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Established Member
Posts: 25
Registered: ‎11-07-2011
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Re: Why no advice?

My/our mistakes were the direct result of youthful ignorance. Our parents wouldn't have dreamed about overextending themselves with credit, but they also didn't TALK about money in general, as a generation in fact. So we were on our own to figure it out. And we screwed it up...royally.

 

And now we pay...and write GW letters.

Established Member
Posts: 25
Registered: ‎11-07-2011
0 Kudos

Re: Why no advice?

And while I understand a LO not wanting to get legally involved, he told me I would have to pay off any outstanding items before they would consider it. How difficult would it have been to say that I might want to consider negotiating to have it removed....or even tell me to read up on it.

Valued Contributor
Posts: 1,544
Registered: ‎10-25-2011
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Re: Why no advice?

I am willing to bet alot of them dont even know that. 

My credit journey has completed. I am currently sitting at 800+ across the board.

I started my journey here years ago, and thanks to MyFico, it really is possible.
Established Member
Posts: 25
Registered: ‎11-07-2011
0 Kudos

Re: Why no advice?

After I started this forum my realtor called me and I was discussing this stuff, he had no idea you could get things removed. I could almost hear the mental wheels grinding thinking of all the people he could get in houses with this information.

 

No idea...really?

Valued Contributor
Posts: 1,544
Registered: ‎10-25-2011
0 Kudos

Re: Why no advice?

Yeah..... its just not general practice because for every one person that knows what to do for credit situations, there are 10000 more that have no idea. 

My credit journey has completed. I am currently sitting at 800+ across the board.

I started my journey here years ago, and thanks to MyFico, it really is possible.
Frequent Contributor
Posts: 347
Registered: ‎09-16-2007
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Re: Why no advice?

To be fair, if you work for a mortgage company you shouldn't want to tell people about a PFD.  You should want the credit report to be as accurate as possible so you can appropriately gauge the risk.  If you tell people about PFD, then you'll be giving lower interest rates to people who F'd up in the past but were able to hide it from you.

Valued Contributor
Posts: 1,486
Registered: ‎08-14-2011
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Re: Why no advice?

I don't think those realtors were purposely not helping you.  As others here have said, the realtors very likely just didn't know of all the options you have.  They (hopefully) know about the housing market, mortage rates, etc, but really don't have any reason to know details about how to increase your credit score.  All they know is get your credit score up to get a lower rate.

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Established Member
Posts: 25
Registered: ‎11-07-2011
0 Kudos

Re: Why no advice?

True, but a mortgage brokers bread and butter is getting people in a mortgage. If they don't write deals, they don't profit.

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