Need Advice Fast Please
We are in the process of refinancing our rental property---we were approved but was for under the amount we asked for--when broker sent it back to underwriting to ask for more money, they pulled credit again, and this time a 30 day late popped up--I paid my credit card just not the full amount---76 months with no lates and now this...I called credit card company and begged and pleaded to no avail....any other advice?[ Edited by chweber on Date 12/01/2004 ]
is it showing up in all reports?
it sounds like it---we are still "technically" approved by another lender--they are going with the original credit report with no lates.... but they have a 2 year ownership clause that we are trying to over ride--we've owned the house for 23 months...they want 24 months......
Well I am not sure what you told them, but if you told them you were trying to refinance your place they probably won't work with you as they may think that is a way for you to pay them off and they make money off the interest of your credit card.
This isn't a quick solution, but you should write a letter of dispute to both the CC company and to the CRA's. Give a copy of the letter (don't mention anything about it not being the full amount) and a copy of your check for the month before, the month of and the month after to show you made the payments.
You should also consider transferring balances to other cards to prevent them from making the money off of you. I would think as a good faith and if you truly had no lates for 76 months that they would work with you.
If you want to get really extreme, though this will majorily impact your credit unless you have other accounts that have been open as long. Tell them you are going to close the account if they don't do this one time favor and then start the process of doing if they don't.