Pre Approval Process

[dpittsmd1985]

The cost of the house in FL is over the amount allowed by FHAI. It's considered to be a jumbo loan and I have been told by several MBs and LOs that it would have to be conventional. The cost would be in the low to mid 600s.

[dpittsmd1985]

DTI is 15% as of this month, we are planning on putting down 20% and yes, I have been trying for 7 months to have the liens removed but am being told that the liens will remain for 7 to10 yrs from the time paid.  I have even tried the IRS "Fresh Start" program.  Haven't heard from them one way or the other

[JM-AM]

I know I can decipher your original post but Im getting older by the minute and hard to keep up in a one paragraph reading post at times. Sorry

Can you list a complete break down of your credit profile line by line.

Something like this...

Revolving Credit

Cap One CL 1000, Balance 0, late 0

Amex CL 5000, Balance 0, late 0

Installment Loan

Car payment 0, original balance 30K, late 3 x's 30 paid off 6/1/2010

Student loans payment 0, original balance 25K, late 0, deferred

Collections

BoA CL 2000K, balance 1900, 4 years old

Judgements

0

Liens

Tax Lien Balance 2000K, paid 10/1/2012

With a little easier break down I am sure many will try and assist you on how to get your scores up.

[dpittsmd1985]

Revolving credit 

Capitol One.   CL. 3500.  CL. 1200. CL. 2500.  All 3 open...never late.  Bal 0 on all 3

Orchard Bank.  CL. 2000.  Bal. 0.   Never late

Dept Store card CL. 5000. Bal. 600.  Never late

First Premier.   CL. 400./. 450.   Bal. 0./0.   One 30 day on each in 2009.  They will not do a GW deletion ...written them on 5 occasions.

GE MoneyBank   CL. 5100.  Bal 0.  Never late but acct closed by creditor in 2009 when I was on medical leave. 

Chase.  CL 2997. Bal 200. Closed by creditr in 2009. One 30 day. They refuse a GW deletion.

installment Loans

Auto. Orig bal. 32,000. Bal 11,422 never late

Car installment. 26,000 orig bal.  30 day x 4 ( 2008/09). Paid off 2010

Carinstallment.   22,000 orig bal.  30 day x 3 (2008/09). Paid off 2009

Student Loan.  89k. No late

Tax Liens. Filed 2005.    Satisfied 2012

[dpittsmd1985]

Judgements.   None

[JM-AM]

Pay off the chase card in full.

Pay down the store card to about 200 or less.

That will give you a little boost.

Start from there and let us know when it updates.

[dpittsmd1985]

Store card to be paid in full by end April

Chase card to be paid in full by end April

Actively working on "Fresh Start" for IRS Lien removals - sent form out in Jan...still waiting to hear their decision.

Wrote the CEO of Chase and Chief of Credit dept for Merrick Bank to ask for GW deletion of 30 day mark

Keeping my fingers crossed

Thanks for the suggestions!!

[JM-AM]

Leave a small balance on one of the CC's. even if it is only $10. FICO likes to see a small balance on one card.

[dpittsmd1985]

Each month, I have about $40 in charges going to 2 or 3 of the cards and then pay them off the next cycle

[JM-AM]

You only want one card to report a small balance. Keep the others paid before statement hits.