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thewretched022 · Joined: 21 Oct 2009 Posts: 18 3.29 Dollars($)

credit score is only one part of the puzzle, but it is a good place to start I guess.

Guest

My name is on the deed along with my daughter and her husband. I am not signed on the mortgage; however, this mortgage (which was in default) shows up on my credit report.
Should this mortgage be on my report since I am not on the mortgage but on the deed only? Tn. property.

smithsussane · Posted: Fri Aug 27, 2010 11:03 pm Post subject:

Hi Jeannie!

Welcome to forums!

If you're not a coborrower of the mortgage, then your credit report shouldn't mention it. You should contact the credit bureaus and dispute the item and get it removed.

Sussane

davidbaker · Joined: 21 Apr 2011 Posts: 24 7.49 Dollars($)

Here's the deal. Credit reports take time to learn how to read. I don't expect anyone to just pick one up never having seen one before and know what everything is.

"What are all these 1's next to my credit card accounts? Are they bad?"

"What does charge off mean?"

The free credit reporting sites are ran by the bureaus. They delete pertinent information you need to dispute negative items. Also you're only entitled to one of these per year. If you check your credit a lot it's going to look like you're constantly applying for credit and are going to be deemed at a higher risk, therefore lowering your score.

A credit report is a direct reflection of your credit worthiness including employment information, public records, addresses, credit you've been awarded and how you've paid.

Your credit score puts you into an underwriting category to help create a risk profile for you to either be extended credit or not be extended credit by a creditor.

Back in 2004 a US Public Interest Research Group study found that 79% of all credit reports have inaccurate information and 1 out of 4 is so damaging a person is denied credit. Given the events of the economy and market since then, these figures are much higher now. Credit effects every part of our financial lives as Americans. We help consumers assert their rights under very powerful consumer laws in the Fair Credit Reporting Act, Fair Debt Collection Practices Act, the Real Estate Settlement Procedures Act, and the Truth in Lending Act.

We do a lot of continuing education for mortgage and real estate professionals, so that way the end consumer does not get as confused and frustrated as they have been.

There's a lot of misinformation out there. There's probably a lot on your credit report as well. All I'm saying is you might want to seek the help of a professional and get a full credit report including scores and dates of last activity.

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