11-10-2011 02:19 PM
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.
11-10-2011 02:22 PM
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.
11-10-2011 02:23 PM
I am willing to bet alot of them dont even know that.
11-10-2011 02:27 PM
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.
11-10-2011 02:33 PM
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.
11-10-2011 02:45 PM
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.
11-10-2011 02:57 PM
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.
IMPORTANT INFORMATION: All FICO® Score products made available on myFICO.com include a FICO® Score 8, along with additional FICO® Score versions based on Experian or Equifax data (additional FICO® Score versions based on TransUnion data are not currently available on myFICO.com). Your lender or insurer may use a different FICO® Score than the versions you receive from myFICO, or another type of credit score altogether. Learn more
FICO, myFICO, Score Watch, The score lenders use, and The Score That Matters are trademarks or registered trademarks of Fair Isaac Corporation. Equifax Credit Report is a trademark of Equifax, Inc. and its affiliated companies. Many factors affect your FICO Score and the interest rates you may receive. Fair Isaac is not a credit repair organization as defined under federal or state law, including the Credit Repair Organizations Act. Fair Isaac does not provide "credit repair" services or advice or assistance regarding "rebuilding" or "improving" your credit record, credit history or credit rating. FTC's website on credit.