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Everything posted by New2repair

  1. My mother passed away recently. She has some outstanding medical debt, in Massachusetts, approximately $5,000. A collection agency just sent her a letter, regarding a hospital bill. Her only asset was her home, which is to be either lived in by my brother, or sold and split between us. Are we required to sell the home to pay these debts? Can I use the Whychat method? Should I sent debt validation to the collection agency? If so, do I leave the signature area un-named? Thanks all
  2. Thanks for the response. Yes, father died without a will, and there were no assets that were not jointly owned, and no probate process. I have drafted up a basic form letter. Dear Heath provider Thank you for the care you provided Dad. Unfortunately, dad passed away on September 2015 (see attached). At the time of his passing, dad left no estate and no assets. Please refrain from sending further correspondence regarding this account. Thank you for your consideration in this matter. Is that sufficient? Thanks again for all your help!
  3. Thank you for the reply. I am sorry to sound naive, but I do not know the exact definition of an "estate". My parents owned a home together, and a small checking account.My mother is now living in that home alone. I guess, my fathers name would still be on the deed? Could they try to attach something to that? There was no will, and there is no lawyer to help settle anything. Basically, everything my father "had" is now my mothers. So far, the biggest bill is around 800 or so. There are a large amount of smaller ones in the 100-200 dollar range, but with so many, the total amount is starting to add up, but they are spread among numerous providers.
  4. It has been a while since I have posted here, as I was able to clean everything up with the help of the board. Now I am back with another question. My father recently passed away. There are now a large number of medical bills being sent to my mothers home (addressed to him). Her only income is Social Security. My question is, who is responsible for these bills? My father had medicare (A&B?) so all of the providers already received some payment for the services, and the bills are for the amounts not covered by that. This is in Massachusetts. Thanks!
  5. Friend has a closing scheduled for friday. Rate is locked, but was told if if drops, they will honor the lower rate. Can he call them tomorrow and ask for the lower rate just one day away?
  6. I had a friend (whom I mentioned before). They were in the middle of a mortgage and had some issues with their current lender. They are considering switching lenders, but need to close in about 25 days. The new prospective lenders are telling them this will not be an issue, but that seems like its cutting it very close. Any thoughts?
  7. I have a friend who is applying for a mortgage. He was referred to a bank, spoke to a loan officer, and upon going to the bank to fill out paperwork, saw that this "bank" is basically in a strip mall. Does that make any difference? Is it abnormal now to have to pay upwards of a $500 (application) fee for a mortgage?
  8. Yes! That changes EVERYTHING! Even if you have an issue with FHA, look into conventional. Im not sure why everyone touts FHA anyways. They are expensive and require 640 now? I went with a local credit union. They told me they could do 620. I wasnt sure if I was going to even have 620, the underwriter said he would speak with his manager to see if they could go even lower....fortunately, I was over 620 so it wasn't an issue.
  9. Myfico EQUIFAX was spot on, for every pull. Not even 1 point difference.
  10. 1) The seven year period will not start over. Its 7.5 really. Even if they sell it, it will still come off when it would originally. 2) Some (actually lots) of folks have had great success going the BBB route. However, be cautious that if they do not delete via that route, they will post that your account is in dispute, which *may* cause issues with your mortgage. Please read up on accounts in dispute. 3)I was in a similar situation. I waited until the very end to contact them. LVNV/Resurgent would not speak with me or let me pay. (I needed to pay to get my mortgage). They made me call the collection agency. Even though LVNV was reporting that I owed 800, the collection agency said it was 1200. So the amount they may claim you owe might be higher than $100 4)After I paid LVNV, they changed their credit reporting to show that my account had been OK for months, instead of delinquent. My scores went up. 5)If I could go back, I would have just paid what I owed/settled six months before my mortgage app. I believe your scores will recover, and you may be able to get a goodwill request out of them. 6)For such a small amount, I personally would pay it, request a goodwill deletion, and if they don't delete it, I would file a BBB complaint, saying you were never notified, blah blah blah, and asking for a deletion that route.
  11. The accounts that had 0 balance, I was not required to remove the notations. The one that showed a balance, once the notation was removed I lost 30-50 or so points, on Exp and TU. If they have 0 balance, I would leave them alone.
  12. More likely than not, your loan processor has zero knowledge about credit issues. If these collection accounts have been paid, and are showing 0 balance, I would leave them alone. If not, let us know, there is very useful threads here on who to contact at the credit bureaus to remedy the situation. Be aware that removing the disputes notation, has the potential to alter your score significantly.
  13. You might want to list what collection agencies are reporting. Even though they may have told you "over the phone" that they cant/ they wont, we may have info here on who to contact, or what to say : ) If I had 5 bucks for every person who said we can't, we don't, it against the law/rules/ethics, etc during my credit repair, I wouldn't need a mortgage! It'd be paid in full!
  14. Once, somebody hit me from behind. Bent the bumper, scratched the paint etc. I pulled over immediately. They sped off. I chased them just enough to get the license plate number. Proud as punch, I drove immediately to the police station, pleaded my case to the cop behind the plastic window, who responded to me...."How do I know thats what really happened,how do I know you didn't BACK into HIM"? We went back and forth. They said they'd look into it. A week later, after not hearing anything, they told me the car was not insured and the registration had expired. They couldn't do anything, but gave me the address of the owner, if I wanted to try something on my own. I drove the car with a dented bumper till it got junked.
  15. Yes, 3 months is not fixed, which is why I stated "around". Its highly likely that someone with borderline credit scores and credit history is going to be asked to have some reserves though, so I think it is reasonable to bring that to the attention of someone who has asked what to expect.
  16. Let me also add, you probably want to apply in august even if your scores are not where they need to be, because based on the fact you have had so many collections, there may be a few you do not know about. LVNV funding is particularly brutal about waiting for you to apply for a mortgage before suddenly appearing on your credit reports.
  17. 1) You need to head to the credit forum and list what companies are reporting the collections. You will be given good advice and possibly contacts on which ones to dispute, who to call, etc to get them off. 2)aside from the downpayment, you will need around 3 months of reserves (3x mortgage payment) a years paid insurance on the home (rough estimate $1,000), if you escrow your taxes, you will need to prepay 3-6-12 months (another $1,000). You will pay $500 or so for inspections, and of course lawyer fees up the wazoo! I received an itemized bill from my attorney for every single phone call I made to him, every phone call that he made to anyone else, and for every phone call to him, from the bank, other attorney, etc. With no points, all in all, downpayment excluded, I needed probably close to 8k
  18. I think we need more information. Such as what your current credit scores are. There is a potential for 5-15+ point loss in credit score due to inquiries and possibly what would be considered a new account, which would negatively affect the average age of accounts. If your/your husbands credit scores are borderline, I would get the mortgage finalized, then refinance the car.
  19. The UW will most likely not question why there is no CA associated with the CO. There is a possibility that because it says "consumer disputes this account" that may cause a problem. Some UW are ok with the notation as long as the balance is 0. Some are not. Some will make you remove that comment, which has the potential to have significant effects on your score. I worked heavily with the UW directly, not the loan officer. The UW told me I had to remove all dispute comments. I said I didn't have to remove the comments associated with 0 balance, the UW paused, and said ok. Not saying its right,wrong, or other UW will go along with that. It's just what happened in my situation. You will probably just have to write a letter of explanation.
  20. Where did you get your credit scores from? A credit score of 627 may present a problem. In order to get your credit score higher, here are some suggestions. 1) Pay off two of the credit cards, and bring the 3rd so the amount owed is less than 10% of the limit 2) Go to the credit forums and 1)research goodwill letters for the collections you have paid 2)research WHYCHATS HIPPA method for the unpaid medical collections. 3) You may want to look into opting out, and possibly applying for a mortgage a few months earlier than you want one, to sniff out any dormant collections.
  21. Congrats to both of you. My limit was also $500. After six months of on time payments, I received an auto CLI to $2,000. Cap 1 did wonders for my credit.
  22. I am not certain what you mean by the 60 day mark. I cannot recall if experian shows the DOFD or not. I believe equifax does show it. Have you had any correspondence from them at all.
  23. This in NOW way disputes what ICAN has posted. Please explore his advice thoroughly. I will add however, that I had 3 Cap 1/Hsbc unpaid chargeoffs, that were SOLD. I started receiving the pre approval letters. I applied for a secured card first, then unsecured. My mantra on cap 1 is this... It is important to understand that Cap 1 WANTS consumers with bad/troubled credit. They make MOST of their money when you DON'T pay on time. Late fees, 30% interest rates, tax write offs, are all very lucrative. Of course if you do pay on time every month, they make money off you as well. Annual fees, transaction charges etc. Go for it! Credit standards are getting lower again.
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