Approval Expires 11/28

[PixieQueen80]

My loan approval (2nd one since under contract) expires tomorrow (11/28) and I am nervous as all outdoors because after every mortgage pull some new creditor pops something on my report.  I can not think of any outstanding debt that I have but is terrified that something I don't remember will surface.  I have been nervous for the past 2 weeks because I have been under contract since 6/2/2011 and the closing date is unknown due to some lot consolidation issues which prevent getting a title but I am extremely emotionally attached to the house and would hate for something to drop my borderline scores and prevent me from staying with my current lender. 

Since my last report pull I have paid down my CC.  One went from 50% utilization to a zero balance and all the others are reporting zero balances with two others that are reporting a $25 balance on an $800 limit and the other is $940 (from $361 previously) balance on a $13,300 limit.

I have also paid 8 medical collections and one other collection since then.

I had one charged off student loan that was under dispute at the time of the credit pull however now it is no longer under dispute but the issue is still not resolved.  It has actually gotten worse.  My account balance was actually $14112 previously and is not showing $14247.  The big problem though is the account balance is actually zero however the credit bureau is reporting the wrong account number (they are using my social security number with 26 behind it) so the zero balance letter I have from the lender is not working to get it removed and they keep claiming they have verified the info.  Should I put the account back in dispute to insure it is not calculated in my score or to keep the credit report as close to the same as previously since I can provide the mortgage lender with proof that the account is paid (did this previously)?

Any tips you all can provide would be appreciated on how to proceed and if you think these new occurances have lowered my scores.

[Booner72]

I would not put it back under dispute but I would continue to fight tooth and nails to get it fixed.  If the lender sees any "in dispute" comments they will deny your loan.  PERIOD.

otherwise - GOOD LUCK!!!!

[PixieQueen80]

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@Booner72 wrote:

I would not put it back under dispute but I would continue to fight tooth and nails to get it fixed.  If the lender sees any "in dispute" comments they will deny your loan.  PERIOD.

otherwise - GOOD LUCK!!!!

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Thanks for the feedback Booner72.  Is this all lenders because my last credit pull had it in dispute and I was approved with automated and manual underwriting with BOA.  I just don't want it to drop my score and definately be denied and at this point I am not too hopeful about getting it removed because I have been disputing it since November of 2010 and three times so far they claim to have verified it. 

[PixieQueen80]

Booner72 - I was incorrect in my post about the account being disputed at the time of the credit pull instead it permanently states "Consumer disputes this account information, Charged off account ."  Is this viewed the same as a dispute? 

[Booner72]

I was under the impression from reading this forum that you can't have accounts in dispute to get approved for a mortgage.  Based on what I read here, I believe that to be a universal situation for all banks.

However, since you got so far into your approval w/ the comment there, then maybe I'm wrong.  You should call and ask your loan officer.  Has your file gone to an underwriter?  If the underwriter didn't say anything then maybe you will be okay.

I'd call in the morning and ask.

[PixieQueen80]

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@Booner72 wrote:

I was under the impression from reading this forum that you can't have accounts in dispute to get approved for a mortgage.  Based on what I read here, I believe that to be a universal situation for all banks.

However, since you got so far into your approval w/ the comment there, then maybe I'm wrong.  You should call and ask your loan officer.  Has your file gone to an underwriter?  If the underwriter didn't say anything then maybe you will be okay.

I'd call in the morning and ask.

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My file has gone through underwriting twice and received full approvals from both however from reviewing past credit reports I am noticing that there might be a difference between being in dispute (notation "consumer disputes this account -account being investigated or re-investigated") than consumer not agreeing with information (notation "consumer disputes this account information; charged off account").  My reports now includes the last note even though its not in dispute and this was what was listed the last time it was pulled.  I guess EQ isn't even reviewing my disputes any more.  I hope this is not the case because I need to get it removed even after I am finished with securing my mortgage. 

[IOBA]

If you have not already, OPT OUT of your CR immediately!!!

That should stop any new surprises popping up.

[Varakai]

+1

Opt-out now!

It doesn't prevent creditors from softing you but it at least you're not airing your laundry for all to see I wwould even consider freezing all 3 CR's and only unfreeze when your lender needs to pull your credit...

[PixieQueen80]

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@Varakai wrote:

+1

Opt-out now!

It doesn't prevent creditors from softing you but it at least you're not airing your laundry for all to see I wwould even consider freezing all 3 CR's and only unfreeze when your lender needs to pull your credit...

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How does one freeze their reports? 

[PixieQueen80]

Just an update...I did absolutely nothing to my credit report since posting because I thought the loan company would be pulling the scores tomorrow however I received a phone call from my loan processor.  I thought nothing of it because I thought she was calling to get my permission to do the pull for tomorrow however instead she told me my mid-score changed.  I was terrified thinking it was for the worst but instead two of my credit scores increased and the one with the student loan in question remainded the same.  Thank you all for responding to my posts and attempting to keep me calm during such a stressful situation. 

My approval is now good until February 28th so lets hope the title issue is sorted out quickly and I can purchase my (yes, claiming it as my own) house with this credit pull.