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Would someone be able to help me make sense of this - desperately need 10 point for mortgage app.

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TanterBeans
New Contributor

Would someone be able to help me make sense of this - desperately need 10 point for mortgage app.

Oh Dear Rebuilding gurus - I really need your help.  I am trying to make sense of all this but it stil confuses me to no-end.  Here's the background: I've been posting on the mortgage board.  I believe we are going to be just about 600 scores this within the next week (just paid down credit card utilization).  We need 600 to apply.  I am desperately trying to get about a 10 point boost to have a tiniest bit of cushion room. 

 

I am so desperate - those points are the difference between us getting a mortgage now or having to move back in with my parents for awhile (fyi - our 6th child is on the way, I really don't want to have to do this.  We are so so close, I will personally give every one of you a hug if you can help me figure this out).

 

So, far I have paid down cc utilization - last two statements report march 25th and april 5th. 

 

Everything in the pat 2.5 years that's reporting has been clean and perfect payment history.  It's the old stuff that is dragging us down.  That, and between 11-13 inquiries respectively on our reports.  We got two car loans in the past two years and unfortunately got sent to so many banks I want to throw up just thinking about it now.  Those are the source for most of the inquiries.

 

I have wrote GW letters to any creditor that had a late payment on our report. The were all emailed, faxed, mailed last week.  No reponse yet.

 

These are the bad boys that I'm worried about.  They are old charge-offs, collections from 4-5 years ago.  I am wondering if there is anything I can do to these that would help boost our score (besides PFD - we have tried this over and over again and they won't do it).  They are all unpaid.  I WOULD HAPPILY PAY THEM AT ANY GIVEN TIME - THE ONLY REASON I DIDN'T SO FAR WAS BECAUSE TWO YEARS AGO WHEN WE TRIED TO GET A VA LOAN WITH ANOTHER LENDER (NOT USING THEM THIS TIME) THEY TOLD US NOT TO TOUCH THEM YET BECAUSE IT COULD DROP OUR SCORE.

 

I totally trusted him at the time and didn't.  Well, now raising the score is the most important thing and now I'm wondering if because of the way they are reporting if there's a chance it could help us if we paid or settled any of them.

 

Would it be okay to copy and paste some of the details here?  I am going to see how I can do this...

 

Thanks in advance for any help you might give!!!!!!!!!

 

 

Message 1 of 20
19 REPLIES 19
Shogun
Moderator Emeritus

Re: Would someone be able to help me make sense of this - desperately need 10 point for mortgage app

It would help us to understand your situation if you would copy and paste some of that information on here so we can take a look at it.  It would give us some idea on how to tackle this and get those points!

Starting Score: 504
July 2013 score:
EQ FICO 819, TU08 778, EX "806 lender pull 07/26/2013
Goal Score: All Scores 760+, Newest goal 800+
Take the myFICO Fitness Challenge

Current scores after adding $81K in CLs and 2 new cars since July 2013
EQ:809 TU 777 EX 790 Now it's just garden time!

June 2017 update: All scores over 820, just pure gardening now.
Message 2 of 20
madmann26
Valued Contributor

Re: Would someone be able to help me make sense of this - desperately need 10 point for mortgage app

Here we go,

 

The inquires don't even worry about them as the impact is negligible at this point. If the CO's are old CC debt, this is killing you score and will continue to hold it down until the OC's report a $0 balance.

 

You should've fired your previous lender.

 

Get the CO's paid and reporting a $0 balance and you should see a nice bump.

 

Current FICO 9 Scores



Message 3 of 20
TanterBeans
New Contributor

Re: Would someone be able to help me make sense of this - desperately need 10 point for mortgage app

Okay, this might take up a few posts because I exceeded my maximum character allowance :0 oops

 

Credit Summary
This section gives you a broad look at your current and past credit status. Here you'll find the total number of open and closed accounts in your name, the total balance on those accounts, and delinquencies.
 
EXPERIAN
EQUIFAX
TRANSUNION
    
    
REAL ESTATE ACCOUNTS:   
Count000
Balance$0.00$0.00$0.00
Current000
Delinquent000
Other000
    
REVOLVING ACCOUNTS:   
Count171513
Balance$5,510.00$5,510.00$5,590.00
Current131210
Delinquent000
Other100
    
INSTALLMENT ACCOUNTS:   
Count16610
Balance$74,600.00$61,258.00$61,258.00
Current8610
Delinquent000
Other400
    
OTHER ACCOUNTS:   
Count052
Balance$0.00$6,361.00$858.00
Current011
Delinquent040
Other000
    
COLLECTION ACCOUNTS:   
Count003
Balance$0.00$0.00$5,503.00
Current000
Delinquent000
Other000
    
TOTAL ACCOUNTS:   
Count332628
Balance$80,110.00$73,129.00$73,209.00
Current211921
Delinquent040
Other500
    
ACCOUNTS SUMMARY:   
Open Accounts:131415
Closed Accounts:201213
Public Records:101
Inquiries:161312
    
Message 4 of 20
madmann26
Valued Contributor

Re: Would someone be able to help me make sense of this - desperately need 10 point for mortgage app

That's painful. lol.

 

What's the public record about? That is also hurting your score big time.

 

Current FICO 9 Scores



Message 5 of 20
TanterBeans
New Contributor

Re: Would someone be able to help me make sense of this - desperately need 10 point for mortgage app

CAP ONE
 
EXPERIAN
EQUIFAX
TRANSUNION
    
Account Name:CAP ONE CAPITAL ONE BANK USA CAP ONE 
Account Number:51780572XXXX 51780572XXXX 51780572XXXX 
Acct Type:Credit Card Revolving or Option Revolving account 
Acct Status:Closed Closed Closed 
Monthly Payment:   
Date Open:2/1/2007 2/1/2007 2/3/2007 
Balance:$3,760.00 $3,760.00 $3,760.00 
Terms:Revolving   
High Balance: $2,162.00 $2,162.00 
Limit:$1,500.00  $1,500.00 
Past Due:$3,760.00 $3,760.00 $3,760.00 
Payment Status:Charge-off Bad debt & placed for collection & skip Charged off as bad debt 
Comments:Credit line closed-grantor request-reported by subscriberCHARGED OFF ACCOUNT ACCOUNT CLOSED BY CREDIT GRANTORCanceled by credit grantor
 
 
24-Month Payment History
 
Date:
MarAprMayJunJulAugSepOctNovDecJanFebMarAprMayJunJulAugSepOctNovDecJanFeb
111111111111111111111212121212121212121212121313
KDKDKDKDKDNDKDKDKDKDKDKDKDKDKDKDKDKDKDKDKDKDKDKD
KDKDKDKDKDKDKDKDKDKDKDKDKDKDKDKDKDKDKDKDKDKDKDKD
                        
 
Experian:
Equifax:
TransUnion:
  ^Top of Page^
Message 6 of 20
TanterBeans
New Contributor

Re: Would someone be able to help me make sense of this - desperately need 10 point for mortgage app

The public record is a Chapter 7 bankruptcy from 2005.  I know Smiley Sad

Message 7 of 20
TanterBeans
New Contributor

Re: Would someone be able to help me make sense of this - desperately need 10 point for mortgage app

FST PREMIER
 
EXPERIAN
EQUIFAX
TRANSUNION
    
Account Name:FIRST PREMIER BANK FIRST PREMIER FST PREMIER 
Account Number:461007474913XXXX 461007474913XXXX 46100747XXXX 
Acct Type:Credit Card Revolving or OptionRevolving account 
Acct Status:Closed Closed Closed 
Monthly Payment:   
Date Open:4/1/2007 4/1/2007 4/17/2007 
Balance:$543.00 $543.00 $543.00 
Terms:Revolving   
High Balance: $543.00 $543.00 
Limit:$300.00  $300.00 
Past Due:$543.00 $543.00 $543.00 
Payment Status:Charge-off Bad debt & placed for collection & skip Charged off as bad debt 
Comments: CHARGED OFF ACCOUNT CREDIT CARDProfit and loss writeoff
 
 
24-Month Payment History
 
Date:
DecJanFebMarAprMayJunJulAugSepOctNovDecJanFebMarAprMayJunJulAugSepOctNov
101111111111111111111111111212121212121212121212
KD                       
KDOKOKOKOKOKKDOKOKOKKDOKOKOKOKOKOKOKOKOKOKOKKDKD
                        
 
Experian:
Equifax:
TransUnion:
  ^Top of Page^
Message 8 of 20
TanterBeans
New Contributor

Re: Would someone be able to help me make sense of this - desperately need 10 point for mortgage app

HSBC BANK
 
EXPERIAN
EQUIFAX
TRANSUNION
    
Account Name:HSBC BANK HSBC BANK  
Account Number:515599000336XXXX 99000336XXXX  
Acct Type:Credit Card Revolving or Option  
Acct Status:Closed Closed  
Monthly Payment:$0.00 $0.00  
Date Open:2/1/2007 2/1/2007  
Balance:$0.00 $0.00  
Terms:Revolving   
High Balance: $500.00  
Limit:$500.00   
Past Due:$0.00   
Payment Status:Charge-off Bad debt & placed for collection & skip  
Comments:Transferred to another lender or claim purchasedACCOUNT TRANSFERRED OR SOLD CHARGED OFF ACCOUNT 
 
 
24-Month Payment History
 
Date:
MarAprMayJunJulAugSepOctNovDecJanFebMarAprMayJunJulAugSepOctNovDecJanFeb
111111111111111111111212121212121212121212121313
                        
OKOKOKOKOKOKOKOKOKOKOKOKOKOKOKOKOKOKOKOKOKOKOKOK
                        
 
Experian:
Equifax:
TransUnion:
  ^Top of Page
Message 9 of 20
madmann26
Valued Contributor

Re: Would someone be able to help me make sense of this - desperately need 10 point for mortgage app

So that Cap1 CO will be factored into you util. I would pay down the currect/active cards first and work on the CO one next.

 

Good thing is that the BK is close to falling off.

Current FICO 9 Scores



Message 10 of 20
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