DEPRESSED!!!!!!!!!!

[Anonymous]

Everyone please keep in mind that most experts believe the housing market has yet to hit bottom. Time is on your side if you are working to improve your credit and your scores are rising. The houses will still be there six months from now, and your scores will only rise.

[Anonymous]

hi Girlie:

I once knew a successful person who told me "if you want something, you have to expend more of it".  For instance, if you want more energy you get it by exercising not by resting more.  I'm curious to know, how many credit cards do you have and what are the cl lines?  I don't want to get personal but if you're relatively young that might be a factor as well as how long you've worked at your present employer.  Although FICO does'nt base your score on these factors, the lender does.  I've seen mortage people post on this board that they've seen people with 800+ scores get denied.  My recommendation to you is try to increase your credit lines.  Until a few years ago, I really didn't care much for credit.  I started by becoming a joint on my father's cc.  Once lenders/ccc see that you have high lines of credit, they open their arms and give you one as well.

[Anonymous]

I am a mortgage banker that can fund loans in all 50 states.  If your income qualifies you and it can be documented, and you also have verifiable assets then your scores are not sub-prime.  620+ should be able to get great rates assuming you have correct income and asset documentation.

The only exception to this would be if you are trying to obtain 100% financing, in that case, yes minimum fico scores have been raised to 680+ with most major banks. 

Feel free to pm me if I can help you out and good luck with your house hunt!

[girlie]

thanks so much for all your support.  i am not young and my credit history is 16 years average age of accounts 12 years.  i had many credit cards that i fell behind on when i was over extended and the creditors closed those accounts.  i still have small balances on these three accounts but they are closed and i think that is what is killing me.  i only have one open account.  i recently received an am ex card but it is reporting yet.  as far as the loan, i am self employed and have to do stated income and that is also what is killing me.

i just met with my financial planner and i thought going to see her would only make me feel worse, but somehow it made me feel better to be working on a plan for my future.  eventually, i'm going to get it right

[Anonymous]

Hey girlie,

Its okay to be upset and even feel down sometimes, just don't stay down.  Look at this whole credit thing as a boxing match, we are fighting against the champ and everytime we get in a good right hook, here he comes back with a one-two punch, an uppercut and a sucker punch..  We have to be ready for those times, ready to get back up and get back in/on our game, fists set to fight.  Through your post, you have shown us that you are a person of integrity, character and tenacity.  Though your heart is hurting over this and you feel like what is the point, you have already come so far.  Keep reaching for the stars (700 and up FICOs) and you will get there one day soon.  Be blessed.