Posted on: 18th Sep, 2012 02:43 am
On my credit report, a primary mortgage on investment property (a rental home) has been classified as "revolving credit" on the credit report? Do you think re-classifying the rental mortgage as "real estate debt" would raise the FICO score? If it is possible to get the rental mortgage reclassified, any suggestions about how to do that?
Hi Saassy,
A primary mortgage cannot be considered as a revolving credit. However, if you've taken out an HELOC, then it will be reported as a revolving credit in your CR.
Thanks,
Jerry
A primary mortgage cannot be considered as a revolving credit. However, if you've taken out an HELOC, then it will be reported as a revolving credit in your CR.
Thanks,
Jerry
Hi Saassy,
A normal primary mortgage shouldn't be classified as a revolving credit. If it is not an HELOC, then it shouldn't be classified as a revolving credit. You should contact your lender and try to sort out the matter.
A normal primary mortgage shouldn't be classified as a revolving credit. If it is not an HELOC, then it shouldn't be classified as a revolving credit. You should contact your lender and try to sort out the matter.