Help...Need to get 660 score in the next few months...is it possible?

[zoe505]

Here is my situation..Currently my fico score is hovering around 580. I need to get a USDA loan for a home soon since my current rental home is being put up for sale. I have a 9 year rental history in this home with no lates. I have a 16 year job history at the same employer.

My credit report has one judgement from 2011 that was satisfied (but not showing as satisfied on CR). 

One collection from Jefferson Capital for $330 that is dated 2010..I have had no luck in getting PFD from them, yet.

I have one 30 day late to Capital One in sept. 2013 and one 30 day late to Fingerhut in Aug. 2013.

I have student loans that are in defferment since I am currently in school.

I have a Capital One secured card with $300 limit that I have been using and paying off every month and a U.S. Bank secured visa that I have been using and paying off each month. I also have a personal loan that I pay each month with no lates. I have at least a 8 year loan history with this company but they do not report to all CRA.

So is it possible to get my credit score up for a USDA loan in just a few months? What would be the best steps to take to raise my score quickly? I really don't want to try to rent another property for a year until I can buy a home. Rentals in my area are few and hard to find.

Please help!

[gdale6]

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@zoe505 wrote:

Here is my situation..Currently my fico score is hovering around 580. I need to get a USDA loan for a home soon since my current rental home is being put up for sale. I have a 9 year rental history in this home with no lates. I have a 16 year job history at the same employer.

My credit report has one judgement from 2011 that was satisfied (but not showing as satisfied on CR). Dispute it with the CRAs, if it updates to Paid status, see about filing a motion to vacate on grounds its been paid.

One collection from Jefferson Capital for $330 that is dated 2010..I have had no luck in getting PFD from them, yet. Try PFD again if no go just settle it you will have to anyway in order to close. You can send GW letters once a month once you pay it off asking that it be removed.

I have one 30 day late to Capital One in sept. 2013 and one 30 day late to Fingerhut in Aug. 2013. GW letters to the EOs of both companies.

I have student loans that are in defferment since I am currently in school.

I have a Capital One secured card with $300 limit that I have been using and paying off every month and a U.S. Bank secured visa that I have been using and paying off each month. I also have a personal loan that I pay each month with no lates. I have at least a 8 year loan history with this company but they do not report to all CRA. You need at least 1 more revolving bankcard (that reports to all CRAs) to help maximize your FICO it can be secured or unsecured but you dont want to be apping for it if you are going to do a mortgage app within 6 months.

So is it possible to get my credit score up for a USDA loan in just a few months? What would be the best steps to take to raise my score quickly? I really don't want to try to rent another property for a year until I can buy a home. Rentals in my area are few and hard to find.

Please help!

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[zoe505]

Thank you gdale for the advice. I really don't want to apply for any new credit right now since I don't know how long I have to remain in my current home.

Will getting the judgement vacated (provided I can) and getting the Jefferson Capital removed be enough to raise my score?

I am really stressing out about the fact that I will not have a place to live in the next few months if my rental goes up for sale. My landlord let my house go back to the bank and I have been renting from them. I have sent a letter to the bank pres. asking for a year's extension on the rental agreement to give me time to get my credit up to par to purchase. He said he is going to check with their realtor to see what the housing market in my area is and then he will make a decision. He told me he would give me a 90 day notice prior to putting the house up for sale. However, given his track record of not replying to my 3 previous voice messages over the last 2 weeks, I don't really believe him about the 90 day notice thing.

So right now I have no idea which way this is going to go. I have to prepare for the worst case scenario and assume it is going up for sale soon.