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Credit disputes during mortgage process
Having your credit repaired is great and highly recommended, however, disputing a non-medical collection during the mortgage approval process can be detrimental and possibly disqualify your for a mortgage loan. If you have a credit dispute against a derogatory item with a credit balance of $1,000 or higher, the mortgage approval process cannot continue due to Fannie Mae mortgage lending guidelines. You cannot have a dispute on a non medical collection account with a balance of $1,000 or greater. You need to retract the dispute before the mortgage approval process can proceed. Unfortunately, retracting a credit dispute will drop your credit scores. Charge offs or derogatory items with zero balance does not apply. Medical collection accounts with balances are exempt from this rule. Here is an article on disputing derogatory credit items during the mortgage approval process.


Here is another popular article that I have wrote and published on http://www.gustancho.com on credit disputes and the mortgage approval process:



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