yugin

On my credit report there's an old account with a red flag. It's a mortgage account that was closed through a short sale. Under status it says "Account legally paid in full for less than the full balance". That was in June 2011. My score is 670+ now. Will this red flag affect my future loan applications and how/when this red flag disappear?

We will be in the market for a new vehicle in a few month. The price is around $30K and I will be putting down of $18K. We had mortgage and a car loan with a local credit union. The car loan was paid off early, but we had to go through a short sale on our house back in 2011 due to loss of a job. The mortgage account was closed in June 2011 with wording "Account legally paid in full for less than the full balance". My FICO dropped from mid 700's to upper 500's. Three years later my scores are 670+ with just 2 credit cards. Should I go back to the same CU or their doors are closed for me?

We sold our home last year in short sale. Today we've received 1099-C. I am not sure about the numbers they reported. Our loan/mortgage amount was about $205,000. House was sold for $168,000. Form 1099-C says amount of debt cancelled $12,890 and fair market value $149,100. Is amount of debt cancelled supposed to be 205,000-168,000=37,000 ? Or that is not that simple?

I went through myfico.com ??

I just talked to the lender and they not refusing that it should be $0 and paid in full/settled for less than owned. She said they put it in comments and I was like "isn't supposed to be in the header not in the comments?" She said they will look at it. Could Transunion and Expirian report differently? I didn't check those.

I was checking my credit (Equifax) almost 2 month post short sale. It still shows that I have a mortgage with a balance which is difference between my loan and sold amount. It has a status of "bad debt/collection" but nothing under collections. The status is of April maybe not updated? I have a paper from lender that upon selling of the house my mortgage will be settled in full. I filed a dispute and copy/pasted statement about settlement in full. I called bank as well but didn't hear from them yet. What should I expect?

No accounts. She closed them like 6 month ago.

We all have an established history. Few months ago we had a big dent in our scores due to late mortgage payments (eventually completed short sale on our house). Due to all this I had a cut on my line of credit and whenever she applied for a store credit card she was declined like 2 months ago. I'm just wondering if adding her will get her score moving in positive direction.

I searched and getting contradicting information. If I add my wife as an authorized user to my credit card will it help her credit score?

We closed short sale of our house almost a month ago. Today I've got closing statement from bank with numbers, like loan amount, amount that house sold and .... closing balance of $X amount. Whenever we negotiated we made sure that they added 'settlement in full' on our account. It's all on paper. I was wondering what is this closing balance since they accepted settlement?

well, we are doing one and waiting for final answer from PMI. They counteroffered once AFTER the credit union said they accepted the short pay off. I think its can be done.

well, I refused everything until they went with real short sale. Now we are waiting for their final OK on the offer.

Thanks for kind words Dogman, but I am not depressed, just kinda unpleasantly surprised, didn't think it would be this fast . Yes, I have a family: wife and would be 3 year old, so those people are way more important than any house or credit. I am on unemployment, for now and will be going back to school and will have to find place to rent meanwhile (with low credit ).

yeah, health is the most important thing! I don't care about the house long ago. Its just kinda surprising to go from upper 700s to mid 500s LOL. Plus wondering if I should expect worse.

I just received letter from BOA saying that they lowering my credit line. I am 3 moth late on my mortgage. I went ahead and checked my score and it is already about 200 points down (Experian). I just wondering if its gonna go any lower as we will fall further behind on mortgage plus probable foreclosure?