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Cherylbelinda

Old Medical Collections back on report - in process of firstime home buy

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HELP!


I am in the underwriting process of applying for a mortgage.


Today,I received a notice from my credit union credit monitoring system that two new accounts were added to my credit file.


I subscribe to transunion credit monitoring and they didn't have it showing in it's entirety yet, but something was there.


They are two medical collections accounts.


I went back and looked at old credit reports and found that these accounts had been on my credit report back in 2014 but for some reason they were gone.


Now as I try to become a first time homebuyer here come these walking dead accounts.


Please advise what i can possibly do?


I am crying because i have spent money on appraisal, home inspection, earnest money and I really want this house.


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There was thread here called your Collection score a Mortgage App Brings all the Skeletons that havent been reporting because they know u have to pay them.

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The below is copied from another post:

Can you break down the accounts by OC (original account holder or creditor, and/or whether it was a state, private, or nonprofit hospital), CA (collection agency or debt buyer where the debt currently is), amount, and DoFD (first nonpayment occurrence that led to the charge off)? Having unpaid collections accounts does not always mean that you cannot get a mortgage. Often all you have to do is pay them or start a payment plan.

I'm aware that this will not help you, but for others who come across this thread: This is exactly why members of this board so often recommend to do a test/dummy mortgage application 6-12 months before seeking a mortgage. CAs sign up with all of the major CRAs to get alerts when someone applies for a major loan like a mortgage, knowing that they will likely have to pay.

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HELP!

I am in the underwriting process of applying for a mortgage.

 

 

Today,I received a notice from my credit union credit monitoring system that two new accounts were added to my credit file.

I subscribe to transunion credit monitoring and they didn't have it showing in it's entirety yet, but something was there.

They are two medical collections accounts.

I went back and looked at old credit reports and found that these accounts had been on my credit report back in 2014 but for some reason they were gone.

Now as I try to become a first time homebuyer here come these walking dead accounts.

Please advise what i can possibly do?

I am crying because i have spent money on appraisal, home inspection, earnest money and I really want this house.

Pay them and close escrow.

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