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what a mess....

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hi everyone.

i am new to this board so let me explain my situation quickly to see if anyone can give me some advice.

my wife and i (hereinafter referred to as we ;-)) started construction of a home about 6 months ago. we are finally moving towards closing at the end of the month or beginning of next month. mortgage co pulled CR and we found out that my score increase (617) but my wife score fell (579) they are using her score because she earns more. i am freaking out. i dont want to get "raped" just because of a lousy score. all the negative activity in our CR is at least 3 years old but there are acounts that are showing up like 4 times and others three times etc. one of the account numbers is showing up as brand new even though it carries the same accnt # as a duplicate that was opened in 2000. i have not disputed anything or done anything on the advice of "people" so as not to put my score at risk before closing. but wtf it looks like i got screwed anyways. is there anything i can do before i sit down to close? my next step is going to be disputing the items seperatly and fedex ing them to the CRAs

Can i use Fed ex or do i have to use the postal service certified registered mail? should i just try calling them and trying to straighten it out over the phone?

any insight will be greatly appreciated as it will affect the course of my life for a long time to come. sorry to carry on. thank you

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Make yourself the primary borrower and add her as the co-borrower. If all you need her for is the income component, I don't think it should matter as much if she has a lower score.

If you have multiple accounts showing for one negative TL, dispute the accounts as not mine, and when they are verified, sue the CRA's for not doing an investigation and the data furnisher for willfully providing inaccurate information.

Use the USPS and send the information CMRRR. Start a paper trail, because if this DOES wind up being a SNAFU, you'll need documentation to successfully sue. On the other hand, provided you covered your bases and it is a SNAFU, and you don't get approved, the data furnisher and CRA's could wind up buying you a new house.

I'd be talking to a mortgage co, like yesterday about what sort of rates you can expect. You need to get your scores above 620, at least one of you to have a possibility of avoiding subprime rates and mortgage servicers, which you do NOT want.

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thanks for the quick reply. i am not worried about not getting approved.... i dont want to get bent over. i will follow up and start a paper trail though to see how far that gets me. i should have started earlier though. i am not interested in getting a hand out from the CRA and having them buy my house for me. nor am i really interested in suing them since most of that activity will take more time and trouble than it is worth. of course..... i have not started dealing with them and i may change my tune later on when i report that i have decided to drag them to federal court. know any good attorneys? :-0

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if i where to pull my credit report from each agency would that be showing on my CR as inquiries or are they bumps or what ever you call them? thank you for all the help this board is an amazing resource. i almost feel like an expert after reading all this info and you know what? i feel alot calmer.

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You WILL get approved, I have no doubt about it. I am sure they will be no shortage of predatory lenders willing to do the loan for 5 points and at a 9.9% rate.

when you pull your OWN credit report, it is not listed as a hard, score hurting inquiry.

One of your scores at a minimum NEED TO BE over 620. That is the prime/subprime cut off, typically.

If the CRA's do something dumb like not investigating or verifying inaccurate info and that leads to you paying 100k over what you would normally be approved for or blows the deal entirely, would you not be a little disappointed? Would you not be materially harmed?

If you aren't interested in suing, then you aren't really interested in fixing your credit, since that is the ONLY thing the CRA's pay attention to. If the CRA's cared, more than half of all Credit reports wouldn't have inaccurate info.

I am not saying you should be looking for a judgement, per se. Most likely they will pull their heads out of their a$$ when you send a federal summons. Just FYI, if they blow the deal for you or force you to pay subprime rates when you really qualify for prime rates, you have actual damages, you'd be a fool not to sue for. I don't know what your time is worth, but a spending some hours working with a lawyer when the CRA's owe you a house seems worthwhile to me.

Dispute the accounts as "not mine" and when they are verified (and they WILL BE verified) start prepping to sue.

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