Can someone offer some advice on my situation? I am trying to raise my credit score to at least 620-640 in order to approve for a home loan. I know that improving credit takes time but I am looking to increase the scores asap. I had an apartment fire back in March and have been living with my parents since the fire so that I can improve my credit and prepare myself to purchase a home. Anyhow, I am 30+ years old and havent lived with my parents since i left for college at 18. Im getting super anxious and would like to be in the process of getting a home by January 2015. Is this possible????
Here is my current situation:
Collection Accounts:
Ive had 4 collection accounts paid and removed already. The remaining accounts are as follows:
Enhanced Recovery (ATT) - 154.00 (Recently Validated & appears to have been removed)
Williams & Fudge (Strayer Univ) - 776.00 (Sent 3 PFD and no response)
Midland Funding (Aspire) - 346.00 (sent letter regarding Aspire/Columbus Bank & Trust litigation - no response yet, planning to file complaint with BBB and FTC if I do not hear back from them soon-- also may need to pull an updated report to see if it has been rem'oved)
Credit Management (Comcast) - 0 Balance (Sent letter requesting deletion - no response yet)
Scana Energy - 0 Balance reflecting Paid Charge Off (Sent GW letters - no responses)
Revolving Accounts (all opened in btw Jun 2014-Oct 2014:
First Premier $350 CL (115.00 Balance) Will be reporting at 0 on 10/25/14
Capitol One $300 CL (34.00 Balance) Will be reporting at 0 on 10/23/14
Fingerhut $500 CL (0 Balance)
VS $250 CL (0 Balance)
One Stop Plus $250 CL (0 Balance) - Did not realize that this was a pluz size retail account lolol. I want to close it but Im afraid that it my have a neg impact on my credit score...
Installment Accounts
Nelnet and Suntrust Student Loans totaling about $65,000
Neltnet ( 2 of 4 accounts reporting one 90day late)
Accounts are current and in good standing
Currently in deferrment until Jan 2015
Sent GWs and they wont budge
Wells Fargo Dealer Services - High Limit 23,000, Current Balance $2400, Will be paid by January
(1) 30 day late in 3/2014 and (15) 30 day lates from 2012-2013
Sent several GW Letters and they wont budge.
Closed Accounts
Citibank Student Loans - sold/transferred but showing 120+ days late 2011
Sallie Mae Stdent Loans - sold/transferred but showing 120+ days late 2011
US Dept of Ed Student Loans - sold/transferred but showing 120+ days late 2011
Sent GWs to all and they wont budge
Have about 10 closed accounts with good payment history dating back to 2003
Inquiries
8 inquiries between 2013-2014
This about sums it up.
The Equifax.com FICO 04 score is the only one that I care about. As I understand it, this is the score that mortgage lenders use. The score is currently at 582, up about 60 points since early October!!!!
Im starting to feel like im running out of options for increasing my scores. Can anyone pleeeeease lend any advice on additional ways to improve the scores and in what order the remaining collection accounts should be paid off. Also, any insight as to whether theres a possiblitly that I could be a possible candidate for mortgage loan approval by January. Any advice or experience would be greatful and very very much appreciated.
Thanks in Advance!!!!!!
-firsttimehomebuyer2015
