topic Re: Sick to my stomach... in Mortgage Loans

Sick to my stomach...

jwpezd — Wed, 27 Mar 2013 21:14:38 GMT

As if I haven't been through enough of a roller coaster today my paid in full sears card that has not shown a late payment since 2010 is showing a KD remark on my march reporting which is reporting as a paid collection. I am sure this tanked my scores. I had already posted in the rebuilding thread as obviously I need this removed. I am set to close Monday at 9 am and am due to get a credit refresh or gap report pulled tomorrow or Friday. I honestly can't take this anymore. Can somebody explain what can happen with this. I have received my clear to close from the lender on Monday morning. They are getting my his put together. The lender did tell me they will be doing a credit refresh or gap report before closing.

Re: Sick to my stomach...

jwpezd — Wed, 27 Mar 2013 22:55:03 GMT

anybody please

Re: Sick to my stomach...

Anonymous — Wed, 27 Mar 2013 22:59:29 GMT

Im a little confused on what happened...

So you have Sears card that is paid in full with no late charges..and out of no where it now shows it's a paid collection? Was it paid in full as a collection account before?

Have you pulled a report from MyFico.com for both Equifax and TransUnion to see what they say your score is?

Re: Sick to my stomach...

Anonymous — Wed, 27 Mar 2013 23:06:54 GMT

Before speculating you need to pull your reports and see what is on your FICO reports.

I am assuming since you said probably tanked your scores you are looking at a credit monitoring service of some type, which means absolutely nothing in the mortgage world.

As mentioned you need to pull your FICO report for scores and if you havent used your yearly free report, I would also pull that as it has the most up to date information available on it, just do not purchase any scores with this report.

Re: Sick to my stomach...

jwpezd — Wed, 27 Mar 2013 23:32:59 GMT

Jm am my biggest cocern right now would be closing on Monday. I know they are going to do a gap report. The lender said that they won't repull my scores. There was no new account added just in march it was reported as a KD. Could this ruin my whole deal after I got a clear to close?

Re: Sick to my stomach...

jwpezd — Wed, 27 Mar 2013 23:35:01 GMT

Re: Sick to my stomach...

Anonymous — Wed, 27 Mar 2013 23:41:15 GMT

Why was it reported as KD? Just out of the blue?

Re: Sick to my stomach...

jwpezd — Wed, 27 Mar 2013 23:44:09 GMT

I have no clue.....

Re: Sick to my stomach...

jwpezd — Wed, 27 Mar 2013 23:45:12 GMT

Sears doesn't either. Is this going to stop my loan?

Re: Sick to my stomach...

Anonymous — Wed, 27 Mar 2013 23:46:20 GMT

I wouldn't think so, especially if it says "Paid collection". If they arent pulling your credit score again, then you should be ok.

I would pay the $15/report and see what your Equifax and Transunion scores look like to see what kind of effect it had on your credit.

Re: Sick to my stomach...

tooleman694 — Wed, 27 Mar 2013 23:54:31 GMT

yup pull em

Re: Sick to my stomach...

jwpezd — Thu, 28 Mar 2013 00:04:24 GMT

I did its not on transunion or equifax only on experian as of now. It hasn't posted info for march on those two. It's not a new collection just reported that way on march..... Will this stop the loan when they do the gap report? My clear to close was Monday.

Re: Sick to my stomach...

Anonymous — Thu, 28 Mar 2013 00:07:23 GMT

I think you'll be fine. They probably look to see if you opened any new credit cards or new loans, things like that.

Re: Sick to my stomach...

jwpezd — Thu, 28 Mar 2013 00:14:04 GMT

That's what I was told. I talked to citi today and nobody could figure it out in fact the three people I talked to felt really bad. They have me am internal fax number and told me to fax a letter explaining the reporting. Unfortunately it is there dispute center. This has been getting paid to citi for the past three years. Not once to a collection agency

Re: Sick to my stomach...

Anonymous — Thu, 28 Mar 2013 00:17:59 GMT

Do not have the account go into dispute.

If you are closing on Monday, I would just let it rest and not worry about the KD.

If there is an issue you will know and address it at that time.

Do not stir the pot which can make things like a dispute pop up which can delay your deal, but not always.

Re: Sick to my stomach...

jwpezd — Thu, 28 Mar 2013 00:30:07 GMT

So wait and dispute till after I close? Do you know if the KD will show up on a gap report?

Re: Sick to my stomach...

jwpezd — Thu, 28 Mar 2013 00:35:39 GMT

Now I am really freaking out I did dispute it through experians website. The results came back updated but nothing changed. This is freaking ridiculous.

Re: Sick to my stomach...

Anonymous — Thu, 28 Mar 2013 00:41:34 GMT

At this point it really doesnt matter. Disputing will not remove it in time.

Technically not every one monitors their reports like us FICO hoochies we are. lol

So your average consumer purchasing a home would not even know it exist, and wouldnt cause anything to stir the pot.

Re: Sick to my stomach...

Anonymous — Thu, 28 Mar 2013 00:43:17 GMT

@jwpezd wrote:
Now I am really freaking out I did dispute it through experians website. The results came back updated but nothing changed. This is freaking ridiculous.

Stay positive!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!

Re: Sick to my stomach...

jwpezd — Thu, 28 Mar 2013 00:47:07 GMT

In your experience have you seen this stopped a mortgage at the point I am at?? I mean I am literally at the finish line right now.