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CO Pop up in one report EX

Established Member

CO Pop up in one report EX

I am closing  in March,


3 days ago 1 CO $802 pup up in my EX report 


Ex Was my low score 617 last time they pull my credit  


how will this affect My Chances of closing


my Mid score is EQ 668 and TU is 701


This is for a FHA loan and there minimum score is 620 


What do you Guys Recommend me to do?



Message 1 of 5
Established Contributor

Re: CO Pup in one report EX

I'd do a PFD if it's your debt so get it off asap.

-Rebuilding with CapOne Cash: $1.5k, NFCU cashRewards $8.5K, NavCheck $5K, Wal-Mart: $1.1K, Sam's: $1.2K, Amazon: $1.9K, Apple Barclay: $3K, Haverty's: $1.5K, GE capital: $5K, Sears: $250(AU), PP MC:$1.5K, CareCredit:$3K (closed 1st home 05/08/13)
Starting Score: 492-TU04, 480-EX FICO V2, 467-EQ Beacon 5 (Via Mortgage PreQual March '12)
Current Score: EX,EQ,TU (lender pull): 652, 659, 689, Walmart TU FICO: 691 (05/13)
Goal Score: 700

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Message 2 of 5
Established Member

Re: CO Pup in one report EX


I have fax them like 5 min ago a PFD to them 

Message 3 of 5
Valued Contributor

Re: CO Pop up in one report EX

So you got preapproved with a 120+ day late on a revolving account on your credit report? Is it truly a Charge Off or a collection? Usually a charge off occurs after being seriously delinquent on a account for an extended period of time. The creditor then wipes the debt off their books and stops trying to collect. Many times after a CO, the creditor sells the debt to a collection agency. So the next thing that could happen is a collection account could pop up on your credit report. This will really drop your score if it hasn't already took a considerable hit from the CO.

Have you checked your credit score on myfico since the CO reported? If you qualify with a mid score of less than 640, the lender typically makes you jump through more hoops to close. This new CO can possibly cause major issues in underwriting. Could you explain a little bit more about what it is for and the date of first delinquency? It is very likely that you will need to pay it and get it deleted...not just pay it.
Cards: Orchard Bank ($1100) | Cap1 Cash Rewards ($2500) | Chase Freedom ($1000) | Best Buy ($2500) | Discover It ($1000) | Barclay Rewards ($2500) | Current scores: EX FAKO: 684, CK TU: 649, FICO EQ: 680, FICO TU: 698, FICO EX: 658 Happy Homeowner Since 2/6/13! Smiley Happy Last App: 4/5/13 Gardening until July 2014
Message 4 of 5
Established Member

Re: CO Pop up in one report EX



Well  there were 3 collections that got sold and now is With a  Different CO and is only in EX

Message 5 of 5