hello there tamika65,

how was your mortgage renewal? was it granted or not? i hope that your application for a mortgage renewal had a positive outcome.

if ever you have other problems and need some advice then feel free post them. surely, friendly and supportive bloggers in this website will lend a helping hand and will attend to you.

you can also try to check other threads in this site which may help you in some way or will make you become interested to join in.

hope you can visit the website every now and then. thank you tamika65.

Talk to your mortgage agent for a 100% certain answer, I am sure it varies from lender to lender

We deal with the mortgage community a lot; in our experience, most mortgage companies don’t care as long as your mortgage and property taxes are up to date.

If you want to settle your debts fast, offer them 50% and they will accept. I would never give a collection agency 80% on a bad debt. If it weren't for your mortgage renewal; I would offer them less then 50%.

You won't get a denial on your mortgage renewal, they will just charge you out the a** in interest.

You can't remove the debts from your bureau, you can have them changed to paid or settled but it won't be removed.

It's easier to figure out a settlement when you state how much you owe, the generally accepted amount is 80% of the debt. And DO NOT tell anyone that you want to settle because of a home remortgage.

Maybe contact a mortgage broker to shop for different bank rates for the mortgage, you could add the debt owed into the renewal if you have equity.

I am so confused and not sure which way to turn. I coming up to a mortgage renewal and fear my credit report may cause for denial. I recently did a check and found two accounts in collection agencies and one that has been charged off. I truly do want to address these. What is the best way and does anyone have any sample letters that have worked for them. I am hoping to work something out that would have them agree to full payments with the condition of accepting these payment as final and full payments. Also to have the account removed from credit bureau.
I have one with Capital one - charged off
My other two - one with IQOR and another with Recover Corp.
Recover Corp has had my file since July 07 and no contact
IQOR since May and no contact.
How do I deal with these in my best interest?
Any words of wisdom would be appreciated