Lv 4
embi40 asked in Business & FinanceCredit · 1 decade ago

collection agency/FHA loan?

My daughter has been trying to contact Lincoln Properties - prior owner of an apt complex in Woodridge IL she lived in years ago- to settle an account with them. If she doesn't do this- she doesn't qualify for an FHA loan. She has called, faxed, emailed them repeatedly with no success. All phone lines (even the non-customer service ones) state "all circuits busy." No replies to emails or faxes. What can she do? As long as it is documented she owes them money she will never get this loan.

Your assistance is appreciated. Thanks

7 Answers

  • Anonymous
    1 decade ago
    Best Answer

    Send a certified letter that needs to be signed for so you know they got it.

    Ask the underwriter who is working on the loan.In most cases secondary documentation can be used.The underwriter is the one who has the final say on the loan. Just be sure that there is nothing else holding you back on the loan. This is a Ridiculous time in banking, be sure everything else is up to par. Banks, Lenders and agencies change guidelines more often then there underwear lately.So be sure she still qualifies and the lender is not playing games or beating a dead horse.

    Also the title company that is doing the paperwork for the loan should be able to solve this.If the debt still is there they could set up to have it paid at the time of closing.Your loan officer needs to work a bit more for you right now, to help close this loan.

    Source(s): FHA Loan officer in NJ. 6years in the biz.
  • 1 decade ago

    Contact the credit reporting agencies and see if they know how to get a hold of the people. Then send certified letters to their office proving that you attempted to settle the debt.

    Finally ask the people she is trying to get the loan from what she should do. All they want to see probably is a payment plan set up.

  • 1 decade ago

    If they are not responding to any communication, then have your daughter send a dispute to all 3 credit bureas or which ever one(s) it is on and have her dispute the account as NOT MINE. They have 30 days to respond to the credit bureas and if they dont, it is automatically deleted and can not be put back on. Thats something I would try regardless, it wont hurt anything. And if they really are not around any longer then it only benefits her! Hope this helps alittle!

  • 1 decade ago

    I agree with Brett, have her file a WRITTEN dispute with the credit bureaus. If they won't respond to calls, faxes or emails it's unlikely they will respond to a dispute.

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  • Chrys
    Lv 7
    1 decade ago

    contact the city attorney of the city where the property is, they should know whats going on.

  • 1 decade ago

    When all else fails, overnight snail mail.

  • 1 decade ago

    Does she know that mommy plays on the computer

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