topic Re: scared to ask in Mortgage Loans

scared to ask

newhouse2013 — Thu, 04 Apr 2013 16:40:22 GMT

My mom told me if I don't want to know the answer to something, don't ask but I need to know this.
I've been working very hard the last year to clean up my credit and I think by August I will be ready to go. However I've been battling with verizon on an old charge off account from 2010 and they just recently dumped four 120 day lates on my report. This account is already paid and it would have been paid in october if they had any competent people working there but no one could find my account.
So my question is when applying for a mortgage ...I know they don't want any lates within 12 months but is that on open accounts or anything listed on your credit?

Re: scared to ask

tooleman694 — Thu, 04 Apr 2013 17:04:11 GMT

This is a huge violation I would just get it removed

Re: scared to ask

newhouse2013 — Thu, 04 Apr 2013 21:17:55 GMT

how would I do that?

@tooleman694 wrote:
This is a huge violation I would just get it removed

Re: scared to ask

Anonymous — Thu, 04 Apr 2013 21:20:24 GMT

You need to send a Good Will letter and ask them to remove the lates.

Re: scared to ask

tooleman694 — Fri, 05 Apr 2013 00:49:10 GMT

Dispute it, saying this is not an installment loan I can't be late on it.

Re: scared to ask

boomhower — Fri, 05 Apr 2013 01:13:53 GMT

@tooleman694 wrote:
Dispute it, saying this is not an installment loan I can't be late on it.

It could certainly be late once couldn't it? It's a contract with a due date. I would assume they are using the 120 mark as most other creditors for a charge off. They certainly cannot have four. Big violations. Keep hard copies of your reports and dispute. Once it comes back verified turn up the heat. You shouldn't have much issue getting that removed completely with a little bit of work.

Re: scared to ask

tooleman694 — Fri, 05 Apr 2013 01:19:08 GMT

I dont think you can be late on a charge off.

Re: scared to ask

Anonymous — Fri, 05 Apr 2013 01:20:52 GMT

Yes. Sometimes an UW will let one 30 day late slide but I have never heard of a one 120 day go through.