{"id":1383,"date":"2015-06-13T14:27:47","date_gmt":"2015-06-13T14:27:47","guid":{"rendered":"http:\/\/teammovemortgage.com\/?p=1383"},"modified":"2020-07-13T22:34:48","modified_gmt":"2020-07-13T22:34:48","slug":"credit-disputes-problems","status":"publish","type":"post","link":"https:\/\/teammovemortgage.com\/blog\/credit-disputes-problems\/","title":{"rendered":"Credit Repair Consequences – How to Remove Credit Disputes"},"content":{"rendered":"

These days, so many people\u00a0are disputing accounts directly with the credit bureaus or by using a credit repair company.\u00a0\u00a0A little know aftereffect deals with credit disputes remaining on the reports.\u00a0\u00a0Thus, mortgage lenders may not be able to use the credit report or credit score for a mortgage approval.<\/p>\n

Why Credit Disputes Causes The Following Problems With Mortgage Approvals:<\/h3>\n

When trade lines are disputed on credit reports, that item is not figured into the credit score<\/strong>.\u00a0 This means that a person’s credit scores are not indicative of the actual items reporting on credit.\u00a0 For instance, someone may have a 660 credit score, but a $5,000 collection is in dispute and not reflected in the score.\u00a0 If the dispute is removed, the score could even be in the 500’s so this credit score may not be used until the dispute language is removed and a new score is pulled.<\/p>\n

Credit Mistakes to Avoid Prior to Closing<\/a><\/h2>\n

When trade lines are disputed on credit reports, the automated underwriting systems used by <\/strong><\/p>\n

\"removing
How to remove credit report dispute language for an accurate and usable score for mortgage loan approvals<\/strong><\/figcaption><\/figure>\n

mortgage lenders for pre-approvals do not factor the disputed items in the decision<\/strong>.\u00a0 Therefore the pre-approval is often invalid until the borrower removes the dispute, new credit is re-pulled, and then the automated underwriting is run again with the new scores.\u00a0 There are cases that disputes that are a certain age, under a small dollar amount, or medical may be ok.\u00a0 That is where it is important to speak to an experienced loan officer.<\/p>\n

How to Dispute Accounts On Credit<\/h2>\n

You can dispute inaccurate information on your credit report for free by going to www.annualcreditreport.com<\/a>.\u00a0 Pull your credit from ALL 3 BUREAUS and dispute inaccurate information.\u00a0 Don’t dispute everything on your credit just because you can.\u00a0 If the items disputed are not removed, make sure that you have the dispute language removed from your credit reports so that when you choose to have your credit pulled, the scores are accurate and usable.<\/strong><\/p>\n

If you choose to hire a credit repair company, make sure that you ask specifically how they handle the process and make sure that once you are complete with their program, that they will help you remove all dispute language<\/strong>.<\/p>\n

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How To Take Accounts Out of Dispute Quickly & Free:<\/h2>\n

There is currently a free way for a consumer to have accounts taken out of dispute directly with the bureaus.\u00a0 Make sure that you do this for anyone in the household that has disputes.\u00a0 Please see the instructions below to remove credit disputes for Equifax, Experian, and Transunion:<\/strong><\/p>\n