@Anonymous wrote:Dec- pre-approved for mortgage.. Average credit scores 660
Set to close in 10 days.
Today I receive a call from my lender saying that a collection has popped up on my credit report amt: $185 dropping my credit score 50 points.
50 POINTS! Resulting in FHA not being an option. I have three weeks max to get my credit score back up.
Paid CA in full then realized I should have went to the OC to see if I could pay them directly and have them pull it back.. The OC now has a case out pending, I should know something next week... Now, I have paid both the CA and OC.
A few other things I could possibly address:
I have an utility bill that is reporting collection and another as a charge off. The collection is still reporting. Unpaid amount $1200 -Should I offer a PFD or just pull it in full?
I also have two others reporting "closed by grantor" one for $200 and the other $ 2,100 -How bad are these hurting my scores?
ANY ADVICE WOULD BE APPRECIATED!!
The CA that popped up doesnt want to stop your deal they just want their money and I would ask them to please remove the collection from your reports.
always try the PFD first but if you have to clear it to close just pay it upon refusal of PFD.
Closed by grantor comments have 0 effect on Fico scores. If there are other derogs on the accounts thats whats hurting. They should still be reporting the CL if you have a balance so its not going to be a total score depresser if they didnt report the CL.
