We've had a real flurry of great posts here on ActiveRain lately ... and I find myself re-blogging more than in the past. The following is a real gem of a post ... and one that carries a very important message for all of us.
This blog by Deb Brooks, Lake Livingston Real Estate, Huntsville, TX, is a great example of what I speak. It touches upon a subject of particular concern and importance to me ... that being the maintenance of my client's credit standing. It should be important to you too.
Within my own personal services, I offer a free mortgage and credit review to my clients upon the annual anniversary of their loan closing. I've tried to impress upon my clients that doing this review annually is of great importance ... and that it can save them time, grief, and money in the future to take advantage of this offer each year.
As I said, Deb Brooks' post below proves exactly why I feel so strongly about this call to action. As the old saying goes .... "#!%#@" happens. Errors, poor reporting by companies, laziness, mix-ups, and life ... they all happen and are reflected on a credit report. Taking a peek at your credit report and the loan program you are in once per year IS wise, and can head-off bigger future problems for you down the road.
PLEASE ... TAKE THE TIME TO CHECK YOUR CREDIT AT LEAST ONCE PER YEAR! Likewise with your mortgage. For me, this is a FREE service I offer. All you need to do to take advantage of this offer is to contact me. I know other lenders do the same.
Don't be so busy that you do not take advantage. You'll be glad that you made the effort ...
Gene
...we simply won't give you the loan. Nope, sorry. YES, you make more than enough money. YES, your credit score is over 800+. YES you have supported all the documentation and you have been approved with one, tiny, itty, bitty, teenie, weenie, DISPUTE THAT IS STILL ON YOUR CREDIT REPORT!!!!
SORRY CHARLIE~
Anyone else find this problem? I absolutely do not blame the lenders for requiring NO DISPUTES since once upon a time people would dispute tons of items on their reports, buy a home since no one looked at them and then defaulted on their home loan as they did everything else!
I've run across a brand spankin' new glitch which has rared its ugly head. Very, very ugly head. I am lucky to work with a Mortgage Broker who is "hands-on", involved and diligent beyond the call of duty.
After requesting that a PAID SIX YEAR OLD DISPUTE BE SHOWN AS NO LONGER A DISPUTE one of the wonderful collection agencies simply SHRUGGED. "SORRY", THEY SAY. WE DO NOT SUBMIT A LETTER OF RECONCILED DISPUTE TO THE CREDIT AGENCIES. WE JUST DON'T.
Bottom line, the clients were told that if they had the CREDIT BUREAU physically contact them that they would verbally say, "it is no longer a dispute."
What are the odds of that? And, if it IS NO LONGER A DISPUTE WHY NOT PUT IT INTO WRITING?
Credit Bureaus are now becoming flooded with calls such as ours. The Bureaus can do nothing but report what any given CREDITOR reports. We basically have no recourse if we cannot get the Agency to report dropping any DISPUTE and there goes your chances of ever purchasing a home. NO MATTER HOW GOOD YOUR CREDIT IS OR YOUR JOB OR YOUR HISTORY OR WHETHER OR NOT YOU HAVE PAID THE AMOUNT DUE OR WHETHER OR NOT YOU EVEN EVER OWED THAT AMOUNT OF MONEY LEGALLY...SORRY CHARLIE.
Have any of you experienced this before? When we began there were two disputes. Because BOTH were paid it seemed easy enough to get them off the report. One dropped off right away. The other? Who knows? My clients moved out of their home expecting a sale...a closing. Sad and I am one of many trying to clean up this mess. Any advice from you is welcomed.
Thank you my blogging friends.
Advice from the experienced...Review these facts with your potential Buyers!
Disclaimer: My writings are based upon life experience and I do not claim to be an expert at any of your professions...just mine.
Brooks Prime PropertiesSpecializing in Lake Properties
Lake Livingston Texas
936-295-0005
Gene Mundt, Sr. Vice President
Personal NMLS #216987
The Federal Savings Bank
1823 Centre Point Circle, Naperville, IL 60563
Now on Skype! 630-219-1316
