Need help!

[bullitt149]

I need some help,
I have worked extremely hard rebuilding my credit over the past 5 months and am currently in the process of buying a new home. My file is going to underwriting this week with DHI and I received a notice from my credit monitoring that a collection from an old account hit my Experian on Friday. I need to know how to handle this. It's a small balance of $500 so I can pay it but will I need to do PFD at this point. The loan officer pulled my scores 2 weeks ago and I was a 640 mid score and it was Experian that gave that score. Will they pull scores again before closing? I need to get on top of this and need to know what to do.

[guiness56]

They could but it probably depends on your LO.  You might want to just ask them. 

How old is the debt?  Is it only on EX or the other CRAs also?

If you know it is yours you could call and ask for a PFD but it could take them up to 90 days to delete.

[bullitt149]

It's only on one report as far as I know. If I get a deletion letter will that work?

[guiness56]

Work for what?  Your LO?

[bullitt149]

Getting through underwriting.

[guiness56]

Oh.  I would say that depends on how much your score dropped due to the CA being added.

There is a mortgage forum on this site.  You might ask this over there.  I don't want to give you bad information.