No credit card required
Browse credit cards from a variety of issuers to see if there's a better card for you.
I just got a notification from MyFico that a CA was added to my husband's credit report. It says it's from 2013. Not really sure what it is. I think it is from a cable company that he let his mom get in his name. It dropped his score over 80 points but he is still a little over 700. We have already sold our house, had it inspected and appraised. Just waiting for closing date for current house and our new one. How will this affect us? Should we contact CA or loan officer?
This exact thing happen to me and the wife when we bought our house. First thing I would do is contact your LO and let them know..that way there's no surprise at the closing table. Second see if they have already done the second (soft pull) normally a couple weeks prior- up to day of closing. If the scores havent dipped below 700 (620) I dont think It would be a huge factor maybe a bit more in interest or points. Did you do FHA or conventional? For us our mortgage co had already done the second pull and we where 2 weeks out from closing. But he said as long as the middle score stayed pat we're good. Hope that helps.
edit to add.
You may have to simply give an explanation for it like you would any other conditions and move on, worst case pay it. My wife was barely at 630 when we bought so I can't see it killing the deal.
You should contact you LO immediately. This negative can change a lot of things for you and not in a good way
The same thing happened to me and we literally just started the process, we are still in the option period. I called the collections agency and did a pfd. They said that it would be deleted in 7 business days from the date that my payment posts. I spoke with my loan officer and she said it would be fine, so I'm not going to worry. Just waiting for the deletion.
Thanks. Now, it just looks like I need to find out who my loan officer is. I sent an email to him and got an automated response saying he is no longer there, and to contact this other person. Tried that and they are no longer there. Guess I'll pick up the phone now and find my LO.