Ok, This is another stressful situation...
I am in the process of a short sale. Wells Fargo will pull another credit application before closing I am sure. Not a problem, as I had 3 items on my credit report when first puled.
Derog 1 $715.00 asked to pay by underwriter, I paid for delete and was granted by RJM
Derog2 $130.00 I paid since it was a small item and I was able to Pay for delete with RJM
Derog 3 $295.00 Fell off on its on due to age
Although Derog 1 &2 have not came off yet, hopefully they will by the time we pull my credit report before closing. Even if they dont my commitment letter with conditions still considered these items.
This will leave me clear of all Derogs UNTIL I received a letter about 3 weeks ago from a CA regarding a Tmobile account in the amount of $180.00 I instantly shot off a dbt validation letter as I could not recall why Tmobile would send me to collections on a prepaid phone. Sadly they validated with account statements where I learned that it was for an early termination fee (yes on a prepaid phone and I called to confirm with Tmobile and this was correct) Monday I will shoot off a PFD although it has not hit my credit reports.....yet. The DOFD per the statements is only 1.9 months old.
Worst case scenario if I am unable to resolve by closing and the next credit pull and it shows up on my report even paid, can the underwriter still have reason to deny my loan? I am unsure of current middle score as when they first pulled it was only 619, which I know it is higher closer to 638 or higher as I mortgage shopped later and was told this. Keep in mind if the derogs fall off due to PFD I will hope they will go up a bit more. RJM is reporting EVERY month, and I am sure they will until they pull it from the CRA, this may be keeping the scores low.
I guess my main concern is the new derog item even if the other items are off by the next credit pull.
Thanks!
