UPDATE: Mortgage Journey

[Anonymous]

Just needed some encouragement from you guys on my road to home ownership. 

We signed our purchase contract in February, and at the time of the application, my scores were 523EQ/547TU/564EX. 

I paid for the update on MyFICO yesterday, and my mortgage scores are now 571EX/574EQ/602TU. 

Here's what I've done so far in my repair: 

I have the following collections on my report: 

Comenity(TU/EX/EQ) - $751 Charge-off from Jan 2017 - settled for $469; account now reporting as paid and closed

BB&T(TU/EX/EQ) - $1,411 Charge off from 2011 - called and can settle for $705 - will settle this week

Fair Collections & Outsourcing(EX/TU/EQ) - $1,668 Collection from 2011 - settled for $166.80; account now reporting with $0 and open

National Credit Systems(EX) - $4,161 collection from 2011; reporting on Experian only and can get early exclusion on May 29, 2017

DeVry(EX) - $1,300 Defaulted loan - applied for consolidation and amount will absolve into this and be deleted from Experian - still waiting for processing to be done

Berks Credit (EX) - $545/$683/$724 - reporting on Experian only and can get early exclusion on July 29, 2017

Good Accounts:

Capital One - $500 secured platinum card since Apr 2016 - reporting balance of no more than $30 and this month will report at -$11.54 balance and April payment of $0

NFCU - $1,000 secured Visa since March 2017 - first statement due on April 4th 

Capital One - Authorized User on husbands account - he's had the card since June 2013 with $2,500 limit and current 18% utilization - only reporting on Experian

[Anonymous]

Thank you for posting.  I am in your corner and rooting for you.  Keep posting and updating as I will be following.  Good job so far....

[Anonymous]

UPDATE: Just paid the BB&T Charge-off and got them to do a PFD!! I was told that it should take 10-15 business days for it to update on the credit report. 

So now, I have the following collections left: 

1. National Credit Systems(EX) - $4,161 collection from 2011; reporting on Experian only and can get early exclusion on May 29, 2017 - I will not pay this

2. DeVry(EX) - $1,300 Defaulted loan - applied for consolidation and amount will absolve into this and be deleted from Experian - still waiting for processing to be done - UPDATE - Was told this has a 30 day processing time, which for me is April 3rd. Hoping to hear something by then. 

Berks Credit (EX) - $545/$683/$724 - reporting on Experian only and can get early exclusion on July 29, 2017 - I will not pay this. 

I talked with our lender today and they don't plan to pull credit again until mid-August with a scheduled August 31 closing date. 

*Seeing the light at the end of the tunnel!*

[Anonymous]

Good job!! Keep posting...