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New collection before closing

Your FICO® Scores can impact your loan interest rates, terms, approvals and more.
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New collection before closing

New but long time reader thanks for all info,

 

Sorry for being breif just anixety is reaching high point and looking for answers

 

FHA Mortgage under writing approve apprisal everything done closing even got move sooner.  Suppose to close in two weeks. Today I got a alert for a $200 collection for a medical bill. Should I call tomorrow and try to get a pay for delete? But they say you have to take that and go dispute it on credit report but they also say no disputes open during mortgage process. What should I do? Thank you for any advice!

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2 REPLIES 2
Established Contributor

Re: New collection before closing

Before doing anything, read on the new rules about "No medical Collections" can be reported......somebody here knows all about it and will chime in but until then, don't do anything until you read up on this supposedly "new law/rule" whatever it is.  All the best to you!  Smiley Very Happy

Current Scores: EQ 746, TU 756, EX 739
Goal Scores 780's
"My Take Home Pay Don't Take Me Home"
Disco 1.5k/Cap1 QS 750/Lowes Bus 5k/Home Depot 5k/Synovus loc 75k/Staples Bus 1k/ Comenity HSN 4k/Walmart 2.5K/Chase 16.5K
Message 2 of 3
Regular Contributor

Re: New collection before closing

Ask your loan officer their specific underwriting guidelines. You should be ok. Underwriting may do a soft pull right before closing - usually to see if you've had other credit pulls/taken on new debt. A small collection would normally be considered meaningless to most lenders though. You hould should have no worries about this at all.
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