Karen Scheuerman, Fair Credit Reporting Act violations (Credit Justice, LLC)

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Debe Maxwell, CRS
www.iCharlotteHomes.com | The Maxwell House Group | RE/MAX Executive | (704) 491-3310 - Charlotte, NC
The right Charlotte REALTOR!

Sorry, I haven't had any experience with buyers having had collections that impacted their purchases. Best of luck with that, Karen!

Oct 08, 2018 07:52 AM
Rainmaker
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Evelina Tsigelnitskaya
SIB Realty - Sunny Isles Beach, FL
www.SIBRealty.org 305-931-6931

Thank you. 

For sure, if we need your help we will contact you.

Oct 08, 2018 08:05 AM
Rainmaker
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Valeria Mola
SIB Realty - Miami, Sunny Isles Beach - Sunny Isles Beach, FL
305-607-0709 SIB Realty Condos for Sale and Rent

Thank you. 

Oct 08, 2018 07:56 AM
Rainer
274,437
Caroline Gerardo
Sun West Mortgage Corporation - Newport Beach, CA
C. G. Barbeau the Loan Lady nmls 324982

Medical collections and BK records are supposed to not show on the mortgage credit report now BUT they pop up when we do our due dilegence. Collections that might become lien status have to be paid or release, this can be a mess if buyer made the mistake of releasing contingency before lender found them 

Oct 08, 2018 11:19 AM
Ambassador
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Alan May
Jameson Sotheby's International Realty - Evanston, IL
There's no place like home.

I haven't run into this issues with buyers, either.  Sorry.

Oct 08, 2018 07:55 AM
Rainmaker
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Michael Jacobs
Pasadena, CA
Los Angeles Pasadena 818.516.4393

Rather than knock a company,  my preference is to work with trusted mortgage lenders. 

Oct 08, 2018 11:01 AM
Rainmaker
875,830
Doug Dawes
Keller Williams Realty - Topsfield, MA - Georgetown, MA
Your Personal Realtor®

I have no answers for you on that one

Oct 08, 2018 09:04 AM
Rainmaker
5,388,650
Barbara Todaro
RE/MAX Executive Realty - Retired - Franklin, MA
Previously Affiliated with The Todaro Team

the team members have not had any mumbling about this....

Oct 08, 2018 08:59 AM
Rainmaker
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Kathleen Daniels, Probate & Trust Specialist
KD Realty - 408.972.1822 - San Jose, CA
Probate Real Estate

I've not had that issue.  I wish you all the best with resolving this the best possible way.

Oct 08, 2018 08:13 AM
Rainmaker
778,605
Pete Xavier
Investments to Luxury - Pacific Palisades, CA
Outstanding Agent Referrals-Nationwide

After reading more details in your comments to others...that would not be a problem for a professional credit file fixer to solve, just make sure you get a legit one  (For those naysayers: This can be legally fixed following federal guidelines...nothing illegal about it).

Oct 08, 2018 11:14 AM
Rainmaker
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Inna Ivchenko
Barcode Properties - Encino, CA
Realtor® • Green • GRI • HAFA • PSC Calabasas CA

Of course, if someone has late/missed payments, debts, recorded collections, etc. it will drop their credit and affect mortgage application results. 

Oct 08, 2018 11:08 AM
Rainmaker
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Wayne Martin
Wayne M Martin - Chicago, IL
Real Estate Broker - Retired

Good luck with this issue. I have not had it rear its ugly head.

Oct 08, 2018 09:29 AM
Rainer
330,363
David M. Dwares
Title Professionals Corp. - Fort Lauderdale, FL
Title guy with a broker license

Karen, I may be misinterpreting the tone of your question, and if so, I apologize.  But just so I am clear, is there a reason why a person's unpaid debt, that has gone to collections, should not count against them, (assuming the debt is legit)?

Oct 08, 2018 08:27 AM
Rainmaker
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Mary Yonkers
Alan Kells School of Real Estate/Howard Hanna Real Estate - Erie, PA
Erie/PA Real Estate Instructor

Thanks for this information, Karen Scheuerman 

Oct 08, 2018 12:51 PM
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Jeff Dowler, CRS
eXp Realty of California, Inc. - Carlsbad, CA
The Southern California Relocation Dude

I’v not had that experience so far. Good luck

Oct 08, 2018 12:47 PM
Rainer
1,725
Karen Scheuerman
Credit Justice, LLC - Louisville, KY
Fair Credit Reporting Act violations

There must be a misunderstanding.  I'm not knocking any company.  I'm just asking if there are mortgage professionals or realtors who have seen this issue.  

Oct 08, 2018 11:13 AM
Rainmaker
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Ryan Huggins - Thousand Oaks, CA
https://HugginsHomes.com - Thousand Oaks, CA
Residential Real Estate and Investment Properties

Sorry, I work mostly listings so have not had this issue.

Oct 08, 2018 10:39 AM
Rainmaker
1,618,650
Lyn Sims
RE/MAX Suburban - Schaumburg, IL
Schaumburg Real Estate

I thought all this was supposed to change? I know that alot of things were supposed to drop off.

Oct 08, 2018 09:47 AM
Rainmaker
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Roy Kelley
Realty Group Referrals - Gaithersburg, MD

Thanks for sharing your experience.

Oct 08, 2018 08:23 AM
Rainmaker
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Nina Hollander
Coldwell Banker Realty - Charlotte, NC
Your Charlotte/Ballantyne/Waxhaw/Fort Mill Realtor

I've not had any experience with clients who have debt collectors coming after them.

Oct 08, 2018 10:49 PM
Ambassador
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Bob Crane
Woodland Management Service / Woodland Real Estate, Keller Williams Fox Cities - Stevens Point, WI
Forestland Experts! 715-204-9671

A lot of slimy folks play in the background of the lending industry, these sound like a few of them.

Oct 08, 2018 02:22 PM
Rainmaker
1,091,930
Sam Shueh
(408) 425-1601 - San Jose, CA
mba, cdpe, reopro, pe

We only deal major US lenders and do not even process out of the area loan approvals for offers. Sorry. It is the reputation of the major US Banks that has an edge.

 

Oct 08, 2018 11:53 AM
Rainmaker
3,481,908
Richard Weeks
Dallas, TX
REALTOR®, Broker

Is this a question or a promotion of your services?

 

Oct 09, 2018 04:58 AM
Rainmaker
1,353,480
Anthony Acosta - ALLATLANTACONDOS.COM
Harry Norman, REALTORS® - Atlanta, GA
Associate Broker

Thank you

Oct 08, 2018 04:05 PM
Rainmaker
571,011
The Villages Realty
The Villages Realty - San Jose, CA
"Our Performance Will Move You!"

Have not seen this issue-- yet.

Nov 04, 2018 04:38 PM
Rainmaker
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Joan Cox
House to Home, Inc. - Denver Real Estate - 720-231-6373 - Denver, CO
Denver Real Estate - Selling One Home at a Time

I have not run into this, had mostly listings this year.

Oct 12, 2018 05:47 AM
Rainmaker
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William Feela
WHISPERING PINES REALTY - North Branch, MN
Realtor, Whispering Pines Realty 651-674-5999 No.

I have not heard of this issue as of yet

Oct 09, 2018 08:53 PM
Rainmaker
881,609
Jennifer Mackay
Counts Real Estate Group, Inc. - Panama City, FL
Your Bay County Florida Realtor 850.774.6582

I've seen odd things show up as well - it's a real racket IMO

Oct 09, 2018 03:16 PM
Rainmaker
4,798,831
Gabe Sanders
Real Estate of Florida specializing in Martin County Residential Homes, Condos and Land Sales - Stuart, FL
Stuart Florida Real Estate

I don't have a clue.

Oct 09, 2018 06:29 AM
Ambassador
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Joe Pryor
The Virtual Real Estate Team - Oklahoma City, OK
REALTOR® - Oklahoma Investment Properties

Not on my planet.

Oct 09, 2018 05:20 AM
Rainmaker
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Bob "RealMan" Timm
Ward County Notary Services - Minot, ND
Owner of Ward Co. Notary Services, retired Realtor

There are always ghosts in the machine Karen Scheuerman , it keeps RE interesting.

Oct 08, 2018 05:02 PM
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Fred Griffin Tallahassee Real Estate
Fred Griffin Real Estate - Tallahassee, FL
Licensed Florida Real Estate Broker

      The companies that you mention buy debt (bad loans, defaulted credit card debt, etc.)  for pennies on the dollar.   They are notorious for violating and ignoring Federal laws.

      An attorney who specializes in credit repair may be able to help you.

Oct 08, 2018 04:42 PM
Rainmaker
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Gita Bantwal
RE/MAX Centre Realtors - Warwick, PA
REALTOR,ABR,CRS,SRES,GRI - Bucks County & Philadel

Good luck.

Oct 08, 2018 04:07 PM
Rainmaker
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Olga Simoncelli
Veritas Prime, LLC dba Veritas Prime Real Estate - New Fairfield, CT
CONSULTANT, Real Estate Services & Risk Management

Thank you for bringing this up Karen. I have learned from your question.

Oct 08, 2018 03:48 PM
Rainmaker
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Ron and Alexandra Seigel
Napa Consultants - Carpinteria, CA
Luxury Real Estate Branding, Marketing & Strategy

Thank you...

Oct 08, 2018 02:52 PM
Rainmaker
3,960,121
Dorie Dillard CRS GRI ABR
Coldwell Banker Realty ~ 512.750.6899 - Austin, TX
Serving Buyers & Sellers in NW Austin Real Estate

I haven't run into buyers having any of these issues of collections impacting their purchases. I'm sure someone will be able to help you.

Oct 08, 2018 02:44 PM