Re: 2nd mortgage seen as open credit on Fico score
10-06-2012 07:44 AM
My credit score recently dropped because I used a credit card to the maximum ($1,500) for my daughter's college expenses. I paid it down, as of today there is $400 on the balance. It must have missed the reporting date. Unfortunately, witth her new rent I accessed my overdraft line of credit last month ($2,000). I paid $300 toward this and will pay $150-200 month over the payment of $50. I re-adjusted my budget to accommodate these changes so there will not be an issue going forward. Is there anything else you suggest to help me regain a higher credit score?
I have a score of 719 now and I have a interest only first mortgage ($650,000) and a 2nd mortgage ($123,300) that continues to show up on this report /Fico score as an open credit. I'd like to get a 15 year or 30 year fixed including both balances. On this amount of a loan a score like this will cost a thousand extra.
Thanks for your help!