Heloc Denied We Need Help

[Tiffany U.]

Hello,

My husband and I are actively searching for a rental property. We decided we would take a HELOC out of our home for our first deal. We decided on the amount and are going through our bank to complete the paperwork. We have run into a problem we refinanced several years ago and the first mortgage holder accidentally reported to the credit bureau that the loan was partially paid off not paid in full. We have gone back and forth with them as to why this happened. We were sent documentation that the loan was paid in full and not partially repaid but in the meantime the back declined our HELOC. How do we get the error off our credit report. We've been working on this for over a year we have documentation from the lender but how do we remove this from the reporting agency.

[Tiffany S.]

If you have all of your documentation contact the credit bureaus. I submitted an error online with my documentation and the issue was resolved in like 2 weeks. I didn't get any correspondence but i just noticed the negative item gone and an increase in my credit score.