Home Buying in 84107>Question Details

Marci Ontive…, Home Buyer in 84107

Closing on June 15th, and now theres a new collections. I paid it and they said it wont appear on my credit, but I am super nervous it will! Advice?

Asked by Marci Ontiveros, 84107 Sat Jun 2, 2012

I am currently in the works of closing on a home. I obtained pre-approval through the underwriters, went into contract on a great home, and am now waiting for the final stages. We have already done the inspection, and the seller has also already fixed all of the big ticket items from it. Now we are set to have the appraisal done this Monday. As soon as that gets back (should be about 4 days, so friday) we can submit the whole thing for the "final sign off". The mortgage company I am using only takes about 24 hrs to do that as they do all of the leg work before even issuing a preapproval letter (income verification, credit check, pay stubs, bank statements, etc). The only thing I am worried about is a new collections account that I have paid. They said that it would not appear on my credit as long as I paid it within 60 days (that was on May 10th). I paid it all on May 27th. The closing date is June 15th. It was not on my credit as of May 15th. What are the chances it will appear? Thx!

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