How many points are deducted for late payments

lhunter75 · 07-02-2007, 09:03 AM

Does anyone know how many points are deducted from your beacon score for a 30 day late mortgage payment?
We are currently trying to obtain a loan for land and realized they have actually reported a 30 day late which is a inaccuracy. The mortgage co is supposed to be fixing this but I have also disputed it myself with the credit bureaus. I was just wondering about how many points we may gain back once this is fixed.
Also, is it possible to get inquiries removed from your report?

Thanks,
Lisa

centex · 07-02-2007, 10:03 AM

deductions are related as much to the recency of the derogatory reporting as they are the length of a particular file. A thin file will be hit much harder by a late than a more established file with 50+ items.

Feisty · 07-02-2007, 04:54 PM

Quote:

Originally Posted by lhunter75

Also, is it possible to get inquiries removed from your report?

Thanks,
Lisa

It depends. What kind of inquires? Hard or soft? Did you authorize it?

cajunbulldog · 07-02-2007, 05:05 PM

Quote:

Originally Posted by Feisty

It depends. What kind of inquires? Hard or soft? Did you authorize it?

Depends on who the credit bureau is and if they are hard or soft. Hard's are the only ones that really count. You can sign up for true credit or Credit Secure thru Amex and update your report every 24 hours.After enough pulls your hards from Equifax & Transunion will be bumped off. Equifax will allow you to dispute them directly with them.Experian you will have to live with until they age off.