I'm new here to this forum but am working on helping a lady repair her credit. I'm a loan officer so we need to get this resolved to get her the proper loan. Her scores are: 609 EXP 620 EQ 602 TU Her Countrywide mortgage loan is doing a majority of damage. She has been perfect on all her mortgage payments prior to unknowingly bouncing a check. Apparently she wasn't paying attention as well as English not being her primary language and just then kept making the normal mortgage payment on time. But because the first payment bounced, she was not knowingly a month behind for three more months. She called to complain in Feb/O7 and Countrywide removed one of the 30 day lates however she still shows (3) 30 Day Lates on her Credit when I checked today. Her account reads "30 Days Late 9/06, 8/06, 07/06" It also appears to be double posted. One with CountryWide and the other with Secured Banker. All advice is appreciated as I'm very eager to learn as much as possible with credit repair for the future. Should I recontact Countrywide by phone, mail or ?? and what should be the plan to remove these 30 Day Lates?? Thanks
Do everything via the US Mail, CMRRR if possible. Look in to whether your company offers rapid rescoring for your clients. It is usually offered by most brokers. The best way to start the process is to contact the mortgage company with a goodwill letter. She can also send a basic dispute to EXP using the US mails, which asks them to investigate the account because it is inaccurate.
I had a similar situation with New Century Mortgage. It only took two letters explaining what happened, etc. and they removed the late payments from all credit bureaus. After I sent the second letter, they refused to remove the late payments. However, I sent a second letter more detailed, etc. and they removed them. good luck!
Was this woman ever contacted/alerted by CountryWide that her check had been returned for NFS? Did she ever receive a notice from her bank? I would have her look over her statements and see where the mistake arose, then contact the mortgage company. If they did not send her a notice of NFS, then she may have good leverage to get these negative entries removed. However, this could take some time, plan on 30-60 days to get this resolved. If she is in the middle of a mortgage application, then this may not get resolved within the timeframe you hope.
