Charge Off

[daninicole]

My husband and I are looking to apply for a mortgage next week (lender suggested wait to middle of month to pull scores). We have been cleaning up credit and paying down bills. I had a charge off from First Premiere but I disputed it and I received a letter saying that the account would be removed from my credit reports. I received it on August 20th and it said it may take take 60 to 90 days. Well my question is, if this account is not taken from my reports before we apply for the loan, can I show the LO the letter I received from them as proof. We are in a time crunch because we are hoping to build and we have child #2 on the way and if we can get building by November we can hopefully build and be done by end of February when the baby is due. We are living with parents with a three year old and space is really tight. Can't fathom adding a baby to an already cramped space. If it showing the letter wouldn't work if the info is not removed from the reports, I guess we would have to wait, but we really don't want to.

[DallasLoanGuy]

depends on the loan officer.

just ask

[TimeToRecover]

this is actually 1 situation where some of the freebie sites can come in handy.  go check out CK and see if the account is still there (that will tell you if was removed from TU) or pull from my fico and see if it is gone.  then you will know 

[daninicole]

Yes I check the sites everyday and I know that it has not been removed. It will be removed according to the letter I received from First Premiere I was just wondering if it wasn't before we applied for our mortgage, could I show the letter for proof that it will not be on my reports. The time frame that the company had it removed would be from October 20th-November 20th (60 to 90 days from date of letter). The lender is going to pull our scores on October 15. Again, I was just wondering if the letter would suffice if the info was not gone before we applied.