She said all needed to be removed because my score wasnt real and that FHA WOULD NOT approve me. Period. This is why I'm becoming very fed up with even trying to buy a house.
Starting Score: EQ: 645 TU: 663 EX: 630
For FHA, disputes now only need to be removed if:
... the cumulative outstanding balance of disputed "derogatory credit accounts" of all borrowers is equal to or greater than $1,000, the mortgage application must be downgraded to a “Refer” and an underwriter is required to manually underwrite the loan. If the cumulative outstanding balance of disputed derogatory credit accounts of all borrowers is less than $1,000, a downgrade is notrequired. Certain accounts are excluded, such as disputed medical accounts & disputed derogatory credit accounts resulting from identity theft, credit card theft, or unauthorized use (however in the latter a letter is needed from from the creditor, or other appropriate documentation to support the dispute, such as a police report disputing the fraudulent charges).
"Derogatory credit accounts" are defined as disputed charge-off accounts, disputed collection accounts, and disputed accounts with late payments in the last 24 months. Disputed derogatory credit accounts of a non-purchasing spouse in a community property state are not included in the cumulative balance for determining if the mortgage application is downgraded to a “Refer”. "Non-derogatory disputed accounts" are excluded from the $1,000 cumulative total. "Non-derogatory disputed accounts" include disputed accounts with zero balance, disputed accounts with late payments aged 24 months or greater, and disputed accounts that are current and paid as agreed.
Sorry...I read your post wrong I think. I'm still very frustrated with the whole process of rebuilding credit though. Like I said earlier, I've been working on it for three years now and have had multiple negatives fall off just in the last year (4 I think) and it seems like my credit score is going nowhere!!! I've read others posts and while I know everyone's CRs are different, I had developed some kind of hope that my scores would rebound by 100 points in 3 years. I just don't know who to listen to about it anymore. I havent had any new collections put on in the past year, everything but that last 884 is paid and those are over 4 years old.
I see your point about a new loan officer, but we have been through three already and it's just got me ready to pull my hair out. The disputes are off now though so I'm assuming that when those two COs come off that will help some. Also the longer since the dispute comments came off will help the score too right? I was just hoping to move by this summer before my kids started school again.
*Update
I pulled all three of my FICO scores from myfico today and, as you can see by my signature, they arent as bad as the FAKOs. The FAKOs dropped significantly, but my FICO scores stayed decent. Just need to send out a few GWs for old paid off accounts and do two PFDs (if possible) and I will be sitting in a much better spot!! Thanks so much for all of your help!!
Thanks for all your help Shane!!!