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New2repair

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Everything posted by New2repair

  1. DallasLoanguy, what is the consensus going forward concerning rates? Is there talk of them going up, down or sideways from here? For my GFE, I would have to pay 2 points to get 3.5
  2. I got pre approved!! What a hurdle for me! It happened so quickly, thanks to everyone here at creditboards. Anyways, I notice on the letter that is says it will expire in 30 days. Isnt that kind of short? Will I have to reapply and have my credit pulled again in 30 days? I haven't even been home shopping, because to be honest I was really expecting to be denied. Also, the letter says the approval is "subject to" and then it lists a couple of things. Are these the "conditions" that I always see people talking about?
  3. Well, I am happy to report, that I have been pre-approved by another bank. The LO that knew about the deletions was supposed to get back to me, and has not responded. At this point I am not interested in dealing with them anymore. I am going to focus all my energies on the bank that has pre approved me.
  4. The LO said it was going to be a residential mortgage credit report. I did not think anything of it at the time. I figured they all pulled the same thing. I am not certain if the collections were a deal breaker or not. He said he would have to speak with the head underwriter to see if we could continue going forward.
  5. My state also says you are a first time homebuyer if you have not owned in 3 years.
  6. They are kinda sue happy. For 21k and proof, a lawsuit is almost certain. They sued me over 2k. If its any consolation, I had been receiving dunning letter for a while, and the language began to lean towards lawsuit. Because the amount is so high, it may be time to pro-actively contact an attorney. Buyers like CACH usually do not have all of the correct documentation to properly prove their cases in court, when you are defended by an attorney. A bill of sale and a statement would probably not be enough to hold up in court.
  7. I had my credit pulled the day the last collection was removed from my reports that I see via USAA. This month alone I had probably 4 negs deleted.
  8. I didn't ask anything. It was the last thing I was expecting to be honest, and I didn't even know what to say or how to respond. It was for a mortgage, over 150,000. He made mention of a residential report, if that means anything. "(1) a credit transaction involving, or which may reasonably be expected to involve, a principal amount of $150,000 or more;"
  9. So, I finally got my credit scores and reports up. I went ahead and let some lenders pull my credit. Talked to one of them, and he knew about all my recently deleted accounts. This is the first I've heard of this. Whats going on?
  10. Thanks, I do hope so. Ive worked so hard on this. In order to get 3.5% it said I would have to pay 2 full points. Does this seem like alot, is it normal? Should I apply with other lenders as well? Would there be any issue to applying with a broker who might pull my reports 10+ times?
  11. I submitted my application online. It pulled my credit, and said based on my info and my credit information they could offer me the following products, and it listed various mortgages, 30 year, 20 year, etc along with the interest rates and points associated with each. Does this mean I at least made it past AU? It also gave me a GFE. Thanks
  12. Have you tried disputing it with transunion first? I would do that.
  13. Just posted it in the credit forums. Thanks for the responses. Even if the system kicked it out Brian, do you think a manual review would be able to be done with this? I am going to give it a try anyways and let it be pulled, but I'm just looking for any options to give a loan officer if it presents as an issue.
  14. *Sorry, for some reason Its not posting the way I put it in. I put in a screen shot from USAA, and it shows fine to me, but when I post, it becomes all garbled* I posted this in the mortgage forum also This account was opened in 2008. Theres an odd story behind it. In any case, no payments were ever made. Yet, somehow every couple of months it was reported as "ok". I thought it was just a glitch in the USAA reporting system, but when I check my actual equifax report, it does in fact show as ok every few months. So it looks like I have had 120 day lates 9-11 months ago, when in fact no payments have been made in 5 years. On the report it even says date of last activity in 2008. Will the systems automatically kick this out of AU? Will a loan officer be able to understand that if the last activity was in 2008, that the recent 120 day lates are erroneous? Any idea why this wasnt just charged off years ago? XXXXXX Potentially Negative Closed Close Account Details 2 Experian® Equifax® TransUnion® Account Name No Data Returned For This Bureau Account # XXXXXXXXXX XXXX1XXXX Account Type Installment Installment account Balance $1,102.00 $1102.00 Date Opened 7/1/2008 7/11/2008 Account Status Closed Closed Mo. Payment $200.00 $200.00 Past Due $1,020.00 $1,020.00 Payment Status Bad debt & placed for collection & skip Charged off as bad debt High Balance $755.00 755.00 Limit Terms 5 Months Comments CHARGED OFF ACCOUNT Profit and loss writeoff 24 MONTH PAYMENT HISTORY 2010 2011 2012 SEP OCT NOV DEC JAN FEB MAR APR MAY JUN JUL AUG SEP OCT NOV DEC JAN FEB MAR APR MAY JUN JUL AUG 120 120 120 OK 120 OK OK OK OK 120 120 120 120 OK 120 120 OK 120 120 120 OK OK OK OK
  15. *Sorry, for some reason Its not posting the way I put it in. I put in a screen shot from USAA, and it shows fine to me, but when I post, it becomes all garbled* This account was opened in 2008. Theres an odd story behind it. In any case, no payments were ever made. Yet, somehow every couple of months it was reported as "ok". I thought it was just a glitch in the USAA reporting system, but when I check my actual equifax report, it does in fact show as ok every few months. So it looks like I have had 120 day lates 9-11 months ago, when in fact no payments have been made in 5 years. On the report it even says date of last activity in 2008. Will the systems automatically kick this out of AU? Will a loan officer be able to understand that if the last activity was in 2008, that the recent 120 day lates are erroneous? Any idea why this wasnt just charged off years ago? XXXXXX Potentially Negative Closed Close Account Details 2 Experian® Equifax® TransUnion® Account Name No Data Returned For This Bureau Account # XXXXXXXXXX XXXX1XXXX Account Type Installment Installment account Balance $1,102.00 $1102.00 Date Opened 7/1/2008 7/11/2008 Account Status Closed Closed Mo. Payment $200.00 $200.00 Past Due $1,020.00 $1,020.00 Payment Status Bad debt & placed for collection & skip Charged off as bad debt High Balance $755.00 755.00 Limit Terms 5 Months Comments CHARGED OFF ACCOUNT Profit and loss writeoff 24 MONTH PAYMENT HISTORY 2010 2011 2012 SEP OCT NOV DEC JAN FEB MAR APR MAY JUN JUL AUG SEP OCT NOV DEC JAN FEB MAR APR MAY JUN JUL AUG 120 120 120 OK 120 OK OK OK OK 120 120 120 120 OK 120 120 OK 120 120 120 OK OK OK OK
  16. Usaa moves for me, but it is absolutely NOT as sensitive as some of the other FAKO sites. My last collection dropped off today, and USAA fako jumped 21 points for that. Often times it sits silent though.
  17. I have an unpaid collection with a dofd of 8/05 By my calculations, 2/13 would be 7.5 years. It was still on my experian report, so i disputed it online. The dispute is still ongoing. I'm wondering if I can just call them up and ask them to delete it. I really want this gone quickly.
  18. I know that if I dispute an account, and the CRA is investigating, that there is a strong possibility my fico score could change. But what about after the dispute, and in the comment section it says "consumer disputes account meets fcra" or "consumer disputes reported by subscriber" Do these statements have the potential to affect the fico score as well?
  19. Can we clarify what "dispute" comments impact the scores? 1) Account in dispute-reinvestigation in progress- Yes this impacts score 2)Account in dispute Yes/No? 3)Account information disputed by consumer Yes/No? 4)Account in dispute reported by subscriber Yes/No? 5)Consumer disputes account Yes/No?
  20. So a loan that is backed by fannie mae would be considered conventional? Fha is more lenient than conventional Is Usda more forgiving than FHA?
  21. So with the 12 months, if you were late in feb of 2012, can you apply now, or do you have to wait until march>
  22. As far as how stupid they can get, there is really no limit. I am going through a similar debaucle. I have to go through it every few months it seems. I requested a paid in full letter from these clowns when I finally paid it off, so I saved it, and I have to keep sending it in. Every few months they show back up saying one, or some of my accounts are in collections. The ombudsman no longer wants to deal with it/me/us. Calls to the Dept of Ed are painful and not very helpful. You need to WRITE to the Dept of Ed at their texas address, and request your ENTIRE/COMPLETE payment history. Its a painful process wrought with endless frustration. Keep copies of all documents you send to rectify this, for you will have this problem with them again. If you have checks or bank statements showing you made payments, get ALL of those, and make copies of those as well.
  23. I just realized this started a year ago, so any recent advice is probably no longer applicable
  24. I think you really need to find out why you were denied before you do anything. When I started my credit repair journey I was denied by capital one twice! First because the promo code that I entered from a pre approved letter had expired, so I got denied. Then I found a current offer and applied, and I was denied because I had applied within 30 days prior (The expired promo). I waited 30+ days and was approved no problem.
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