mortage

[Anonymous]

Hi all, I applied for a mortage recently to see where I was at, she told me my middle score was a 469 and that she couldnt help me. I have some loans and a judgement on my credit as well as ALOTof inquiries. I just started a new job in July but ive relatively have been in the same line of work for over 20 years expect when i went back to shool in 2012-2013. I also have a student loan that is deferred until 03-16. I just got 2 secured cards to help bring my score up and a small installment loan and a fingerhut account. I WANT AND AM DETERMINED TO GET MY OWN HOUSE SOONER RATHER THAN LATER!!!!!! im thinking either a usda or a fha, ANYONE PLEASE HELP ON WHERE DO I GO FROM HERE.

[youdontkillmoney]

You need to get your scores up by:

1. no new inquiries, let the existing ones fall off in about 2 years

2. pay existing debt down and no lat eor miss payments please

3. no no debt, no  new inquiries

4. save, save save money when possible after paying debt minimums, more if you can afford, pay higher rate debt first

that's all I can remember from your post, this is a good start. you need to garden and uproot/till the soil (i.e. pay debt down)

[Anonymous]

Has the judgement been paid? I went the USDA Direct Loan route. For that program you have to have everything paid off and have to be able to explain any negatives if your middle score is under 640. It's best to have 3 credit lines, so make sure you keep those active, but paid down. They will look more at debt-to-income ratio and how much you make compared to others in your area. The big benefit is that you don't have to have a downpayment to qualify. 

First, you need to get rid of the bad stuff on your credit. I used one of the online programs that you pay every month to work on getting things removed. It was an extra expense, but I got rid of a lot of inquiries that helped my score. They also got rid of negatives (collections, etc).

[cartwrna]

Take the previous posters advice about using an online credit repair company with much thought. They don't do anything that you can't accomplish yourself with just a little bit of dedication time from home. Usually all those companies do is shotgun the credit bureaus and creditors for the bad accounts with multiple disputes. Sometimes they get them removed and other time they can lead you to being unable to actually dispute if you find a real reason later on down the road, sort of like the boy that cried wolf. Good luck with your journey.

[ezdriver]

Please spend some time reading posts in the rebuilding section of this forum. Just about every aspect of rebuilding credit has been discussed multiple times so you will find a great variety of feedback and recommendations there.