Hello all,
First I would like to say thank you to all of you...I have been reading and applying what I have learned on this site for the past 7 months and have gone from having 3 subprime cards with a max of $4k in
credit to approx 10 cards ( more than enough) & over $75k in credit ( include $28k auto loan, $20k cons. loan, $20k cc & $6k loc. (4 most of the new credit has been with NFCU). scores went from 540 mid to 630 mid.
Here is the issue, back in late 2005 early 2006, I had approx 12 -30 day rolling lates on my mortgage. I also had 5 cards charge off (all have been PIF). Prior to that I had good solid credit. (I made the mistake of working for a major financially troubled airline that imposed across the board salary cuts.
I have since changed employers and have been current on all cc's for over two years, and current on the mortgage for 21 months. However, I am having a hard time refinancing my first and second mortgage 7% & 18% respectiviely. The monthly payment is $1890, which is manageable but just a waste. The combined bal are $165k, home worth approx $175k, want to do FHA refinance but keep hearing no!!!!.. ( income $86k, ratios about 43%)
Any suggestions on how I can make this happen ..Shane??
