Rebuilding Your Credit

[Shogun]

Wow!    I'm sure hoping that this works out for you!!!!  As for the breathing part.  In then out!

[Trons]

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Shogun wrote:

In then out!

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That's what my wife keeps telling me.  I'm still learning.

[Trons]

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UPDATE:

I received my pre-qualification letter from my lender today.  He didn't give me my scores, but did say that I'd be receiving them in the mail soon.  He did tell me that my Mid was 677 so that's a heck of an improvement from last month.

I did want to say thank you to everybody on this forum.  The posts on this forum have really helped me understand what I needed to do.

Now...I just need to get the seller to settle down and work with me a bit.

[Trons]

UPDATE:

I'm now a "New Contributor."  I'm not sure what's going up faster, my FICO or my labels.

[Charla]

Great success. Love your thread. Keep up the good work. Congrats on getting your house again!

[scmami]

Congrats to you! I love to hear rebuilding stories as I am in the process too. Keep updating, we are rooting for you!

[saverintexas]

Just landed on these threads during some surfing/ilurking ... but had to comment on your positive posts.  Rebuilding American credit ... one hard working person at a time!  Your comments have made me smile.  Good luck in returning to your family's home! 

[Trons]

Sorry for the lack of updates, the last 11 days have been very hectic and I have not been myself.  I will give a brief run down:

The offer was verbally accepted, when we went to sign a contract, the seller got sick and was out of commission for 2 days.  When she finally called me back, she said she felt obligated to give another gentleman, who had looked at the house before us, a chance to buy it.  He was seeing about his financing.  We were heart broken.

It turned out that he couldn't get the financing (Guess he doesn't visit here).  We're good to go, again, so we think.  The next time we try to get the contract signed, she says that another couple, who also looked at the house before us, wants to put in an offer but they are also working on their financing.  Bammm....Heart broken again...

She calls me the following day and says that the couple couldn't get financing either and we are good to go at 4:00 that afternoon.  She'll call me around 3:30 to make sure we are ready...No call at 3:30.  I call her at 4:30 and she says that she has some questions about the contract (at this point, she has had it for almost a week) and wants to talk to my LO about it before moving forward.  BAMMMMM......heart broken again....

After a fitful night, she calls me the following day around 12:00 and says she's ready and she'll come out to where I work around 5:00 to sign.  I call my wife and have her meet us, and we SIGN THE FREAKIN' CONTRACT.

Unfortunately, it was about 5:15 on a Friday Afternoon, so my LO has left for the day.  I have text him and let him know, but we can't get the ball really rolling until Monday.

Lady's and Gentleman.  We are under contract, moving forward and its looking good, however I will not sleep right until we close.  I've told my LO to close asap with a complete disregard to prepaid interest. 

[StartingLifeOver]

I have thoroughly enjoyed your thread. Congrats on all your improvement. Keep up the good work! From what I'm reading, it seems like your family and that house are just meant to be. You mentioned an excel spreadsheet you are using and it sounds really helpful. Did you create this yourself or is it a template that could be downloaded from the net?? I'm not an excel wiz but that sounds like an answer to my budgeting prayers!

[Trons]

The spreadsheet is something I made myself, after searching online for something that'd do what I wanted it to do.  I'm not an excel wizard, but this was pretty easy.  I could probably find a way to get you copy, but it would be just as easy to explain it.  The only equation I used was "=sum(x;y)" where x and y are the cells I'm trying to combine.

Across the top I have "date" "bill" "amount" "total" as columns a, b, c, d.  Then I would put in something like:

A                        B                      C                           D

10/1                  Rent                 -700                      =sum(d1;c2)

10/1                  electric            -300                       =sum(d2;c3)

10/1                  Pay                  1000                      =sum(d3;c4)

What this will do is take the total I've manually inputted into cell d1 and subtract the -700 I have in cell c2 ($700) and give me a total, then perform the same calculation on the next line for the electric bill.  At first it was a PITA to get it all set up, but once I figured out cut and paste it got a lot easier.  Off to the right a few columns, I set up a group that shows every bill and the due dates so when I put in a month, I can make sure I don't forget something.  Below that I have also set up a section that lists each credit card for my wife and I with their due dates, the report dates, the balance, the limit and the utilization.

If you start playing around with and need help with equations or something, let me know.  Everything beyond what I have put up there is for show.  Examples would be increasing the cell sizes and font sizes to make it easier to read, color coding certain bills that may change month to month, so they're easier to find when I need to change them, ect.  Play around with it, Excel is a great program that I started to get to know when I owned my own business many years ago.  My current job allows me to use it as well, so I get to practice with it regularly.