Good luck to you Mortgage. Hang in there man, this whole credit improving process…is for sure a Process!
Speaking of mortgages. As I’ve stated in this thread, I’m currently in the market for a new home. Officially signed a contract on a new construction build a few weeks back. Put down $500 for the lot hold. Then we had our showroom appointment just a few days ago and I put down another $1500 in earnest $$$. So I’m stoked to be able to get this process started, signed a ton of documents here recently including the contract and respa forms. I’m hoping construction is able to start at the end of March with a closing in early July. I’ve been a little impatient when it came to finding a home but damn near a year later, after signing all of those above documents…my patience is actually back now that I know that one of my dreams is coming to reality.
My lender re-pulled my score this past Monday and I’m now at 609 EX | 640 TU | 643 EQ. Which is freakin’ awesome considering where I started at December of ’13 with scores as follows…599 EX |599 TU | 615 EQ. The derogs of IQ Data & Enhanced Recovery are no longer showing on any of my credit reports, completely deleted; again…another great thing. I still have a ton of work to do to get to my 1st goal of having 700 scores all across the board. What is still showing on my CR that are baddies are as follows…
Brown & Joseph at $118 - Safeco, when I called a little over a month ago, stated that they don’t delete items off of your CR so I still have to reach back out to these guys to see if they will in fact delete it off of my report and I would be more than willing to pay the charge. I wonder if this baddie is one of the big reasons why my EX is much lower than the other two CB’s since this derog is only showing on EX.
Aarons Rental at $435 – The rep that I spoke with over a month ago clearly stated that they will not delete derog items off of anyone’s report. So, I will call back again here soon and see if I can get these guys to change their minds. Showing on all 3 CB’s.
I’ve read a few times that just because a derog balance is paid in full on your CR, that FICO still scores it the same, is this correct? If underwriting says for me to pay it before I can close, I have no issue doing that. But if these companies aren’t willing to simply delete the derog off of my CR, then I will let it just sit there, save my $$$ and keep improving my scores steadily with these credit cards and then with the new mortgage loan as well. I have the Wells Fargo credit monitoring service which uses FAKO scores from what I believe. Wells Fargo, as of the day my lender re-pulled my credit, is showing very very similar scores. So that makes me feel good about having my credit pulled via myself on a monthly basis and those FAKO scores being nearly identical to actual lender pulled FICO scores. Food for thought.
Using my two CC’s wisely, but I had an issue just yesterday, my Wells Fargo card on the new statement will show a balance of $287 on a $300 limit card. I sent the payment one day late, which I’m royally ticked off with. Wells, unlike BofA, doesn’t have a clear cut date for statement cuts on their online interface. So, what I’ll have to do is call into them around the 20th of every month, figure out when the statement cuts for that particular month and keep the balance under $27. On top of that with me paying off the balances on both cards last month so that both statements show zero on each statements because the two small charges that I wanted to show on BofA didn’t go thru til the day after the statement cut. Because I’m using these cards as charge cards and therefore paying the balances off every week, I’ll have to monitor my charges/payments more closely from this point forward.
Wanted to update you guys because alot of you are in the same sailing boat as I am.
Congrats on your success!!
Thanks Meehan.
Titan, that's exactly what I thought. I ran across a blurb about that here on the forums and was shocked to say the least, that in fact a paid derog that still shows on your CR counts the same as if you owed a balance. I'm gonna try and give those two remaining derog companies a call today or tomorrow and hope to make some progress. Honestly, I want perfect credit by the end of the year, meaning all negative items removed completely from my CR.
