I've been using this forum as a compass in helping me rebuild and GROW UP.
I pulled my Credit Report from Myfico.com today
Transunion 727
Equifax 716
I have three credit cards with a total balance of $1.5K and a credit line of $22k.
One Auto Loan with a Balance of $16K with a monthly payment of $507
I have had no late payments in over three or more years on any of my reporting accounts.
Now the bad news.
I have Santander reporting on my transunion account as a $0 balance "charged off as bad debt" should fall off in August 2013.
Tax lien that was paid off in 2007 but has been reporting on my Transunion / Equifax credit report and should fall off July 2013
Chapter 13 Bankruptcy that was filed in 2006 but was dismissed.
The bankruptcy is not being reported on my Experian and Transunion Credit Report.
Equifax it shows dismissed so it will not fall off until Feb 2015.
My experian credit report is virtually clean.. no reporting of Santander, Bankruptcy, or Tax Lien.
If I had to to guess the Experian credit score would be the highest with the Transunion score being the mid.
I want to purchase a new home and wanted to know if there is anything that I could do to clean up my credit report? I don't want to wait for the tax lien / santander reporting to drop off the credit reports. I'm wondering if the Mortgage Companies would take issues with this though.
A little bit more about me.
My income is over $250 K a year (self employed) and the business has been in existence about 1 yr 8 mo.
Before I started my own business I was in the same line of work for over 6 years.
I have about $50K to put down on a $350K - $450K home. Plus I own land worth $55K that can be used to help secure the loan.
My wife does not work and her credit score is >750
Do you think I would have any issues securing a Mortgage? How does a mortgage company view not have the same information across all three credit reports especially bankruptcy and tax lien? Will the mortgage companies force me to deal with Santander (not that I haven't tried in the past on numerous of occasions)
Thanks in advance
