A while back I was approved for an fha loan. My middle score was 660.
Right now the loan is in underwriting.
What do you know… I get a notification from equifax that I have a new collection. Apparently I owe sprint $150 for a piece of equipment that should have been returned three years ago and they never contacted me. Shame on me for figuring the $400 early termination fee I paid covered that. Anyway, I still had the equipment in a closet and am sending it back for credit and removal from my credit file.
Here is the problem… I can’t get it removed in time before closing and if they pull my credit now, my scores might not meet the minimum requirement.
Questions:
How likely is it they will pull my credit again before closing?
If they do pull it, does this destroy my chances simply because my score falls below even though I can prove the score will increase once the credit bureaus remove the collection?