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Posted in Mortgage
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Bfiebig

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My real estate loan was paid off in 8-2016. Why is it still listed as outstanding?

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Top Contributor
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Not sure why it wouldn't have been updated yet. Maybe a glitch here. Is the balance marked as zero? If it is, then it is just a glitch here. Keep in mind that if the account is not listed as closed and you make corrections to get it closed you can probably expect a decrease to your credit scores, because in most cases closing loans hurts credit. Whatever you do, I would not dispute the account, it could get removed rather than corrected and that would really cause damage it if was a positive account. If you really need it corrected, very politely ask the lender to update the account, but not remove it. Tread carefully if you go that route. I would just wait for a few months, check your hard credit reports and go from there.

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