MORTGAGE LOAN ON HOLD!!! HELP!!

[Superman85]

I am one step away from closing on my house, the deal is though that I have ONE COLLECTION with "COSUMER DISPUTED ACCOUNT" which is holding me back. I've already called EQ, TU and EX. EXPERIAN was the ONLY ONE that did not remove the dispute comment. Their reason was that the tradeline had been disputed multiple times and the creditor has to remove it. I called the creditor and they said they put in the request to remove the remark but that it would take up to 45 days. Experian said it is not true, that if they put in the request via the electoronic sytem it would be immediate. Experian also put in a dispute for me with the creditor twice to remove the remarks, but everytime they've done it the creditor comes back stating no change. I believe the collection agency "Resident Collect Inc" is just lieng to me in order to see if I will pay off the collection since I am in Texas and their SOL is over since its a collection from 2009 that is due to fall off mid next year.

At this point i dont know what to do because if I pay the collection off it might lower my score. I need at least a 640 for FHA loan im applying for. and right now scores our at 653, 670,690.

Any Ideas on what i can do???

[frugalQ]

can the lender do a credit supplement where they conf call with you and the creditor to confirm that you no longer dispute the item and they have removed it from their systems?

i don't know if it works on disputes, but when we refi'd our home in 2012, we had to do a conf call with the credit agency and the creditor for an account that was paid off but not reporting as such on the credit report.

OAN:  I cannot believe your LO has gotten this far and not once mentioned to you that the dispute needed to be removed.  That's mortgage 101, and they should have seen the comment as soon as they pulled your credit report and immediately told  you what you needed to do.  Sorry, i may be out of line, but it annoys me when i read stories like this.

[Anonymous]

Removing dispute comments was one thing my LO was adament about from the get go.  Said she wouldn't even pull my credit until I made all the calls and then followed up to make sure all was taken care of.  I would be a little upset with your LO for this.  No excuse for waiting till the last minute when they know you can't close with those comments.  Removing them can drop your credit score.

[DallasLoanGuy]

google my username + dispute comments.

1st result in google should be my blog article written by shanethemortgageboy

call the numbers.

if you get no satisfaction, hang up and call back.

shane and my clients have had 100% success with this.  do not accept no as an answer.

they are getting thousands of calls per month for this SAME thing....  if the person you get cant help you ask for  manager....  if you get no satisfaction, hang up and call back.

lender should be able to buy new report in 24 hours 

[Superman85]

Dallasloanguy, are you saying I should keep pushing Experian to remove the dispute remarks even though they keep telling me the creditor has to remove it since I've disputed it multiple times?

[DallasLoanGuy]

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@Superman85 wrote:
Dallasloanguy, are you saying I should keep pushing Experian to remove the dispute remarks even though they keep telling me the creditor has to remove it since I've disputed it multiple times?

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yup. 

like i said. just keep calling back until you get someone willing to help.  

[apeydee416]

Filing a complaint with the CFPB is also a good option - its online and only takes a few minutes. Usually get some action within a few days.

[bhnole]

I am having same issue with experian.  The other two removed it no problem. 

Actually subscribed to their monitoring service to finally get someone live willing to help. 

[Superman85]

Bhnole, I'll try and that. What number should i call or ask for after I sign up?