Re: quick question about cred report

Posted by marvbear (24.92.200.236) on December 14, 2003 at 11:30:47:

In Reply to: quick question about cred report posted by airics on December 14, 2003 at 10:34:28:

Some banks report a gross loan balance and some report a net loan balance. The reporting of the gross loan balance is inaccurate!

The gross loan balance is the actual amount of money you WOULD HAVE PAID when the loan reached maturity. That figure is not accurate, because it does not reflect the actual amount of credit extended, nor the current amount due on the loan as of the date it is reporting.

Marv

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