My offer was accepted... Now for the scary part.

[TRC_WA]

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@mwv813 wrote:

I am brought to these forums after hiring a credit repair guy in February to quickly fix my score so I could get approved for an FHA loan.  At the time, Experian was my high score of 664, then TransUnion with a 617 and Equifax with 593.  He promised the world in only a few weeks.  The goal was to move my TU score up 10-15pts to give me some breathing room.  When it came time for my mortgage score to update, my high score with EX crashed over 100pts causing me to back out of the existing offer I had on a house.   The credit repair guy has since become unreachable, and my wife more frustrated with my poor decision to hire this guy ($500 fee).

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@mwv813 wrote:

He disputed everything possible - even good things.  Well, thats the way it looked to me.  I haven't been able to get him on the phone to discuss why he did what he did. 

The only good that came of it was he had a medical collection removed from my TransUnion report.  

I had one collection account that wasn't showing on Experian show up - After he disputed it with the other bureaus - showing even more derogetory remarks than it had originally..  

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Just another example of why credit repair firms are a ripoff.

You can dispute items on your report yourself which is all they do.  It doesn't cost you $500 to do it either.

Hopefully others who read this will avoid the painful lesson.

[Anonymous]

500 bucks. yikes. buy me a pizza and I will tell ya exactly how I got my scores up 230 pts in 11 months. or maybe a cheeseburger. that sounds good.

[mwv813]

Yeah - HUGE mistake.  I am currently disputing the charges with my credit card.  Hopefully they grant the Chargeback.

So I have some good news and Bad news....

The Good - Inspection was today and everything came back good on the house.  There are a few minor issues, but nothing out of the ordinary.  The biggest issue was the roof, but the seller agreed to put a new 30-year architectural roof with dimensional shingles before closing.

Also, I confirmed that my middle score increased from 619 to 659 - So I am above the 620 I need.  I have advised my mortgage agent that he can pull the Equifax report to show the change.

The Bad - I also pulled my TransUnion score (which was my high mortgage) and the mortgage score dropped to 599!!  I am still trying to figure out why.  No doubt its more fallout from this hired credit repair guy.  I am going to go through everything with a fine toothed comb tonight to see what the issue is.  If I cannot get this bumped up at least 21pts by closing we will not be able to close on the house.  ;(

I had my credit utilization at 16% on this credit pull..  I am shooting for 5% for the next update - I am hoping that will solve my issues!  All of the simulators here suggest it will increase my 2 lower scores above 620.  

Any other suggestions would be appreciated.

[mwv813]

How about a Cheeseburger pizza?  Done!

Lets make this happen!  Only I have less than a month.  Closing is scheduled for May 15. 

[PdxGirl]

Well congratulations!  Getting close to being a homeowner!

[mwv813]

Thank you.  Just need to get that TU score back up above 620 before they pull for closing.

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@PdxGirl wrote:

Well congratulations!  Getting close to being a homeowner!

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[Anonymous]

Good luck to you! I've had a huge drop too from EX and I have no idea why.  56 points in one month.  I have to rapily raise this, 30-60 days if I have a shot to close by Aug 1. I'm following this to see what you do to raise the score and how it all affects you.

One thread I saw said to call in and remove the dispute remarks on the entries, but some saw score drops by doing this it appears.

[mwv813]

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@Anonymous wrote:

Good luck to you! I've had a huge drop too from EX and I have no idea why.  56 points in one month.  I have to rapily raise this, 30-60 days if I have a shot to close by Aug 1. I'm following this to see what you do to raise the score and how it all affects you.

One thread I saw said to call in and remove the dispute remarks on the entries, but some saw score drops by doing this it appears.

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Yeah I have about 20 days to figure this out.  My mortgage agent said he will get back to me with some conditions later today or tomorrow.  I called him Friday to see if I should do a PFD with one or all 3 of my collections accounts.  He told me to hold off until the bank conditions come back so I am working on the things the bank cares about and not something else.  At this point, I don't think he knows my TU score has dropped as much as it has.  

[Anonymous]

Util plus another month of OKs on your positive accounts might well get you there. I would start compiling the list of phone numbers to call if that doesnt get you there. Starting with the CRAs to get the dispute notations off of the positive accounts. Find out the numbers for the negatives so you arent scurrying around if you need to do a pfd. At least doing this gives you something to do instead of sittin around worrying about things you currently have no power over.

[StartingOver10]

Did your lender say that all the mortgage scores have to be above 620?  They only use the mid-score. What are the 3 scores now?

PS I am so sorry you had to experience this the hard way. These credit repair people are awful IMO. Thank goodness you recognized it in time to get it fixed.

Also it sounds like you have a cooperative seller. Congrats on your new home!