I co-signed for a condo with my son who always paid the mortgage late which negatively impacted my credit score. My son moved out of the condo and rented the condo to someone who has paid every payment on time and I have taken over sending in the mortgage payment. Therefore, my credit score has improved. My son now wants to sell off the condo for what's owed on the condo so he won't have to pay the association dues. I think selling off the condo while I'm trying to pull up my scores and purchase a home will hurt me more now than if we wait four months to sell it after I've closed on a home of my own. My fico scores are
Equifax 662 Experian 640 and Transunion 657
I do not have very many good accounts on my credit record and this is one of the four accounts that I now have that show on-time payments for 14 months. Will my credit score suffer if we sell off the condo before I get approved for a home mortgage or should I get my score up high enough to get approved for a home mortgage and then sell the condo?
