My Credit Rebuild Journal

[tufa4311]

Well the reason why I started on this was that I wanted to buy a house. I've spent most of m life in Canada and owned a home there but I've been in the U.S for about 7 years and have not owned a home. So I connected with a mortgage company and started the process.

We pulled my scores back in Feb and they were Ex 640/TU 619/EQ 610.

I have one 30 Day late from Nov 2013 for $27. No excuse, I missed the payment, period.

My UT at the time was about 45%.

My credit life in the US is only since Feb. 2012. When I moved here 7 years ago I still worked for the same company I worked for in Canada, I got paid in Canadian dollars and used Canadian credit. I know now that was my biggest mistake - not opening US credit when I moved here. I just didn't think about. Another thing I didnt know was that the Corp AMEX I have is not on my credit report and it doesn't count towards my UT and my payments are not sent to the CB's. It's a Corp card so really the Corp is on the line if I don't pay so...

So I started the clean up process in Feb. I tried to get the late removed with all the tricks, didn't work. I worked to pay down my debt and not make any lates.

myFICO scored as of 05/21 are: EXP: 680/EQ: 684/TU: 665

My UT is at 9%.

My scores are were they need to be for my Loan Officer - we have started the mortgage application but I don't know what kind of rates they'll offer me.

What I'd like to do is get into the 700's but I don't know how much that will really affect my mortgage rates. Regarding my plan, I mentioed it before, keep UT below 10%, stay current, ans time, I just need to get more time on my US credit history.

That's where I am now.

What I need more info on is the real expenses on owning a home in the US. I'm told my LO will list it all out for my next Sat.

[ptilda]

Thanks for the information! It's very helpful for me to see how others are doing it

[ptilda]

Update:

Since my last posting, I lost my job. That's great, because I hated that job, and becuase not I get unemployment while I'm in school and working to establish my private music studio again (which is much better money than working for "the man").

So, I'm racking up my credit cards a little just so that I have the cash available for emergencies since my income is less than before. But still keeping on top of paying everything. The higher UTIL is likely why my score is hovering just around 700. 

No more applications (of course).

Walmart gave me another boost of $1,200 to bring me to $2,200. And Amazon boosted me $1,500 to $2,900. I'm loving those two cards, and I use them a lot.

Still pushing through. Not letting anything bad come on there. Paying on-time no matter what!