Jack Lewitz (Exit Strategy Realty)

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Rainmaker
1,712,551
Joe Pryor
The Virtual Real Estate Team - Oklahoma City, OK
REALTOR® - Oklahoma Investment Properties

Support Senator Elizabeth Warren in her quest to correct this issue.

Apr 20, 2016 03:41 AM
Ambassador
6,362,764
Bob Crane
Woodland Management Service / Woodland Real Estate, KW Diversified - Stevens Point, WI
Forestland Experts! 715-204-9671

write a letter to the credit agency to dispute the issue.

Apr 20, 2016 01:48 AM
Rainmaker
1,157,785
FN LN
Toronto, ON

If it is a credit bureau issue, contact the credit bureau.

Apr 20, 2016 01:07 AM
Rainmaker
3,988,007
Debbie Reynolds, C21 Platinum Properties
Platinum Properties- (931)771-9070 - Clarksville, TN
The Dedicated Clarksville TN Realtor-(931)320-6730

Credit scoring is very complex. Paying off a loan doesn't automatically give a huge bump in scores.

Nov 22, 2016 06:45 PM
Rainer
69,794
Shawn and Angela Miller
Berkshire Hathaway HomeServices Amabassador Real Estate - Lincoln, NE
Lincoln and Omaha, NE REALTORS®

How long ago did they pay off the student loans? I know it takes a short time, maybe a few weeks for credit reports to change. I can't see student loans affecting credit scores that bad unless they were delinquent. Yes, student loans are a debt, but I don't believe they are BAD debt like credit cards. It will affect their debt to income ratio and will affect their total loan amount. Sounds like, if their credit is so low to get a loan, that something else is probably affecting it. Their lender should be able to guide them to services to help repair their credit score.

Apr 21, 2016 11:53 PM
Rainmaker
4,557,997
Michael Jacobs
Pasadena, CA
Pasadena And Southern California 818.516.4393

Stuff happens.   Dispute.  Show proof.  Rinse.  Repeat.  

Apr 21, 2016 11:03 PM
Rainmaker
823,379
Susan Laxson CRS
Palm Properties - La Quinta, CA
Realtor in San Diego, CA & Naples, FL

Send a letter with proof of payment to the credit agency and ask them to delete it or add the explanation to the account.

Apr 20, 2016 09:51 PM
Rainmaker
3,986,196
William Feela
WHISPERING PINES REALTY - North Branch, MN
Realtor, Whispering Pines Realty 651-674-5999 No.

They need to deal with the credit reporting agency.  It has to be fixed or the client may be dead in the water

Apr 20, 2016 12:39 PM
Rainmaker
1,499,368
Ryan Huggins - Thousand Oaks, CA
https://HugginsHomes.com - Thousand Oaks, CA
Residential Real Estate and Investment Properties

Dispute it with the creditor and/or the bureau.

Apr 20, 2016 07:19 AM
Rainmaker
1,466,207
Michael Setunsky
Woodbridge, VA
Your Commercial Real Estate Link to Northern VA

Jack Lewitz Send proof of pay off to the credit bureau.

Apr 20, 2016 07:12 AM
Rainmaker
5,583,178
Barbara Todaro
RE/MAX Executive Realty - Happily Retired - Franklin, MA
Previously Affiliated with The Todaro Team

proof of payment to the credit bureau.... they will correct errors....

Apr 20, 2016 06:26 AM
Rainmaker
1,525,616
Sybil Campbell
Fernandina Beach, FL
Referral Agent Amelia Island Florida

I leave that up to the mortgage loan officer, it is not my field of expertise.

Apr 20, 2016 06:05 AM
Rainmaker
1,619,716
Inna Ivchenko
Barcode Properties - Encino, CA
Realtor® • GRI • HAFA • PSC Calabasas CA

I heard that 25% (!!!) or credit reports have significant mistakes affecting our abilities to borrow money. 

Some of my lenders, would recommend to attach a letter explaining the situation and a proof in your case that a loan was paid off. 

Apr 20, 2016 05:55 AM
Rainmaker
4,800,082
Gabe Sanders
Real Estate of Florida specializing in Martin County Residential Homes, Condos and Land Sales - Stuart, FL
Stuart Florida Real Estate

Notifying the credit agency would be a good start.

Apr 20, 2016 04:56 AM
Rainmaker
5,772,353
Ron and Alexandra Seigel
Napa Consultants - Carpinteria, CA
Luxury Real Estate Branding, Marketing & Strategy

Jack,

It seems everyone has given a great answer, and a thank you Joe Pryor for letting us know that Elizabeth Warren is trying to correct this issue.  A

Apr 20, 2016 04:07 AM
Rainmaker
1,237,820
Sam Shueh
(408) 425-1601 - San Jose, CA
mba, cdpe, reopro, pe

Get a credit repair pro.  I made the mistake paying off my NDEA first two years after school.  I found out I was expamted to pay it back because of my profession.

Apr 20, 2016 03:35 AM
Rainmaker
2,707,721
Lisa Von Domek
Lisa Von Domek Team - Dallas, TX
....Experience Isn't Expensive.... It's Priceless!

If the lender isn't working on correcthing this...Contact the credit agency that is in error, there are rules governing their reporting.  It's a pain, but jump over the first person that answers the phone and speak to a manager.

Apr 20, 2016 12:55 AM
Ambassador
3,340,605
Kathleen Daniels, Probate & Trust Specialist
KD Realty - 408.972.1822 - San Jose, CA
Probate Real Estate Services

That is a lender question. We have many GREAT lenders here in the AR community ... and they have all written lots of blog posts about this.  Mr. Google at your service?

Apr 20, 2016 12:42 AM
Rainmaker
2,776,741
Richie Alan Naggar
people first...then business Ran Right Realty - Riverside, CA
agent & author

When dealing with forces that employ the golden rule i.e. I have the gold and I rule...it is tough to navigate but doable if one finds that passageway.

Apr 20, 2016 12:41 AM
Ambassador
5,036,221
Jeff Dowler, CRS
eXp Realty of California, Inc. - Carlsbad, CA
The Southern California Relocation Dude

Can they request a correction and provide appropriate documentation? Does the lender have any ideas?

Apr 20, 2016 12:10 AM
Rainmaker
582,056
Eric Kodner
Madeline Island Realty - La Pointe, WI
CRS, Madeline Island Realty, LaPointe, WI 54850 -

Credit reporting bureaus do a lousy job. Not enough oversight.

Apr 19, 2016 11:35 PM
Rainmaker
3,071,489
Tony and Suzanne Marriott, Associate Brokers
Serving the Greater Phoenix and Scottsdale Metropolitan Area - Scottsdale, AZ
Haven Express @ Keller Williams Arizona Realty

interesting question - parked and reading!

Apr 19, 2016 11:34 PM