HUGE Mortgage Score Jump - Deleted Collections

[jd403]

When I originally got my pre-approval from my lender on a 30yr FHA my middle mortgage score was 618.  My rate was 3.75%.  I had two collections.  One with T-Mobile for $636 and the other for $126 with Patient First.  My lender said to pay them off because I would be better on a score refresh.  I got both collections paid and started disputes to remove them from all 3 reports.  It took about 3-4 weeks to get it done but on Monday the last one was removed.  Today, I had my LO repull my credit and my middle score was 662.  The big surprise to me was that Experian score went from 584 to 696 just for having the 2 accounts off my report.  Nothing else changed as my CC's don't report until later in the month.  My new rate is 3.412% for 30yr FHA @ 3.5% down.

For anyone who is thinking of getting an approval, do the hard work!  It is completely worth it.

[StartingOver10]

Huge congrats to you!  All of your hard work paid off

[Anonymous]

Congrats on your deletes! What were your dispute reasons to get them removed?

[jd403]

---

@Anonymous wrote:

Congrats on your deletes! What were your dispute reasons to get them removed?

---

I was honest with them and told them I was attempting to buy a house and that I understood the balances and asked for good faith removal. Once I had the letters agreeing to deletion from the creditors, I opened disputes with the three CRA's.  The waiting ranged from 2 days with Experian to almost 4 weeks with transunion.

[Anonymous]

That's awesome!  Congratulations! So, first you wrote to the creditors after you paid and asked them to remove, and then filed a dispute with each CRA? 

[Anonymous]

That is great news!! I was hoping to read something similar to my story. I too was told by my LO to remove 3 collections from my EXP file to boost my mid score of 625 to possibly 640 to proceed with a USDA Loan instead of FHA. I've removed 2 AFNI collections and EQ & TU scores have jumped up. Nothing yet for EXP. I cannot wait to see how much. Unfortunately Comcast/Eastern Account Systems won't budge. :/ any who enough of my rant. Congratulations!

[Anonymous]

CONGRATS!!!

How do you find your morgage score?  I thought that was what a fico score was?  Geez I have a lot to learn!

[jd403]

---

@Anonymous wrote:

That's awesome!  Congratulations! So, first you wrote to the creditors after you paid and asked them to remove, and then filed a dispute with each CRA? 

---

I called the two collection agencies and said that the items were paid and asked if they would work with me since I was buying a house and deleting teh accounts would help me greatly.  Surprisingly both were very willing to assist.  One creditor emailed me a deletion letter within an hour and the other faxed it over to me same day.  Once I had those, I submited online disputes with Equifax and Experian.  I uploaded the letters as part of the dispute and waited.  They were resolved same week.  TransUnion, I had to call and fax.  After that I waited 5 days and confirmed tehy had the letters.  I had to keep checking and eventually asked to be transferred to "special handling" in the US.  Once I spoke to that group, they were gone within 2 days.  Start to finish it took just short of 4 weeks total.

[jd403]

---

@Anonymous wrote:
That is great news!! I was hoping to read something similar to my story. I too was told by my LO to remove 3 collections from my EXP file to boost my mid score of 625 to possibly 640 to proceed with a USDA Loan instead of FHA. I've removed 2 AFNI collections and EQ & TU scores have jumped up. Nothing yet for EXP. I cannot wait to see how much. Unfortunately Comcast/Eastern Account Systems won't budge. :/ any who enough of my rant. Congratulations!

---

You can check your status online.  Experian.com/dispute    I also would call them and ask what the delay is if you feel you submitted all good documentation

[GirlMelanie89]

---

@jd403 wrote:

@When I originally got my pre-approval from my lender on a 30yr FHA my middle mortgage score was 618.  My rate was 3.75%.  I had two collections.  One with T-Mobile for $636 and the other for $126 with Patient First.  My lender said to pay them off because I would be better on a score refresh.  I got both collections paid and started disputes to remove them from all 3 reports.  It took about 3-4 weeks to get it done but on Monday the last one was removed.  Today, I had my LO repull my credit and my middle score was 662.  The big surprise to me was that Experian score went from 584 to 696 just for having the 2 accounts off my report.  Nothing else changed as my CC's don't report until later in the month.  My new rate is 3.412% for 30yr FHA @ 3.5% down.

For anyone who is thinking of getting an approval, do the hard work!  It is completely worth it.

---

Wow! I would be happy with the 3.75%. I think my middle score will be really close to your 618, which bank quoted you 3.75%? I need them! Lol. But CONGRATS on that core increase!!!! Amazing!!