Recent lates showing up on old, closed out homeloan

[bgreene_74]

I've posted this on the BofA Mortgage Thread but thought I would post here as well since it is credit related. I apologize in advance for a long post.

In around October 2007 the home that my husband and I purchased through Country Wide went into foreclosure and it was finalized in November 2007. For the past three years we have been renting, paying off credit cards and getting our credit back on track in the hopes of trying to purchase another home sometime this year. We started working with a mortgage broker in March of this year just to see where we were at credit wise and what we should do between then and November 2010. She pulled a joint credit report in March and the foreclosure came up with BAC Home Loans as the lender with the date of last activity being Nov. 2007. At the time, our broker let us know that between the foreclosure and a few other items showing up on our credit report, that our scores needed to come up a bit before we would be able to qualify for a loan and at her suggestion, we signed up for a credit repair service. Since March 2010 to now, the service has been able to get about four items deleted from my credit report and it has helped my score go from the low 600's to the mid-high 600's. My husband on the other hand, pulled a new credit report last week and now BAC is showing three 120 day lates for April, May and July 2010 on the Equifax line. It is because of this we believe, his credit score has been lowered even more than it was last March. What is baffling is that on my new credit report I pulled last week, BAC still shows 11/07 as the date of last activity.

I guess my question is a.) is this legal, b.) could it be a mistake on either Equifax or BAC or c.) could this have been cause by us signing up for this credit repair service? The credit repair service is currently disputing these lates but said it would be very difficult for them to be deleted in a timely fashion. I'm wondering if this has happened to anyone else. I don't understand why these lates would show up on an account that has been closed for almost three years.

Any help or advice will be greatly appreciated.

Brandy in Sacramento

[Alex Ferreras]

I posted in that last thread in the Bank of America post, refer to it, as it shows how to file and a mistake that might be on your credit report. Also take any other piece of advice that you can.
Good luck, again

[LostFaith]

1.) Fire the credit repair company. That is a waste of money and they can't do anything you can't do yourself, PERIOD. Once they disputed with the morgage company, it obviously triggered them to update your husband's credit report. Whether or not that update is accurate within his Fair Credit Reporting Rights is for him to investigate and challenge if applicable. The dates you listed do not make sense if the house was foreclosed back in 2007. There must be more to it.

2.) There is no such thing as a joint credit report. What they probably meant is that the account in question is a "joint account". That being said, joint accounts are not always reported equally on both parties' reports'. In those cases may be your ammunition and motivation to dispute items you believe are not accurate. But, you always gamble if you dispute something that is actually accurate. Especially with older accounts. Those creditors might in the process realize that they had not reported other lates and then do so.

You have to verse yourself on everything related to credit reporting and your rights under reporting laws. You can google creditinfocenter and myfico and anything else for that matter to learn enough to takle these tasks yourself. Time is on your side for now.

I will say it again, "hiring a credit repair company is a waste of money".

This is a great site, but credit information is not the specialty. Well at least not yet, since these specific forums are newer.

Good Luck.

[Maurice Bedard]

BofA may have just updated all their financila info from purchasing CW. Those lates might be the last thing on the CW file. Should be pretty easy to challenge them.