We screwed up and due to communication lapses let our mortgage go 30 days late. We paid 2 payments at once. Our last 30 day late was April 2003.Since we have less than stellar history with the lender ( 6 30 day lates in 7 years) would it make any difference to write a letter begging them to remove recent lates? It dropped scores 20 points! Also, does anyone know if you can obtain heloc in Texas with scores 550-585? Especially with a current 30 day late on mortgage? What a screw up we made!! Any advice?
I would call up or write the mtg company and see, the worse they can say is no right? As for the HELOC, it really depends on what day of the week in Texas as their laws seem to be changing so much. I am not sure what Loan To Value you are looking for but Texas caps around 80% (like I said, what day of the week is it). Best thing to do on a HELOC is go into your local bank and ask them what they can do. I am thinking the 600 mark is going to be tough and that a 620 would be a better chance but if they can;t give you one they will be the best source for your answer...and...it only takes a 5 minute phone call. Good Luck!
