topic Re: Well, I guess I'm about to kiss my almost house goodbye... in Mortgage Loans

Well, I guess I'm about to kiss my almost house goodbye...

Anonymous — Mon, 21 May 2012 01:36:02 GMT

I just had a second old collection account pop up and be reissued as new. This one from 2006 and a medical one. The previous one was from 2007 and some bogus collection. My reports now say that I have 2 NEW collections and my scores have tanked. I had originally posted about this issue here because I needed help in regards to my HOME PURCHASE not REBUILDING MY CREDIT, but it was moved anyways.

Whatever.

I had contacted my broker with the first issue and she had "no clue" what to do about it or any advice to give me. Really?? I thought a broker would have some type of idea what kind of effect this would have on my ability to get a loan. I'm really not impressed and very very very unhappy with this whole entire situation. Now I get to call this ignorant lady ( NOT WHO I WAS INITIALLY WORKING WITH) and tell her that situation #2 has happened that she doesn't know what to do with.... Then tell her if she doesn't have any advice for me she can take this contract and shove it. I'll take my earnest money back and continue to pay rent. My credit was almost 700 4 weeks ago... Now it's right below a 600!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!

I'd cry if I wasn't so ticked off.

Re: Well, I guess I'm about to kiss my almost house goodbye...

Anonymous — Mon, 21 May 2012 01:43:26 GMT

Sorry to hear this. I don't have any input other than to wish you well and to say that you may want to do the 'opt out' feature (not sure if this is what it is called) on your credit report to block creditors/collectors from being able to view your credit report. I heard that collectors sometimes look for those who are applying for mortgages in hopes of sticking them with old collections and forcing them to pay. Heard of this before?

Re: Well, I guess I'm about to kiss my almost house goodbye...

Anonymous — Mon, 21 May 2012 01:47:59 GMT

@Anonymous wrote:
I just had a second old collection account pop up and be reissued as new. This one from 2006 and a medical one. The previous one was from 2007 and some bogus collection. My reports now say that I have 2 NEW collections and my scores have tanked. I had originally posted about this issue here because I needed help in regards to my HOME PURCHASE not REBUILDING MY CREDIT, but it was moved anyways.

Whatever.

I had contacted my broker with the first issue and she had "no clue" what to do about it or any advice to give me. Really?? I thought a broker would have some type of idea what kind of effect this would have on my ability to get a loan. I'm really not impressed and very very very unhappy with this whole entire situation. Now I get to call this ignorant lady ( NOT WHO I WAS INITIALLY WORKING WITH) and tell her that situation #2 has happened that she doesn't know what to do with.... Then tell her if she doesn't have any advice for me she can take this contract and shove it. I'll take my earnest money back and continue to pay rent. My credit was almost 700 4 weeks ago... Now it's right below a 600!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!

I'd cry if I wasn't so ticked off.

If you applied for an FHA loan you still have hope.

FHA rules are changing and depending on the lender may require you to pay off the medical collection and possibly the other collection depending on how much is owed. If you have the funds to pay them off or settle with them as long as they agree it is settled in full you may still have a chance at being approved. FHA still approves loans with credit scores as low as 580, it really is up to the lending institution.

Hope things turn out okay for you.

Re: Well, I guess I'm about to kiss my almost house goodbye...

Anonymous — Mon, 21 May 2012 01:48:16 GMT

I had opted out back in November and didn't start this process until Jan/Feb... and yes, I have heard of it before. I filed a complaint with the BBB for the first one. I just got the hit for the 2nd one today. Neither one sent me any type of "dunning" notice, and the creditor for the 2nd one is the same one that has held it all these years. I had insurance at the time and the hospital didn't bill them. I'm not giving them a penny. If it costs me the house, so be it.

Re: Well, I guess I'm about to kiss my almost house goodbye...

Anonymous — Mon, 21 May 2012 01:56:17 GMT

It is FHA and I'm not worried about the new rules because received my FHA number back in March when we went under contract and discussed this with the initial person I was working with. My HUGE issue is that I am going through a down payment assistance program and HAVE to use this broker (why I had to change people, same company different office due to contracts with the non-profit)... they want a 640.

I really am so discouraged right now. I worked really hard to get my scores up over the past few years and thought I really had a chance at buying a house to have a home for my kids... and so proud that I had worked so hard and was able to do it with just me... I've been sitting under contract since March 9th... waiting... and the only thing that has happened is my credit getting screwed.

If they are old debts, how do they tank your scores???

Re: Well, I guess I'm about to kiss my almost house goodbye...

Anonymous — Mon, 21 May 2012 02:07:18 GMT

@Anonymous wrote:
It is FHA and I'm not worried about the new rules because received my FHA number back in March when we went under contract and discussed this with the initial person I was working with. My HUGE issue is that I am going through a down payment assistance program and HAVE to use this broker (why I had to change people, same company different office due to contracts with the non-profit)... they want a 640.

I really am so discouraged right now. I worked really hard to get my scores up over the past few years and thought I really had a chance at buying a house to have a home for my kids... and so proud that I had worked so hard and was able to do it with just me... I've been sitting under contract since March 9th... waiting... and the only thing that has happened is my credit getting screwed.

If they are old debts, how do they tank your scores???

Depending how old they are they may not be on your credit reports for long.

While some have said that collections do not impact your scores as much as time passes I have not personally experienced that. I had a very large increase to my scores once my negatives were finally cleaned up but no real change from them aging.

In your case even though the debt may be old it is still a NEW fresh collection added to your report so I am pretty sure it is dinging you heavily. Do you know how old these debts are? Do you know if the SOL has expired? Do you know when they will fall off?

Re: Well, I guess I'm about to kiss my almost house goodbye...

Anonymous — Mon, 21 May 2012 02:15:01 GMT

They were already on my reports... and had sat for years... now they've been renewed but the date of first delinquency was changed to May 2012. Statue of Limitations in my state is 7 years. One was due to fall off mid next year and the other was only 4 1/2 years old. I haven't had a single negative on my credit since 2007 and now these get reissued. How can they keep renewing them? It's like double jeopardy, especially since I don't owe one at all and the other should have been billed to my insurance. By the time I realized I had a collection (moved 4 times and never had a notice) it was already 2010 when I found out I could pull my reports for free.

Re: Well, I guess I'm about to kiss my almost house goodbye...

Anonymous — Mon, 21 May 2012 02:50:15 GMT

Sorry to hear this is happening to you.

Maybe you can try filing another BBB complaint and get the account off your report.

Re: Well, I guess I'm about to kiss my almost house goodbye...

IOBA — Mon, 21 May 2012 04:16:56 GMT

LondonMassey - there is a chance the lender wont' pull credit again before closing and not know about them. (But even if they do pull the credit, they can see it wasn't there before....so something is fishy cuz you would not sabotage your house over something like a medical bill.)

BUT just in case they do, have a letter of explaination ready to go and be quick to point out that the collections are 6 yrs old and 4.5 yrs old. That they are not really "new".

Opt out NOW!

And let us know what happens.

Re: Well, I guess I'm about to kiss my almost house goodbye...

Anonymous — Mon, 21 May 2012 05:14:50 GMT

I agree with IOBA. They may not run it again!! Praying for you!!!

Re: Well, I guess I'm about to kiss my almost house goodbye...

Familywantsahouse — Mon, 21 May 2012 10:04:28 GMT

I would keep fighting the good fight. Also, file a complaint with the AG office. Even if the debt is legitimite, clearly they are playing games based on the mortgage app. Have you tried for a PFD?

This happened to us back in Feb after our initial lender pull (which was done by a friend just to see where we stood) It was a blessing actually scores were low because all the gremlins came and and SO FAR nada after this mortgage app.

Don't give up, maybe they won't repull and maybe if you hustle you can get them OFF!!

Re: Well, I guess I'm about to kiss my almost house goodbye...

Walt_K — Mon, 21 May 2012 14:55:13 GMT

@Anonymous wrote:
They were already on my reports... and had sat for years... now they've been renewed but the date of first delinquency was changed to May 2012. Statue of Limitations in my state is 7 years. One was due to fall off mid next year and the other was only 4 1/2 years old. I haven't had a single negative on my credit since 2007 and now these get reissued. How can they keep renewing them? It's like double jeopardy, especially since I don't owe one at all and the other should have been billed to my insurance. By the time I realized I had a collection (moved 4 times and never had a notice) it was already 2010 when I found out I could pull my reports for free.

Pretty sure they can't do that legitimately. You could disptue the DOFD. But I would hold out for other people's advice about initiating a dispute while in the middle of the loan approval process. I don't know what effect correcting the DOFD would have on your score.

Re: Well, I guess I'm about to kiss my almost house goodbye...

rckstrscott — Mon, 21 May 2012 15:09:08 GMT

@Walt_K wrote:
@Anonymous wrote:
They were already on my reports... and had sat for years... now they've been renewed but the date of first delinquency was changed to May 2012. Statue of Limitations in my state is 7 years. One was due to fall off mid next year and the other was only 4 1/2 years old. I haven't had a single negative on my credit since 2007 and now these get reissued. How can they keep renewing them? It's like double jeopardy, especially since I don't owe one at all and the other should have been billed to my insurance. By the time I realized I had a collection (moved 4 times and never had a notice) it was already 2010 when I found out I could pull my reports for free.

Pretty sure they can't do that legitimately. You could disptue the DOFD. But I would hold out for other people's advice about initiating a dispute while in the middle of the loan approval process. I don't know what effect correcting the DOFD would have on your score.

are you sure the DOFD changed and not just the DOLA?

-scott

Re: Well, I guess I'm about to kiss my almost house goodbye...

Anonymous — Mon, 21 May 2012 20:20:24 GMT

I'm not sure if it has been suggested already but try to do a PFD if you can! I have not had any new collections to pop up but I did manage to get rid of some existing ones by PFD. They updated to the CRAs quickly too. Dont give up!

Re: Well, I guess I'm about to kiss my almost house goodbye...

webhopper — Mon, 21 May 2012 21:10:07 GMT

@Anonymous wrote:
They were already on my reports... and had sat for years... now they've been renewed but the date of first delinquency was changed to May 2012. Statue of Limitations in my state is 7 years. One was due to fall off mid next year and the other was only 4 1/2 years old. I haven't had a single negative on my credit since 2007 and now these get reissued. How can they keep renewing them? It's like double jeopardy, especially since I don't owe one at all and the other should have been billed to my insurance. By the time I realized I had a collection (moved 4 times and never had a notice) it was already 2010 when I found out I could pull my reports for free.

A Rapid Rescore should fix this problem... They can't just change the DOFD because of a whim, that's illegal. If this costs you a house, I would find a lawyer and SUE.

Re: Well, I guess I'm about to kiss my almost house goodbye...

Anonymous — Mon, 21 May 2012 21:23:47 GMT

In my anger fueled BBB complaint (still was professional but stern) I must have included my cell number and not my home number because the corporate office called me this afternoon. Unfortunately I was at an appointment for my son and wasn't able to answer but I called the number back since they didn't leave a message.

I am willing to PFD the first one for an amount that I owe, which is at most $100 not the $208 they want and sure not the $389 I was initially hit with in 2007.

The other one is a medical collection that is over $1000 and I can not pay in full for a PFD.

Anyone know if CA will PFD for only part?

Also, I contacted my broker today. Now she is pulling my credit again to see the damage which means another hard hit.

The DFD IS listed as 2012. It wasn't an update, was put in as if I defaulted this month on a current bill.

I'm so frustrated. I wish the broker would just say LOE and all is fine

Re: Well, I guess I'm about to kiss my almost house goodbye...

Booner72 — Mon, 21 May 2012 22:17:53 GMT

RobertEG will come along and tell you that changing the DOFD is a serious infraction and the law codes you can use when you fight the CA for doing this.

GGGRRRRRRRRRRRRRRR

Re: Well, I guess I'm about to kiss my almost house goodbye...

gsxraddict — Mon, 21 May 2012 23:09:41 GMT

don't waste time, send them an ITS with 48 hours to respond, if they don't then be waiting at the courthouse bright and early to file suit.

Re: Well, I guess I'm about to kiss my almost house goodbye...

Anonymous — Tue, 22 May 2012 02:52:08 GMT

Ugh! So I received the "dunning" notice today for the first one for $208 (of course it was sent AFTER I CALLED the initial time and stated I never received any notice). I called them on my cell phone and without stating any information they already knew who I was, which means they had logged my cell number (I assumed they would and would have called from a different number if I hadn't been so ticked off) so the call I received today was just a collection call. I asked if they would do a PFD if I paid it right on the spot to get rid of it and she said they don't do those. So I told her then the damage has already been done and my credit score as tanked because of the CA illegal acts, so what would be the purpose of me paying any money if it does nothing to assist me in rectifying the damage they have done.

She said that it would help me by paying a "new" collection... I reminded her that the DOFD was in 2007 not 2012 and she said it shows in our system as being from 2007 and I asked why her system says 2007 and my credit report says 2012. I asked again for a PFD and she said they don't do them, so I told her I would continue with my complaint to the BBB, Contact the FTC, AG, and an attorney and that I have proof of the original DOFD from the original creditor and credit reports every 4 months for the past 2 years, and a most recent pull of all 3 (lender pull) within the last 90 days. Told her to note on my account that I'm getting my ducks in a row and that I don't want any more calls to the number they put on record (cell phone) as it isn't one I can use to handle such ridiculous matters. That my home number is listed with EX, EQ, and TU and they can call there as much as they like. (I'm never home to answer it.)

I guess I'll see what the total damage is so far when the broker gets back to me with the new pulls (and hard hit )... The other account is over $1400 and I really just don't know what to do with it. I can't pay it, I tried to settle it a few years back and they wouldn't. It's from a private Catholic Hospital out here and they didn't want to budge at all.

Thank you all for your responses... BTW, I did opt out before I even started this mess, so obviously it didn't help with this crap... or maybe I just have horrible luck.

Re: Well, I guess I'm about to kiss my almost house goodbye...

Anonymous — Tue, 22 May 2012 03:45:45 GMT

London, I know it is stressful, but I wouldn't worry too much about it. They are not being truthful with the DOLA and the bank will verify that. My lender did a credit supplement on some duplicate student loan accounts for my husband. They weren't late or in collections, but they did affect our DTI. Don't stress until you have too.