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Purgatory for home equity loan customers from Experian choice of loan classification

Those who utilize a 30 year fixed rate home equity loan to fund home improvements or a child's college education may well find themselves in an unbelievable Catch 22 as a result of how credit bureau Experian has chosen to treat that indebtedness.

For loans requiring monthly payments, I have been advised by Experian staff that it treats them as "installment loans" if the nomenclature mortgage is not in the account title, instead of the more logical "real estate loans".



  • August 04 2011 - Dallas
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Answers (2)

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  • August 04 2011
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If you do a google search of the terms:

dormand + experian

You will have a wealth of information.

What you will not have is the FTC doing its responsibility of investigating charges of material misrepresentation of Experian.
  • October 01 2011
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