Using “Rapid Recheck” to Correct Inaccuracies in Credit Reports

Using “Rapid Recheck” to Correct Inaccuracies in Credit Reports An inaccurate negative report on one’s credit report can slow down the process of getting a mortgage. The challenge is to get the credit bureaus to correct the report in a timely manner paving the way to obtaining a mortgage. CoreLogic Credco is a leading reseller of three-in-one or “trimerge” credit reports tailored for the mortgage industry. Credco has a service called Rapid Recheck that speeds up the bureau-level dispute process. Credco promises the process provides a faster way to update a borrower’s credit reports and get an updated FICO score....

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Countrywide Says it Will Help 80,000 Consumers Keep Their Homes

Millions of consumers are facing foreclosure due to risky adjustable-rate mortgages. Countrywide, one of the nation’s largest mortgage lenders, has gotten a ton of bad press lately for its high-profile role in the crisis. Yesterday Chris Arnold reported in a story on National Public Radio that Countrywide planned to refinance or modify some $16 billion worth of loans for more than 80,000 borrowers who will soon hit an unaffordable rate reset, or those who have already fallen behind after their payments rose. Some of those borrowers’ interest rates had risen to as high as 13%. It was good news for...

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