Hello! To make a long story short, I am working on getting a home mortgage. I obtained a copy of my credit report, and thought it would be a good idea to go through and dispute all the negative junk, just in case! Anyway, bad idea, according to my mortgage lender...he cannot get me a loan if I have more than one disputed account showing. So, my questions are: 1. Does the "disputed" status automatically fall off after the allotted time frame where the debt is either confirmed or removed? 2. If it doesn't fall off, how can I have this "in dispute" tag removed from my credit report? Any help is GREATLY appreciated!
This is something that's become more common among mortgage lenders, and it's one reason why you should only dispute truly inaccurate or missing information on your reports. Multiple disputes generally trigger a referral for the underwriters reviewing your loan, and a lot of loan coordinators won't push the issue with the underwriters if they don't feel it's worth their time. However, if the disputes are truly valid, the underwriters should take that into account when reviewing your application. By the way, the disputed status will fall off your reports when the dispute is resolved with the CRAs.
