@Anonymous wrote:
Hi Robert,
Are you saying that if I settle my mortgage account and they report to the credit reporting agencies as settled for less than full, I should not see an impact to my credit score? I think this is what I am reading. Please confirm.
Jenny
Unfortunately any notation of "settled" on an account is scored the same as a charge off. It doesn't matter whether it's paid in full or not. Scoring looks at the word "settled". But under a manual review it will look better to have a debt paid off.
From a BK years ago to:
EX - 3/11 pulled by lender- 835, EQ - 2/11-816, TU - 2/11-782
"Some people spend an entire lifetime wondering if they've made a difference. The Marines don't have that problem".
