08-24-2013 07:29 AM
I have been through the mill with the whole credit score and mortgage preparation stage of my life. I want to share some of my unfortunate experiences so if anyone out there is thinking of applying for a mortgage they will not go through the trouble we have gone through.
First before you even think of doing anything contact Equifax, Experian, and Transunion vis fax & letter requesting for them to opt you out of any and all pre-screenings. Simutaneously go to the opt out pre-screen website and opt out there as well.
Second, Do not use any trial "free" credit score offers, in the fine print when you do this you will be opted in again! Which will cause them to sell your credit info to anyone that may want to collect old/junk debts...and they will tank your score if they succeed!
The above scenario happened to us 4 times!!! We didn't know why we kept getting these strange old invalidated debts on our credit report...I have written over a dozen letters, contacted many consumer agencies, and spent a lot of $$ on certified mail to clear these and it has been a major stress on me and my family.
After I thought everything was taken care of, about 10 days ago I decided to see if my husband's Experian score was increasing, so I went to credit.com to see I got a really pretty 710 score, with a grain of salt, that score is just a guide....well...we JUST got an alert his score tanked 28 points!!! some other strange junk debt with vague information popped up!!! Now I do not know if this was credit.com or Experian because 2 weeks ago I requested the free trial for his report!
Now, after we were ready to submit our loan....we have to now start the process again with disputes, validations, certifications, calls, faxes....Lord help us!
So, with that said we may be in jeapordy of losing the home that is being built now because the USDA in my area is expiring and we only have 2 weeks...this is down to the wire!!
I hope this will help anyone out there. I hope you will take heed and do as I suggest.
If anyone out there has a word of encouragement for me/us I would greatly appreciate it.
08-24-2013 08:10 AM
08-24-2013 08:13 AM
08-24-2013 09:58 AM
My husband is going to call on Monday to get all the details on the debt that just posted, but it is not a small amount it is $742. We have never had any bills for this amount and have paid everything on time for the last 2.5 years! So, to pay something that doesn't belong to us is wrong. We are not sure exactly where his scores were at before this recent event, but I know his EQ was 652 also his TU was in the same bracket....not sure of EX, the score I got was from EX and as you know that can be way off.
I hope it gets fixed before the deadline. I understand we may have to pay this to make it go away, but we are already nearly clearing our savings and this amount is too much for now.
08-24-2013 10:09 AM
Thank you frugal Q. yesterday I felt like throwing in the towel.
08-24-2013 10:27 AM
Forums posts are not provided or commissioned by FICO. Forums posts have not been reviewed, approved or otherwise endorsed by FICO. It is not FICO's responsibility to ensure all posts and/or questions are answered.Advertiser Disclosure: The listings that appear on myFICO are from companies from which myFICO receives compensation, which may impact how and where products appear on myFICO (including, for example, the order in which they appear). myFICO does not review or include all companies or all available products.
* For complete information, see the terms and conditions on the credit card issuer’s website. Once you click apply for this card, you will be directed to the issuer’s website where you may review the terms and conditions of the card before applying. While myFICO always strives to present the most accurate information, we show a summary to help you choose a product, not the full legal terms - and before applying you should understand the full terms of products as stated by the issuer itself.
IMPORTANT INFORMATION: All FICO® Score products made available on myFICO.com include a FICO® Score 8, along with additional FICO® Score versions. Your lender or insurer may use a different FICO® Score than the versions you receive from myFICO, or another type of credit score altogether. Learn more
FICO, myFICO, Score Watch, The score lenders use, and The Score That Matters are trademarks or registered trademarks of Fair Isaac Corporation. Equifax Credit Report is a trademark of Equifax, Inc. and its affiliated companies. Many factors affect your FICO Score and the interest rates you may receive. Fair Isaac is not a credit repair organization as defined under federal or state law, including the Credit Repair Organizations Act. Fair Isaac does not provide "credit repair" services or advice or assistance regarding "rebuilding" or "improving" your credit record, credit history or credit rating. FTC's website on credit.