10-29-2013 12:15 PM - edited 10-29-2013 12:16 PM
Been reading a ton of threads and Im having a hard time coming up with a definitive answer to my situation...any help would be appreciated.
In process of getting a mortgage but need to boost my Equifax up 1 point to qualify for better pricing. There is a DEROGATORY PUBLIC RECORD OR COLLECTION FILED on my report. The debt was mine, but it has been paid off for a few years now, but this status would suggest that Equifax is still reporting it as unpaid I assume. I do have a copy of the Satisfaction of Judgement letter given to me by the court showing the debt has been paid off for years. My lender is suggesting a "rapid rescore" to try to boost my score. If we did this rapid rescore, and presented the Satisfaction of Judgement letter to them, would that boost my score at all?...or would it just update as "paid" on the report but not really help me score-wise as a Collections/Public Record is still a negative even if paid?
Thanks in advance.