I finally understood why my mortgage applications kept getting denied

For two years, I kept trying to buy a house in Tampa but kept getting turned down. I thought my credit score of 620 was good enough. Then a loan officer told me last month, 'Your score is okay, but you have a $2,000 medical bill from 2021 in collections that's killing you.' I never knew a single old bill could have that much power. I paid it off and my score jumped 40 points in three weeks. Has anyone else had one specific thing hold them back like that?

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3 Comments

ward.anna5mo ago

Ever have a credit card you forgot about? I had a store card from years back with a $50 annual fee I didn't know about. They never sent a bill to my new place, so it went to collections. That tiny fee dropped my score like a rock. Took forever to find it on my report, paid it, and things finally moved.

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thomasgonzalez5mo ago

Ugh, same! @emma_rodriguez30 had the right idea.

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emma_rodriguez305mo ago

Yeah that "dropped my score like a rock" part is so real. I had something similar and just calling the collections agency to pay for delete got it off my report.

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