So the UW wants to know why I have an overdraft line of credit with a balance. I don't know how to craft the LOE. The last LO told me I needed to settle a large collection ($9k settled and deleted for 1900) in order to move forward. I explained that it would put a dent in my savings so he suggested the overdraft loc because it would also show on the credit report and help my score. Any suggestions ?
12/11/12 Starting Score EQ FICO - 583/ TU FICO - 615/
4/1/13 - Lender Pull - TU - 645 EQ - 675 EX 712
Each One - Teach One
