maynard123

Hmmm.... We were told it was acceptable to get the work performed by Home Depot, who is who we are using for the appliances, carpeting and window treatments. This is so frustrating.... We have a GC involved but as far as we understand he is only there to assure the work is being Performed. Any advice, Brian?

I'm hoping someone can help me understand how this scenario is going to play out after closing.... My husband and I are closing on our house in a few days and I am still confused about how our 203k loan is going to "work". I am not really clear and I'm not thrilled with how our loan officer is answering us. Ok... So we went through the whole process and got our estimates for the renovations and they were accepted and approved. Our improvements are pretty straightforward.... New appliances, new carpeting, full interior paint and window treatments. The thing is this.... Other than our painter, everything really needs to be paid up front. And frankly, we don't have an extra $6k laying around to do that. The loan officer just told me that we get 35% of the money within a few days of closing. The rest is in escrow until the work is completed? So, how do go about getting the work done when the money is tied up in escrow? The only vendor who can be paid after the work is done is the painter, and he needs to be the first thing done because we don't want painters in after new carpeting is installed. I am lost. Our loan officer says his 203 dept will guide us after closing, but I hate being in the dark until then.

So, Brian, do you suggest we go right to a broker? I have pulled our scores but know that these differ from what a mortgage company will have based on their own formulas. We have been working with New American who has been very helpful, but I know their hands are tied by their 640 minimum.If so, how do we go about finding a reputable lbroker? My parents used a broker through Lending Tree a few years and were very pleased, although it was a conventional mortgage in a much different market and with credit scores in the 800's.We have a pre approval from NAM from last month when my husband's scores were 580, 630 and 639, with the knowledge that a few things would be changing and working in his favor, and with then understanding that the home we made an offer on-- a short sale-- could take weeks to months to be approved by the bank holding the lien. We just got word that the negotiator would be making a final decision in 7 days, so we are now getting into crunch time!Thank yours much for you advice and help!

My husband and I are looking to apply for an FHA as first time homebuyers. His scores are 639, 641 and 655; mine are 695, 705 and 715. With his scores being so on the cusp (with most companies requiring a middle score of 640), I am worried about getting denied by one lender and losing any precious points on his score. His scores have been raised over 100 points in the last year thanks ton everything I've learned here on CB.... I don't see any areas to improve his scores in the short term. He has one collection for $273 and two CO credit cards for less than $500 each. In addition, there is a satisfied judgement that EQ won't delete, no matter what we try. There are also six 30day lates on an open auto loan, the last of which was 1.5 years ago. HE is an authorized user on five store cards, all with $0 balances and two major CC's with less than 30% utilization. I think his scores are lower than should be because of excessive inquiries (10 in 2 years) and no actual active positive credit on which he is the primary cardholder. We had a bad experience with Wells and don't want to attempt them as a lender. Can anyone recommend a lender for us? Would a broker be a better idea?

BumpYes, they are reporting the full balance. Can I dispute this, considering it's now a "forgiven debt"

please bump

I use Equifax for credit monitoring. The current 3 bureau scores they are reporting are 641, 670 and 579. Recently, I pulled my own scores on the same day a mnortgage company was pulling and their results were each about 10 points HIGHER than what I was seeing on Equifax. What gives? Does Equifax give FAKO's? They are not showing as PLUS scores or Vantage scores... I'm confused? Are my actual scores likely higher than what I think they are on Equifax?

I have a collection from Chase that Asset Acceptance was collecting on. It is just past the 3 year SOL. The debt was not validated and AA was forced to delete from my CR's. The OC is still reporting though. I received a 1099C from AA for the debt and will be included in my 2011 tax return. Now, question is... the debt is not collectable... does this affect the OC's reporting to the CRA's?

I closed a first premier credit card a few months ago because of the high annual fee... but now I have a situation and I think re opening it may help. My husband and I are applying for a mortgage. Text score right now is at 638 which is just 2 points shy of the minimum our mortgage company requires. Does anyone think that it would help to reopen this credit card and add him as a joint user? The account was opened in 2009 and has absolutely no late payments. There are 2 reasons why I am hesitating: 1- the credit limit on the account is only 250 dollars 2- my husband has a chargeoff from first premier on his credit report that we cannot get rid of no matter what we try. Could they come after the good account if he's a joint holder?

I closed a first premier credit card a few months ago because of the high annual fee... but now I have a situation and I think re opening it may help. My husband and I are applying for a mortgage. Text score right now is at 638 which is just 2 points shy of the minimum our mortgage company requires. Does anyone think that it would help to reopen this credit card and add him as a joint user? The account was opened in 2009 and has absolutely no late payments. There are 2 reasons why I am hesitating: 1- the credit limit on the account is only 250 dollars 2- my husband has a chargeoff from first premier on his credit report that we cannot get rid of no matter what we try. Could they come after the good account if he's a joint holder?

Sorry, just saw the last response. The OC hasn't validated, neither has the OC and now this new CA hasn't. So, basically three companies say I owe this and no one wants to prove it. The OC isn't reporting, luckily. I requested a DV from CA#1 and got nothing. CA #2 never even bothered sending an initial collection notice, or anything since then. This is killing my credit score!! it looks like two collection accounts.I decided to take other action and tonight I filed complaints with the BBB in each of their states, the FTC, and the AG's of their states and mine. I have no other recourse it seems.

Neither. The OC is a cable company and did not report the accont

Should I DV?

Looks like they got creative and assigned a new account number, so that's probably why the CRA's let it stand.

I had a CA Reporting a debt from a cable company. I disputed, it was verified. Now, I have a second CA reporting the exact same debt. Again, disputed, verified. What do I do? Can they both report this debt?