i have a Mobile home fiance through a mortgage company in san antonio texas and that company is stating that there is a law here in texas that i must have an escrow acct. The property that the mobile home sits at is n ot financed with a bank and they did not require an escrow acct
I was with EverHome mortgage and I refinanced with Mountain States Mortgage.
The payoff amount was $ 175,000 and what Mountain states did was that they drew $ 1,000 from my escrow account with EverHome and used it along with the $ 174,000 they provided for a total of $ 175,000 to pay off the loan. Is that legal? I live in Austin, TX.
Should I send a letter to all 3 CRA’s reminding them that my DoFD was 7 yrs ago and to please take the item off of my report?
byMark Lincoln
I have my utilities which of course help, but i have heard a credit card is the best way to rebuild credit. But with my credit being not real good, no one will approve me for a credit card. I feel like i am chasing my tail in circles.
I just recently paid off all my past credit card debt. I paid off one student loan (expect the interest) and i have one student loan still active. I noticed my credit score went up, but i am still being denied. How long does it take to completely clear off my debt and how soon should i apply for credit so i can “rebuild” my credit. And do bad credit ever go away?
Mar 212011
587 to 632 (WOW)
Paid a collection account in full with OC, no CA involved. The OC said they would report PIF, no balance. (BUMMER)
The OC didn’t report the acct as PIF, they did even better. They reported the acct as paid as agreed, no balance, no past due, closed at consumers request. (WHAT!!)
Now this 1 acct was my only revoving acct with a balance, so it was showing 100% utilization of revolving acct. It also was a 60+ day late.
So when it changed from collection to paid as agreed, it took off my only 60+ days late, and i showed a current credit card payment, and my score went up 54 points.
I still have 2 collections on my CR. Just disputed 1 of them because it was a duplicate that should have bben removed and will use a PFD with the other. Hopefully will be off by the end of April. I’ve sent out 7 GW letter (hopefully at least 1 will pay off), and that’s it. Can’t wait to see the new score when the collections fall off.
I only have 1 revolving acct and it has been sent to collections/charged-off in 2009. My fico is showing 100% utilization of 1 revolving acct. It is also showing multiple 60+, 90+, and 120+ days late for this 1 tradeline. I called the OC (no CA) and PIF. She stated that they will update PIF (I have received the PIF letter from them), close the acct, and delete all of the late payments. She also told me sometime the CB don’t update like their suppose to and I should dispute it.
So , I paid it off on March 2 and I disputed on March 5th. Was that too early? I know it takes 30-45 days to finish a dispute. I disputed online, and it showed that I should have my answer by April 1st. (soo hope it will be deleted). They haven’t reported anything on my CR as of today..
Also, since my 100% utilization will be gone, and the acct will be closed should I get a secure card, so I will have a revolving line of credit?
Will this boost my score by alot? I only have 1 more collection account that I will try a PFD.
Dec 062010
I have been 3 months with late to no payment on m GAP, CAP ONE and Orchard accts, i would like to know if anyone has a contact for any of those companies i mentioned. I really need help with this and would appreciate any information. Also when do these companies close your acct if you are late or no payment so how long?
I’ve been sending out GW letters every couple of months for the past six months, and Cap1 is one of my targets. Every time, they send me back a letter asking to clarify my dispute (as if I were contesting the veracity of the claim, not just asking for GW). I was just looking at my report and noticed that they’ve marked my acct “Acct in dispute – reported by consumer” on EX and TU. Also, EX and TU are now not including the Cap1 credit limit or balance into my calculated totals, or even counting it as an open credit card at all. This is unfortunate since Cap1 is my highest CL by 5x and has a $0 balance.
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To clarify: I’m using CreditSecure via AmEx. In my account details, it DOES say “open” under Cap1, but it also says “acct in dispute.” In my credit summary, it only lists that I have 2 credit cards (Cap1 is the third) and shows my total credit limit between all lines as $900 (when it should be $3400…ouch). This is only for EX and TU. EQ is reporting normally.Â
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Has anyone else experienced this? I want to keep trying to GW them (I have a 90-day late from early 2008), but I don’t want to prevent the acct from reporting the limit/balance in the meantime. Should I try calling instead, maybe?
Nov 122010
Back in September I sent a DV letter to Paragon Way and they responded(9-28-10) with a letter that they needed some time. Well I get a letter today from a new Collection agenccy Constar Financial Services LLC representing Paragon Way INC. Constar even pulled my credit cause I saw it on my credit montoring. The OC was Ge Money Bank/ Cheveron Texico card that I went late in 2008. Remember Paragon did not provide debt validation and its going on 60 days. This is what the letter from this new collection agency Constar out of Phoenix, AZ:
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Current creditor: Precision Recovery Analytics
Acct #:xxxx
Orginal creditor: GE Money BAnk
acct# xxxx
prinicpal:1363.42
total due: 1363.42
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Our client Paragon Way inc has placed your acct in with this agency for collection.
Your acct is seriously past due and must be paid in full or we will proceed with appropriate collection activity. Plz remit the entire balance due to our office using the returned envelope provided. If you have any questions or wish to discuss your acct with one of our representatives plz call us at the toll free number listed below.
Unless you notify this office within 30 days after receiving this notice that you dispute the validity of the debt or any portion there of this office will assume this debt is valid. If you notify this office in writing within 30 days from receiving this notice that you dispute the validity of the debt or any portion there of, this office will obtain verification of the debt or obtain a copy of a judgement and mail you a copy of such judgement or verification. If you request in writing within 30 days after receiving this notice this office will provide you the name and address of the OC, if different from the current creditor. If payment is received in our office all collection activity will cease.
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Thats what it says..What do you recommend? How can Paragon have another collection agency try to collect when they didnt respond to the DV letter with proof? Plz help and thank you in advance…
How does doing a loan mod affect escrow acct?
We are in the middle of a loan mod with BOA with our FHA loan. We have escrow for our taxes, insurance, etc. How is the escrow affected since there are no house payments made while in the loan mod?
In other words, will we be responsible for paying the homeowners ins, property taxes out of pocket when due or is that already covered?
The main thing I am wanting to see if what will happen at the end of this year when all taxes and insurance are due. Will I need to pay that out of pocket?
Best answer:
Answer by Iffy
You need to send your lender enough of a payment to keep your escrow account up to date.
What do you think? Answer below!
Nov 112010
ca sent me letter stating they no longer collect for my acct and they will delete. it’s been over 45 days and they haven’t yet. should i contact them by fax and send them a copy of the letter to remind them or should i just dispute it with the cb?
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thanks in advance