Case #1 - Credit score 8 months ago were all above 780. Since then, a $75 parking tickets was sent to collection and credit score drops to 690. The difference in costs to obtain the same interest rate - $6000.
Client does not believe he or his car were in the area where the ticket was issued yet there is little for him to do to have this item removed or the impact reduced.
Case #2 - Client prepares his own tax return. He overstated his income by approx $18 and paid tax on that amount. When the lender verified his return and compared it to the W-2's, this error was identified and the lender was not going to close the loan until the IRS received and posted the ammended 1040.
Case #3 - I will leave that up to you to add more examples. Have a great day!
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