👋 it's been a while since I posted. I am trying to get my mortgage scores high enough so I can do a cash out refinance on my home, the equity in my home has gone up over 40% and while the rates are so low and I can proof income from 2 full time jobs.
My credit scores took a dive when I made the decision to have a child and I needed to go the IVF route. My insurance did not cover much of the procedures theirfore I paid over $40k in cash. No regrets because I now have a healthy 15 month old son :-).
I have several late payments on my CCs and several chargeoffs. I have been working 2 full times job for almost a year. One job for 5 years and it will be one year on the other next month. I have been aggressively paying down my debt and obligations. My CC utilization is less than 5%(total credit lines about 40K). No car payment. Back on track with student loans(multiple lates in the past). I have settled and paid off 3 of my chargeoffs. I have 2 more to go. Currently paying my BOfA chargeoff, they wouldn't except a settlement. The other is Merrick bank. I have a personal loan that I owe 9k. I sent letters for late payments forgiveness with no luck.
I do however have several positive trade lines.
With my 2 jobs I make 206K. I don't know what else to do to raise my scores. Do you think going ahead and paying off the last 2 charge offs and the personal loan will help?
When I do apply for a refinance will they use the income from my second full time if I have not been their for a year?
I included my Fico 8 scores and Mortgage scores. My Experian score dropped 22 points due to the settled charge off.