My Mortgage Journal (formerly: Would I qualify for an FHA Mortgage in ME?)

[Anonymous]

I'm curious, what did you do to get your score to bump 40 points?

[Anonymous]

Update:

Experian is still dragging their feet on the BoA update, but Equifax and TransUnion are both in, and the news is good!!

Mortgage scores as of today are:

EQ:  669 (+34)

TU:  695 (+77)

EX:  616 (+/-0)

No matter what happens with Experian, my mid score is now firmly above my goal of 640!  Looks like it's time to call the LO.

[Anonymous]

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@Anonymous wrote:

I'm curious, what did you do to get your score to bump 40 points?

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My largest overall score increase as of today is 100 points (TransUnion 595 to 695), and I did it by:

1. Paying down my credit card to within 8% utilization.  It helped that I also received a credit line increase at roughly the same time.
2. Settling a lingering 3-year-old charge-off that was still actively being reported as a delinquent debt by the OC.  I owed $2,900, and was able to settle for $1,000.
3. Had a successful PFD on a small $150 utility debt that I was unaware of.  It was as simple as calling National Grid, explaining my situation, and offering payment in full for a deletion.  They agreed immediately, and the collection was removed from my account within 3 weeks.

[Lemmus]

...thats great news SunknLiner ...have you already got your realtor?

[Anonymous]

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@Lemmus wrote:

...thats great news SunknLiner ...have you already got your realtor?

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Yes, we have a fantastic realtor already lined up.

Further update, I called the LO and when he pulled my credit, the scores matched MyFICO exactly, AND Experian had updated to 664 (+48), although I didn't get an alert.  

WE'RE OFFICIALLY PREAPPROVED!!!

[Lemmus]

                           •º°”˜˜”°º••º°”˜˜”°º••º°”˜˜”°º••º°”˜˜”°º•GOOD NEWS•º°”˜˜”°º••º°”˜˜”°º••º°”˜˜”°º••º°”˜˜”°º•

[StartingOver10]

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@Anonymous wrote:

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@Anonymous wrote:

I'm curious, what did you do to get your score to bump 40 points?

---

My largest overall score increase as of today is 100 points (TransUnion 595 to 695), and I did it by:

1. Paying down my credit card to within 8% utilization.  It helped that I also received a credit line increase at roughly the same time.
2. Settling a lingering 3-year-old charge-off that was still actively being reported as a delinquent debt by the OC.  I owed $2,900, and was able to settle for $1,000.
3. Had a successful PFD on a small $150 utility debt that I was unaware of.  It was as simple as calling National Grid, explaining my situation, and offering payment in full for a deletion.  They agreed immediately, and the collection was removed from my account within 3 weeks.

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Congrats!  What a terrific increase you have had - using a variety of methods!  How long did it take you to get from the beginning to your current scores?

[Anonymous]

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@StartingOver10 wrote:

Congrats!  What a terrific increase you have had - using a variety of methods!  How long did it take you to get from the beginning to your current scores?

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My first communication with our LO was on April 9th; so from then until today.  He also teaches a night class in credit repair, so he was able to take a look at my initial pull and let me know everything I needed to do to get my scores within range.

[frugalQ]

CONGRATULATIONS!!!!!

[Anonymous]

OH MY GOD EVERYTHING IS HAPPENING SO FAST!!!

This weekend we went house shopping with our Realtor, and after visiting roughly ten houses we found "the one".  It's PERFECT in every way!  Only one problem - two other offers were made that same day, making ours the third on a very competitive house...

...THE SELLERS ACCEPTED OUR OFFER AND ARE CHIPPING IN $4K TOWARDS CLOSING!!!

Now comes the panicking...

• Will I get financing?
• Will I be able to afford closing?
• What if I fail?
• What if something goes wrong?
• Something WILL go wrong...will it be a killer?
• Am I going to break my wife's heart?
• ...and on, and on, and on...

I'm literally sick to my stomach!