NEED HELP raising my credit score ASAP

[Shinoga]

Hello,

I'm trying to get a conventional illinois smart move mortgage and my mid score is 640..I qualified for the Wells Fargo city lift program which reserved $ 15K in funds to help with closing and down payment assistance. I have until 12/24 to close on a property or I will lose the funds.I need 20 points to get this loan. I was approved for FHA before but it's hard to find condos that are FHA approved. Here my CR right now

Cap1 - Derog but paid..i been trying GW no luck

First Premier - CO - not going to bother paying them it's from 07

HSBC best buy- derog - paid - no luck with GW them so far

HSBC - derog -co paid after co - no luck with GW so far

Cap1 - $ 500 limit $240 balance

BofA -500 limit - $ 480 balance - I just paid the entire balance today

Orchard bank CC-$  300 limit- $ 134.00 balance

I'm not sure what else I can do to get a 20  point increase within the next couple of weeks. Any help is appreciated as I'm running out of time to utilize these funds. 

[Anonymous]

I am not sure if this will earn you 20 points but I would pay off another cc and leave one at a very small balance ($40).  You then have to find out when these cards report to the cra's. 

[Shinoga]

any other suggestions?

[webhopper]

Pay for delete of FP?

I really don't think you have enough time

[pdog661]

Best bet for a quick one month bump is going to pay down your utl rate to 9%. 

With your current available limits you should only carry $117.00 on them. 

If you have recently purchased your score use the simulator and see if this will move your score enough. 

GW adjustments would be huge if you could get them done.  I did one with Chase, and it posted to my account in 2 days after I spoke with them.

Search HSBC GW and you may be able to find the back door info and numbers.

GL. 

P.S is there a reason you need 20 points, ie lendor stated only way to be approved?  Sometimes 640 is high enough not to need to worry.  I would view the COs a more of an issue then the score itself. 

[pdog661]

Best bet for a quick one month bump is going to pay down your utl rate to 9%. 

With your current available limits you should only carry $117.00 on them. 

If you have recently purchased your score use the simulator and see if this will move your score enough. 

GW adjustments would be huge if you could get them done.  I did one with Chase, and it posted to my account in 2 days after I spoke with them.

Search HSBC GW and you may be able to find the back door info and numbers.

GL. 

P.S is there a reason you need 20 points, ie lendor stated only way to be approved?  Sometimes 640 is high enough not to need to worry.  I would view the COs a more of an issue then the score itself. 

[sharpie]

I got HSBC removed with a GW submitted through Planet Feedback a few years ago.  GW the others like a madman.  In writing, through Planet Feedback, find as many different addresses as possible.  If you start googling stuff you can come up with addresses to try.  I paid my cc down to 9% and it didn't help, but then I paid them down to 0% and it jumped my score.  I think it was due to the fact they all have pretty low limits, maybe?  Anyway, I tried it again and again over a few months and always the same result.  It was last year, and I don't remember the specific jumps.  Good luck.

[j_casteel]

The underwriters may require you to pay off the old derog before approving you. I know I had to pay any and everything (negative) off before I was approved 4 a mortgage back in 2007.

Like others stated...theres really not much time but getting your UTI down will help.

[beb86]

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@Shinoga wrote:

Hello,

I'm trying to get a conventional illinois smart move mortgage and my mid score is 640..I qualified for the Wells Fargo city lift program which reserved $ 15K in funds to help with closing and down payment assistance. I have until 12/24 to close on a property or I will lose the funds.I need 20 points to get this loan. I was approved for FHA before but it's hard to find condos that are FHA approved. Here my CR right now

Cap1 - Derog but paid..i been trying GW no luck

First Premier - CO - not going to bother paying them it's from 07

HSBC best buy- derog - paid - no luck with GW them so far

HSBC - derog -co paid after co - no luck with GW so far

Cap1 - $ 500 limit $240 balance

BofA -500 limit - $ 480 balance - I just paid the entire balance today

Orchard bank CC-$  300 limit- $ 134.00 balance

I'm not sure what else I can do to get a 20  point increase within the next couple of weeks. Any help is appreciated as I'm running out of time to utilize these funds. 

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Pay off your balances and leave maybe $1 on BOA....keep in mind the like to see 4 active TL so you may have to dig up a non traditional TL to qualify 

[Shinoga]

wgat do you mean by non traditional TL?