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Ongoing Dispute on EQ, EX, TU during mortgage application?

Your FICO® Scores can impact your loan interest rates, terms, approvals and more.
Regular Contributor

Ongoing Dispute on EQ, EX, TU during mortgage application?

Back in 2011, I had a late payment on a Best Buy Credit Card. Eventually I paid it off, and it no longer affected my credit score, however it was still on my record in 2019. I took the advice of others on here on my own will, to file a dispute with EQ, EX, and TU to have it removed for still being on my record past 7 years. Well now, I just skimmed through a forum which says that there shouldn't be any pending disputes while in the middle of a mortgage process? I'm doing a new-construction build and will be closing on 05/01/19!! Now i'm freaking outttttt. 

 

EX has already removed that specific late from my record, causing my credit score is increase by 8. The other two are still pending.

2 REPLIES 2
Regular Contributor

Re: Ongoing Dispute on EQ, EX, TU during mortgage application?

Theres no reason to worry, it's a very simple fix. Your lender can call their credit provider - have you write a letter stating you no longer wish to dispute item. This literally can take a matter of 3 days to fix. This is the easiest way but not necessarily the best since your 8 point score increase will go away.
A better option is getting a letter from Best Buy showing its been paid and maybe get a letter of deletion from them. Your lender can provide Best Buys info to their credit vendor and have it removed. This is called a (Rapid Rescore) This too takes the same amount of time as the above option, it just depends how fast you can get Best Buy to fax you proof. I dont see why it would take them longer than a day or 2. This 2nd option is the way to go.
Message 2 of 3
Established Contributor

Re: Ongoing Dispute on EQ, EX, TU during mortgage application?

Most lenders won't pay any attention to Accounts under dispute with a $0 balance.

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Licensed NC Mortgage Loan Originator
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