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Pay for delete letters

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debranewell2008

Joined: 10 Oct 2009
debranewell2008's page
Posts: 605

89 Magic Points

Subject: Pay for delete letters

Mon Oct 12, 2009 7:33 pm

I have a second mortgage that i got behind on and they have agreed to take a lesser pay off will a pay for delete letter work for this.

goodnatured

Joined: 03 Nov 2007
goodnatured's page
Posts: 4005

1187 Magic Points

Tue Oct 13, 2009 1:33 am

Depends on where you are in the process, if you have not set up an agreement yet, you may be able to make it part of the agreement. All you can do it try.

debranewell2008

Joined: 10 Oct 2009
debranewell2008's page
Posts: 605

89 Magic Points

Tue Oct 13, 2009 3:30 am

I ask him today he said it was against the law for him to remove it all he could do is report that it was satisfied. I know my dept ratio will drop with it gone but since I was late I wondering will it raise my score any.

Justin

Justin

Joined: 17 Jul 2006
Justin's page
Posts: 1298

28935 Magic Points

Tue Oct 13, 2009 6:27 am

Hi debranewell,

Accepting a pay for delete offer entirely depends on the lenders. You cannot force the lender to accept it. You can only request him. Try once again to negotiate with your lender. Anyways, if your lender reports "satisfied", then I think it will affect your credit report and score positively.
_________________
All the Best Smile

Justin

debranewell2008

Joined: 10 Oct 2009
debranewell2008's page
Posts: 605

89 Magic Points

Tue Oct 13, 2009 9:29 am

Thanks I really don't want to push the issue not that I wish he wouldn't change his mind. I am just greatful he is taking less than half pay off. I believe you are right with that huge amount off of my dept to ratio it should go up a little anyway.

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