Full Version: derog from rehabbed loan?
I was looking through my myfico report today and noticed that 3 of my loans serviced by NELNET were listed as $0 balance and as a paid collection, but these loans were rehabilitated with all of my other loans that were serviced by NELNET, in total of 6 loans. Is it normal that the negative remarks would still stay after the loans were rehabbed?
QUOTE(michaelgoetz @ Jul 20 2006, 02:37 PM) 
I was looking through my myfico report today and noticed that 3 of my loans serviced by NELNET were listed as $0 balance and as a paid collection, but these loans were rehabilitated with all of my other loans that were serviced by NELNET, in total of 6 loans. Is it normal that the negative remarks would still stay after the loans were rehabbed?
Yup, totally normal. Only the guarantor is required to remove negative remarks. The lender/servicer is under no obligation to make any changes.
QUOTE(LynnInMN @ Jul 20 2006, 01:41 PM)
QUOTE(michaelgoetz @ Jul 20 2006, 02:37 PM)
I was looking through my myfico report today and noticed that 3 of my loans serviced by NELNET were listed as $0 balance and as a paid collection, but these loans were rehabilitated with all of my other loans that were serviced by NELNET, in total of 6 loans. Is it normal that the negative remarks would still stay after the loans were rehabbed?
Yup, totally normal. Only the guarantor is required to remove negative remarks. The lender/servicer is under no obligation to make any changes.
UGH, that makes no sense. I wonder how I could get them removed because after all it was rehabbed.. part of the rehab included removing negative remarks..
QUOTE(michaelgoetz @ Jul 21 2006, 12:42 AM)
QUOTE(LynnInMN @ Jul 20 2006, 01:41 PM)
QUOTE(michaelgoetz @ Jul 20 2006, 02:37 PM)
I was looking through my myfico report today and noticed that 3 of my loans serviced by NELNET were listed as $0 balance and as a paid collection, but these loans were rehabilitated with all of my other loans that were serviced by NELNET, in total of 6 loans. Is it normal that the negative remarks would still stay after the loans were rehabbed?
Yup, totally normal. Only the guarantor is required to remove negative remarks. The lender/servicer is under no obligation to make any changes.
UGH, that makes no sense. I wonder how I could get them removed because after all it was rehabbed.. part of the rehab included removing negative remarks..
As I said before, you can't! The Higher Education Act states that only the loan holder has to remove the negative remarks. That does not apply to the lender.
QUOTE(LynnInMN @ Jul 21 2006, 04:48 AM)
As I said before, you can't! The Higher Education Act states that only the loan holder has to remove the negative remarks. That does not apply to the lender.
Sorry, I know theres nothing I can, and that's what makes me not like it. Its ok though, thanks for all of your help, you've been extremely helpful.
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