I recently had my credit checked for a preapproval on a new home purchase and found that my credit scores and my wife’s had dropped from the high-700s to mid-600s due to two late mortgage payments on an investment property that we had quitclaimed to a family friend.
I spoke with the family friend who advised us that she never received the bills. She said it’s all paid up to date now, but I am so mad that our credit score dropped as a result. I want the property to be put in her name so that our credit will not be affected if she misses a payment again.
Is there any way to show proof to the mortgage company that the property was quitclaimed in 2009, and therefore, the bill does not come to us?.
Categories: Report Advice
When I got married my husband put everything in his name (utilities, house, etc.). I still have two credit cards in my name. How can I maintain good credit scores going forward with limited items in my name?
What is the appropriate balance-to-limit or debt-to-income ratio? I do not maintain a balance on my credit cards but worry that I have credit limits that are too high and could impact my overall credit.
I only have one debt which is less than $1,000. I also have two credit cards. Together they have a balance of about $2,000 each month, but I pay them off monthly. Why isn’t my credit score higher?
How do I have old credit card accounts that are long ago closed or paid off removed from my credit report? I know that my score is negatively affected because of so many “open” accounts!
I have student loans on my report with different amounts but the same account number. They are all under accounts in good standing. I think that they are repeated. They are listed nine times! I also have two other student loan accounts with the same account number but with a different company. I have consolidated my school loans twice so I’m assuming that they are from before I consolidated. Do all these hurt my credit? They are all paid/never late/closed, but I’m concerned it shows that I over extend myself.
I co-signed college loans for my children. They are now both out of school, working and re-paying the student loans on time with no delinquencies. I would like to remove my name as co-signer. Will this increase my credit score, and will it decrease their credit scores?
Will adding one or more authorized users (my husband and my daughter) to my credit card accounts affect me negatively? My daughter will not have a card to use; I only want to help establish her credit.
Why has my credit score dropped 42 points? There is a late payment on one of my cards which has since been brought current, and four of my accounts have been paid off and have a “0” balance. Why doesn’t my score increase as quickly when I pay off accounts as it does when I miss a payment?
We filed bankruptcy two years ago and want to either refinance our home or possibly buy a new home. When the bank pulled our credit they said that our existing mortgage is not being reported on Equifax, Experian or Transunion. We have all of our monthly statements from our lender verifying that we have been paying on our house for the past 2 years. How do we show this information to you so you can start reporting all of our mortgage history on our credit report?