 Wed, Feb 6 2008 7:04 AM
|
|
delcolord
|
Fico scores and mortgages
|
In the recent past months with all the talk about subprime mortgages,
credit scores etc, the impression one gets is that credit scores, fico
scores, are about people with bad credit and it is their fault. Anyone
who has been involved in the business for a while knows that the system
is flawed and anyone can be affected by credit hits that are mistakes,
vengeance or whatever. With restrictions on mortage loans tightening,
it is time the public contacted their congress persons and demand
fairness and corporate accountability.
It is not uncommon for credit card companies to be slow in processing a
payment, thus taking it across a payment cutoff date, reporting a late
payment, this in turn changing the fico score and this in turn giving
justification for raising their interest rate. This is one of many examples I
have encountered.
I would like to hear your comments and stories.
|
|
|
Sun, Feb 10 2008 8:52 PM
|
|
wkeyser
|
Re: Fico scores and mortgages
|
|
Credit restoration and private lawsuits are the way to get things done. Our government is not responsible to wipe our noses anymore. We are adults. You should get your paperwork together (i.e. proof of payment, cancelled checks, payoff letters, settlement sheets, etc) and directly dispute with the credit agencies. Have a viable Credit Restoration company fight on you behalf. I highly recommend Tom Camarda 732-744-4719 for this. I am in the mortgage business, so i run across this all the time and tom has come through everytime. The reason I am so adamant about this is because there are laws that protect us already. These laws need to be quoted when discputing with an intimidating credit corporation. The LAW already is written in our favor.
Thanks
Walt Keyser
|
|
|
Sun, Feb 17 2008 8:11 PM
|
|
theresa
|
Re: Fico scores and mortgages
|
I had a similar situation. Paid monthly for a utility bill, but not
always in full. UGI hit my credit with 30 days late. I called the
public utility commission , who told me to call the attorney General
(consumer affairs) office. I am filing a complaint against them. I took
a 60 point hit on that. I have nine mort. payments and no late
payments. I refuse to let them get away with this. Thanks for
hearing me out. I feel better now. Theresa
|
|