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cimbrone
Posts: 19
Registered: ‎09-18-2012
0

Rapid Rescore Worked In 96 hours

I have been posting like crazy the last few days and thought I would post an update.

 

We applied for a mortgage and were shocked when my husband's scores came back in the 690s. We discovered he had a medical collection for $55 on his account that we never even knew about. Our first lender told us that there was no way we would be able to get it above 720 (even if we did a rapid rescore) to qualify for a jumbo loan so he wouldn't preapprove us. I found another lender who looked over our reports and told us if we could get the collection deleted that his scores would jump at least 90 points. It turns out the collection agency had already told me they were going to delete the account so I called them and asked them if I could pick up a letter from their office. (As a side note, I never actually asked for the deletion--I didn't even know that was an option--but the collection agency and the original biller offered it to us after they realized we had in fact paid the bill (there is more to the story but I won't get into it). They were actually very nice and helpful.) We sent the letter to the rapid rescore folks on Monday and just this morning (Friday) we recieved this:

 

XPN went from 692 to 790

TU went from 704 to 792

 

I don't know what the Equifax numbers are, but I will check them later.

 

The bad news is because we had to wait for this, we lost the house we so desperately wanted (again, there is more to the story but I won't get into it). The frustrating thing is that if FICO 8 were being used I don't think this would have been an issue. Regardless, I am so glad to have this behind me and I am now going to concentrate on getting our scores even higher (mine are in the 780s) for the next house that comes around. Unfortunately, these houses don't come around very often, but that's okay we'll be ready.

 

Thank you for this great forum and your advice. I hope this gives people some hope that rapid rescore can work. :smileyhappy:

 

 

Moderator Emeritus
llecs
Posts: 32,869
Registered: ‎08-04-2007
0

Re: Rapid Rescore Worked In 96 hours

Very nice increase!

Moderator Emeritus
webhopper
Posts: 7,225
Registered: ‎09-16-2011
0

Re: Rapid Rescore Worked In 96 hours

Very nice increase Congrats!

Mortgage folks can work wonders on updating your credit reports via rapid rescore. Mine went toe to toe with santander in 2011 and came out ahead!

Starting Score: 08/29/2011 TU 671 EQ 674
Current Score: TU 754 EQ 694 EX 697
Wallet: NFCU Visa Sig 25k, Amex Lowes 22k, NavCheck 15k, Amex PRG, Amex Zync, Discover It 13.5k, Amazon Visa 5k
Platinum Spade Garden Club Member: App Free since 1/1/13. No more apps til who knows when?
MyFICO Fitness Goal: 800s Club!



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Shogun
Posts: 12,952
Registered: ‎04-15-2011
0

Re: Rapid Rescore Worked In 96 hours

Nice job!


Starting Score: 504

July 2013 score: EQ FICO 819, TU08 778, EX "806 lender pull 07/26/2013
Goal Score: All Scores 760+, Newest goal 800+

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Current scores after adding $81K in CLs and 2 new cars since July 2013
EQ:809 TU 777 EX 790 Now it's just garden time!

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