What now?

[sharizap]

I had a question about how to handle a CO with Merrick Bank a little while ago. (one of the original threads is here)

The end result, after much debate and discussion, both here and with my dh and the LO of the mortgage company we're working with, was that we'd accept Merrick's 50% settlement offer. They will not do a PFD, but considering the fact that we are trying for a mortgage later this year, we decided that was the best way to go for now. I spoke to Merrick, and they were supposed to be sending a settlement offer in writing. That was almost 2 weeks ago and I have received nothing as yet.

Now, otoh, I'm not entirely opposed to letting this one go if they don't follow through. The 7 years is up next year, although according to a post on the thread noted above that still doesn't mean it won't be visible to the mortgage company after that time. The LO DID say, however, that they didn't necessarily NEED to see every single thing paid off, just an improvement, and a rise in scores.

I'm thinking maybe someone at Merrick dropped the ball on this, and maybe we should just leave this one alone for now, and work on the ones that will actually improve his score. I guess that if they DO follow up and send the offer, we'll have to go through with it since we said we would, but maybe it's fallen through the cracks by now. I thought I'd have something in the mail from them by this time.

So what do you all think? Should I be proactive and find out where the paperwork is or let it go? Remember too, they said if it wasn't resolved it would be sent to a CA within a month or so. I really don't want that to happen either.

*sigh* It's never a simple, black-and-white answer, is it?

[Amerikaner83]

*sigh* It's never a simple, black-and-white answer, is it?

No it's not.

If Merrick mentioned sinding to a CA in a month or so....I would be wary. I'd be proactive and call up whomever y'all talked to before with a "hey, just a reminder...looking for the paperwork here.." sort of thing. A new collections TL will NOT help y'all out in any way, shape or form.

It would be nice to think that you slipped through the cracks...but the mention of a CA taking over soon worries me a little bit. Do everything you can to keep it with Merrick.

JMHO