In the beginning of July I applied of an FHA loan. My credit score was only 550 at the time and my credit report looked terrible-I didn't check any of this when I applied-or even know about this website. So, when I went to talk to the lender, she said I should go to concumer credit counseling and then my score had to be at least 580 for them to look at the application without any lates for 12 months.
So I go to credit counseling and they made me contact all the CA and OC's on my report to get the exact amounts that need to paid. -I thought this is what they do...so I did this and was able to settle with some and make payment plans with a couple at the time.
Today, I decided not partake in credit counseling (I was doing all the work myself and found out I could pay off my debts faster if I did it myself) and I'm paying off my collections month by month and trying to work with only 2 new trade lines I could get: Rewards 660 and Crown Jewlers. But now I'm getting ready to resend my application for a loan, and woke up all the "sleeping giants" on my credit report.
What do I do? What is the lender going to say? Should I even apply?
