Reporting status to credit agency

[Krystilia]

What is the name of your state? Florida

I sold a home under a "Contract for Deed" which means I am providing owner financing and still hold the mortgage with my bank. This has a balloon payment in 5 years.

This family has been in the home since December and has been 5+ days late with payment two out of the four months.

Can I report his payment status to the credit reporting agencies like other lenders do? If so, how? I think this will give him the incentive he needs to pay on time.

Thanks,

KG

State: Florida

[debtcollector`]

You don't. You need to be a member to report accounts to the CRA's. Also, it isn't a late on the credit report until the account is 30 days late.

DC