Lender/Servicer's Failure To Report Prompt Payments To Credit Bureaus Leaves Refinance-Minded Homeowners Facing Roadblock

In Fort Worth, Texas, the Fort Worth Star Telegram reports on a story on three different homeowners who are having problems with their subprime mortgages held by one lender. The problems faced by the homeowners in two of the cases is that, despite making timely payments on their mortgages for an extended period of time, the lender/servicer never bothered reporting those prompt payments to the credit bureaus. Consequently, the homeowners' ability to refinance their existing subprime home mortgages with lower, fixed rate, prime mortgages based on their prompt payment history has been greatly impaired.

For more on their stories, see The foreclosure crisis hits home, over and over again (if link expires, try here).