08-06-2012 12:08 PM
I have disputed accounts on my credit report because they were still reporting on the reports after a discharged bankruptcy in 8/2008. So I disputed them and told them that these were included in the bankruptcy and to please stop updating the account as I am covered under the automatic stay of the bankruptcy. So they stopped the updating and removed any updating after 8/2008 but they kept my account as "consumer disputes after resolution, account transferred or sold". These are all accounts that were covered under the bankruptcy and last activity was 7/2007 and all have balances of 0$. Are these comments on my report going to hurt me when I go to apply for an FHA loan in May 2013? I read the FHA guidelines posted here but I am confused by conflicting comments. Someone please shed some light on this subject for me. Thank you in advance!
08-06-2012 03:09 PM
Talk with your LO and nail him down on what the official decision is by the underwriter before you mess with them. I messed with mine that were just like yours, it dropped each score like 40pts and the UW said I wouldnt have had to mess with them because they were old and 0 balance. This knocked me out of the prime program and into the 620-639 program and cost me $$$.
11-14-2012 03:40 AM - edited 11-14-2012 04:05 AM
Ron 6262,would you mind if I asked who you went through for financing? Thank you!