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@Mauveboy wrote:Went up another 3 points. One of the loans I consolidated finally reported it's zero balance
so 13 points so far?
Yup, 13 points so far and the new Dept of Ed./Sallie Mae loan reported too and the score was unchanged
@Mauveboy wrote:
I looked into my report a little more and it looks like the 10 point jump was based on only 1 of my ECMC accounts now reporting a zero balance. The other 2 that were also consolidated at the time are still reporting past due amounts. I filed a dispute on those 2 trade lines with Equifax, but wile they are in dispute my score dropped 7 points. I imagine once they are corrected I'll get those 7 points back plus some. Hopefully it's corrected soon, once Equifax is correct it's mortgage time!
yes! keep me up to date step by step!
im ironically going through the same things all the way down to filing disputes with the credit bureaus due to accounts not updating; contacting the ombudsmen, you name it.
do you have a goal date or month as to when your hoping to apple for a mortgage? i was initially hoping for July but i'm not so sure anymore as thats only 45 days away.
Equifax fixed their report and I got those 7 points back. Right now my Equifax FICO is at 646 and my Transunion FICO is at 644 so they're pretty close. Time to talk to my mortgage broker about what I'm going to need to do to get an FHA loan!
I spoke to a buddy of mine who is a mortgage broker and he says I should be good to go and to start the pre- qualifying. I'm going for a CHFA loan which is a Connecticut version of an FHA loan that allows for 100% financing at between 2.75-3.5 %. He said my EQ FICO of 646 and my Transunion FICO of 644 are more than enough as some banks will go down as far as 580 for this program. I'll have to show no late payments for 12 months, which I already have and possibly a 12 month rental history depending on the bank, which I also have. Consolidating my collections helped tremendously because even though they still have the collection notation on my CR, the last late payment is the date of default which is almost 7 years now. On all 3 CRs the last late payment recorded is 6 years and 5 months ago. He said that it also helps that I have a very low debt to income ratio at about 17%. 36% seems to be about as high as most banks he worked with would go. Unfortunately his company isn't authorized to work on CHFA loans but he's pointing me in the direction of a good bank to work with. The new goal is to be in my home by Halloween!
@Mauveboy wrote:I spoke to a buddy of mine who is a mortgage broker and he says I should be good to go and to start the pre- qualifying. I'm going for a CHFA loan which is a Connecticut version of an FHA loan that allows for 100% financing at between 2.75-3.5 %. He said my EQ FICO of 646 and my Transunion FICO of 644 are more than enough as some banks will go down as far as 580 for this program. I'll have to show no late payments for 12 months, which I already have and possibly a 12 month rental history depending on the bank, which I also have. Consolidating my collections helped tremendously because even though they still have the collection notation on my CR, the last late payment is the date of default which is almost 7 years now. On all 3 CRs the last late payment recorded is 6 years and 5 months ago. He said that it also helps that I have a very low debt to income ratio at about 17%. 36% seems to be about as high as most banks he worked with would go. Unfortunately his company isn't authorized to work on CHFA loans but he's pointing me in the direction of a good bank to work with. The new goal is to be in my home by Halloween!
thats awesome news. good to see your on your way to achieving your goal!