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Found 131 results

  1. Some of you may have read my prior posts about US Bank. Was informed today they will NOT change the reporting to CRAs as they feel it is correct. It is not. As there has been some success with CLIs when contacting execs directly, or exec customer service, is it worth making one final attempt that way (CEO, Chief Risk Officer, Director of Accounts, etc) or has enough effort been made to resolve this and the best option remaining is to contact an attorney and sue them? Thanks!
  2. My husband and I filed a Chapter 7 in May 2011 and received our discharge October 2011. We will eventually be doing a VA loan and I know we have to wait until our 2 year anniversary before we can obtain that. We've reestablished credit history since the BK with one new auto loan and a few new credit cards. Utilization on our cards is pretty good, but I plan to have those paid in full prior to buying a home. We have another auto that we reaffirmed during the bankruptcy and we owe about $14K on that. My question is, what kind of experience has anyone on here had obtaining a construction loan? I'm a little naive to this process, but we plan on building a new home rather than buying an existing. Do I have to do a lot/land loan for the property first and then obtain a construction loan? Will it be much more difficult to get a construction loan than it would be to just do a VA mortgage loan? Thanks in advance for the advice!
  3. Good morning everyone. About eight ( october 2012) months ago I started the journey of getting a new home. My wife and I started to build from the ground up. When we first started this journy and pulled our first mortgage app my three scores were all in the low 500's. I knew this would not cut it, I also had a foreclosure in 2009 and knew that would only add to the burdon. Well after the first pull every voulture in the world attack what seemed to be all at once and I though I would never be able to fight them off and figured the mortgage would never happen. Well after a ton of hard work and a ton of help from Icanhasmuny and all of her knowledge I was able to fend off every singel attack all while improving my score. So in November we findout we are pregnant with our third child we were so excited! Soon after we found out it was a boy! We already have two wonderful girls. So my determination went into overdrive, I did everything perfect and followed all of the great advice here, especially Icanhasmuny. So in March we get the word that our scores were all over the 620 minimum to qualify! Finally my scores improved over 115 points on each report! WOOOOOOOO! There was one problem though, we still could not get an automated approval, because Chase bank decided that after they charged off our second mortgage in 2008, that they would hit us with a random 180 day late two years later in June of 2011 effectivly reseting the two year clock for negative mortgage activity for the VA. I was told that we would be going manual and I know how that usually goes. The auto kept saying negative mortgage activity in the last 24 months. So I started fighting Chase over the random 180 no go for three weeks, hours on the phone daily, tons of letters and could not get anywhere. So I dug further and eventually had employees admitting to me on the phone that there was no reason for the 180 but the credit department refused to change it. So I dug further, I find out that Chase has basically NO information on the loan, nothing! I demand to know how they are reporting like this if they don't even know it the information is true! Finally I sent a letter to Chase investigation department with very specific questions, I got a responce that they were looking into it, guess what, never heard back. But something interesting happend in the beginning of April, all of the lates on every report were erased on the second mortgage except for one 30 day late and one 60. The reason being, they had no proof or any idea of any of the other dates they were reporting. A few weeks later I get a call that we got the automated from all of my hard work! We were so stressed and tired and beat, I was up all hours of the night researching, checking alerts, writting letters, I was beat! Then tragety struck our family. On April 24th 2013 we went in for our 25 week check up on the baby, this is where we were told his heart had stopped beating and that our son Jacob had passed. It was son confusing because everything was going perfect! This was not a misscairage, on April 25th 2013 at 4:25 am in the morning ,our 13" long 9 oz son was born and delared dead. This was the most horrible thing that has ever happend to my family. We sufferd for weeks there was so much pain. We had Jacob cremated and his ashes are wit hus now. Yes we had to deliver our dead son as a still birth. Everything was going so well after all of the hard work I did and we were all so excited and our world crashed. My next fear was that if we lost out on the house that this would just add to the pain and dissapointment for me my wife and two girls who are 10 and 6. I worked so hard, did everything asked of me with no complaints to the processor or anyone else in the mortgage side I just wanted the house for my family. Once we got into underwriting I was going to die from stress and worry, but the loan came back with no additional conditions for me, all conditions were for everyone else! Well on June 7th 2013 my wife and I finished our closing at 11:00 am and the loan was funded at 12:30 pm and we had the keys by 1:00 pm. This has helped a lot with the recovery as it is allowing our minds to be else where for a little while, but let me tell you just writing about the loss of my son made me break down, it still hurts like nothing I have ever felt. Any way I want to say thank you to everyone here for all of their great advice and for sharing their stories. But a special thank you goes out to Icanhasmuny, without your advice and help I probrably would not be a home owner today, thank you so much! I will post a pic of the house later. Again thank you, David
  4. I am trying to have 2 mortgage company remove 1 foreclosure and one charge off from my credit. Any help or guidance would be greatly appreciated. After legal separation from my ex husband, he had the terms of the primary and secondary mortgage changed without my signature or knowledge. In regards to the primary mortgage, he exercised an option to extend the Interest Only payment that was set to expire after 5 years. The option was to extend for an additional 5 years. Which he changed during a legal separation. On the secondary mortgage, the payment was based on principal and interest, he changed to interest only without my signature or knowledge. Additionally I was never notified of the foreclosure in writing by either lender. Does the terms changing without my consent and while I did not reside in the home help in getting this foreclosre removed? Or is there any other way to fight this with the lender or credit reporting agencies? Thanks!
  5. Quick question about raising my score before we go for a refi, especially now that rates are starting to rise. Wife and I are recovering from a bad stretch in '08, and have been on time for 3 years + on everything now. Unfortunately, we have a couple of 90 and 120 day lates from that time. We also have a fed lien I am working on getting withdrawn before we go. I also have 1 collection from a emergency room visit 3 years ago. I have paid the hospital, but the doctor sent it to a CA and when I tried to call the doctors office, they transferred me to a CA as well. I went ahead sent a PFD for 50% of the balance to see if it is accepted. I may send another soon for full amount PFD, just to get rid of it. My wife has a recent credit card and a HD CC, other than that, we have been strictly cash. Have a CIti account that was closed and we are paying down the amount owed still. My score ranges (both FAKO and actual) are all mid 600's (just got notification on a bump from EX to 689, but not sure why yet. Looking at 3-5 months before we can refi (due to the length of time to get the liens withdrawn), so using that time to try and clear the late payment info. Should we go ahead and open a new CL or 2, or even CLI the HD CC (currently at $1k)? May go ahead and pay for full reports again to see where we stand. BofA just transferred our primary mortgage to GreenTree, after doing the same to our secondary 2 years ago. Because of that, my wife shows a 11 point drop....grrrrrr....
  6. I've had a joint mortgage account with Wells Fargo since 2006. It is reporting accurately on Experian and TransUnion however, it is incorrect (only for me-not my husband) with Equifax. My Equifax report states that the last payment was made 9/2011-but this is a current account. The last payment reflecting for my husband is correct (June 2013) and it is correct with Experian and TransUnion for me. I disputed it directly with Equifax and it came back verified with the following information: "The following changes were reported for your WELLS FARGO HOME MORTGAGE account: Balance Amount Changed from $XXXXXto $XXXXX. Comments on your account changed from Consumer disputes - reinvestigation in process, Consumer disputes this account information, Real estate mortgage to Consumer disputes this account information, Real estate mortgage, fixed rate" Somehow they are changing the balance due every month but not showing a payment! How is this even possible? Well, here's my question...what do I do to correct this? I don’t want it to report as if I were nearly 2 years late on my payment or as if I have closed this account! I'm in the process of drafting a letter to Wells Fargo to correct their reporting...however, I'm a little stuck. I'm fairly new in my credit repair and I've only had to dispute with the Credit Bureaus so far...should I just call them? HELP!
  7. As previously noted, a friend was having issues with US Bank, specifically errors in the reporting of the monthly statuses from 2012. Prior to 2012, there were numerous lates and even the start of the foreclosure process, which were not in dispute. Along with the diligent efforts to get the 2012 errors corrected, a separate goodwill letter was sent asking if anything could be done about the earlier lates? OK, no progress on the 2012 issue, and friend has been assured by US Bank that will be resolved by COB on Tuesday the 11th. However, yesterday ALL lates prior to May 2011 were removed. So now from the opening of the mortgage in 2007 to today, the only thing that shows late are the errors from 2012. My question is: The removed everything (even going way beyond the scope of what was requested) but were quite careful to NOT remove any lates in the last 24 months. Is this normal? As basically what matters most is the last 24 months, was it that as long as THAT was reported accurately they did not care to remove everything outside that range? I will let you know how the errors are resolved (or IF) tomorrow, but just wanted to know if anyone else has this sort of experience?
  8. Recently relocated from Ohio to Maine. Unable to sell home in Ohio so far, and was counting on the proceeds to be my down payment. New employer is covering all closing costs, including points, so just need down payment. Not a first-time home-buyer, obviously. Make too much to qualify for USDA loan, even though new town is rural enough that property would qualify. Not a veteran. That eliminates most of the 100% financing options I have seen. I know most of the seller assistance tricks went away with the housing crisis. Pre-approved for a mortgage. Current DTI, including mortgage is 10%. Would still qualify for new mortgage even if I did NOT sell the other home, as DTI would still be under 25%. Basically spent thousands fixing up the old house to sell, and thousands more relocating, and am left cash poor for a few months. Could save the 3.5% for an FHA in 6 months or so, but doubt the home I want to make an offer on will last beyond summer. Are there ANY options still out there where I can get money for a down payment?
  9. hello first i want to say this forum and the information on it has been a great help in repairing my credit. i was able to obatain an NFCU rewards card with a 14,500 limit that i would have never known about if it were for you guys! thank you sooooo much! so now i am in the process of trying to refinance my HELOC on my home. it has a 105000 credit limit and a 95000 balance. my home was paid off before this and i had some repairs to make to it and paid off cars and remodeled my home a little bit. so my question is, how hard is it going to be to get this taken care of? my home is worth and appraises at 170-180k and i would need to refinance the 95000 so i can close that out and have a normal payment. i realize now after being on the forum and reading and educating myself that i never should have gotten one let alone thru the company i used. american general now springleaf because the interest rate is ridiculous and almost all of my payment goes to interest. i have a 914 dollar payment and almost 700 of it goes to interest. i pay extra as much as possible but its become a losing battle. its an 11 percent interest rate. now that i have repaired my credit i feel i should be able to obtain a refinance. my freecreditscore.com score says experian is 732 but i realize this is a fako or whatever they are called. any advice is welcomed and wanted. i just would like to lower that 900 dollar payment and have more of the payment go to the principle. what should my next steps be? thank you for your help!
  10. Hi all, newbie here trying to wade through conflicting information from a mortgage broker, bank lender and online information. My fiance and I are looking at purchasing a home. Income isn't a problem, and neither is her credit, but as the lower of the two, my credit is. Mine currently sits at 599/583/537. My question: What is the minimum score for an FHA loan and what's the best way to go about raising these quickly? Items affecting score: $90 medical bill: COLLECTIONS. Trying to pay for delete. $146 Verizon: COLLECTIONS. Trying to remove. $2,005 on $2,000 credit card: PAID OFF IN FULL. Paid last week, hasn't reflected in score yet. Was never late, but was my only credit card. $17,255 auto loan with 4 over-30 payments: PAID OFF IN FULL Other credit: $6,000 in student loans: Paid on time for almost 7 years now. The mortgage broker advised working to get bad items removed and having my fiance add me to her credit cards. A bank lender, however, said that last piece wouldn't work and that there's no benefit to my credit for being an authorized user of someone else's card. If I was to be added and receive credit for it, they'd need to do a hard credit request to see if I was eligible to co-own the account. Which is right? The bank lender is also proposing I take out a $3,300 secured loan for 12 months, as well as get a secured credit card. They're also trying to get my fiance to take out a personal loan to consolidate her credit card debt, but at a rate of 5% higher than her credit cards (they said she could refinance to a lower rate once her credit improves). The lender's reasoning being getting those credit cards freed up would raise her revolving credit-to-debt ratio and look better for potential lenders. That said, lenders won't be using her credit score, they're using mine. We'd be looking at another $200/mo. (until we refinance) if we move those credit cards to a personal loan. Is that really worth it, especially if adding me to those cards wouldn't do any good? What's my best plan of action in terms of getting more credit? Should I move ahead with a secured loan and a secured credit card? Should we add me to her or other family members' credit cards? Should we consolidate some of her credit card debt into a personal loan? Thanks for the help! Have learned a ton already, but feeling stuck here. -jasper13
  11. Here is one perhaps someone can offer advice on? A friend has a mortgage with US Bank. In September 2010, fell 30 days late. Sent payment for September and October in late October, just before 60 days late. Payment was returned by US Bank (apparently at that level of lateness, must be certified funds) and US Bank immediately sent notice of foreclosure. A Forbearance Agreement was entered into December 2010. Basically, US Bank leveled nearly $5K in legal fees and demanded payment in full of all delinquent months. So the delinquency (which by now was nearly 90 days) was paid in full immediately and the $5K in legal fees were paid by adding an additional $400+ to each mortgage payment for the next year. Sounds like rape to me, but better than losing the home. All payments were made in certified funds by the first of each month during 2011. Fast forward to March 2013. Friend applies for a mortgage, and is OK for FHA, but turned down for conventional because US Bank reports the most recent episode of being 90 days late as January 2012. Friend disputes this with CRAs, and it comes back verified. Letters written to US Bank at address provided by CRAs, and is informed reporting is accurate. Friend starts calling US Bank, talking to anyone and everyone, trying to get an answer. And finally hits gold. Apparently, when an account goes into a Forbearance Agreement, all payments are deposited in a 'suspense' account. This account only gets 'swept' by US Bank every 90 days. So this follows what the credit reports show. Paid up as of 12/2010. Then 30 and 60 behind before next sweep brings it current, then pattern repeats. Apparently, it took longer at the end of the 12-month agreement, as that hit 90-late in January 2012 before returning to current. The issue is, there is nothing in the original loan paperwork, nor in the Forbearance Agreement, which states payments will be applied and reported this way. Basically, the last late payment was 12/2010. With that nearly 30 months old, friend would have qualified conventional. As reported by US Bank, last 90-day was only 16 months ago, so it is FHA or nothing. Can US Bank continue to report it this way? If payments are made in certified funds by the first of each month, does the borrower need to suffer such credit damage due to the lender's accounting practices? If not, any advice on how to get this resolved?
  12. Me and my G/F decided we wanted to start getting our paperwork together to meet with a lender to get pre-approved. Now this was not an overnight decision; we talked about it for months. We had great FAKO scores and not one blemish between the two of us until a couple weeks ago. I received a notice from experian about a change on my report and it turned out to be a $50 medical collection (copayment) that I didn't know about. All of the notices were mailed to old addresses. I'm currently going through the "HIPAA Process" to get this removed and WhyChat is graciously walking me through it in the Medical collection forum. I did however somewhat mess up the process by trying to fix it myself in the very beginning and am having doubts about it being removed. With all of this being said, my real question is: What are my odds of getting preapproved for a 40k - 70k, single family home, with a DTI of 18% between the two of us, and now a 650 average FAKO score for me and a 730 FAKO for her? We make about 22k a year combined.
  13. Hey all, I have a second mortgage from Chase. My 80/20 was owned by Chase so they had both loans. The home foreclosed in September 2008 and the second charged off in Feb 2009. The house was resold in early 2009 ( may or april ). Once this happend the "second" should have been reported as an unsecured installment loan. In nov of 2011 Chase extiguished the loan and closed it out, but still reported it as a second mortgage. Being that the property was resold and in order for that to happen Chase has to drop or remove the lien on the title for the second mortgage in order to sell the property, which makes the second unsecured at that point. Now because this is still reporting as a second mortgage closed settled in full previous charge off I am getting denied automated approval because it keeps spitting out negative mortgage activity in the last 24 months. How do I get Chase to correct the reporting code to unsecured installment loan from second mortgage? I mean does not the mortgage have to be secured by real property? I even had a rep from chase state to me that it is listed in their recoreds as an unsecured loan, but they refuse to send me a letter stating that so I can get it changed through a dispute. Please help. D
  14. We recently decided to buy a condo and had just paid off all but 13% of the credit cards debt. I was waiting for the scores to jump up as my utilization was way above 80%. Then, couple days ago .... I looked at my credit and noticed a collection account on all 3 CRA's for a little over $800 from collection agency called Debt Rec Sol (Debt Recovery Solutions?). I think this was for a debt for an account I closed in 2006 (almost 7 years ago). I am in the State of Illinois and I think the SOL is 5 years here. I believe the debt is for a charged off checking account which is now gone (as of 10/2012) from ChexSystems. I have never received any paperwork from this company and believe I was previously able to delete accounts with this amount from all 3 CRAs. I understand that I should be sending them a DV letter but is there any faster way to deal with this since I believe this is past SOL in this state and I am in the process of getting a mortgage? ​I would appreciate any guidance in this matter. Thank you! niko
  15. Hi CBers, I'm looking for information on how to lift (temporary, if possible) a fraud alert. I visited each CRA but found no direct answer except by doing it via snail mail (I want to do it faster). My loan officer states I need it removed but I have other loans from NFCU that didn't need this requirement. HELP!!!! I'm trying to close at the end of the month.
  16. I think I'm close to seeing the light at the end of the tunnel, but I'd like some advice on a few things. Long-ish post. I have 3 negatives left on my reports, 30+ positive accounts. For simplicity I'll use the credit.com snapshot thing. The negative accounts are a charge off from a bank account I forgot I had which ran an overdraft, a collection account that will fall of this May, and an old Wells Fargo . I've written the bank, called, begged and pleaded but they won't alter it at all. Wells Fargo also hasn't been very helpful. I sent a GW letter, and they sent me back the entire payment history and basically said "tough". A total of 16 late payments all on the WF card, 6 of them greater than 90 days. Wells Fargo and the charge off from the bank are both 4 years old now, and no late payments since then on anything. From November through January, I did the following. Opened a NFCU Visa, limit of 10K now. I used the BT offer to move all my revolving debt do that card. I owe 4K on it and am putting 1K a month to it to pay it down quickly. For this month it is reporting 7.3K but I paid 3K to it with the sell of a motorcycle. USAA for 4K, it's my daily card and I PIF. Walmart, Victoria's Secret, Chase, all for $500. I still have my Star card with an $8700 limit, no balance. I use them every few months and PIF, though I usually pay them as soon as the charge shows so they haven't reported a statement balance. Harley-Davidson motorcycle loan for 16K, NFCU auto loan for 15K. I plan on applying for a mortgage next summer so want to have a good amount in savings even though I'll be doing a VA loan. My scores at the moment are 673 through Walmart, and 675 through DCU. I'd like to be in the 700s, preferably 730+ as PenFed has really good rates and I know they want a higher score. Will I reach my goal by then? I don't plan on applying for anything new, if I don't get auto-cli then I just won't ask. Also, should I give up on Wells Fargo and the bank or should I keep sending them goodwill requests until they either do it or send me a court order to stop?
  17. I'm a newbie and have been reading a lot and I think I'm more confused that when I first started this process! I am trying to clean up my credit after realizing how bad it was. We are trying as hard as we can to be able to qualify for a VA home loan and need to clean up our credit as soon as possible. I know that I need 12 months of no late payments and a score around 640. Here's a run down of my current credit status: TU: 662 - April (590 - March) EX: 593 - April (585 - March) EQ: 610 - April (578 - March) I've been really trying to pay my payments on time and have not had a late payment since November. I also got a VISA through Credit Union with 1K limit. This last month looks good with my scores, but when I just checked my report it's showing 2 late payments from my old bank for a loan. I did call and explained my situation with the loan person and she said she would look into getting those off my report. Payment was due 3/1 and wasn't paid (husband's fault, we changed banks and didn't have money in account to pay for loan payment) until 4/5, but report was sent to credit bureau on 3/28 when loan wasn't 30 days late. Also report says it's late for March and April. I asked for a goodwill adjustment over the phone and that's what she's checking into. If that doesn't work I'll maybe try a written goodwill letter. The late payments last year were from student loans that were not late but were in consolidation, but were reported late. I have talked with student loan people and they said they couldn't take the late payments off the report, but I have not sent anything in writing and wasn't sure how successful student loan late payments were at getting removed.
  18. Hi CBers!!! I attempted to search for the answers but had no luck so I'm asking for advice from those who know...I'm looking at a townhouse that I consider a bargain and I'm preapproved for a VA Loan if I'm going to move on it, but I was wondering if adding a new mortgage to my CR will have an effect on my AAOA as I'm currently at 2.1 yrs due to app spree in December. If so, wouldn't it be a positive effect as I've read from FICO reports that I don't have a mortgage or auto loan presently. Thoughts??
  19. Went thru a divorce, house was awarded to me, but had to refinance. Tried to refiance only to find out a lien byexhusband. So refinance fell thru, after 3 yrs he filed for bankruptcy and got lien remved but economy changes, i had to get a modification because of income. but now I find I cant refinance house because my credit has declined and the value of home has plummet. But I have to get him off mortgage. Any suggestions?
  20. I need some experts advice on my credit situation. I am staying in US fro 2005. Till 2009 my credit history was good, I cleared two auto loans, no delinquencies or late payments or no black marks on my file. In 2009 I went to vacation to my home country. When I am there my employer told due to peak recession and bad company situation, he said there is no job for me any more and I need not come back to US, and my visa has been cancelled. By the time I have a Line of Credit upto 10K $ and other credit cards etc, a total of approx 25K debt. Since I have no job, source to pay them back in US, I didn't pay most of them. All accounts went to delinquencies, collection agencies, charge off etc., After couple of years, with some other employer I came back to US in 2011.Now I am getting letter from some debt collection agencies. The questions I have: 1) How to make sure the Original Credit Issued company hand over to the Debt Collection Company is accurate or not? Or is it a fake debt collection company? 2) Its almost 4yrs i was delinquent,, so do I need to pay all this or after how long these will go off from my credit file/history? 3) In Future say after 2016 (after 7yrs from Initial delinquency) If I apply for mortgage, will these delinquencies/debt collections show on my credit report? Experts please help me with answers/suggestions. Any info/links will help me a lot. Thanks in advance.
  21. I've been working in my credit for the last 6 months and the only things that I have in front of me right now are to collection items (medical bills) lingering around for another 2 years. I've disputed them and they came back valid. I offered PFD for the full balance a few months ago, but they won't even take a payment in full to delete. The total for both items is no more than $650 altogether. Will these 2 items hinder me from getting a great interest rate on a mortgage if my UTL is only 6%, no late payments, AAOA is 8yrs, and only 3 INQs?
  22. I'm saving money to buy a investment property. In a few months I will be able to have enough to buy a condo all cash. Someone in this forum told me to get a bank that would finance 25% of my deal and I will put down 75% to start a credit file under a new business that I will create. I've being working for cash for the last 2 years and my income was the minimum amount on these years. Now, my personal credit doesn't exist. I had some problems with bank checks and overdraw a few years ago, due to job losses, that If a bank check NCPS I can't even open a bank account. Even with all theses problems, I will open a LLC to invest in Real Estate and hope that can find help or guidance in this forum. Thanks
  23. My plans are to buy a home this year if possible my scores was looking bad at the end of the 2012 (eq-617, tu-582, ex-588) talked with a realtor and he sent through dhi buyers club the guy was suppose to help me get things off of my credit and he only wrote a letter for the things that was already due to fall off he also said I needed to get a couple of credit cards to establish current positive credit lines. I still continue to tweek my credit report to remove negative information. as of today my scores are eq-646, tu-622, ex-637 but I have applied for numerous credit cards starting the end of 2012 until now and have a lot of inquires (21). I'm done applying for cards....any advice will be greatly appreciated
  24. The buyer of my house had a VA pre-approval from an out of state lender (MO). We did not know he had a previous VA loan that was surrendered. His elgibility for caivers clearance was 2-23-13 but none of us were aware of the 45 day waiting period. We were suppose to close on 3-6-13 but are now on hold until the lender has a written caivers clearance. Does anyone know how or who can help him get a clearance without waiting the full 45 days?
  25. Hello all, I need advice ASAP. I'm scheduled to close on a home in late April. The mortgage company called Friday. They had overlooked a collection account from Midland that was in dispute on my credit report. I have to remove the dispute in order to close. My question is, should i settle? Will removing the dipuste lower my credit score significantly? Anyone who could shed some light or tell me my best course of action, I would appreciate. The account is outside the statute of limitations, yet is still reporting on all three credit bureas for around $430. Thanks in advance for your thoughts.

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