My New Blog

January 30th, 2011 10:09 AM

 

I thought this subject was worthy of its own e-mail as credit "disputes" keep rearing their ugly head.
 
Ever hear that to improve your credit score you should dispute items on your credit report? Well think again! It's worth mentioning to your clients, that if they have disputed any accounts, loans, credit cards, anything that might show up on their credit report, they MUST remove all disputes (and any reference to the word "dispute") before they can obtain a mortgage of any kind. This has come up far more often that you might think, we're seeing several cases a week.
 
I want you to be aware of this because even though it's not your job to monitor your client's credit, a disputed account can considerably delay your closing. Disputes can be removed but be forewarned, it may take some time and could cost your client more money.
 
If you have any questions, I'm always available to help you out.
 
 
Regards,
 
Tom
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Tom Fallos

SR. LOAN MANAGER

NMLS#258107

DIRECT: 480-621-3223

tom.fallos@imortgage.com

Web Site: Tom at iMortgage

Blog: Mortgages – Now You Know

Blog: Tom Fallos – Public Forum

 

1757 E Baseline Rd., Suite 141
Gilbert, Arizona 85233

 

Posted by Bill Salvatore on January 30th, 2011 10:09 AMPost a Comment (0)

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