Shocked, angry and sort of depressed. We got our scores up over 650 each in 6 months and then three CA accounts showed up one on credit reports at the last minute... one week before closing!! The irony? They are not even accounts of mine AND they are due to fall off this June. The lender the builder was using basically said there was nothing they can do and said they would keep our file. We dont want to give up, so does anyone have any recommendations on sub-prime lenders? I will have to spend another 6 months to a year fighting to get this stuff off again and theand the sad thing is that we picked colors, carpet, and tiles. Today I got a letter that said "Congratulations on your new home". That was depressing. DellaAnn
I'm sorry about this terrible situation. If they aren't yours, then i would fire off a nutcase letter,advising them of this, also advising them, that you have lost your earnest money due to their mistake and will take them to court. if they don't immediately delete. You have prove of damages and have already spoken to an attorney. Overnight that to them and give them a short deadline. You'd be suprised the engies you can set in motion by determination and action. Good luck! Don't give up on this. Also, at the same time dispute them will all the credit bureaus. So, if they pull again in a week, those disputed items won't show.
You'd be surprised how quickly a lawsuit would settle this for you! It doesn't take much for me to file and this would have me flying to the federal courthouse! Tac
Helloooooooo??? You are going to take this lying down?? Get mad. Get a lawyer. These CA's are trying to commit extortion!!! If these are really not yours, you can make these CA's make the downpayment for you, at least.
Don't waste time feeling depressed, easier said than done, I know Channel the anger you feel productively! KICK ASSES AND TAKE NAMES! If these are not your accounts don't let these bastards keep you out of your home! Best of luck to you and don't give up
If the CA accounts are not yours and you really can't wait, you can file a complaint and make a motion for immediate injunctive relief against CA. Judge may or may not grant your request.
id be kind of upset at the builder/lender as well for flat out turning me down all of a sudden. especially for TL's that are going to fall off in June..gheez. looks like they don't want your business to badly. but thats just me.
I have to agree with Mark. They are giving you this much grief for a debt so old that it's going to fall off in June? That just doesn't sound right... I would fight this head on. It's hard being set back, but things like this give me even more motivation to keep on moving. Just start your validation process and get those TL's off your report! It would help us to help you if you give a little more information on the nature of the TL's.
My DH and are have spent the last 12 hours or so typing up letters and get our "ducks in a row". What I am getting from you guys is that the nutcase letter if the first and foremost thing to do. Is that correct? Also, the builder told us to call the lender back and plead our case. I am not sure if I am the begging type. Yes, I am pissed, but I have principals. The story is that when we first applied for our mortgage, our scores were in the mid-500's. We were able to get our scores in the mid-600's which helped us qualify for a loan, but the condition was to keep working on our credit and get them higher to get the best at closing. A week before closing on the land, we got three hits which dragged the scores down lower than they were before we applied. It was like they came out of the blue!! (I swear this is rigged, CA know you want a house or car, so they figure they can extort $$ out of you. You can't get the house/car with the negs so instead of arguing, you just pay it quickly and be done. An unban legend in the making, but I am starting to believe that). Anway....a car loan, and two CA accounts mysteriously just popped up and BAM, the bank said "we can no longer help you", yet the builder wants us to plead. Right. We do intend to fight, tho'. They screwed us out the house, now its time to screw them out of some $$$. DellaAnn
I know...an urban legend in the making for sure! Did you notice any peeking around by the CA's in the inquiry section of your report during the time you were in the process of buying your home?
If these are not yours, why are you going with a nutcase? I'd suggest being at a lawyers office first thing Monday morning.
Re: Re: Well, we didnt get our mortgage Hey Breeze, Nope, we are going gung ho fighting! My fingers are sore from all the typing we have done. I just want to know the swiftest way to get info out besides regular CRRR mail. I dont want it getting refused. One CA is Marlin for two accounts I have no idea about. I searched for a good address and faxed but came up empty or old info. What I did get is that this CA screws a lot of people and most have no clue about the accounts or that they are old accounts that pop up the year they are due to fall off. That is what happened with us. The other one was that our auto loan was paid off in Dec. 2002, but they claim they never got the payment. Which is bull, I have the CRRR return, so I am fighting this. I ended up paying an additional payment in an effort to get the house (remember I only had a few days to do that). Backfired bigtime! They found the payment, are going to send it back, but the hit on the CR dragged the scores down to hell. We got screwed big time, but what is in our favor is that...it wasnt our fault!! By then it was too little, too late. The lender said the underwriter would only look at the scores not the reason and would not approve it. I now know that the lender the builder was using was for sh*t, and that we need a more understanding lender. All of our bills are paid off ( except for the bogus ones) and what's left are the negs to fight. My take is that most mortgage lenders want a letter of some sorts to explain the negs, this lender didnt. My other question was, is there a good online lender that anyone has had success with? They builder will only hold the property but for so long. Anyone? DellaAnn
We have contact our lawyer and will be talking to him this week. I was going to fire off a nutcase in an effort have a paper trail. No? Della
I looked at my report. No, the CA's are not in the inquiry area. They popped up at the end of last month. On my EQF report, in the area where it says Collection Accounts, there is a gas company listed for Risk Management Alternatives. Balance of $100, balance date 02/03, last activity 09/97. Assigned 01/03. It has a North Augusta, SC address. It is not listed in the credit information. This is brand spanking new! We dont even use gas! Della
Hmm~ I've got my own conspiracy theory that many other believe too regarding RMA and Equifax. RMA can sometimes be considered to be the equifax CA. It is nearly impossible to get an RMA account off of Equifax and they are close bed partners. Here's my theory. Many can dispute or agree with this, but I would like to open a dialogue about it. I believe that EQ saw that you were in the process of getting a mortgage because of your CR activity and tipped off RMA. It's happened before to me and I've read complaints on this board about it. I'm just trying to get to the root cause of how this thing popped up in the last minute. I don't believe in coincidences, so....that leaves only explainable things.
No letters Dell Ann, see a lawyer!!! Monday morning!! Forget the nutcase. Everyone here wants to use the nutcase for everything. You get yourself a lawyer, and those derogs will be gone the next few days, I promise. Rblues is right - the CRA's notify the CA's you are applying for credit and they ambush you. There used to be a description of this service on their website, but they have removed it. Probably because we were spreading the news everywhere. You see posts from people who try to remove an old address and are told it cannot be removed because it is connected to a tradeline on their reports. The people ask what tradeline? The CA answers "it is a hidden tradeline." That is what this is. The CRA's allow the CA's to sign up for a service that notifies them of certain types of acitivity on your report, to avoid detection (so they can ambush you) the tradeline is not on the report you see, only on the report the lenders see. We have seen it before. So, get yourself a lawyer. This is illegal.
I had a ton of neg tradelines deleted from my credit in the last year and because of it I was able to get a really good credit card. I've had it for 4 months now and no CA's or creditors that had negs on my reports have tried to contact me in the last few months or insert any new negative tradelines. Is this only for auto and mortgages? I've even had student loans start reporting in January and it hasn't caused anyone else to add anything to my reports.
Mostly mortgages, sometimes auto. With mortgages, they know you have to pay it off to get the mortgage. With Auto, you can usually still get a loan, just at a higher rate. So, they know they will get paid if you are applying for a mortgage.
If you have to pay a higher cost for the house...you can ad that that to your lawyers bill that the CA'S will have to pay for your DOWN PAYMENT.
