I have a bk7 discharge from 9/2019 and have been working with my Credit Union thru work very closely. When my bk was discharged my version 2 FICO (the mortgage version) was a 540 it is finally just hit a 670 - GOOD rating. My question is now what? I want it to go higher, right before my discharge I actually was able to get a condo via owner finance with a 3-year balloon. Balance is $46,000 right now I paid $50,000 put $2,500 down at closing at seller paid all closing cost. The entire monthly payment is $674.08 It was an awesome deal considering I hadn't even gotten my discharge yet. Filed in May, closed in August and Discharged in September.
Since Filing I have opened the following I PIF weekly religiously.
The negative - Experian shows 7 accounts that were included in the bk7, for whatever reason a lot of them fell off all 3 bureaus. ALOT over 40 vanished immediately when filed.
I have 77 inquiries, part of my bankruptcy was due to financial exploitation by a family member, who would apply and charge up cards in my name. About 10 of those inquiries are mine. 25 are in the last 12 months. I do plan to file and request a block here in a few weeks.
So my question is, is my FICO 2 the highest it can be right now? The CU is ready to do a portfolio refinance this next month but the way it works is it will go straight to the CEO for her approval. The Loan Officer and Branch Manager say my progress is amazing they are shocked how much my score has increased so quickly. They did say they really don't look at the score for approval except for determining a rate or limit for lending. For the portfolio, mortgage requires 80% LTV and their own words "The deal just needs to make a lot of sense, which this deal makes good sense." What I am hoping is I want to WOW the CEO when she gets my file on her desk. BK7 and a 700 in a year WOWZA!
The only real thing I can see that could help is maybe if I start throwing more money at the Auto Loan I could comfortably do $600 a month for 3 months or I could actually sell it and pay it off. Not sure what to do.
Thanks, I appreciate any insights on the FICO 2 secrets.