Requested

I paid some charged off debt as requested by a mortgage lender, will this increase ny credit score?

May 162011

In applying for a mortgage the lender requested that I pay some specific debt. One an installment loan and a few other small ones. I have done that, will my credit score increase? I also have some charged off credit card debt listed but it is also listed with a collection agency. In reviewing my application, are they NOT looking at that and should I contact the ORIGINAL creditor that charged off and negociate the ORIGINAL amount which is considerably lower because interest has accrued with the collection agency. Doing so would that increase my credit score and can I have the debt collection reporting removed if I do contact the original creditor?

Payoff is being requested on a note that I hold. Payments have been missed by the debtor, how do I calculate?

Mortgage Loan 3 Responses »

Jan 252011

I sold my home and hold a note on the home (The buyer needed help to qualify for the loan so I hold a 48 month $ 10,000 note.) Payments have been missed, about 6, some have been doubled. Overall about 5 payments are past due. I have the information in a microsoft works spread [...]

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