Got a call this morning from a former customer. He said he was applying for a mortgage elsewhere, and when they pulled his credit, it showed late payments from 2014 on his paid mortgage with us. He claimed that his loan was never late. (Don’t they always? ) Since the mortgage loan with us was paid off, I had to pull the file out of the basement and call him back.
From the file, I saw that we didn’t receive any payments between November 2013 and June 2014. In August 2014, the loan was paid off by the customer’s insurance. There were many collection letters in the file. Also a letter to the bank’s attorney to begin foreclosure and a comment that the customer didn’t return our calls until after the foreclosure notice went out.
While I was flipping through the file to figure out what happened, memory began to trickle back. The customer’s house had significant amounts of water damage at some point. I’m guessing November 2013. Also guessing that it was due to frozen/burst pipes. The customers filed a claim with their insurance. And then proceeded to argue with their insurance company for six months or more. Meanwhile, the city served them a blight notice and eventually (not sure if it was before or after the loan was paid off) tore down the house.
As I recall, he and his wife also tried to apply for a loan to purchase a new house, since this one was unlivable. While they were past due on this loan. And possibly while we were starting foreclosure. Naturally, we turned them down.
I called the customer back and told him the lapse in payments from November to June. I told him there were multiple collection letters in the file. And I told him that the bank had hired an attorney to begin foreclosure. So the information on his credit report is accurate. Then he changed his story. He said he “couldn’t remember if” he was ever late on the loan. At the end, he thanked me for my time.
It always seems to be the worst customers who dispute their credit history.
From the file, I saw that we didn’t receive any payments between November 2013 and June 2014. In August 2014, the loan was paid off by the customer’s insurance. There were many collection letters in the file. Also a letter to the bank’s attorney to begin foreclosure and a comment that the customer didn’t return our calls until after the foreclosure notice went out.
While I was flipping through the file to figure out what happened, memory began to trickle back. The customer’s house had significant amounts of water damage at some point. I’m guessing November 2013. Also guessing that it was due to frozen/burst pipes. The customers filed a claim with their insurance. And then proceeded to argue with their insurance company for six months or more. Meanwhile, the city served them a blight notice and eventually (not sure if it was before or after the loan was paid off) tore down the house.
As I recall, he and his wife also tried to apply for a loan to purchase a new house, since this one was unlivable. While they were past due on this loan. And possibly while we were starting foreclosure. Naturally, we turned them down.
I called the customer back and told him the lapse in payments from November to June. I told him there were multiple collection letters in the file. And I told him that the bank had hired an attorney to begin foreclosure. So the information on his credit report is accurate. Then he changed his story. He said he “couldn’t remember if” he was ever late on the loan. At the end, he thanked me for my time.
It always seems to be the worst customers who dispute their credit history.
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