We are currently trying to refinance and really frusrated. Need some advice/direction....
On my hubands's CR it shows "Account Information Disputed By Consumer" which was suggested by our Mortgage Broker to contact CRAs back & Dispute in 11/12 which we did because he said that if the companies don't respond the dispute in question drops off after 30-45 days. Well it didn't fall off & still remains & it was our fault for not following up.
My husband recently contacted Home Depot about the dispute statement and wants that statement dropped off (per the direction of our Mortgage Broker as the Automated Underwriting System says it is hindering our ability to refinance). We received a letter from Home Depot Card Member Services stating" We have received your request to update credit information on his CBR. Our records indicate that the information appearing on your credit report is correct. If you waish to add a brief statement of explanation to your file, you may contact the CRA to whom we report your account information. This will become part of your credit record, which they retain." The list the three CRA contact information and website and at the bottom of the letter they said "The account has been reported as disputed to the credit bureaus. Please allow at least 30 days for them to update their files. We appreciate the opportunity to explain our position."
I spoke to our Mortgage Broker today and he says that we should contact a credit repair company. Our Mortgage Broker met with the owner of the credit repair company he is suggesting and our Mortgage Broker's coworker has sent clients to this credit repair place and has had tremendous success with them. He said we should tell the credit repair company that we need the disputes removed or, better, the derogatory information removed. The company wants $199 and then about $99 for each month there after and the average is about four months. I looked at the website and it looks like a ton of Advertisements, no address just a local delaware number and a toll free number. I check them out on the BBB and no listing.
Oh great wise ones out there in FICO land with knowledge and experience. I am absolultey stuck and frustrated. Please help.
Thank you in advance!
