topic Re: CLOSED!! in Mortgage Loans

CLOSED!!

jandj80 — Thu, 31 Jan 2013 03:51:07 GMT

Well, back in July I officially began creeping on this forum, and joined here in Sept with dismal credit scores (400s). Now, a mere 6 months later, we are living in our new house. We closed Monday morning. We ended up getting 3.75% interest, 240K loan, and our midscore was 630. I want to thank everyone here for their help in this process, and I want all the newcomers and those who are hoping to buy a home to know that it can be done. It takes a lot of work, and patience, but you can do it. Never give up! Thanks all!

Re: CLOSED!!

cclee — Thu, 31 Jan 2013 03:53:20 GMT

Wow, that is awesome! Enjoy your home, you deserved it!

Re: CLOSED!!

Anonymous — Thu, 31 Jan 2013 03:56:35 GMT

Congrats!

Re: CLOSED!!

Anonymous — Thu, 31 Jan 2013 03:57:15 GMT

CONGRATS!!! Enjoy your new home!!!

Re: CLOSED!!

Anonymous — Thu, 31 Jan 2013 03:57:51 GMT

Wow that's fantastic! Congrats! How did you improve your scores so quickly?

Re: CLOSED!!

jandj80 — Fri, 01 Feb 2013 00:56:12 GMT

I called the creditors relentlessly, and got GW deletions on a couple old lates.

I wrote a lot of GW letters, and got some deletions. Not a single PFD worked for me.

I filed disputes on all inaccuracies, even ones with stupid things like wrong dates, etc. I filed and refiled several times.

I also used the CFPB for a couple duplicate accounts that the disputes didn't resolve.

I paid our credit card usage down from 100% to 30%. And I made sure everything was paid on time.

I used Credit Karma, MyFico, Credit Sesame, and Walmart FICO to track everything pretty much daily. I learned when accounts were updated, etc. and watched it all like a hawk.

The major jumps happened early on, and the rest was slow and steady. Good luck!

Re: CLOSED!!

Anonymous — Fri, 01 Feb 2013 03:10:35 GMT

Congrats excellent job...

Keep up the good work even now....

Re: CLOSED!!

Anonymous — Fri, 01 Feb 2013 03:54:20 GMT

CONGRATS!!! I have a couple of questions. I see your scores were low e when you first started. What other debt do you have like student loans or auto loans? Your story is so inspiring . We feel like we may have to wait a year or later but it sems as if we start working right away we can make moves much sooner. I am worried most about our debt to income with student loans end auto loans. We have a couple of lates on bill me later and cc, one charge off and a small tax lien. we also have high cc utilization but that can be paid down much quicker than student loans and auto loans. Thanks in advance and again CONGRATS!!

Re: CLOSED!!

DallasLoanGuy — Fri, 01 Feb 2013 15:26:02 GMT

congrats

you earned it!!

Re: CLOSED!!

Anonymous — Sun, 03 Feb 2013 05:42:06 GMT

HOORAY!

Re: CLOSED!!

mwmiller82 — Sun, 03 Feb 2013 20:57:23 GMT

Awesome news!!! Congrats Bro, my story sounds similar, only thing is I am waiting on my closing, I am almost there but they're still making me jump through some hurdles...

Rock on, Enjoy!!!!!!!!!

Re: CLOSED!!

Uppingmyscore — Sun, 03 Feb 2013 23:24:09 GMT

Congratulations

Re: CLOSED!!

Anonymous — Tue, 05 Feb 2013 00:21:48 GMT

Congrats! Its a great feeling to be a home owner. Those of you still waiting, try to stay calm. I know just how hard that is. I couldnt do it so I shouldnt be advising others but try anyways, lol.

Re: CLOSED!!

jandj80 — Tue, 12 Feb 2013 01:27:52 GMT

We had 12K in student loans, current. Payment of 165/mo. Auto total of 800/mo and always current. My husband makes very good money, so our DTI with those payments and a small amount of CC debt was still only 8%. If you don't have room for a mortgage you have to make room, so try to pay off debt. Small stuff first, as the payment is gone if the debt is gone. No lates in the last 12 months, and get those balances on CC under 30%, under 10% if you can. Best of luck, you can do it!!

Re: CLOSED!!

Anonymous — Tue, 12 Feb 2013 04:12:43 GMT

+1, great advice! :-)