Posts Tagged ‘ mortgage loan ’

Quitclaim deed does not override contractual obligation

Dear Experian, 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?. - MJK

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Multiple auto loan inquiries count as only one

Dear Experian, I was shopping for a car recently and multiple lenders checked my credit. I have checked my credit report and all inquiries are showing up. I thought when shopping for a car the inquiries count as one? - SLA

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