topic Re: Is now a good time and a question for those in the know.... in Mortgage Loans

Is now a good time and a question for those in the know....

Anonymous — Tue, 07 Apr 2015 14:41:13 GMT

My FICO 8 scores have been steadily improving since starting this journey. 2 out of my 3 scores are now over 700. I pulled my EX today since that's my mid mortgage score and it's gone from 635 to 643!!!! EQ is 620 (per Score Power) and TU is at 666 as of 3/13. With that mid score I should be ok in apping for the refi. ...my only question is that I have one account that I disputed back in November, but it's an old CO account, PIF years ago. I disputed because of how it's reporting. I've read that you don't want any dispute notations on your CR's. It's the same account on all 3, should I see about having it removed or wait to see if it's requested that I do? It's not set to fall off until next year, and is a CITI backed card and they won't GW remove it.

I'm getting anxious....

Re: Is now a good time and a question for those in the know....

ezdriver — Tue, 07 Apr 2015 15:03:28 GMT

I recommend that you remove the dispute now and give your credit profile a chance to recover before applying for a mortgage. If you wait until an underwriter directs you to do it, you risk a score drop at the worst possible moment in the process.

Re: Is now a good time and a question for those in the know....

Lemmus — Tue, 07 Apr 2015 16:41:19 GMT

...as ez said, better now than later because they will require it be removed

...if you are within a year of the dofd on that paid account you should try asking the crs for an early removal ...search the rebuilding credit forum for ways to go about it

Re: Is now a good time and a question for those in the know....

Anonymous — Tue, 07 Apr 2015 17:12:05 GMT

Thanks...that's what I thought. I wish they were within a year, but sadly, they are about 15-18 out.

Re: Is now a good time and a question for those in the know....UPDATE

Anonymous — Wed, 08 Apr 2015 19:30:04 GMT

So I requested the dispute removal from TU and EQ, yesterday. Haven't had a chance to call EX yet. Got an alert from myFICO that my EQ score had changed...dreading that it went down, I logged in and to my surprise, it's up 10 points to 692. I bought my report and saw that the account in question was removed from my CR, 18 months early. Now my mortgage score hasn't gone up, but that's ok since it's my lowest mortgage score right now. Waiting to here from TU...but they told me up to 72 hours, so we'll see. I know that YMMV with the CRA's but I thought I'd share my experience, so far with removing a dispute.

Re: Is now a good time and a question for those in the know....UPDATE

Anonymous — Thu, 09 Apr 2015 00:45:33 GMT

Great news! Keep us updated.

Re: Is now a good time and a question for those in the know....

Zorasmiles — Thu, 09 Apr 2015 00:51:43 GMT

@Anonymous wrote:
My FICO 8 scores have been steadily improving since starting this journey. 2 out of my 3 scores are now over 700. I pulled my EX today since that's my mid mortgage score and it's gone from 635 to 643!!!! EQ is 620 (per Score Power) and TU is at 666 as of 3/13. With that mid score I should be ok in apping for the refi. ...my only question is that I have one account that I disputed back in November, but it's an old CO account, PIF years ago. I disputed because of how it's reporting. I've read that you don't want any dispute notations on your CR's. It's the same account on all 3, should I see about having it removed or wait to see if it's requested that I do? It's not set to fall off until next year, and is a CITI backed card and they won't GW remove it.

I'm getting anxious....

Congrats on the early TU removal! GL with EXP and EQ