New here!!

[Catacam]

Hi there! I am new to this whole mortgage and credit repair situation and I am going to give a breakdown of my story (as quickly as possible)

Husband and I want to buy a home. I make a great income but have old negative collections in the form of medical bills. Loan officer for the lending company pulled my report and I was at a 595 with TU which was the mid grade score for me, 614 and 560 for the other two.  She asked me to be added to my husbands cards (5 of them) as an authorized user to boost my score to 620 which is the minimum for the FHA loan. My score actually dropped down to 567 after being added however two of his accounts that I was added to were at about 90% utilization.

She contacted a credit repair person she uses often and she said to remove me from those two accounts to boost my score and pay down the other accounts to less than 10% utilization and to remove an old authorized user amercian express account that was report in error on my report and that should boost me to 620.

As of today I have been pulled off his two accounts, paid down 5 to under 10%, three of them my accounts and two of them his (but I am authorized on) and disputed the american express (old company paid the past due, just waiting on a letter of non-liability from american express to forward to credit agencies).

All of the billing cycles end between now and the 19th, so we are going to pull again on the 21st!! Fingers crossed it is all going to come back fine!

I will say that as soon as the house closes (supposed to be April 27th as it is new construction), I am going to clean the heck out of my report! My new addiction for sure!!

I look forward to getting to know all of you!

[Booner72]

Hello and congrats on your journey.

I would advise you to pay all of your CC's to ZERO except have ONE report a small balance between 1-9% of it's limit.  This is preached over and over and over here as the way to get the most bang out of your FICO points in the fastest period of time.  Having all of those report a balance is not so good, as FICO calculates not only overall utility, but each account's utility, AND how many accounts are reporting a balance.

Good Luck!!

[Catacam]

Thank you so much for the welcome and information. I thought as long as they are all under 10% we were good. I will get these knocked down all the way today!!

[Annaliese]

Hi, welcome here too. Actually, I have been a lurker for awhile but decided to chime in and finally registered. Glad to see that I am not the only newbie here

Have a nice weekend!

[MBOhio2]

Welcome!

Yep, pay all to $0 except one. I am also scrambling to get my score to 620 for an FHA mortgage and that's what I'm doing in hopes of getting the biggest score increase possible. Good luck to you!

[Catacam]

Thanks Everyone!! This journey is crazy for sure. I am getting nothing accomplished in my work life because I am obsessing over these dang scores!!

Here is my little update for the day...

Payed off all acounts but one to zero balance (5 accounts)

My Fico alerted me this morning that my EQ score jumped 5 points to 531 (I have no idea why because billing cycles for me on all the cards run from the 12th-20th)

Decided to get the trial transunion score from trans and it showed a 599 vs myfico which says 589

Then pulled Fako EX and it showed a 521??? My LO pulled a 614 from EX, and I know its fake, but come on.

But I'm more confused...! I don't get this game...

I guess the good thing is that none of the 5 cards are showing the change in utilization so more increases to come!

Fingers crossed to all of trying to hit the 620!!!!