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 KAILAMICHAEL
Joined: 16 Oct 2009
Posts: 3
2.00 Dollars($)
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 Posted: Fri Oct 16, 2009 4:05 pm Post subject: HOW CAN I GET A DISPUTE TAKEN OFF OF MY CREDIT REPORT? |
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| I am in the process of buying a house everything was fine closing is in 2 weeks now the mortgage company is telling me that because i am getting state bond money to help with my down payment i can not have any disputes on my credit report. the idspute in question is paid, how can i get this dispute removed from my credit report? |
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sunnyca2009
Joined: 04 Aug 2009
Posts: 1735
35.94 Dollars($)
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| Posted: Sat Oct 17, 2009 5:15 pm Post subject: |
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You will need to contact the credit reportign agency and have to aks them to remove it if it is not really correct
But if you defaulted that payment and still paid it off, then ti will remain on the report for 7 years |
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jveenstra
Community Experts
Joined: 10 Nov 2008
Posts: 536
Location: River Edge, New Jersey
126.46 Dollars($)
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| Posted: Mon Oct 19, 2009 7:37 am Post subject: Disputes |
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There are three credit bureaus. To remove the disputes, you must call each one and request that the dispute be removed because you no longer dispute. They may request in writing.
The dispute is either recorded by one or two or three of the credit bureaus. You must correspond with each one that has the dispute recorded.
This requirement exists with more than just mortgages involving state bonds. In the past two months this has become a requriement for Fannie Mae and Freddie Mac loans as well. There are probably portfolio lenders who do not require that a dispute be removed.
_________________
John Veenstra
Senior Mortgage Consultant
Approved Funding Corp
41 Grand Avenue
River Edge, NJ 07661
800-475-0123 Ext 278
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DENISE
Guest
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| Posted: Mon Oct 19, 2009 8:29 pm Post subject: |
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| THANKS SO MUCH! |
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DENISE
Guest
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| Posted: Mon Oct 19, 2009 8:35 pm Post subject: REMOVING A DISPUTE |
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| I TRIED CALLING 2 CREDIT BUREAUS TODAY, AND BOTH ARE NOT SHOWING ANY DISPUTES. I CALLED MY MORTGAGE COMPANY AND HE INSISTS THAT I HAVE A DISPUTE. HE WILL CALL ME IN THE MORNING TO TELL ME WHICH CREDIT BUREAU IS SHOWING THE DISPUTE. WILL THIS STOP ME FROM GETTING A MORTGAGE? |
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jveenstra
Community Experts
Joined: 10 Nov 2008
Posts: 536
Location: River Edge, New Jersey
126.46 Dollars($)
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| Posted: Tue Oct 20, 2009 6:13 am Post subject: Dispute |
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If two credit bureaus do not show a dispute, it could very well be only the third credit bureau that is showing a dispute.
Mortgage underwriting is automated. You could have the mortgage person run a prequalification on one of the automated underwritng engines--DU for Fannie Mae Loan or LP for a Freddie Mac Loan or the underwriting engine for an FHA loan.
If the automated underwriting does not have a problem with any disputed items, it will come up Approve/Eligible and everything should be OK.
If a disputed item is a problem on the credit report, the automated underwriting system will come up not approved and state that the reason is for a disputed item on the credit report.
_________________
John Veenstra
Senior Mortgage Consultant
Approved Funding Corp
41 Grand Avenue
River Edge, NJ 07661
800-475-0123 Ext 278
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