College Roommate/Idiot is Still Ruining My Credit, Shooting for 750/Mortgage

[Anonymous]

Argh, why couldn't you get your own **bleep** Video Store Account? You lousy roomate you.

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I am mortgage hunting and I would like to achieve a 750 score by Sept 2008:

EX: 689(old score) TU:728 EQ:707
- History of 9 years / ~$500 revolving on about $18K total line
- No late payments except for what is mentioned below from College
- $12k remaining on a 36mo auto lease started in June 2007 ($438mo, 35% will be paid by June 2008) [CW being that I want a new car every 3 years and I know how to make good deals, but I digress...]
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Here are the 2 situations hurting me:

- My roommate rented a video under my name and never returned it. Now I have a charge-off on Experian for $108. (Nothing from Video Store visible on the TU/EQ)
Date assigned Jun 01, 2003
Date reported Jan 01, 2006
Date last active Mar 01, 2001

- Wireless Phone Charge-off from 2001. (This was kinda my fault, I shared a cell phone with a friend and we went over one month and could not afford the $400 payment. Not understanding CRs and FICO at the time, I ignored it. Settled it in 2003 with the CA.)

Date opened May, 2001
Date of last activity Mar, 2005 WTF?!?!
Date of last payment Apr, 2003 This is when I paid the CA!!
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Advice / Questions for the AWESOME Community here:

1. Should I get my mother to add me as a AU on her CC's to gain history?
2. Would I benefit from opening a Macy's or other Dept Store card?
3. When will my Car Lease stop hurting and start helping?

And the sixty-four thousand dollar questions:
4. Will a GW work for the legit Wireless Charge-Off that I cannot PFD?
5. Should I attempt to PFD the Video Store or will that reset the clock?

BONUS QUESTION:
My DW and I qualify for Navy Federal Credit Union, why would I NOT take the 100% mortgage loan with no PMI and invest my 10-20% down payment? I cannot think of a reason...


Any other tips would be greatly appreciated!!! Thanks and let me know if you need more info.

[Anonymous]

Initial bump.

[Anonymous]

Why are you worried about your scores? All you really need is a 680 mid score which you far exceed already to qualify for any real mortgage out there. I just got approved with worse scores than you.....my low was 667 and mid was 707.

As far as your debts, they should both fall off shortly anyway. Simply disputing them may have them fall off anyway.

[Anonymous]

I agree with Bam......drop date is DOFD with TU and EX only EQ uses DOLA......these should drop by the end of next month.

On the one that you paid in 2003.......doesn't matter when it was paid   still goes by DOFD not when paid!

You could dispute with CRAs as  obselete   they might just delete now.

[Dawn]

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Mojoryezen wrote:
Argh, why couldn't you get your own **bleep** Video Store Account? You lousy roomate you.

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I am sorry to hear of your problems ... but I am SO glad you posted.  Just this afternoon, my son got a call from Hollywood Video stating that a DVD case had been turned in without the DVD inside.  All he said was, "OK."  Then, when he got off the phone, he said that he had never rented that movie.

He tends to put things off, but I told him he needed to clear it up with them right away.  If he didn't rent it, he needed to convince them of that and ask them to flag his account so no one else could use it ... must require ID.

Then, he remembered that one of two people he was with a few days ago may have rented it (using his card????)  So ... now he has to track it down or get in there and pay for it before the late fees add up to something ridiculous before they cap it and before they end up turning it over to collections if he never gets it cleared up.

He won't listen to me ... so maybe he will listen to you. I printed your post out and will put it on his pillow. 

[Anonymous]

Thanks for the advice. I am just trying to optimize my APR. Home-buying is such a huge investment and a mere 25 basis points can mean tens of thousands over 30 years.

@ Denbar, Make sure your son clears the issue with Hollywood Video, they are jack-booted, facist thugs. Message to your son: Pay the fine, put it on a Credit card if you have to.

It is basically extortion, but you have to pay now or they will report you and create more of a hassle than the ~$30 it would take to end it now. Thanks Again Everyone!!!

Message Edited by Mojoryezen on 02-03-2008 10:38 AM

[Anonymous]

I can understand you want the best APR but after talking to quite a few lenders and brokers, anything over 680 mid score doesn't matter. You have a high enough score to get a 100% loan like I did if you want to.

[fishbjc]

Dern Roomie, have you tracked him down?

[Dawn]

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Mojoryezen wrote:@ Denbar, Make sure your son clears the issue with Hollywood Video, they are jack-booted, facist thugs. Message to your son: Pay the fine, put it on a Credit card if you have to.

It is basically extortion, but you have to pay now or they will report you and create more of a hassle than the ~$30 it would take to end it now.

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Gee ... the timing couldn't be better.  DD's BF just got a "statement" from Blockbuster today for $70.00 that they are saying he has been notified either by phone or mail regarding.  Says it is now two weeks past due and to pay up!  I hope he pays attention.