What Is Lilo Age?
Lilo age refers to how long a lilo (loan in lieu of foreclosure) has been reported on a credit file. It is measured from the date the lilo was first reported to the credit bureau, not the original loan start date. A longer lilo age generally signals more time has passed since the adverse event.
How Lilo Age Affects Credit Scores
Credit scoring models treat lilo age as part of your credit history length and negative item recency. Newer lilo entries usually have a larger score impact than older ones. As lilo age increases, the negative effect often decreases, assuming no new delinquencies or collections appear on the report.
Why Lenders Check Lilo Age
Lenders review lilo age to assess risk and repayment patterns. A lilo with significant age and no subsequent delinquencies may be viewed as less risky than a recent one. Underwriters may also compare lilo age against other negative items to understand the overall credit profile.
You can review your lilo age and other details by obtaining a free copy of your credit report from the official consumer site at https://www.annualcreditreport.com.
