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Unhappy With Veterans United Lighthouse Program- Anyone know about breaking the agreement?

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Unhappy With Veterans United Lighthouse Program- Anyone know about breaking the agreement?

We started on the Veterans United Lighthouse program at the end of May, at that time, we had two of our three credit scores over the 600 mark and were told we only needed to gain 19 points on our credit score to be preapproved for a loan.  When contacting them, we had planned on paying off some delinquent medical debt to help our score but they said not to touch it that all we needed to do is open one credit card account and that would probably do it for us... the lady suggested Wells Fargo for the card... and we were rejected and lost points on our credit score.  We did find a card that approved us but then also saw another drop on our score.

 

Anytime we call to try and get direction or answers to questions, she gives us conflicting advice... and now that our credit score fell she says "maybe you should pay down that medical debt"... this is what they told us not to touch when we began.  It's very frustrating.

We were supposed to at least be under contract and moving forward by now because we need to move to a different city for my husband's job in August but now she says it will take several more months... we are VERY unhappy with the service (or lack of service) we've gotten there and think it would just be better to handle our credit on our own because all she's done is give advice that caused it to fall.

 

SO, here's my question... when we started the Lighthouse program, we signed an agreement that said something like "if you use the lighthouse program you agree to use us for your VA loan"- so now that we are very unhappy with the program, are we still bound to use them for a VA loan?  I have read so many negative comments about Veterans United since I started myFICO message boards yesterday and this is very concerning for me.  This form I signed was a digital, online form so I don't have a copy (I know, that was dumb of me to sign it- we were recommended to the program by a friend of ours who had a good experience so our guard was down a bit).

 

ANY ADVICE?

Current credit scores are now: 586, 602 & 583... rental houses are very expensive where we're moving to and we really NEED to buy but now it seems unatainable.

 

Message 1 of 29
28 REPLIES 28
Moderator Emeritus

Re: Unhappy With Veterans United Lighthouse Program- Anyone know about breaking the agreement?

Welcome to the forums!

 

If you want to make gains in your score, my first and always recommendation is to do the following:

 

1) Post all your negatives and ask for help resolving them in the Rebuilding Your Credit forum, there may be some simple quick wins for getting them deleted.

2) Post the whole darned enchilada in Understanding FICO Scoring: card limits and balances, loans, negatives, etc; this is for putting lipstick on the pig to optimize an instant in time pull.

 

We're not FICO employees but this forum and one or two other places online are the next best thing when it comes to FICO optimization.  LO's unfortunately often don't know what they're talking about when it comes to FICO scoring, though your LO was right the first time, don't touch those medical collections by simply paying them, if you can't get them deleted they will not help your credit score and might even bring it down further.  The card advice, ugh, there's very few circumstances where that would have helped immediately and there's always a tradeoff involved with opening a new account when we're weighing potential advice on that front.

 

I don't know anything about that particular program but hopefully someone will be able to give you better information on that.

 




        
Message 2 of 29
Frequent Contributor

Re: Unhappy With Veterans United Lighthouse Program- Anyone know about breaking the agreement?

at least you got in the program i could never get this company to call me back they say there ave avail 24/7 but every time i called there was never a csr in my state available. none the less i agree with the emeritus you can always state your querys here and the folks here will chime in. im no expert but i dont think they would be able to bind you to use them as your loan provider. just ask others with more experiance will chime in. for my own information did i miss anything by not signing up?

C1 Venture 15K| NFCU NAV CHECK 15K| CASH REWARDS 5K| CARE CREDIT 3K| NORDSTROMS 1K| LORD & TAYLOR 1100| WALMART 600| TargetRed 500|Rebuilders

CAP1 1650| CAP 1 1100| BARCLAYS 2500| NREWARDS 8500|
SCT: VS 1100| EXPRESS 1100| JCREW 250| *HIDDEN TL BML 650

SCORES 709, 657, 623
Pre BK scores: 569, 587, 553
Message 3 of 29

Re: Unhappy With Veterans United Lighthouse Program- Anyone know about breaking the agreement?


@ChistineNJ wrote:

at least you got in the program i could never get this company to call me back they say there ave avail 24/7 but every time i called there was never a csr in my state available. none the less i agree with the emeritus you can always state your querys here and the folks here will chime in. im no expert but i dont think they would be able to bind you to use them as your loan provider. just ask others with more experiance will chime in. for my own information did i miss anything by not signing up?


Personally, I don't think you missed anything by not signing up with them- we're looking for a new mortgage provider just because of the problems we've had so far paired with the negative reviews they've gotten on this forum and elsewhere... found a hand-ful of other mortgage companies to check out but it's all very stressful... not sure who to go with for the most seamless and quickest loan (I know, it's a VA loan and they aren't quick).  

Message 4 of 29

Re: Unhappy With Veterans United Lighthouse Program- Anyone know about breaking the agreement?


@Revelate wrote:

Welcome to the forums!

 

If you want to make gains in your score, my first and always recommendation is to do the following:

 

1) Post all your negatives and ask for help resolving them in the Rebuilding Your Credit forum, there may be some simple quick wins for getting them deleted.

2) Post the whole darned enchilada in Understanding FICO Scoring: card limits and balances, loans, negatives, etc; this is for putting lipstick on the pig to optimize an instant in time pull.

 

We're not FICO employees but this forum and one or two other places online are the next best thing when it comes to FICO optimization.  LO's unfortunately often don't know what they're talking about when it comes to FICO scoring, though your LO was right the first time, don't touch those medical collections by simply paying them, if you can't get them deleted they will not help your credit score and might even bring it down further.  The card advice, ugh, there's very few circumstances where that would have helped immediately and there's always a tradeoff involved with opening a new account when we're weighing potential advice on that front.

 

I don't know anything about that particular program but hopefully someone will be able to give you better information on that.

 


Thank you for the advice- I'll give it a try!

Message 5 of 29
New Member

Re: Unhappy With Veterans United Lighthouse Program- Anyone know about breaking the agreement?

Hello,

     I know your post is almost a year old but just wondering if you ever got the home loan you needed to move?

 

Bobby.

Message 6 of 29

Re: Unhappy With Veterans United Lighthouse Program- Anyone know about breaking the agreement?

Bobby- yes, we were able to get a loan through a different company and they were much faster and more attentive than Veterans United.  I don't recommend them at all.

Message 7 of 29
New Member

Re: Unhappy With Veterans United Lighthouse Program- Anyone know about breaking the agreement?

Thanks for the quick reply, I was getting ready to sign up with them today but im not sure what to do now.Could you share with me who you went through? I may have a better chance with them as well.I think us vets paid our do's and whe should be approved no matter what.But just like anything else with the va it takes an act of congress to get anything done.Thank you for your service and I look forward to your reply.

 

Bobby.

Message 8 of 29
New Member

Re: Unhappy With Veterans United Lighthouse Program- Anyone know about breaking the agreement?

sorry I forgot to ask if the other company required a 620 on your middle score. Thank you for the info, we really wanna purchase soon but jumping through all these hoops is not good for someone with PTSD lol

 

 

Bobby

Message 9 of 29
Highlighted

Re: Unhappy With Veterans United Lighthouse Program- Anyone know about breaking the agreement?

We used Steffnie Parsons with People's Bank & Trust.  Her email address is Sparsons@Peoplesbankusa.com  and her office number is: 405-445-1091

 

Hope that helps- she was pretty diligent in working things out for us and didn't drag her feet like the other place did.  

My only recommendation is to really look over all your paperwork to ensure all the figures are correct.    We had no problems, though.

Message 10 of 29
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