topic Re: Rapid rescore.. help! in Mortgage Loans

Rapid rescore.. help!

Anonymous — Thu, 03 Jun 2021 22:26:42 GMT

My lender told me to pay down a loan to a specify amount, which I did. My score did reflect correctly for a few days. Now the account I paid down is showing closed, but I still owe on it. This made my score drop back down, which makes me not qualify for a mortgage loan! Is there anything I can do?! I have called Experian and the loan company which everyone says it's reporting accurately. I would prefer not to have to dispute this because of the potential mortgage loan. What should I do? Wait it out?

Re: Rapid rescore.. help!

Mortgage-Specialist — Thu, 03 Jun 2021 23:23:29 GMT

If your lender already captured your scores and pulled your credit when your scores were higher,, there will be no need to pull a new credit to see that your score dropped after that

Re: Rapid rescore.. help!

Anonymous — Thu, 03 Jun 2021 23:24:48 GMT

The lender did not pull it when the score was higher and she told me even if it's fixed I have to wait until after the 13th of this month for her to pull them again.

Re: Rapid rescore.. help!

Mortgage-Specialist — Fri, 04 Jun 2021 00:13:30 GMT

I've never heard of a waiting period like that before. Never had to wait to repull

Re: Rapid rescore.. help!

Anonymous — Fri, 04 Jun 2021 00:55:45 GMT

I thought the same as well. Maybe I need to switch lenders..

Re: Rapid rescore.. help!

Anonymous — Fri, 04 Jun 2021 00:58:12 GMT

She is saying the reason for waiting is because her mortgage score will not update until then. I thought you could pull scores anytime. As long as I am going by myFICO 5,4 and 2 it should be accurate. I pay to pull it in between reporting dates.