What does HOME LOAN SERVICES mean on my credit report?

Learn about HOME LOAN SERVICES, an provider offering loans for financial assistance. Check the impact to your credit report and financial status.

Updated January 1, 2023
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What is HOME LOAN SERVICES?

HOME LOAN SERVICES is shorthand for Service Home Loan, with the company name being Service Home Loan Inc

HOME LOAN SERVICES is a Loan Provider. They could be on your report for a number of reasons, for example:

  • ⚫ You missed a repayment.

  • ⚫ You opened an account with Service Home Loan.

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

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

How do I contact them?

Here is the current contact details for Service Home Loan:

Website:

Payments

You can make a payment by registering online at ServiceHomeLoan.com and submitting a secure message with the “COVID-19 Request” category. You can also mail a payment to the address provided. Interest will continue to accrue during the forbearance period.

Question Answer
Do they offer a monthly payment plan? Yes
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

they do not offer loan forgiveness or consolidation. To qualify for loan forgiveness, customers should register online at ServiceHomeLoan.com, submit a secure message using the “COVID-19 Request” category, and be prepared to review available assistance per investor guidelines. Escrow payments may be suspended, or customers may choose to make escrow payments each month during the forbearance period.

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

How to Apply

To apply for a loan, register at ServiceHomeLoan.com. If you are experiencing financial difficulty, you can submit a secure message using the “COVID-19 Request” category. Payment forbearance plans are available, and interest will continue to accrue during the forbearance period.

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.

HOME LOAN SERVICES 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.

What is a Loan Provider?

A loan provider is a bank or financial organization that can provide loans. In order to apply for a loan they will run a hard inquiry on your credit account which will negatively impact your credit report. They may make mistakes in their reporting, so if it says that you have missed a payment and you haven’t then if you take the correct action you will be able to remove the late repayment from your credit profile.

How do I remove HOME LOAN SERVICES 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.