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08-10-2011 11:04 AM
08-10-2011 11:37 AM
So what is going to happen, do you know yet? Do you mean that you did not get approved through the automated system?
08-10-2011 12:09 PM
LO told me that the conditions were to remove that Dispute comment and for them to Rerun my Credit so it would be removed. I assume they did a Rapid Rescore because they got that done in 2-3 days. With my new scores, i dont not pass the AUS which i assume iis the Automated Underwriter System? THat was the requirement. She said i dont have many options because Manuel underwriting would be worse because i do not have many Active Tradelines. At this point i could extend my contract and hope my scores go back to normal. Only reason it may go up is because EQ told me sometimes this happens with Rapid Rescores. They need to rescore it correct by Verifying but they didnt give me a 100% grantee.
So all i can do is, Extend contract. Try to fix my credit this way. Maybe Settle with Them and get the points back BUT we are running a credit smiulator before we do that. OR last have my mother be a co borrower.
What else can i do ?
08-10-2011 12:47 PM
AUS is automated underwriting, yes.
Could you become an authorized user on your mother's credit cards to help your tradeline history? It might be worth looking into.
Is your mom willing to be a co-borrower? How would that make you feel about owning your own home? Is this something you want or would you rather wait to do it w/o her help?
Unfortunately, besides getting some AU accounts going and building up your own credit with time, I don't have any other ideas - hopefully someone else will soon.
08-10-2011 01:06 PM
Ive been working on it bro... The issue is, my father and i have the same name, Im III he and jr. Many of his credits have come to my credit reports. I have gotten a few removed. SOME i had to pay and settle with giving me a headache. He refused to assist me by removing them or contacting them. This one issue doesnt belong to me. I have a secured credit card which has only had about 5 month of history and its good. I have a few closed accounts that were paid off. Thats about it.
My mother may be a co-borrower, its been discussed. But i may be out of luck on this.
08-10-2011 10:39 PM - last edited on 08-10-2011 10:43 PM by MarineVietVet
With all due respect but something doesn't sound right on your lenders part and the credit company they are using. I recently closed and I too had to have disputes removed from my credit report. My lender used Credit Technologies and they submitted to the agencies the request to remove the disputes and once they received notice they were removed they did a rescore and my middle score jumped up 30 points to where we needed it to be to get an automated approval and move forward to submiting to USDA. You need to crack your lenders because it dropped due to their vendor and not because of anything you did. They could have easily have gotten you to write a letter explaining the dispute instead but they opted to do it the hard way and now you're the one suffering.