tbwilli Posted January 9, 2007 Report Share Posted January 9, 2007 Hi,First off thanks for all the great info here. Just in the last few weeks from using the info I have learned here I have had 6 total deletions and have seen score increases from 25-52 points on my 3 credit reports. Now, the problem. I purchased my home in 2000 and used a local mortgage company, Essex Mortgage aka Loancare Serving. The mortgage was sold 2 months later to Marsh Associates, Inc. In 2002 we began having financial difficulties and this is where our "late pays" start to show up. When I pulled my TU it showed the Essex Mortgage as open with a 75,000.00 balance. So in essence it was showing that I had 2 mortgages, one w/ a balance of 69,000 and one w/ a balance of 75,000. I disputed the Essex Mortgage because that had been sold in Dec. 2000. I was sure that two open mortgages was hurting me. TU in turn "verified" the information and now the balance is 69,000 and it shows the exact same payment history as my Marsh Assosiates including all the late pays. I called Essex Mortgage and they don't even have me in their system anymore by name or account number. How do I get TU to correct this? It appears as though they just took it upon themselves to "update" and never even contacted Essex. What now? Thanks. Sorry so long . Link to comment Share on other sites More sharing options...
thomassl Posted January 9, 2007 Report Share Posted January 9, 2007 Hi,First off thanks for all the great info here. Just in the last few weeks from using the info I have learned here I have had 6 total deletions and have seen score increases from 25-52 points on my 3 credit reports. Now, the problem. I purchased my home in 2000 and used a local mortgage company, Essex Mortgage aka Loancare Serving. The mortgage was sold 2 months later to Marsh Associates, Inc. In 2002 we began having financial difficulties and this is where our "late pays" start to show up. When I pulled my TU it showed the Essex Mortgage as open with a 75,000.00 balance. So in essence it was showing that I had 2 mortgages, one w/ a balance of 69,000 and one w/ a balance of 75,000. I disputed the Essex Mortgage because that had been sold in Dec. 2000. I was sure that two open mortgages was hurting me. TU in turn "verified" the information and now the balance is 69,000 and it shows the exact same payment history as my Marsh Assosiates including all the late pays. I called Essex Mortgage and they don't even have me in their system anymore by name or account number. How do I get TU to correct this? It appears as though they just took it upon themselves to "update" and never even contacted Essex. What now? Thanks. Sorry so long .I recently had a similar situation in which my mortgage company was sold and both appeared on my credit report, whereby appearing as two mortgages. I disputed it with the credit bureau and sent them, certified, a copy of the letter from the original mortgage company stating the sell to another mortgage firm. I asked that the one be removed. They removed it and it now only shows my current mortgage company with the initial date of when I purchased my home. I do know that if there are any late payments showing in the past 24 months with the old mortgage company, they will keep it on your report but it shouldl show that the "account was sold". Link to comment Share on other sites More sharing options...
jasen Posted January 10, 2007 Report Share Posted January 10, 2007 My mortgage has been sold twice. All 3 mortgages show up on my report, no lates or anything derogatory though. This makes perfect sense to me, the previous mortgage was a completely separate loan.The older ones do show as sold or transferred though. If it's showing as open or active you have a complaint. Link to comment Share on other sites More sharing options...
tbwilli Posted January 11, 2007 Author Report Share Posted January 11, 2007 It was showing as "open" and "too new to rate", thats why I disputed the information. Two days later that mortgage shows the same balance and same payment history as the current mortgage. The original mortgage company can't locate the account by my name, ssn, or the account number anywhere so how can TU "verify" and duplicate a payment history on an account that doesn't exist? Link to comment Share on other sites More sharing options...
Winninger Posted January 20, 2007 Report Share Posted January 20, 2007 Hmmmmmmmm....some people actually have two mortages cause they have two homes (a second or vacation home). If both are reporting favorably, I would think that would be to your advantage.Realistically tho, I've had your situation and usually the old accoutn shows as "transferred" and "closed." Link to comment Share on other sites More sharing options...
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