Posted on Mortgage Loan board too...maybe it belongs here??

[newmomnewme]

I have put myself on a timeline....I want to be pre-approved for a mortgage loan before 3/1/2014. That gives me exactly 5 months to: 

1. Pay $2800 Judgement that was filed 12/2011-- I will pay it before 12/1/2013, then try to get it vacated.  

2. Get $3600 MD State Tax lien removed/withdrawn was filed 6/2012- it was based on a 2006 return (they filed it), when i refiled I owed and paid $450 

3. PFD $8000 Calvary Portfolio (old Citifinancial loan)-- I will pay before 1/15/2014; would it be better to start a payment plan NOW??

4. Keep sending GW letters to get lates and super old paid collections deleted

5. Make timely payments on credit cards in my wallet (Cap1 Platinum, Cap1 Journey, Target, Victoria's Secret) 

EQ FICO is 583 (10-2-2013) FAKOS are in my signature-----I need to get to 640 on all three to qualify for USDA Guaranteed Program. 

Am I being realistic??

[llecs]

Keep hammering away. Opt out now from all 3 CRAs. Know that revolving util is heavily weighed per FICO, so pay all CCs to $0 except for one and get the one to report a balance of under 9% of the reported CL. I'd also check with lenders now (don't app) to see what the lending requirements are for USDA. I don't know how the lien would play into the process.

IMO, pay Calvary in one lump sum. Don't pay over time. And do so via an approved PFD agreement.

[newmomnewme]

Thanks! My finance guy told me to get a few credit cards (I got three--Barclays, Cap1 Journey, and Target) I will use them once; hope they report, then keep balances at $0 except for the Cap1 journey...no interest. 

As for Calvary, I will have to wait until I get my lump sum in hand and contact them to get a PFD in writing!  

[montoya83]

I was in the same boat as you I went from a 520 to a 618 EQ FICO but was still denied I was told I paid off all my debt which was a good thing but needed to wait longer... what ever that means since then my score has gone up to 648 EQ FICO but still kind of scared if I should apply again..

[newmomnewme]

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@montoya83 wrote:

I was in the same boat as you I went from a 520 to a 618 EQ FICO but was still denied I was told I paid off all my debt which was a good thing but needed to wait longer... what ever that means since then my score has gone up to 648 EQ FICO but still kind of scared if I should apply again..

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648? You should be able to apply again especially since you paid off all of your debt....I have 3 unpaid collections that are supposed to fall off between now and end of November. This is such a long road. I have to keep reminding myself how long it took to get IN this mess in the first place.