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Please advise on next step Mortgage Company Goodwill letter, backfire?


deejay3
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I pulled the credit reports and have mistakes on my mortgage. My mortgage was sold in 2007 from ABN to CitiMortgage.  The ABN report shows two 30 days late June and July and two 60 days late Aug and Sept during the sell.  BUT CitiMortgage shows these are OK.  I can't have TWO mortgages listed for the same house at the same time, one with GOOD and one with 30 30 60 60.

 

So I disputed with credit bureau: ABN  This account is listed as being 30,30,60,60 days late for June-Sept 2007.  I was never late on this account.  This is a mortgage and was sold to a new lender before this negative payment was reported.  As you can see per the new lender Citi Mortgage acct XXXX Their listing on my report, I was making payments and they were current at this time. 

 

I know these will fall off soon, it was kind of my "practice run" to see if I could get things deleted.  PLUS  it really is listed two different ways to two different mortgage companies on my report.

 

Next I write a goodwill letter to CitiMortgage asking them to delete a 30 days late 3 years ago. My mortgage has been paid ok for 4 years, except this one month.  Told them I was caring for my grandmother in her final days during this time, and please delete.  I was a applying for a new job and trying to make my score look better. 

 

RESPONSE:

 

Thank you for your recent inquiry regarding a credit bureau correction related to your mortgage account.  We are unable to change the status. Followed by a  LONG LETTER FULL OF BULL...then says, The credit reporting agencies will accept a letter of explanation for any derogatory reporting. SInce CitiMortgage is unable to correct your report as you requested we have placed an In Dispute comment on your CitiMortgage trade line.

 

HELP!   ::drowning::  I am new to this credit reporting/repairing.  I don't know what this "In Dispute" means.  Will it hurt me?  Will it help me?  Is it just general BS?  Do I need to have it taken off?  How?


Thanks for your help again. 


PS

 

The only OPEN accounts I have are the mortgage and one secured credit card.

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I'm puzzled as to why they are putting you as "in dispute".  They said they couldn't change the listing?  Weird.  

 

However, "In dispute" won't hurt you in most situations.    The only time I've heard that it hurts is if you are trying to refinance or purchase a new home. Some lenders want to see any disputes cleared up before they score your credit.    In any case, eventually the listing will just revert to what it was before you sent your goodwill letter.  By the way, I don't think it hurt you to send in the letter, it just didn't work.  Good will letters aren't 100 guaranteed success status.    

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What's worse is these scores are NOT exactly about your ability to pay back your debts or such (though that does figure in, of course).  They are about how attractive you are to lenders for the purpose of monetizing you.  Close, but not the same.  For example, someone who regularly pays on time like most others, but keeps a larger running balance on their credit cards (for scores appropriate for them), is more attractive to the credit card lenders for the greater interest they can earn.  That's part of why this is such a mess and so hard to figure out.

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