topic Re: Rebuilding credit to buy a house! in Rebuilding Your Credit

Rebuilding credit to buy a house!

Anonymous — Mon, 05 Apr 2010 18:44:56 GMT

Looking to buy a house with the USDA but want to clean up our cr first. Does anyone know the SOL in PA? I think it is 4 yrs but not really sure would appreciate expert verification. My husband's CR only has 2 collections on it but unfortunately he has only the 2 collections reporting on TU which won't give him a score at all. FICO also won't give him a TU or EQ score but I know a few years ago with the same info a LO pulled him 2 out of 3 scores. He has worked for the same job now for 6 years but I am unemployed. My scores are marginally better but not sure if we would qualify for a loan without me having a job. Any help would be appreciated! Most of my collections are medical. I am going to PFD hubby's 2 and 2 of mine this week. Hoping that helps our situation.

Re: Rebuilding credit to buy a house!

Anonymous — Mon, 05 Apr 2010 18:56:20 GMT

He needs to establish credit. They can't give you a score because he has no active tradelines reporting activity in the last 6 months.

Look into HIPAA, they say it works. Google "HIPAA letter", we cannot link to them.

Also, if you look at the mortgage forums, last time I checked there was anticipation of USDA funds running out (or having already run out) for this year, so I think you are delayed til next year at this point if that is the route you want to go. That may not be bad news. (There are also a bunch of other programs)

Re: Rebuilding credit to buy a house!

Anonymous — Mon, 05 Apr 2010 18:58:48 GMT

He has two loans which unfortunately only report to Experian. Anyway of getting those on the other two reports short of the lending company doing it because they won't?

Re: Rebuilding credit to buy a house!

Anonymous — Mon, 05 Apr 2010 19:05:43 GMT

No, only the creditor can have an account reported to a CRA.