Think I may have messed up!!

MortgageSearcher

Hi all,
I think I may have just made a big mistake! I have been accepted for a mortgage and all has gone through, just waiting for searches etc.. I have just now paid off a credit card off with some spare money I had... This credit card hasn't been used for over a year and every month I got a statement saying that the minimum payment this month is "the full balance" On my credit profile this account is in order... no missed payments for over a year but missed payments before this.
When I just asked them to close the credit card the girl said the "it was already closed and that the account had been revoked" now then... because I have paid it off now does this mean I am going to have a defualt placed on my profile? If this is the case I need to cancel that payment ASAP! HELP!?

steveM1978

Call me old fashioned but a debt is a debt and in my eyes you should pay it regardless, give them a call ask to speak to a team supervisor explain the situation and see at what process your application is at. i have had a similar dealing but mine was with a mobile phone company. after a good 30 min call i negotiated a fee which i paid and then the account was closed. get all names of everyone you speak to, start a little diary.

Cannon_Fodder

Whatever has happened, has already happened. Fiddling with it further will only confuse the credit history. Risks doubly-spooking the lender.

If your mortgage was approved with missed CC payments from the previous year, they can't have viewed it too seriously. One can only hope paying it off would be seen as a positive - although sometimes just drawing attention to something is enough to spook lenders.

First rule of getting a mortgage - tidy your credit history well in advance, and don't make any unnecessary applications/alterations to your normal payment patterns during the application, up until and including completion of purchase.

Maybe I'll put that as my new signature, as so many people make this mistake.

MortgageSearcher

Hi Steve,
No I agree 100% a debt is a debt and you should pay it.. I just mean should I have left it until after my mortgage has gone through before paying it off... I don't have any defaults on my profile just missed payment marks. I meant will I now have a defualt notice put on my profile because I have fully paid off the debt? The account is closed so that isnt an issue... I am just now worried that a default may now appear on my profile and the mortgage funds won't be released after the final checks.... see what I mean?

MortgageSearcher

Cannon_Fodder wrote: »

Whatever has happened, has already happened. Fiddling with it further will only confuse the credit history. Risks doubly-spooking the lender.

If your mortgage was approved with missed CC payments from the previous year, they can't have viewed it too seriously. One can only hope paying it off would be seen as a positive - although sometimes just drawing attention to something is enough to spook lenders.

First rule of getting a mortgage - tidy your credit history well in advance, and don't make any unnecessary applications/alterations to your normal payment patterns during the application, up until and including completion of purchase.

Maybe I'll put that as my new signature, as so many people make this mistake.

Quality advive! I thought I was doing the right thing by paying off the CC debt... (I told the lender that it would be paid before mortgage completion, so they know about it) Just had a really bad thought that a default only shows after youve paid the debt off!! Do you know if it does?