The Official NACA mortgage thread

[Anonymous]

Hi, I am going to a NACA seminar next weekend and I am really looking forward to it. I read that you must have all payments listed on your credit report as on-time for the last 24 months. Which, I wasn't worried about until I checked it over to be sure and realised my husbands grandma added me to her credit card a while ago to help her with groceries. I am an authorised user and she hasn't been making payments. I plan on helping her do so, but will this outright deny me from the program? Is there anything I can do to prevent disqualification?

[greg_the_egg]

You should be able to get yourself removed as an authorized user from the account or have the account holder to remove you. At the same time, request the issuer remove the account's information from your reports. Most banks will make this an easy process, however, American Express and Discover may require multiple tries.

You can still start the NACA process. By the time you get anywhere near the point of house searching, the negative information should be gone. If questions arise, just have a written explanation prepared to be placed in your file.

[Anonymous]

Thank you so much for your reply! I just sent a letter to Capital One today. I disputed it on my report online (should I have done that?) and I contacted Equifax and explained the situation (the only bureau that it's reported to). You have helped my anxiety levels until I speak with the counselor!