@Anonymous wrote:
Hi there:
No, the LO said we are good in the loan. Just waiting for short sale bank to respond. She said I will need another credit pull before close if we don't close in 30 days. I only have like a five point leeway so I'm nervous when I'm paying down CCs and score drops. Yikes! Lol
I'm not certain why you lost some points, but it was not from paying down CC's. It has been widely established that paying down CC's to less than 10% util improves scores. It's also one the fastest ways to improve FICO scores. Having multiple CC's reporting any balance can lower your FICO scores. If you can get your util below 10% and have it all on one CC, I would do that. If you're concerned about your 30 day window, see if your LO can do a "rapid rescore" for you. That way you don't have to sit around on your own waiting for your lower CC balances to report on their own.
