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Established Member
Posts: 12
Registered: ‎03-13-2012
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I need help! New 30-day negative as i'm about to get pre-approved.

Hello All,

 

I need some help.  I have 690-710 across the board and just got a negative on my report as of this week.  I have a small company holding my car loan and they called me and left a message last month to say they didn't receive my payment and that it was late.  This is the only bill that I have to send a check for, everything else is done online.  I called back and left about 3 messages in the next few days.  They finally called back, explained the situation and I said I would drive the hour to hand deliver a check.  I got there and they said not to worry.  Now, this week I reveived the alert of a new 30-day late.  I called them and he said it posted on 30 or 31 days late.  So, in order to remove it, it had to be an error on their part and he said they have no error.  He said he won't lie.  However, if they had returned my calls on-time, this wouldn't have been an issue. 

 

Anyways, how badly will this affect me being approved for a loan?  I am finishing paying off cc debt which would raise my score a decent amount, but this will also lower it.  I'm assuming it will stay somewhere the same.  Does anyone know the requirements for a home loan now and if I will be declined all across the board for having this late?  I had a few lates several years ago, but that is it. 

 

Any help is appreciated.

Super Contributor
Posts: 9,674
Registered: ‎01-28-2010
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Re: I need help! New 30-day negative as i'm about to get pre-approved.

[ Edited ]

 

I think it is going to be hard to get approved with a late payment so recently.    It will certainly ding your FICO scores, and I think lenders generally want you to have a year of on~time payments......

 

I'd keep trying with the GW to get them to remove the late payment...

March2010 FICO® ~ 695 TU, 653 EQ, 697 EX
Established Member
Posts: 12
Registered: ‎03-13-2012
0

Re: I need help! New 30-day negative as i'm about to get pre-approved.

Thanks. 

 

I spoke with the company, small company in state, and they said they won't remove it because it was late.  Even though they never returned my calls for several days, and I drove down there to give the payment in hand, they won't remove it.  Very aggravated, but more so I'm upset and sick to my stomach.

Valued Contributor
Posts: 2,661
Registered: ‎04-25-2011
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Re: I need help! New 30-day negative as i'm about to get pre-approved.


Krtits wrote:

Thanks. 

 

I spoke with the company, small company in state, and they said they won't remove it because it was late.  Even though they never returned my calls for several days, and I drove down there to give the payment in hand, they won't remove it.  Very aggravated, but more so I'm upset and sick to my stomach.



While it is true there is no way you can qualify with a brand new 30 day late payment; there is some good that you can take in it.

 

1. Just because they said they won't, doesn't mean they won't. Keep good willing

2. 30 day late will have to be gone by the time of closing essentially, so you really only have 9 months or so before you can really start again, which in the long run isn't that horrible.

 

I think you should start working on getting this removed, its still so fresh, just give it a few weeks and try again.

 

-scott

Starting FICO Score: 10/10: TU 498 | EQ: 502 Current FICO Score(lender pull): 09/14: TU: 784 | EQ: 752 | EX: 784
Collections Removed: Hunter Warfield, CBE Group, Merchants Credit Guide, EOS-CCA, Enhanced Recovery, Portfolio Recovery, UCB, American Collection Company, Medical Business Bureau, Jefferson Capital, Credit Portfolio Associates, FCO, LVNV, Convergent, Armor Systems
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Established Member
Posts: 12
Registered: ‎03-13-2012
0

Re: I need help! New 30-day negative as i'm about to get pre-approved.

Thanks Scott.  So, that is a good point about the 9 months.  In retrospect, it's only the end of winter by then.  I will keep trying in time with this company, but it certainly seems they are unwilling.  What really bothers me is the fact that I called several days in a row and actually hand delivered the payment to make sure it was received.  Worst case, I will wait the several months. 

 

Also, do all loans require a free and clear 12 months of payments?  I'm so frustrated that i've been perfect for 3 or 4 years and now, I am in this predicament.

Regular Contributor
Posts: 171
Registered: ‎04-30-2012
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Re: I need help! New 30-day negative as i'm about to get pre-approved.

In my recent dilema, I was told the following to qualify for an FHA:

 

No mortgage lates for 2 years

No credit or installment lates for 1 year

 

I'm stuck right now....We have 4 of us in a 2 bedroom condo...we are bursting at the seams and hope to be in a new house by next summer....

 

 


Starting Score:5/22/10 590
Current Score: 6/11/13 670
Lender Mid Score: 6/11/13 670

Goal Score: 700


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Regular Contributor
Posts: 209
Registered: ‎01-31-2012
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Re: I need help! New 30-day negative as i'm about to get pre-approved.

Just keep sending GW letters, even after they reject or say no, don't stop.


Starting Score: EQ: 532, EX: 569, TU: 621 (All lender pull 10/15/11)
Current Score: EQ: 660,lender pull 4/13, EX: 671 lender pull 4/13, TU: 691 lender pull (4/13)
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