Consumer Disputes Account Info

[jwsmartin]

HELP!!!

I have searched and searched and I cannot find out how to resolve this.

We are about to close on a home and they said the only thing standing in our way is "consumer disputes this account" on our credit report! I have spent hours trying to correct this and can't seem to figure it out!

This just can't be right. We have a right to dispute information if it isn't legit. But then we cannot be approved for a loan because that dispute is still showing up on the credit report??? How can that be?

Please, someone tell me how to fix this. It's crunch time and I've tried everything!

[HHM]

Whoever your mortgage broker is needs to get off his lazy ass and fight for you. Write a letter explaining the situation and nature of the dispute and have your mortgage broker forward it to the loan underwriter for your mortgage.

[jwsmartin]

He said the report must say it specifically. I asked about giving the underwriter a letter and he said it needs to be off the report.

I've read these horror stories all over the internet. People not getting approved for loans because of one dispute.

We are going to try a third party credit reporting agency the lender uses. Maybe that will help.

Thanks for the reply.

[awayalways]

Most mortgage lenders can fix it using "rapid rescore"

[jwsmartin]

Hmmm, tell me more. What is rapid rescore? The lender uses a third party to compile credit info from all bureaus. They can also change things but at a charge. Is this what you are talking about?

Thanks for the info!

[awayalways]

Most lenders will charge for rapid rescore but they can repair your credit file within a matter of days. Just google rapid rescore as there is a lot of information on the internet about it.

[jwsmartin]

Sounds kind of like what my lender has. I contacted him today to try to have one removed... example...

I have a Discover account that shows in dispute on Transunion, but not Experian or Equifax.
I called Transunion and they said it was reported by Discover.
Discover says it is not and sent an electronic update two days ago.
Transunion says they have no update and that it would have shown immediately.
Discover says the lender can call them to verify.
My lender says he will have his credit report company call them, verify it, then have them call Transunion to update the account.

If this works, then I should be home free.

Thanks!