CAdamsRP

yeah it is legal. i would go ahead and do the HIPPA process again, because the fact that they deleted and sold it off most likely is a sign that they do not have the proper information to verify the account. which means the new CA will not have it either, and will not be capable of verifying either.

Ok, For an FHA Loan, You may obtain an FHA insured mortgage for an investment property if; 1) You are a "qualifying" Non-Profit Organization and intend to sell or lease the property to low-or moderate-income individuals. (if you are a non profit let me know and i will give you the specs of what a "qualifying" non profit is) 2)(With the permission of the Homeownership Center HOC) private investors may obtain FHA insured mortgages when: -Purchasing HUD Real Estate Owned (REO) Properties, -consider this! or -Obtaining a streamline refinance without an appraisal. You would most likely have to go conventional. As far as I know, most other loan types do not do investment properties. If you need any help getting your credit in line for a conventional mortgage, let us know a little more in depth what you are workin with. =]

Ok. Best advise. Don't put everything in one letter. Opinions on this vary, but from my personal experience put no more than 2-3 baddies per letter per bureau. First opt out. Then dispute extra names and addys. Then "not mine" ad DV everyone 2-3 per letter. I also recommend hand written letters. Send 3 forms of proof of address. And send everything certified mail return receipt requested. then wait. Predicted results: Ef - 50% delete. Ex - 30%. And Tu 85%+. That is a lot less to pay and a good place to start your PFD adventures Keep reading the pinned topics! There is so much great information and so many people who are really good at this! Best of luck

yeah make the realtor figure it out. that is what he gets paid for. thats not your responsibility and it absolutely would not fly if you were financing. make the realtor come off his commission or something, you are paying enough!!!

yeah generally speaking for an apartment. they want to see no evictions or apartment/property related collections. no recent negative activity. clean background report. and 3 times the monthly rent as income. standards everywhere for apartments are loosening up because of the shape of the market.

yeah. its terrible. the longer you can keep an active line on your credit the better.

no. not for most lenders. however, do you have alternative credit? a cell phone, utility bill, insurance, rent etc that you have in your name that you have paid on time for the last 12 months? they can give you a statement saying just that and the lender can present this as one of your 3 active tradelines.

also, the higher your score is, more income you have, less obligations etc.... the better your overall picture looks, more exceptions can be made for you.

No. The agreement with the IRS is a government debt. It takes position 1 (meaning the first, most important thing you are required to pay). FHA will not insure a mortgage in position 2. Once the taxes are paid in full, you will be able to obtain a FHA insured mortgage. I STAND CORRECTED; Quote from FHA Guidelines 4155.1 section 4-A-10: "Tax liens may remain unpaid provided the lien holder subordinates the tac lien to the FHA-insured Mortgage" 4155.1 section 4-A-11: "The Internal Revenue Service routinely takes a second lien position without the need for independent documentation. for this reason, eligibility for FHA mortgage insurance is not jeopardized by outstanding IRS tax liens remaining on the property, unless the lender has information that the IRS has demanded the first lien position."

Generally speaking, an unpaid timeshare, is considered by the underwriters as a foreclosure. i would reach out to the time share company and try to obtain proof of when it officially foreclosed. it will be a problem most likely. it will be 3 years from the foreclosure date for FHA, and for all other loan programs it is longer than that, up to 7 years. It is sort of a unique situation, and perhaps your LO doesnt really know about it much, i hope that is not the case for you I do have documentation from the timeshare company via an email and a fax but the CR is still reporting it incorrectly. It would be interesting if a loan company would place more value in a CR than an actual letter from the timeshare company but people do place odd faith in CR's. Luckily for me it is a short sale which ironically takes a long time and so far I have improved my mid-score by 30 points to 658. I am continuing to work on getting the CR to report correctly but that, at times, is like getting a politician to be honest. is the documentation you have on the letterhead of the timeshare co? and it states the correct dates and balances etc? Your lender should be able to use just the letter to do whats called a Rapid Rescore.... 3-5 days the tri-merge provider can have the credit manually updated based on the information provided in the letter, they will also call the creditor to confirm, and in many cases you may have to authorize the timeshare co to release info over the phone to the bureaus. But that is a definitive way to get it corrected on the reports.

does its now current status give no grounds for removal from personal reports? is this something more likely accomplished by calling and begging than it is by letters?

First of all, Preface, sorry I have been a lurker, been on this forum for months but have done a lot more reading than posting, will work on doing better in the future with answering questions when i have something to offer. =] Have customer with 2 Bank of America Credit Cards, According to him they were to be on his business credit only, however they were personally insured. After a rough patch in business, customer says bank of america added both lines (then 90+ days late) to personal reports. Accounts are now current and have not been late for the last 4 months (since 5/2012-90). Trying to have them removed from personal report. Any suggestions? What grounds do I have for removal? I don't know much about business credit. Should this topic be on the business credit forum? Admin help me out if necessary?

you dont really want to have a $0 balance. keep a few dollars on it, so it looks active. $5-10 is great. each month this will add to your scores.

Generally speaking, an unpaid timeshare, is considered by the underwriters as a foreclosure. i would reach out to the time share company and try to obtain proof of when it officially foreclosed. it will be a problem most likely. it will be 3 years from the foreclosure date for FHA, and for all other loan programs it is longer than that, up to 7 years. It is sort of a unique situation, and perhaps your LO doesnt really know about it much, i hope that is not the case for you

i would go for the DV first, make sure they haven't sold it to someone else (which is what usually happens when they charge it off) if it has been sold, then it should have a $0 balance, if not then yes they can report the balance, but the DV is the best way to get that information. make it a lengthy one and they might not even bother since its already charged off... =] and just a helpful hint for the future, i wouldn't really recommend the online disputing..... a detailed and specific letter, CMRRR is usually the best way to go