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Need help with getting credit back up QUICKLY!

I was pre-approved for $780,900, based on FICO of 780. My soon to be ex defaulted on our 2nd property mortgage (which he has been paying) and my credit score dropped by 98 points in the last 13 days...this has become a domino effect with other creditors. What will happen to my pre approval? by d33wheeler681 from Brentwood, California. Dec 6th 2019 Reply


Expect the same to follow suit with the other bureaus. You can try the following solution to see if the lender will be "Human" about this situation. Get on a conference call with your Ex and the lender he defaulted with. Explain the situation and provide any documentation you can evidencing that you are no longer responsible for his debts (hopefully you have that in a divorce decree listed out). Then see if they will provide you with a letter so that you can give to your lender for a "Rapid Rescore" with the bureaus. This is your best bet. Otherwise, move forward with a Non Qm loan for your current purchase in Brentwood. So sorry to hear you have to go through this. I'm sure it's derailing your plans for a home for the holidays. Feel free to call me if the above doesn't make sense or you need further help. 916-560-1230

Dec 6th 2019
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Dan Paladin (dpaladin)
#1 ranked lender in California - 615 contributions

May not be good news...not just due to score drop but a current mortgage related late could jeopardize the type of loan you could qualify with. Your current lender should be able to guide you...if not feel free to reach out to me. 562.254.5616.

Dec 6th 2019
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Alex Shik (alexshik)
#383 ranked lender in California - 3 contributions

Hello, very sorry about your current challenges. Unfortunately, this will affect your Pre Approval as all programs/rates are fico driven. The Only way you can successfully remove the derogatory credit and all of the mortgage lates from your credit report is to contact the (2nd property) lender directly and demand a "Satisfaction" or "Deletion Letter". "which they will not provide easily, but you should still try and be super firm and explain the Divorce decree to help your case. (it will only help you if the lates occurred after the Divorce was finalized) But no worries we do have plenty of other alternative programs if you still like to purchase a new home. Please feel free to contact us at any with any additional questions. Warm regards, Alex 833-375-5654 5 STAR Rating with BBB www.optimumfirst.com

Dec 6th 2019
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