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I'm SO frustrated, mad and lost!!!!
DH and I just purchased a 2nd home (signed yesterday). We were originally approved w/ auto underwriting (scores 690 to 705). One month later, loan officer ran credit report and it got kicked back in auto financing b/c of a "foreclosure" on our current home in 2005. I pulled EQ and TU and it shows nothing about a foreclosure (we were late but never foreclosed). So, DH pushed back on the bank after reading Fannie/Freddie regs and said that if they pulled a copy of the deed and there was nothing, that they could do a manual underwrite and push the deal through. Bank pulled a copy of the deed and - it didn't show anything (b/c it never happened)! We got the loan, but b/c of this we were forced to put 20% down rather than 5% that we had planned (we had to have a 720 to get PMI w/ the "foreclosure" on our report). Interestingly, this just appeared the 2nd credit report run in November - have no idea why it changed. The loan officer provided us a copy of the mortgage enhanced CR and there is nothing in the boxes for Litton - it is in the notes -- says foreclosure. So, there isn't anything for me to dispute on my EQ or TU b/c it doesn't show a foreclosure . . . but the mortgage enhanced from CBC and Kroll Factual show foreclosure in the comments. In the box where is shows lates, it shows a "count" of 5 times - but we were only late 3 (they list the dates -only 3) so the loan officer and person at Factual thinks its a coding issue.
I have spent COUNTLESS hours repairing my credit score (400's to 700's-did take 4 years) and I know most all of the tricks, but I am simply at a loss of where to go with this! We have tried numerous times contacting Litton and we get the answer that they don't show foreclosure - but somehow, the mortgage enhanced score does?
I am begging for someone to help. I REALLY want this fixed - I don't want this on my report for 2 more years!!! I would like to get it resolved and refi the home so we can pull our liquid cash back out (if possible).
Someone, please give me a place to start. I can't dispute with EQ or TU b/c it doesn't show but don't know where else to go?
How bad were those lates? 30, 60, 90, 120?
If there is a 120 day late then it's considered the same severity as a foreclosure/automated underwriting will underwrite it as a foreclosure.