Loan Questions

Disputed items on your credit report are NOT an automatic problem. It simply means additional questions must be asked / reviewed by the underwriter. FOR FHA, disputed accounts totaling less than $1,000, the loan is not automatically required to be manually underwritten when an 'Accept/Approve' is received. Loans with disputed accounts equal to or greater than $1,000 must be manually underwritten.

Disputes need to be removed.. the main reason is that your credit score is not correctly displayed when you have disputed items.. Fair credit reporting laws say that when an account is disputed, the weight of that particular account, be it positive or negative, can not be considered when calculating your credit score.. so your 656 score will change once the disputes have been removed.. most lenders have access to sources that enable us to help you get disputed items removed, and it can be done in just a few days.. .. I'm a Broker here in Scottsdale AZ and I only lend in Arizona. If you or someone you know is looking for financing options, feel free to contact me or pass along my information. 480-287-5714 WilliamAcres.com

Alicelfagan653: there is a new guideline that requires that there are no credit items in dispute. Even if the account is closed and has a zero balance the statement of "in dispute" must be removed before you can buy a home or do a refinance. Why won't the creditor remove the disputed item.

If you are doing a conventional mortgage this really should not be a problem for you. Ask your loan officer to look into additional resources for you. Even with FHA this should not be a problem for you. You might want to look for different lender in your area.

fingerhut has been known to take a strong stand on credit issues. If the account has been resolved they should be willing to remove the statement of "in dispute" since it is no longer in dispute. I would try calling them again and speak to another person. If that doesn't work we can get items such as this removed with the proper documentation during the loan purchase or refinance process. We are licensed in DC and would be happy to assist.

Hello,It seems as if the issue may be getting Fingerhut to understand exactly what is needed exactly. I have spent many hours on conference calls with creditors on this exact issue and it often comes down to communicating properly. I'm happy to help if you decide not to continue working with your current lender. I'm located in downtown Silver Spring, MD so we can meet in person if necessary. I can be reached by email at robhanson@emortgagegroup.com or by phone at 240-752-7549. Good luck!

It depends on the type of loan and the lender you are working with. In some cases you will have to remove the dispute - essentially end the dispute with Fingerhut, even if it is not resolved. That is the only way they can remove it, if you notify them officially that you are ending/cancelling your dispute of that issue.