logo

Debtconsolidationcare.com - the USA consumer forum

Forums
  • Latest topic

New Teletrack FICO score?

Date: Fri, 07/27/2012 - 08:15

Submitted by erinschomaeker
on Fri, 07/27/2012 - 08:15

Posts: 31 Credits: [Donate]

Total Replies: 2


Has anyone read about the new CoreScore that Teletrack is included with? When you go to get a mortgage they will factor in your teletrack record and how many inquiries you've had for payday loans and how many you've had in general. It'll also include rental history, utility bill history and collections that may not be showing on your 3 major credit reports. If people are getting declined for merely INQUIRING about a payday loan, I don't know how I'm EVER going to get a mortgage now. Now I'm reconsidering defaulting on any of these for fear that it will have a very bad consequence.

My only hope is in about 2 years when we are serious about buying we find a lender who doesn't use this information. Its getting more and more difficult to do anything.


After having payday loans like crazy in 2010 we qualified for a mortgage in January 2012. Nobody mentioned anything about teletrack Our credit score wasn't great like 620 but we had good income. We also didn't have any lates for the previous 12 months. That was their stipulation. I think if your income ratios fall in the guidelines and you have no lates then there's hope. I would pick a mortgage company and just talk frankly about the dilemma you have. I did so much research finding this lender. Oh and also bk has to be discharged two years ago. With interest so low and house prices so low we could not be renting cheaper than our new house payment. Research like crazy. Ask lots of questions. Good luck


lrhall41

Submitted by on Fri, 07/27/2012 - 09:43

( Posts: | Credits: )