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Know the Exact Guidelines for Disputed Accounts and Your Mortgage.
In the past I have written how Disputing your Credit Accounts can get your mortgage denied.  Since that time the lenders and government have come out with specific rules on Disputed accounts.  You still do not want to dispute your accounts.  The reason why disputed accounts is a problem, is because when you dispute an account it takes it out of you credit score.  So you could dispute a bunch of bad accounts and your credit score would increase.  But mortgage underwriters know this is a just a form of "cheating" to get a higher credit score.  And this is why you will not want to dispute your credit accounts, because your loan could get denied because of the disputes.  Below is the information you need to know on disputed accounts and based on which loan you are trying to get:
Conventional Loans- You can not have a disputed accounts.  In Theory you can have one disputed account if you get a LP approval, but see below.
FHA, VA, USDA and LP-   1.  If the disputed account has a $0 balance that is okay and the dispute does not need to be removed.  2. If the account is 2yrs old or ... more

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