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We closed WITH Charge offs! It can be done!

Frequent Contributor

Re: We closed WITH Charge offs! It can be done!

Hi There,


Congratulations! I am very happy for you.

 

I am in a similar situation..long story short, I settled about $80K in bad debt, including two paid repossessions. I have a dismissed BK which is 1 year old on Saturday. I have spent countless hours reading and working on my credit for the past six months. I have, 706, 641, and 594. With the 641, I am scheduled to close a new construction build by 12/28 with Academy Mortgage. My loan officer has been terrific...I am hoping I can close before Christmas.

 

I will keep you all posted. SCMAMI, again, congratulations!

Message 11 of 49
Regular Contributor

Re: We closed WITH Charge offs! It can be done!

Congratulations!!! This is very inspiring......my husband and I going through this process now and just had to switch lenders because our first broker had no clue what he was doing.  Now we are working with someone who took a look at our not so great credit situation and decided to push to get the deal done.  We have a few paid charge offs and one paid judgement fron 08.  My husband does have an unpaid chargeoff for $4k (for his exwife's car that she never paid off after the divorce).  Our broker said that it may be an issue but he submitted his divorce decree and we are hoping that he doesn't have to pay it.   We are hoping things will get done and quickly because we are already under contract.

Starting Scores:TU/513 EQ/484 EXP/513 3/2012 (lender pull)
Current Scores:TU/681 EQ/637 EXP/613 11/2012 (lender pull)
Goal:700 across the board
Message 12 of 49
Regular Contributor

Re: We closed WITH Charge offs! It can be done!

Thanks phumanr! I have read your story! I'm so happy all is ending well for you too! I didn't enjoy my loan officer AT ALL, but overall Academy seems to have very flexible approval guidelines, which I'm grateful for!
Current FICOs (Sept 2015) EQ: 666 TU: 663
Message 13 of 49
Highlighted
Regular Contributor

Re: We closed WITH Charge offs! It can be done!

@vabound I hope all goes well for you! The waiting is the absolute WORST.
Current FICOs (Sept 2015) EQ: 666 TU: 663
Message 14 of 49
Moderator Emeritus

Re: We closed WITH Charge offs! It can be done!

Congrats on closing!!

Starting Score: 08/29/2011 TU 671 EQ 674
Current Score: TU 754 EQ 694 EX 697
Wallet: NFCU Visa Sig 25k, Amex Lowes 22k, NavCheck 15k, Amex PRG, Amex Zync, Discover It 13.5k, Amazon Visa 5k
Platinum Spade Garden Club Member: App Free since 1/1/13. No more apps til who knows when?
MyFICO Fitness Goal: 800s Club!



Take the myFICO Fitness Challenge
Message 15 of 49
Frequent Contributor

Re: We closed WITH Charge offs! It can be done!

All smiles, Congratulation and welcome to homeownership.

Fico September 2012; TU 681, EX 674, EQ 652
Fako October 2012: TU 706, EX 641,
Message 16 of 49
Frequent Contributor

Re: We closed WITH Charge offs! It can be done!

Sending congratulations your way.  That's great.  I can only imagine how you're going to feel spending your first Christmas in your new home.  I hope to be closing in January.  Thanks so much for sharing your story!

Message 17 of 49
Contributor

Re: We closed WITH Charge offs! It can be done!

Thank You for sharing! It feels good to read your post and know there's hope. Sometimes I feel we're the only ones in this situation- but it's inspiring to read the success stories. I to have lost sleep over this house process. I pray every night things work out for my family and I.
Congratulations to you! So exciting starting the new year in a new homeSmiley Happy
Message 18 of 49
New Contributor

Re: We closed WITH Charge offs! It can be done!

Congratulations - enjoy your new home!

Message 19 of 49
Established Contributor

Re: We closed WITH Charge offs! It can be done!

Thanks for posting!
It's nice to hear some good news!
CS 728- 01/13 from 554-12/11
Goal: 800
Message 20 of 49