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Posts: 1
Registered: ‎10-28-2012

Should I switch brokers?

I am a single teacher in NC and decided that with the low interest rates and high foreclosure rates, now would be a good time to buy.  In September, I called a realtor to see if a home was still on the market and she talked me into using her as my realtor. I knew that I needed to get a preapproval before I really started looking, but she told me it shouldn't be a problem and that she wanted to show me some houses.  I ofcourse fell in love with a foreclosure that I could afford and she refered me to a mortgage broker she knows (turns out it is her sister).  Her sister ran my credit and it showed it was about 30 points below what it had been when I last checked.  It turns out my student loan company misreported something and I had to submit documentation to the broker so she could dispute it.  The issue was taken off of my credit and she said she would rerun my credit to bring up the score.  During this time, the house I wanted sold and the marker pretty much went empty. 


When I asked her a week later what the deal was she ignored me until I sent her an email explaining I would not be working with her anymore if she did not think she could tell me where she was in the processs.  She told me that the correction did not bring up my score yet but would if I waited 3 months or so.  My question is why would she rerun my credit knowing it would take three months? She also told me that she was putting in a special request for  a USDA loan for me even though my credit score is low.  She told me I would know the next day if it was approved.  I heard nothing from her the next day, so I waited a day and then I asked her if there was any news. She condescengingly told me I would be the first to know when she found out.  I realize that she is working to fix my credit, but is it normal to promise people something and then ignore them? I do not feel like that is a good way to gain new customers.  I realize that it might seem obvious that I sHould go with another company, but she has already taken my information, run my credit, and supposedly sent in a request for a preapproved loan.  Will switching make my credit score go down any lower? Help please! My lease is running out, and I do not want to rent for another year if home ownership is a possibility. 

Moderator Emeritus
Posts: 7,225
Registered: ‎09-16-2011

Re: Should I switch brokers?

Rapid rescore only takes a couple of days. You should fire her; dispute the credit report on your own. Does your lease allow you to extend on a month to month basis; or to sign for 6 months?

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Posts: 1,115
Registered: ‎10-31-2011

Re: Should I switch brokers?

Yes I would FIRE her I mean we tried to look at a few short sales and foreclosures and our realtor was strongly apposed to showing us because of all the headaches that come with them and I appreciate that she did that......But our realtor was would think with a job that is 100% commish that they would be bending over backwards for you.


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