how big of a jump?

[pumpkin1dog]

question is i just paid off a car loan and refinanced another into my wifes name only. the one was for 17k and had been 30days late the last three moths in a row, the other was for 25k and was only three months old and never late, I need 25 points to qualify for a mortgage, just curious if anyone has a ballpark what I might see when the rapid rescore comes back.

[TheGardner]

No idea, you did mean that you have been late from May to July this year right? (or April to June)

[ezdriver]

10 points. Just a guess.

[juniornj23]

Call your creditor and ask for good will adjustment they could delete the late payments

[09Lexie]

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@pumpkin1dog wrote:

question is i just paid off a car loan and refinanced another into my wifes name only. the one was for 17k and had been 30days late the last three moths in a row, the other was for 25k and was only three months old and never late, I need 25 points to qualify for a mortgage, just curious if anyone has a ballpark what I might see when the rapid rescore comes back.

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The issue is the late pyt/recently.  I doubt that you will receive much or anything until the late pyts are removed; paying it off will not erase the derogs.  Ask the lender for a GW adjustment 

[fishbjc]

I would be very surprised if anyone gave a mortgage loan with three recent lates.  Usually it's 12 months clean.  One 30 day is a possibility, but not three recents.

Try the goodwill route.   Ask over on the mortgage board, they are experts!!

Good luck and I hope it works out. 

[pumpkin1dog]

I got a 45 point jump in my score by paying off my ex wife's car which has been deliquent by 30 days 3 months in a row this year, this was enough of a jump to qualify for a usda mortgage at 4.375 percent. Got a contract on a new house! Hooray

[Anonymous]

Congrats!

[New_Beginning]

Congrats!