Can I add my good payment history on a private loan to my credit report?

QUESTION:

I bought my home a few years ago. The previous owners carry the first and only mortgage in the amount of $225,000. I gave $45,000 for the down payment and my payments are $2,000 monthly. I have never been late with a payment. Because I would like to establish good credit, I would like to have this information included in my credit report. Is this possible -- and how would I go about it?

ANSWER:

You can send the credit bureaus copies of the front and back of your 12 most recent mortgage checks. Be sure to send copies, not the originals -- you may need these again someday! You might also enclose a copy of the mortgage agreement showing the payment due date. Ask them to add this information to your account. They are not required to do so, but might (usually for a fee).

You might also ask the house sellers for help. You may need to ply them with home-baked banana bread first. Then urge them to draft a letter reiterating your good payment history, and to send it to the bureaus with the request that the account be added to your file.

If you can't get the credit bureaus to include this information in your credit report, remember, you can still include the information on an application when applying for new credit.