though because I haven't seen a similar question before.
thank you - I suspect you will come back and say it's all or nothing w/reporting, and at that stage - we'll let sleeping dogs......
I think that's a smart move. I'll let you know if I find out any other information that might be of help.
