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@Anonymous wrote:
One of the things the woman mentioned was to file a customer statement with the credit bureaus so that lenders may review and consider.
Any thoughts? Is it effective? Would a mortgage company ever decide to ignore late marks?
There is absolutely no positive effect that can come from placing a customer statement on your CRA reports.
The lates will factor into your scores regardless, and nothing the mortgage lender would do affects that. However, unless the lates are quite recent and on another mortgage line, they also won't care about them as long as your scores are good enough to qualify.
It has taken me 8-9 Rounds of GW letters to achieve a favorable result from a few lenders. If I were to quit after just 2, I'd still have a dirty file today (and for a few more years). The point here is don't give up after a few tries. It can sometimes take many attempts.
@Anonymous wrote:It has taken me 8-9 Rounds of GW letters to achieve a favorable result from a few lenders. If I were to quit after just 2, I'd still have a dirty file today (and for a few more years). The point here is don't give up after a few tries. It can sometimes take many attempts.
Oh I agree keep plugging, just statements I don't think matter.
I have tried atleast 20 times my mortgage company won't budge though 😠
Those reponses you received are standard protocol for the majority of lenders. They should be ignored. If you read through the Saturation Technique thread, you'll see I've received all of those same responses as well. They told me additional requests would be ignored. They weren't all ignored, as I eventually got the GW adjustments I was requesting.
Hi Janamom. Can you clarify for us when you need these derogs removed? My sense from your first post is that you need them removed extremely soon -- i.e. in the next couple weeks. This is because you are about to close on a home purchase.
If so, there is almost no chance that you will get them removed in that timeframe. The GW letter strategy is a long game. It assumes that you are not deluging the company with gazillions of letters and phone calls during the same few weeks, but rather you have the luxury to slowly space them out for a period of many months. That gives you the chance to reach new people and reduces the chance of you being flagged (as you point out) as a pest who's gone bat-sXXt crazy with letters.
There are other add-ons to the GW strategy that increase the chance of it working, but none of them would help in an abrupt timeframe.