Today I joined a First Time Home Buyers Club. I will deposit money every month for a year, and when I have saved up $1750 they will pitch in $7500. My meeting today was with the non- profit that sponsers the Club. In a few days I will meet with the LO at the bank that will hold the account. I will also get my mortgage from them The LO is going to pull my credit when I come in to see her and make my first deposit. I have 3 derogatories on my report, two medicals and one non medical. I am pretty sure I can get a PFD on the two medical collections. Can I mention this to the LO? Or do they frown on this kind of credit repair? My biggest problem is utilization but overall my credit cards only total around $1200 so I will have them paid down when it's time to get the mortgage, leaving only the 3 baddies to deal with.
Anybody ever discuss PFD with their LO?
Starting Score: 597