Hi everyone! I am brand new to this site and I need a lot of help. My husband and I just found out that our landlord wants to sell our house. He wants to sell it to us, but if we cant get our credit up to where we have any home of obtaining a mortgage, he is puting it on the market. Also, we really want to buy a home before the end of Nov. so we can get the First Time Homebuyers Tax Credit. We have gotten just our Experian reports so far and our scores are me- 548, and Greg-566. I know we need a 620 to even be considered for anything, right? Is there any hope for us to get it up that far in this short amount of time?
Also - I sent PFD letters to every negative on our account, but mostly got no responses and the ones I did get said no. Will it raise our scores to pay them anyway?
ok - I am going to list some of the items on our reports and hopefully some nice people on here will have some suggestions
me- first of all there is Collection Serice Center listed twice for an old doctors bill. It is the same CA but different addresses. Can I dispute this? Who do I write a letter to - the CA or the CRA? It says Recent Balance - $282 on each of them.
Next is Diversified Collections for a hospital bill with a recent balance of $155.
Next is M&I Bank for a credit card. Status says: Account Charged off. $459 written off. $459 past due as of Feb 2007.
Next is Target-TNB with a credit card. Status says: Account Charged off. $380 written off. $190 past due as of April 2009.
Credit limit $200
high balance $380
Recent balance $190
NEXT- Verizon Wireless
Status: Account Charged Off
$562 written off. $562 past due as of Aprl 2009
NExt WFNNB Victorias Secret
Status: Account charged off. $391 written off.
Greg - my husband
central credit/penn credit for Allegheny power
Status: collection account $61 past due as of Feb 2009
chase
status: transferred, closed
credit limit/orig amt: $2000
high balance:$2796
recent balance: N/A
creditors statement: Purchased by another lender
commonwealth financial for first usa bank (i think this is for the chase card above)
status: collection account $3196 past due as of Feb 2009
recent balance: $3196 as of 02/2009
collection service center for a doctors office
recent balance:$65
Collection service center for emergency room visit
recent balance: $110
there are two of these but they have two different account numbers and i think they are two different things
midland credit mgmt for verizon wireless
status:collection account $401 past due as of march 2009
portfolio recovery for dominion peoples
status:collection account $311 past due as of Apr 2009
Please dont judge us! we know we have been extremely stupid but are trying to fix it- we just dont know what to do. We just need a lot of help and would be extremely grateful for any help you can give us.
We can afford to pay some of these off but dont want to do it if its not going to help us get a mortgage by november.
They are pretty much all scheduled to fall off between 2012 - 2014.
Thank you anyone who replies!!!!
@Anonymous wrote:Hi everyone! I am brand new to this site and I need a lot of help. My husband and I just found out that our landlord wants to sell our house. He wants to sell it to us, but if we cant get our credit up to where we have any home of obtaining a mortgage, he is puting it on the market. Also, we really want to buy a home before the end of Nov. so we can get the First Time Homebuyers Tax Credit. We have gotten just our Experian reports so far and our scores are me- 548, and Greg-566. I know we need a 620 to even be considered for anything, right? Is there any hope for us to get it up that far in this short amount of time?
Also - I sent PFD letters to every negative on our account, but mostly got no responses and the ones I did get said no. Will it raise our scores to pay them anyway?
ok - I am going to list some of the items on our reports and hopefully some nice people on here will have some suggestions
me- first of all there is Collection Serice Center listed twice for an old doctors bill. It is the same CA but different addresses. Can I dispute this? Who do I write a letter to - the CA or the CRA? It says Recent Balance - $282 on each of them.
Next is Diversified Collections for a hospital bill with a recent balance of $155.
Next is M&I Bank for a credit card. Status says: Account Charged off. $459 written off. $459 past due as of Feb 2007.
Next is Target-TNB with a credit card. Status says: Account Charged off. $380 written off. $190 past due as of April 2009.
Credit limit $200
high balance $380
Recent balance $190
NEXT- Verizon Wireless
Status: Account Charged Off
$562 written off. $562 past due as of Aprl 2009
NExt WFNNB Victorias Secret
Status: Account charged off. $391 written off.
Greg - my husband
central credit/penn credit for Allegheny power
Status: collection account $61 past due as of Feb 2009
chase
status: transferred, closed
credit limit/orig amt: $2000
high balance:$2796
recent balance: N/A
creditors statement: Purchased by another lender
commonwealth financial for first usa bank (i think this is for the chase card above)
status: collection account $3196 past due as of Feb 2009
recent balance: $3196 as of 02/2009
collection service center for a doctors office
recent balance:$65
Collection service center for emergency room visit
recent balance: $110
there are two of these but they have two different account numbers and i think they are two different things
midland credit mgmt for verizon wireless
status:collection account $401 past due as of march 2009
portfolio recovery for dominion peoples
status:collection account $311 past due as of Apr 2009
Please dont judge us! we know we have been extremely stupid but are trying to fix it- we just dont know what to do. We just need a lot of help and would be extremely grateful for any help you can give us.
We can afford to pay some of these off but dont want to do it if its not going to help us get a mortgage by november.
They are pretty much all scheduled to fall off between 2012 - 2014.
Thank you anyone who replies!!!!
Hi Amanda, I'm pretty much new to this whole do-it-yourself credit clean up myself, I'll let you know what worked for me, but keep in mind that everyone's situation is different. Before finding this forum, I paid everything off my reports except 2 medicals. My scores per MyFico were TU- 522 and EQ 517 in March. With some GW letters, phone calls to creditors and emails, I was able to get all but two to delete, those being Capital One and HSBC even though they were settled. I paid off 1 of those medicals and my scores have jumped to TU-598 and EQ- 603 at last check at the end of May. My hubby and I are hoping to buy this year as well and our lender is actually using other compensating factors to approve us for our FHA loan. I don't know where you live, but I live in Florida and my lender looks for a clean-up of all 3 CR's, no lates for the past 12 months, DTI, and income besides your credit score. So don't get discouraged, it will take alot of work, but this site has loads of information and helpful people actually willing to help us get it together. Most of them have been where we are and don't mind at all, so ask away!! Good luck!!
