i have been working diligently for the past year to pay on time, pay down my debt, write good will letters (most ignored or not received well), read this forum and apply all your great advice and generally rebuild my credit. i was recently approved for delta sky miles and even received a cli increase almost immediately after requesting so my total cl is $3000. i thought i was on the upswing and i was putting my credit problems behind me. NOT SO my mortgage broker tells me. long story short i have raised my scores from 466 tu, 490 ex, 535 eq to 678 tu, 667 ex, 661 eq. i thought i would be in decent shape when shopping for a mortgage even though there are many, many, many rolling lates. i was just advised by my mortgage broker that she has to get me a subprime loan. i may not even purchase anything at this point. i might just wait it out and see what happens.
what really kills me is that a friend of mine filed bankruptcy and his score was in the 700's two years after filing. here i am paying back every friggin cent i owe and after 15 months i am still away from the elusive 700 club.
sorry for sniveling, but i am having one heck of a pity party for myself today
@girlie wrote:i have been working diligently for the past year to pay on time, pay down my debt, write good will letters (most ignored or not received well), read this forum and apply all your great advice and generally rebuild my credit. i was recently approved for delta sky miles and even received a cli increase almost immediately after requesting so my total cl is $3000. i thought i was on the upswing and i was putting my credit problems behind me. NOT SO my mortgage broker tells me. long story short i have raised my scores from 466 tu, 490 ex, 535 eq to 678 tu, 667 ex, 661 eq. i thought i would be in decent shape when shopping for a mortgage even though there are many, many, many rolling lates. i was just advised by my mortgage broker that she has to get me a subprime loan. i may not even purchase anything at this point. i might just wait it out and see what happens.what really kills me is that a friend of mine filed bankruptcy and his score was in the 700's two years after filing. here i am paying back every friggin cent i owe and after 15 months i am still away from the elusive 700 club.sorry for sniveling, but i am having one heck of a pity party for myself today
Are those your FICO scores (678-667-661)? If so, how loyal are you to your mortgage broker? Seems like you could certainly do better than subprime, unless there are other factors affecting approval.
yes those are my fico scores she pulled and the same that i have pulled from myfico. she is excellent! i work in the real estate industry and i have referring her to my clients many times over so i don't think the problem is her. i am just wondering when does this credit stuff get easier. when will my mistakes from the past stop haunting me?
noah, thank you but i don't think the issue is the broker. she is meeting with a lender rep later today and then will have more information. i know more later and might hit you up on it later. thanks for all your supports guys.
Don't get discouraged.
That was me last night, but I feel better now.
The point is that you are doing things and making steps and you are seeing an improvement.
Think about it carefully, if you can wait a few months before buying a house then I might be worth it to wait, let the lates age some more.
You're doing good, keep doing exactly what you're doing.