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HomeCredit ForumCredit repair

How Do or Will These Things Affect A Credit score?

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carol

carol

Joined: 27 Jun 2006
carol's page
Posts: 401



10920 Magic Points
 
 Posted on Thu May 15, 2008 5:26 am  
Thanks goodnatured
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Keep in touch
Carol
 
sdchargers_63

sdchargers_63

Joined: 13 Aug 2007
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Posts: 922



3062 Magic Points
Subject: loans
 
 Posted on Thu May 15, 2008 10:36 am  
Can you give me an 'update', DEBTFREE? Did you get a chance to look on your Credit Reports? is the school loan there? If it is, is it a 'positive' status?
 
bad credit
Guest
Subject: how do i get vanderbilt mortgage off my credit
 
 Posted on Sun Sep 21, 2008 4:16 pm  
i have different collections on my credit a holding my credit scores down but i am mostly interested in one of them and that is vanderbilt mortgage they say that i owe 60.95.00 on a mobile home bought from them and i sold it but they say it was repossessed and now they have me a oweing it on my credit report and and i cant dipute it i have tried and its still on there do you think maybe having two credit cards with low balances might help rebuild my credit even with those things on my credit at least until they are removed after 7 years
 
bad credit
Guest
Subject: how do i get vanderbilt mortgage off my credit
 
 Posted on Sun Sep 21, 2008 4:21 pm  
correction the amount they say i owe on vanderbilt mortgage is 6095.00 not 60.95.00
 
Justin

Justin

Joined: 17 Jul 2006
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Posts: 444



11493 Magic Points
 
 Posted on Wed Sep 24, 2008 7:17 am  
Hi Bad credit
As far as I know, since you have taken a mortgage loan from Vanderbilt for a mobile home and has not repaid it back fully, you should have informed the mortgage company about the transfer of of the home to the new occupier, so that they could have prepared new papers in the name of the new occupier. However, since you have not done so, you cannot sell off the property. Hence the transfer you have made cannot be considered as a sale to the new occupier and will be considered as a repossession. So you still remain liable for the mortgage debt and the debt will get listed in your credit report.
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Justin
 
anthony

anthony

Joined: 31 Jul 2006
anthony's page
Posts: 507



12662 Magic Points
 
 Posted on Wed Sep 24, 2008 8:44 am  
Since you have missed your mortgage payments, your credit score will definitely get lowered. A missed mortgage payment of more than 30 days can even lower your credit score by as much as 100 points and this decrease in score remains for 12 months from the date you make your account current. Even if you make regular payments on your two credit cards, it is very difficult to recover the credit score which has already gone down due to missed mortgage payment.
_________________
Anthony Marx

A positive attitude is not achieved by turning a blind eye to the negative, but rather by responding to every situation in the most positive way possible.
You can also visit my blog
http://financewatchonline.blogspot.com
 
fireyone



Joined: 26 Feb 2008
fireyone's page
Posts: 2977



4361 Magic Points
 
 Posted on Wed Sep 24, 2008 11:44 am  
Wow I never relized a morgage missed payment would do such damage. I have always made ours on time and believe I will make sure it always is. Credit is such a hard thing to rebuild ince you make a blunder.
 
goodnatured



Joined: 03 Nov 2007
goodnatured's page
Posts: 3172



1095 Magic Points
 
 Posted on Thu Sep 25, 2008 3:00 am  
fireyone how did your credit score get affected by the blunder you was in?? Did it show up on your report as paid or did they report it as missed.
_________________
Goodnatured,

Trying to become and stay debt free, thank you for all your help and support!
 
Mary

Mary

Joined: 06 Jul 2006
Mary's page
Posts: 349



9261 Magic Points
 
 Posted on Fri Sep 26, 2008 12:06 pm  
A missed mortgage may be very costly for your credit score. If you miss a mortgage payment, late fees and other charges will add up so much to your actual due, that you will find it difficult to make it up later. Moreover, if you miss your payment by more than 30 days, your credit score may fall by as much as 100 points. So whenever you miss a mortgage payment, you should immediately inform your lender of your financial position, so that he can set up a repayment plan to enable you to pay back the missed payment.
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Where there's a will, there's a way !!
 
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