3 collections removed in the middle of mortgage approval

[Anonymous]

Hi guys, my husband and I are in the middle of purchasing a home. We had our credit pulled and BARELY qualified on the credit score end and I was told to write letters of explanation for the collections on his report. So, I did and contacted all the collection agencies etc. In doing so, 3 of the collection agencies informed me they would be removing these collections from the report because they are not valid. GREAT!!! But, how should that affect his score. Also, what date should I use to determine how old these debts are? THANKS FOR ANY HELP!!!!

[rckstrscott]

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@Anonymous wrote:

Hi guys, my husband and I are in the middle of purchasing a home. We had our credit pulled and BARELY qualified on the credit score end and I was told to write letters of explanation for the collections on his report. So, I did and contacted all the collection agencies etc. In doing so, 3 of the collection agencies informed me they would be removing these collections from the report because they are not valid. GREAT!!! But, how should that affect his score. Also, what date should I use to determine how old these debts are? THANKS FOR ANY HELP!!!!

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Well, are those the only 3 collections accounts on his file? Because you really won't see much of a score bump with 3 removals if there are 5 others ones or something

-scott

[Anonymous]

Scott, he has 8 medicals and 7 non medical but it will be 4 non medical when these are removed. You don't think it will help much that these others came off?

[Anonymous]

And, one more thing, could it hurt our score?? I am so nervous they will do a re pull and it will be too low We are soooo far into the process, we have our preconstruction meeting next week.

[doublespaces]

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@Anonymous wrote:

And, one more thing, could it hurt our score?? I am so nervous they will do a re pull and it will be too low We are soooo far into the process, we have our preconstruction meeting next week.

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Honestly, I think if you're scores are good enough, just let it ride.... I think you would be an idiot risking losing it all over a point of interest.