FGMC mortgage wouldn't even try!!

ranjen1 · ‎02-13-2013

I applied for a loan with FGMC mortgage since I have seen quite a bit of success from other posters here. They emailed me back and said they could not help me at all and that I had to have all my "disputes" resolved prior to applying again. They also referred me to home loans assist which is a credit repair agency that charges 129 up front then 99 a month..what a scam...so I guess I am just on my own to try to figure out how to repair my credit. Problem is, I have no late payments for the last 12 months and the few items I have that are recent collections are all medical bills, which I told them I would pay once we got the loan process started. Everything else is just old charge offs from 2008 that I am not going to resurrect at this time.

LENDER PULL 02/13/13 EF 574 TU 596 XP 554
LENDER PULL 03/21/13 EF 632 TU 611 XP 589

GOAL: 640 FOR USDA

drkaje · ‎02-13-2013

Research before applying may have prevented some frustration. I haven't seen any examples of companies willing to extend mortgages with open disputes or recent collections.

Also, the scores from Credit Karma are for educational purposes only. If those were real scores, they'd be too low for most companies.

The rebuilding forum is a great resource/tool for credit repair.

Starting Score: 675
Current Score: EX 753 FICO, EQ 737FICO, TU 738
Goal Score: 776 FICO

Take the FICO Fitness Challenge

ktl72455 · ‎02-13-2013

Very true on the credit Karma scores :-) My fico scores are 24 and 14points lower than Credit Karma while others are higher. Pull your 2 Fico's here and get a better idea where the score really stands.

From MI.
12/4/12 TU 589 MyFico ~EQ 579 MyFico ~EX 577(Fako)

Myfico 8 scores
6/12/20 TU 803 ~ EQ 814~ Ex 784
My Wallet: Cap1 3,500K ~FH 2950~Credit One 1750~Credit one #2 1250~Orchard Bank 400 ~NFCU nRewards 18,000~NFCU Cash Rewards 18,500 ~Care Credit 12000~Discover 6000~Lowes 5450~ Amex 5400.00 ~ Harvest King 8000 ~ Langley~Penfed~Service CRU~red stone cru~
UTL 17%

ranjen1 · ‎02-13-2013

The lender at FGMC sent me a nice copy of mine and my husband's combined report complete with scores. And that was free so I will take that for now and get to work!!

LENDER PULL 02/13/13 EF 574 TU 596 XP 554
LENDER PULL 03/21/13 EF 632 TU 611 XP 589

GOAL: 640 FOR USDA

drkaje · ‎02-13-2013

@ranjen1 wrote:
The lender at FGMC sent me a nice copy of mine and my husband's combined report complete with scores. And that was free so I will take that for now and get to work!!

That's awesome! You really do have a perfect place to start repairing things. Don't forget to get your Innovis report, too!

Definitely avail yourself of the rebuilding forum and learn about PFDs. Medical debt can be a bear.

Starting Score: 675
Current Score: EX 753 FICO, EQ 737FICO, TU 738
Goal Score: 776 FICO

Take the FICO Fitness Challenge

ranjen1 · ‎02-13-2013

Most of my collections are from 2009 and before. I do have a few from 2010 and one in 2011 and one in 2012. how far back do you think I should go as far as paying off the collection agency? National recovery holds almost all the collection accounts except for the old charged off cc's which are held by good old LVNV..

LENDER PULL 02/13/13 EF 574 TU 596 XP 554
LENDER PULL 03/21/13 EF 632 TU 611 XP 589

GOAL: 640 FOR USDA

guiness56 · ‎02-13-2013

It depends on the lender what will be required to be paid.

I would start with the newest one since it impacts your score the most. Then the next newest one, and so forth.

Score wise, it would be best for the collections to be removed. Maybe you could work a PFD with them.

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