Forums
I'm trying to get a mortgage and have a few items on my credit report to clean up. I was able to successfully get 2 items removed through the online dispute process that the credit reporting agencies offer. Once that happened I was pleased feeling one step closer to my mortgage. Thinking that the mortgage company would re-run my credit report and I'd be closer to the number required. When I showed them the corrected reports and asked it they could re-run the report they said no! Reason given is that will have a negative impact on m credit score. They instead want to work off of the original report with paid receipts or by contacting the collections companies that I had removed. Does this make sense?
No this does not. who is the mortgage company? You have a right to have your application reconsidered with changes to your credit.
have you applied to only one mortgage co?
Yes this is the only mortgage company that I have applied with. It's Amera Mortgage Corporation. Their theory is that if they pull credit report again it will decrease my score. I suppose it may, but it seems that when changes are made to the report that the agencies should allow these to be resubmitted by the bank an individual is working with with out penalty.
well, credit pulls lower your score. this is not avoidable. But it is weird to me that Amera wants you to pay CAs that you may not owe any money. I think they need to explain this. A new credit pull will cost Amera $, maybe this is the problem. Why not check out another mortgage co?
I do plan on checking out another company. I just wanted to make sure that I wasn't the only one that thought this odd. thank you
you are welcome
credit
Usually if you get a 'bad gut feeling' on a lender, bank, etc., I wouldn't deal with them at all. Of course you would have a right to have your Credit pulled again. If this lender doesn't want to give you that 'benefit, then I would consider going with someone else. A credit pull only lowers your score by (maybe?) 5 to 10 points...I believe.
I think that the lender is not necessarily bad, just traditional. It seems that all lenders advocate "shut up and pay". All my sibs, had small collections to pay at closing. The mortgage co said "don't touch that, we'll take care of it at closing. Luckily for me I cleaned my credit before I applied.
mortgage co
Hi Synderella,
Cinnamngrl is right. You can try out another mortgage company. However, this is right that if Amera Mortgage Corporation pulls your credit report, your score will lower by some points.
Thanks,
Aaron