Posted on: 29th May, 2010 06:49 pm
I have been approved/eligible for a home. I have a dispute on my credit report that the collection agency agreed to delete off my report once I paid it. My LO said that she needs to get a new copy of the report to give to the underwriter to clear to close. What exactly are they looking for? My LO also said that they are not rescoring so is there anything that I should be worried about. I have 6 more days to close.
They must be looking to see if the collection was actually removed. Did you pull your reports after paying off the CA to verify that they did actually follow through with their agreement and delete the collection?
â€Hi Georgia,
‎If you haven't yet checked the status of this account on your credit report, then you should check it now. See if the negatives were removed. However, can I know whether or not you got the deletion agreement in writing? If you have, then you can use that to dispute the status of the account if it has still not been updated.
‎Another thing is that, there is a rule according to which the lender will check through your credit report a second time before actually giving you the loan. This is done to check if you have applied for any other new credit after you had applied for the loan.
‎Thanks,
‎Sandra
‎If you haven't yet checked the status of this account on your credit report, then you should check it now. See if the negatives were removed. However, can I know whether or not you got the deletion agreement in writing? If you have, then you can use that to dispute the status of the account if it has still not been updated.
‎Another thing is that, there is a rule according to which the lender will check through your credit report a second time before actually giving you the loan. This is done to check if you have applied for any other new credit after you had applied for the loan.
‎Thanks,
‎Sandra
They are probably getting a credit report supplement. The credit agency simply notes the account as paid rather than being open with a balance due.
There is no credit rescoring.
There is nothing to be concerned about.
There is no credit rescoring.
There is nothing to be concerned about.
the credit report supplement will indicate if it will be removed or not
all lenders use it to see the status of the tradeline
nowadays you can believe that a lender may pull a new credit report
in some instances....even removing a negative tradeline can drop your score especially if it was a really old tradeline.
sorry to say that you wont know until the UW gives a clear to close
all lenders use it to see the status of the tradeline
nowadays you can believe that a lender may pull a new credit report
in some instances....even removing a negative tradeline can drop your score especially if it was a really old tradeline.
sorry to say that you wont know until the UW gives a clear to close
