What does CORNERSTONE HOME LENDI mean on my credit report?

Is CORNERSTONE HOME LENDI making an impact on your credit score?

Updated January 1, 2023

What is CORNERSTONE HOME LENDI?

CORNERSTONE HOME LENDI is shorthand for Cornerstone Home Lending Inc, with the company name being Cornerstone Home Lending Inc Inc

Coronets and supporters included within this article are those from the city of Bruges only.

CORNERSTONE HOME LENDI is a Creditor provider. They could be on your report for a number of reasons, for example:

  • ⚫ You missed a repayment.

  • ⚫ You opened an account with Cornerstone Home Lending Inc.

  • ⚫ You opened a credit card / loan / mortgage with this company.

  • ⚫ Someone fraudulently opened a credit line under your name.

About the account

  • ⚫ The average account balance is $230500.

  • ⚫ The average high credit balance is $286300.

  • ⚫ The average monthly repayment is $1900.

How do I contact them?

Here is the current contact details for Cornerstone Home Lending Inc:

Address:

  • Corporate NMLS 2258 1177 West Loop South, Suite 700 Houston, Texas 77027

Website:

Email:

Phone:

Payments

You can make payments online, over the phone, or through a mobile app. You can also pay with a check, money order, prepaid debit card, or wire transfer. There is no monthly payment plan, but there is a discount for automatic payments. If you are late or miss a payment, there is a penalty.

Question Answer
Do they offer a monthly payment plan? No
Can I make payments over the phone? Yes
Can I make payments online? Yes
Do they offer a discount for automatic payments? No
Can I make a payment using a mobile app? Yes
Can I make a payment using a prepaid debit card? Yes
Can I make a payment using a wire transfer? Yes

Forgiveness and Cancellation

Loan forgiveness and consolidation are both options from this company. To qualify for loan forgiveness, you must make 120 on-time payments. For loan consolidation, you must have a government loan.

Question Answer
Do they offer loan forgiveness? No
Do they offer loan consolidation? No

How to Apply

You can apply for a loan online, over the phone, or in person. You may also be able to apply for a loan using a mobile app. In some cases, you may need a cosigner.

Question Answer
Can I apply for a loan online? Yes
Can I apply for a loan over a phone call? No
Can I apply for a loan in person? Yes
Can I apply for a loan using a mobile app? Yes
Can I apply for a loan with a cosigner? Yes

IdentityIQ Report Example

  • This is an example of what this creditor will look like on your IdentityIQ report.

CORNERSTONE HOME LENDI IdentityIQ Report

Will this affect my credit score?

Whether this account affects your credit score depends on a variety of factors, such as:

  • Account Open Date: If you opened this account recently it will impact your credit, the only way to prevent this from impacting your credit score is to remove the account from your report.
  • Derogatory Markings: If this account has any derogatory markings such as: Lates, Charge Offs, Collections and others.

However, there are could be some potential positive aspects to this account which could lead to improving your credit score, such as:

  • Account Age: If your account is quite old, then the age of it will positively impact your credit score
  • Repayment History: If the account has no Late Payments, Charge off Payments, then it may reflect a positive impact onto your credit score.

Can it be removed from my credit report?

Yes, with the right strategy, you will be able to remove any account from your report. But you have to be careful to ensure that the account is negative to begin with, or it will negatively impact your credit score.

However, removing a negative account will positively impact your credit score, allowing you to open new credit lines and potentially removing bad debt.

How do I remove CORNERSTONE HOME LENDI from my credit report?

You can send a dispute letter to the credit bureaus to remove this account from your report. You must send a dispute letter to all three credit bureaus, as they are legally required to remove the account from your report if it is found to be inaccurate. For best results you should send a dispute letter to the credit bureaus via certified mail, this will ensure that you have a legal record of the communication.