Frisco Texas Mortgage, Real Estate, Events, and more

It Still Amazes Me...

It Still Amazes Me... how people are just not in touch with their credit scores.

- Perhaps they don't quite understand how the score is calculated... thats okay

- Perhaps they don't know the range of scores.. thats okay

- Perhaps they can't remember when the Bankruptcy was filed exactly, but have an idea... thats okay

What I am more surprised with is when you speak with someone and you are very clear to ask them "have you had any foreclosures over the past 7 years or filed bankruptcy within that time". They say no. Great! Then you go on to ask "have you had any collection accounts, charge offs, and reposessions within the past few years". Again, you get either 'no' or 'well I have, but it was over 6 years ago'. We might be able to work with that a bit.

And of course the last question is "have you been making your payments on time or do you have any history of late payments". Rencently I asked this question and the answer was no.  Guess what I found?

After asking these questions and a few others, I get an idea of where the client may be credit wise (keep in mind, I said 'and a few others'). Well, according to a recently potential client... they had a pretty clean record. But when I pulled their credit scores... the HIGHEST score was 600.

When asking these questions I was very clear as to what each term meant... collections, foreclosures, repossession. But still they acted as though their score MUST be above 760. This clients report had Collections as recent as June and July. So, either you are WAY out of the loop, you didnt understand the questions, OR you figured I would just not see them... This is what I do for a living. I'm must more willing to jump through hoops for you if you are upfront with me. Chances are very good that you have received phone calls and/or letters regarding these accounts. Tell me about them so that we are on the same page and can address these issues right away.

It Still Amazes Me... 



Are you looking to purchase a Texas home?  Perhaps you love your Texas home but would be interested in refinancing your Texas mortgage to a lower interest rate?  

I'll help you get pre-approved for your Texas home loan and even suggest some very knowledgeable and professional Real Estate Agents in your area of choice.  If you are available to talk, I am available to listen.  Give me a call or visit my website for more details.

Do you want to know all of your mortgage options? Call me today and let's discuss them further.

Texas Home Loan Consultant

Always available for your Texas Mortgage and Home Loan needs!

John R Cannata    P#214.728.0449

NMLS # 322646

Texas Home Loan Expert

Frisco TX Mortgage



The views expressed on this site are mine alone and do not reflect the views of my employer.

Comment balloon 15 commentsJohn Cannata • August 01 2012 09:10AM


It's even more amazing when they tell the loan officer one thing and the agent another thing and we have to compare notes and it's like, "Seriously? Are you kidding?!!"

Posted by Donna Harris, Realtor,Mediator,Ombudsman,Property Tax Arbitrator (Donna Homes, powered by JPAR - almost 8 years ago

It is usually the clients who spend, spend and don't manage their budgets (just like the USA goverment).

Posted by Edward & Celia Maddox, EXPERIENCE & INTEGRITY - WE TAKE THE HIGH ROAD (The Celtic Connection Realty) almost 8 years ago

Donna - So right. As though we wont be talking about the status of your loan.

Edward and Celia - True. They have a hard time managing.. but fill me in a little so that Im not carrying on like it sounds pretty smooth... then I find that you are a MESS. Doesnt mean it cant happen, but it does mean it cant happen just yet.

Posted by John Cannata, Texas Home Mortgage - Purchase or Refinance (214-728-0449 almost 8 years ago

and it is free once a year as well from the 3 agencies too, how easy is that!

Posted by Mark Loewenberg, KW 561-214-0370 (KW of the Palm Beaches) almost 8 years ago

I think a lot of people get shamed by their bad credit then lie about it thinking nobody will notice. 

Posted by Bryan Robertson almost 8 years ago

Mark - Not enough people take advantage of the free report. Its so important, especially if you had credit issues in the past. But even if you didn't, you should make sure you didnt have fraud issues at any time.

Bryan - Its like when a dog does 'his business' in the corner of the room. He/she never wants to look in the corner because they know what is there and they hope no one else will notice. Its a shame. It would be much easier to just address it, lets work on a soluction, and lets move on.

Posted by John Cannata, Texas Home Mortgage - Purchase or Refinance (214-728-0449 almost 8 years ago

So many "It amazes me" situations that always seem to happen.  It's very good advice to stay on top of what can possibly happen during a transaction.

Posted by Eileen Hsu, LICENSED REAL ESTATE SALESPERSON (Douglas Elliman Real Estate) almost 8 years ago

Eileen - So true that there are many moments that make you go ... hmmmm..  :-)

Posted by John Cannata, Texas Home Mortgage - Purchase or Refinance (214-728-0449 almost 8 years ago

Things that make you go ... hmmmmm!  I think the answer lies in a little bit of everything you touch upon, John.  Some truly don't understand it all.  Others seem totally oblivious.  And still others ...  wow.  I always wonder what news or conversations they are having that they are so unaware.  I totally agree with you ... it makes you go, huh??   Hang in there ...


Posted by Gene Mundt, IL/WI Mortgage Originator - FHA/VA/Conv/Jumbo/Portfolio/Refi, 708.921.6331 - 40+ yrs experience (NMLS #216987, IL Lic. 031.0006220, WI Licensed. APMC NMLS #175656) almost 8 years ago

You and I both know abou those 'huh' moments. Thanks Gene.

Posted by John Cannata, Texas Home Mortgage - Purchase or Refinance (214-728-0449 almost 8 years ago

Credit reports are like lie detectors - the truth will be revealed; most of the time.

Posted by Teral McDowell (Referral Patners LLC) almost 8 years ago

HA. So true Teral!

Posted by John Cannata, Texas Home Mortgage - Purchase or Refinance (214-728-0449 almost 8 years ago

Very good reminder to everyone how important a good credit score is and that we should keep track of it. Excellent advice to everyone, especially those considering buying a home!


Posted by Mel Ahrens, MBA, Kelly Right Real Estate, Customized Choices for your Real Estate Needs (Kelly Right Real Estate) almost 8 years ago

Thanks for the comment Gretchen!

Posted by John Cannata, Texas Home Mortgage - Purchase or Refinance (214-728-0449 almost 8 years ago

John - And this is EXACTLY why buyers need to get pre-approved prior to looking at homes especially if they "think" their credit is good enough to obtain financing.

Posted by Michelle Gibson, REALTOR (Hansen Real Estate Group Inc. ) almost 8 years ago