cancel
Showing results for 
Search instead for 
Did you mean: 

Help Increasing Mortgage Score

Auto Loans for ANY Credit Situation. Immediate Response.
Advertiser disclosure
Established Member

Help Increasing Mortgage Score

Hello Everyone: I appreciate all the information I have been able to obtain in the forum. Thanks!!! I look forward to being able to share more success' and knowledge with on others on how to improve and grow! 

 

I am needing some additional expert advice from those of you who have conquered or can advise on a few tips on how to get this mortgage score of mine up. 

 

I have 3 accounts in collection: 

* Midland $910 ( also being reported by Credit One *Thanks to you guys; Goodwill sent and accepted should come off this month)

* Midland $1,064 ( due to fall off in July)  also being reported by Care Credit

*National Credit System $2,828

****** My lender when reviewing my reports in Oct said not to worry about those 3 accounts above******

 

I have a settled/charged off Capital One Auto ( I sent them a goodwill for removal since its paid)

No longer showing balance but still Negative item don't understand this one.

 

Late Pays Charges w/Conns & Local Credit Union: Conn's won't budge on any settlements and I am waiting to hear back from Credit Union

* Conns $ 1420

*Conns $ 4262

*CU Revolving $740 ( 1 reports show 120+ late other 2 shows charged off)

*CU Loan $392 ( Charge Off) 

* Finance Company $1,220

 

***************

Current Accounts all in good standing no late

Navy Federal $1000 - $0 bal

Citi $1000 -$6.00 bal

Cap One $850 - $0 Bal

Fingerhut $600 - $0 bal

Kohls/Capone $300 - $0 bal

Credit Union Credit Card $1000 - $0 bal

Navy Fed (Auth User: Newly added this month) $10,900 - $0 bal

 

Auto Loan Credit Union $29,400

Student Loans $77K

Auto Loan (Co-signer) $14K

Personal Loan $1200

 

SCORES as of Feb 2019 FICO8/Mortg:

TU: 634/568

Exp: 617/600

Equ: 617/603

 

Short Term: Need 621+ on Mortgage

Goal 700+ across the board

 

Thanks in advance for all assistance, can someone also message me and tell me how to add the pics/scores to my signature or end of messages.

Message 1 of 14
13 REPLIES 13
Contributor

Re: Help Increasing Mortgage Score


@InTheFOG wrote:

Hello Everyone: I appreciate all the information I have been able to obtain in the forum. Thanks!!! I look forward to being able to share more success' and knowledge with on others on how to improve and grow! 

 

I am needing some additional expert advice from those of you who have conquered or can advise on a few tips on how to get this mortgage score of mine up. 

 

I have 3 accounts in collection: 

* Midland $910 ( also being reported by Credit One *Thanks to you guys; Goodwill sent and accepted should come off this month)

* Midland $1,064 ( due to fall off in July)  also being reported by Care Credit

*National Credit System $2,828

****** My lender when reviewing my reports in Oct said not to worry about those 3 accounts above******

 

I have a settled/charged off Capital One Auto ( I sent them a goodwill for removal since its paid)

No longer showing balance but still Negative item don't understand this one.

 

Late Pays Charges w/Conns & Local Credit Union: Conn's won't budge on any settlements and I am waiting to hear back from Credit Union

* Conns $ 1420

*Conns $ 4262

*CU Revolving $740 ( 1 reports show 120+ late other 2 shows charged off)

*CU Loan $392 ( Charge Off) 

* Finance Company $1,220

 

***************

Current Accounts all in good standing no late

Navy Federal $1000 - $0 bal

Citi $1000 -$6.00 bal

Cap One $850 - $0 Bal

Fingerhut $600 - $0 bal

Kohls/Capone $300 - $0 bal

Credit Union Credit Card $1000 - $0 bal

Navy Fed (Auth User: Newly added this month) $10,900 - $0 bal

 

Auto Loan Credit Union $29,400

Student Loans $77K

Auto Loan (Co-signer) $14K

Personal Loan $1200

 

SCORES as of Feb 2019 FICO8/Mortg:

TU: 634/568

Exp: 617/600

Equ: 617/603

 

Short Term: Need 621+ on Mortgage

Goal 700+ across the board

 

Thanks in advance for all assistance, can someone also message me and tell me how to add the pics/scores to my signature or end of messages.


Sorry I can’t provide info as I’m trying to increase my montage score also. Mine is 613 now up 16 pts. Not sure how though I’ve paid a collection that hasn’t dropped of just yet but I’ve been making all on time payments and keeping my ultilation low. I’d suggest if you can get a few PFD on some of your collections that’ll help. 

Message 2 of 14
Super Contributor

Re: Help Increasing Mortgage Score


@InTheFOG wrote:

Hello Everyone: I appreciate all the information I have been able to obtain in the forum. Thanks!!! I look forward to being able to share more success' and knowledge with on others on how to improve and grow! 

 

I am needing some additional expert advice from those of you who have conquered or can advise on a few tips on how to get this mortgage score of mine up. 

 

I have 3 accounts in collection: 

* Midland $910 ( also being reported by Credit One *Thanks to you guys; Goodwill sent and accepted should come off this month)

* Midland $1,064 ( due to fall off in July)  also being reported by Care Credit

*National Credit System $2,828

****** My lender when reviewing my reports in Oct said not to worry about those 3 accounts above******

 

I have a settled/charged off Capital One Auto ( I sent them a goodwill for removal since its paid)

No longer showing balance but still Negative item don't understand this one.

 

Late Pays Charges w/Conns & Local Credit Union: Conn's won't budge on any settlements and I am waiting to hear back from Credit Union

* Conns $ 1420

*Conns $ 4262

*CU Revolving $740 ( 1 reports show 120+ late other 2 shows charged off)

*CU Loan $392 ( Charge Off) 

* Finance Company $1,220

 

***************

Current Accounts all in good standing no late

Navy Federal $1000 - $0 bal

Citi $1000 -$6.00 bal

Cap One $850 - $0 Bal

Fingerhut $600 - $0 bal

Kohls/Capone $300 - $0 bal

Credit Union Credit Card $1000 - $0 bal

Navy Fed (Auth User: Newly added this month) $10,900 - $0 bal

 

Auto Loan Credit Union $29,400

Student Loans $77K

Auto Loan (Co-signer) $14K

Personal Loan $1200

 

SCORES as of Feb 2019 FICO8/Mortg:

TU: 634/568

Exp: 617/600

Equ: 617/603

 

Short Term: Need 621+ on Mortgage

Goal 700+ across the board

 

Thanks in advance for all assistance, can someone also message me and tell me how to add the pics/scores to my signature or end of messages.


I don't have magic answers for you. Here's how to improve your mortgage scores. I understand that you may not be able to do it

 

1. Pay off all the debts whether they're going to fall off or not.

2. A chargeoff is negative. It means that there is a balance which was written off. Here again pay them what you owe them.

3. Don't make any more "settlements". Just pay what you owe. And try to negotiate their removal of negative credit report.

4. Pay down your loans to 9% in the aggregate.

5. Continue having all but one revolver reporting at zero.

 

It's going to take time. The passage of time is your friend.

 


Total revolving limits 720500 (594000 reporting) 10/2/19 FICO 8 scores: EQ 744 TU 782 EX 746
Message 3 of 14
Contributor

Re: Help Increasing Mortgage Score


@SouthJamaica wrote:

@InTheFOG wrote:

Hello Everyone: I appreciate all the information I have been able to obtain in the forum. Thanks!!! I look forward to being able to share more success' and knowledge with on others on how to improve and grow! 

 

I am needing some additional expert advice from those of you who have conquered or can advise on a few tips on how to get this mortgage score of mine up. 

 

I have 3 accounts in collection: 

* Midland $910 ( also being reported by Credit One *Thanks to you guys; Goodwill sent and accepted should come off this month)

* Midland $1,064 ( due to fall off in July)  also being reported by Care Credit

*National Credit System $2,828

****** My lender when reviewing my reports in Oct said not to worry about those 3 accounts above******

 

I have a settled/charged off Capital One Auto ( I sent them a goodwill for removal since its paid)

No longer showing balance but still Negative item don't understand this one.

 

Late Pays Charges w/Conns & Local Credit Union: Conn's won't budge on any settlements and I am waiting to hear back from Credit Union

* Conns $ 1420

*Conns $ 4262

*CU Revolving $740 ( 1 reports show 120+ late other 2 shows charged off)

*CU Loan $392 ( Charge Off) 

* Finance Company $1,220

 

***************

Current Accounts all in good standing no late

Navy Federal $1000 - $0 bal

Citi $1000 -$6.00 bal

Cap One $850 - $0 Bal

Fingerhut $600 - $0 bal

Kohls/Capone $300 - $0 bal

Credit Union Credit Card $1000 - $0 bal

Navy Fed (Auth User: Newly added this month) $10,900 - $0 bal

 

Auto Loan Credit Union $29,400

Student Loans $77K

Auto Loan (Co-signer) $14K

Personal Loan $1200

 

SCORES as of Feb 2019 FICO8/Mortg:

TU: 634/568

Exp: 617/600

Equ: 617/603

 

Short Term: Need 621+ on Mortgage

Goal 700+ across the board

 

Thanks in advance for all assistance, can someone also message me and tell me how to add the pics/scores to my signature or end of messages.


I don't have magic answers for you. Here's how to improve your mortgage scores. I understand that you may not be able to do it

 

1. Pay off all the debts whether they're going to fall off or not.

2. A chargeoff is negative. It means that there is a balance which was written off. Here again pay them what you owe them.

3. Don't make any more "settlements". Just pay what you owe. And try to negotiate their removal of negative credit report.

4. Pay down your loans to 9% in the aggregate.

5. Continue having all but one revolver reporting at zero.

 

It's going to take time. The passage of time is your friend.

 


Great info you provided the OP. I have a questions kind of related. For collections are settlements bad? I’ve paid off 1 collection on full and will do another. But I have one that’s 988 that o was thinking about doing a settlement on. 

Message 4 of 14
Super Contributor

Re: Help Increasing Mortgage Score


@Wizard10 wrote:

@SouthJamaica wrote:

@InTheFOG wrote:

Hello Everyone: I appreciate all the information I have been able to obtain in the forum. Thanks!!! I look forward to being able to share more success' and knowledge with on others on how to improve and grow! 

 

I am needing some additional expert advice from those of you who have conquered or can advise on a few tips on how to get this mortgage score of mine up. 

 

I have 3 accounts in collection: 

* Midland $910 ( also being reported by Credit One *Thanks to you guys; Goodwill sent and accepted should come off this month)

* Midland $1,064 ( due to fall off in July)  also being reported by Care Credit

*National Credit System $2,828

****** My lender when reviewing my reports in Oct said not to worry about those 3 accounts above******

 

I have a settled/charged off Capital One Auto ( I sent them a goodwill for removal since its paid)

No longer showing balance but still Negative item don't understand this one.

 

Late Pays Charges w/Conns & Local Credit Union: Conn's won't budge on any settlements and I am waiting to hear back from Credit Union

* Conns $ 1420

*Conns $ 4262

*CU Revolving $740 ( 1 reports show 120+ late other 2 shows charged off)

*CU Loan $392 ( Charge Off) 

* Finance Company $1,220

 

***************

Current Accounts all in good standing no late

Navy Federal $1000 - $0 bal

Citi $1000 -$6.00 bal

Cap One $850 - $0 Bal

Fingerhut $600 - $0 bal

Kohls/Capone $300 - $0 bal

Credit Union Credit Card $1000 - $0 bal

Navy Fed (Auth User: Newly added this month) $10,900 - $0 bal

 

Auto Loan Credit Union $29,400

Student Loans $77K

Auto Loan (Co-signer) $14K

Personal Loan $1200

 

SCORES as of Feb 2019 FICO8/Mortg:

TU: 634/568

Exp: 617/600

Equ: 617/603

 

Short Term: Need 621+ on Mortgage

Goal 700+ across the board

 

Thanks in advance for all assistance, can someone also message me and tell me how to add the pics/scores to my signature or end of messages.


I don't have magic answers for you. Here's how to improve your mortgage scores. I understand that you may not be able to do it

 

1. Pay off all the debts whether they're going to fall off or not.

2. A chargeoff is negative. It means that there is a balance which was written off. Here again pay them what you owe them.

3. Don't make any more "settlements". Just pay what you owe. And try to negotiate their removal of negative credit report.

4. Pay down your loans to 9% in the aggregate.

5. Continue having all but one revolver reporting at zero.

 

It's going to take time. The passage of time is your friend.

 


Great info you provided the OP. I have a questions kind of related. For collections are settlements bad? I’ve paid off 1 collection on full and will do another. But I have one that’s 988 that o was thinking about doing a settlement on. 


Yes, settlements are reported in different ways, but usually in a negative way. Sometimes as a chargeoff.


Total revolving limits 720500 (594000 reporting) 10/2/19 FICO 8 scores: EQ 744 TU 782 EX 746
Message 5 of 14
Contributor

Re: Help Increasing Mortgage Score


@SouthJamaica wrote:

@Wizard10 wrote:

@SouthJamaica wrote:

@InTheFOG wrote:

Hello Everyone: I appreciate all the information I have been able to obtain in the forum. Thanks!!! I look forward to being able to share more success' and knowledge with on others on how to improve and grow! 

 

I am needing some additional expert advice from those of you who have conquered or can advise on a few tips on how to get this mortgage score of mine up. 

 

I have 3 accounts in collection: 

* Midland $910 ( also being reported by Credit One *Thanks to you guys; Goodwill sent and accepted should come off this month)

* Midland $1,064 ( due to fall off in July)  also being reported by Care Credit

*National Credit System $2,828

****** My lender when reviewing my reports in Oct said not to worry about those 3 accounts above******

 

I have a settled/charged off Capital One Auto ( I sent them a goodwill for removal since its paid)

No longer showing balance but still Negative item don't understand this one.

 

Late Pays Charges w/Conns & Local Credit Union: Conn's won't budge on any settlements and I am waiting to hear back from Credit Union

* Conns $ 1420

*Conns $ 4262

*CU Revolving $740 ( 1 reports show 120+ late other 2 shows charged off)

*CU Loan $392 ( Charge Off) 

* Finance Company $1,220

 

***************

Current Accounts all in good standing no late

Navy Federal $1000 - $0 bal

Citi $1000 -$6.00 bal

Cap One $850 - $0 Bal

Fingerhut $600 - $0 bal

Kohls/Capone $300 - $0 bal

Credit Union Credit Card $1000 - $0 bal

Navy Fed (Auth User: Newly added this month) $10,900 - $0 bal

 

Auto Loan Credit Union $29,400

Student Loans $77K

Auto Loan (Co-signer) $14K

Personal Loan $1200

 

SCORES as of Feb 2019 FICO8/Mortg:

TU: 634/568

Exp: 617/600

Equ: 617/603

 

Short Term: Need 621+ on Mortgage

Goal 700+ across the board

 

Thanks in advance for all assistance, can someone also message me and tell me how to add the pics/scores to my signature or end of messages.


I don't have magic answers for you. Here's how to improve your mortgage scores. I understand that you may not be able to do it

 

1. Pay off all the debts whether they're going to fall off or not.

2. A chargeoff is negative. It means that there is a balance which was written off. Here again pay them what you owe them.

3. Don't make any more "settlements". Just pay what you owe. And try to negotiate their removal of negative credit report.

4. Pay down your loans to 9% in the aggregate.

5. Continue having all but one revolver reporting at zero.

 

It's going to take time. The passage of time is your friend.

 


Great info you provided the OP. I have a questions kind of related. For collections are settlements bad? I’ve paid off 1 collection on full and will do another. But I have one that’s 988 that o was thinking about doing a settlement on. 


Yes, settlements are reported in different ways, but usually in a negative way. Sometimes as a chargeoff.


Does this apply even if they send a settlement offer that’s less than full amount?

Message 6 of 14
Super Contributor

Re: Help Increasing Mortgage Score


@Wizard10 wrote:

@SouthJamaica wrote:

@Wizard10 wrote:

@SouthJamaica wrote:

@InTheFOG wrote:

Hello Everyone: I appreciate all the information I have been able to obtain in the forum. Thanks!!! I look forward to being able to share more success' and knowledge with on others on how to improve and grow! 

 

I am needing some additional expert advice from those of you who have conquered or can advise on a few tips on how to get this mortgage score of mine up. 

 

I have 3 accounts in collection: 

* Midland $910 ( also being reported by Credit One *Thanks to you guys; Goodwill sent and accepted should come off this month)

* Midland $1,064 ( due to fall off in July)  also being reported by Care Credit

*National Credit System $2,828

****** My lender when reviewing my reports in Oct said not to worry about those 3 accounts above******

 

I have a settled/charged off Capital One Auto ( I sent them a goodwill for removal since its paid)

No longer showing balance but still Negative item don't understand this one.

 

Late Pays Charges w/Conns & Local Credit Union: Conn's won't budge on any settlements and I am waiting to hear back from Credit Union

* Conns $ 1420

*Conns $ 4262

*CU Revolving $740 ( 1 reports show 120+ late other 2 shows charged off)

*CU Loan $392 ( Charge Off) 

* Finance Company $1,220

 

***************

Current Accounts all in good standing no late

Navy Federal $1000 - $0 bal

Citi $1000 -$6.00 bal

Cap One $850 - $0 Bal

Fingerhut $600 - $0 bal

Kohls/Capone $300 - $0 bal

Credit Union Credit Card $1000 - $0 bal

Navy Fed (Auth User: Newly added this month) $10,900 - $0 bal

 

Auto Loan Credit Union $29,400

Student Loans $77K

Auto Loan (Co-signer) $14K

Personal Loan $1200

 

SCORES as of Feb 2019 FICO8/Mortg:

TU: 634/568

Exp: 617/600

Equ: 617/603

 

Short Term: Need 621+ on Mortgage

Goal 700+ across the board

 

Thanks in advance for all assistance, can someone also message me and tell me how to add the pics/scores to my signature or end of messages.


I don't have magic answers for you. Here's how to improve your mortgage scores. I understand that you may not be able to do it

 

1. Pay off all the debts whether they're going to fall off or not.

2. A chargeoff is negative. It means that there is a balance which was written off. Here again pay them what you owe them.

3. Don't make any more "settlements". Just pay what you owe. And try to negotiate their removal of negative credit report.

4. Pay down your loans to 9% in the aggregate.

5. Continue having all but one revolver reporting at zero.

 

It's going to take time. The passage of time is your friend.

 


Great info you provided the OP. I have a questions kind of related. For collections are settlements bad? I’ve paid off 1 collection on full and will do another. But I have one that’s 988 that o was thinking about doing a settlement on. 


Yes, settlements are reported in different ways, but usually in a negative way. Sometimes as a chargeoff.


Does this apply even if they send a settlement offer that’s less than full amount?


Of course.


Total revolving limits 720500 (594000 reporting) 10/2/19 FICO 8 scores: EQ 744 TU 782 EX 746
Message 7 of 14
Valued Contributor

Re: Help Increasing Mortgage Score

I settled two accounts with the same collection agency (NCA) and they both report paid in full.

See if you can work with the OC to PFD, it may give you leverage with the CA if both are reporting?

I noticed that my mortgage scores went up when I had more accounts reporting at zero. 

I saw a 10+ pt jump when I went from 11/12 to 7/12 with balances (1 account closed after I PIF). 

Hoping for another boost when I get to 5/12 (under 50%) reporting with balances.  

012019 Fico8/Mortgage Score:
Current Fico8/Mortgage Score:
MyGoal Fico8/Mortgage Score:
Take the myFICO Fitness Challenge


Message 8 of 14
Established Member

Re: Help Increasing Mortgage Score


@newmomnewme wrote:

I settled two accounts with the same collection agency (NCA) and they both report paid in full.

See if you can work with the OC to PFD, it may give you leverage with the CA if both are reporting?

I noticed that my mortgage scores went up when I had more accounts reporting at zero. 

I saw a 10+ pt jump when I went from 11/12 to 7/12 with balances (1 account closed after I PIF). 

Hoping for another boost when I get to 5/12 (under 50%) reporting with balances.  


Hi @newmomnewme are you saying paying the charged off accounts to $0.00 will still result in a mortgage score increase? I thought the negative history on them would keep my score low regardless if I paid them. My charge offs are with the OC's and they are not budging with PFD. They are all closed and accounts already. I was subscribed with another account that had a great simulator but the scores were not FICO and it was driving me insane to only be paying for that simulator because the scores were way off but the simulator would let you know the difference between having account deleted, paid off with certain status like (charge off vs 120+ late), i may sign back up for a few months to help figure out best way to tackle these accounts effectively.

Thanks for your information its truly helpful.

Message 9 of 14
Established Member

Re: Help Increasing Mortgage Score


@SouthJamaica wrote:

@InTheFOG wrote:

Hello Everyone: I appreciate all the information I have been able to obtain in the forum. Thanks!!! I look forward to being able to share more success' and knowledge with on others on how to improve and grow! 

 

I am needing some additional expert advice from those of you who have conquered or can advise on a few tips on how to get this mortgage score of mine up. 

 

I have 3 accounts in collection: 

* Midland $910 ( also being reported by Credit One *Thanks to you guys; Goodwill sent and accepted should come off this month)

* Midland $1,064 ( due to fall off in July)  also being reported by Care Credit

*National Credit System $2,828

****** My lender when reviewing my reports in Oct said not to worry about those 3 accounts above******

 

I have a settled/charged off Capital One Auto ( I sent them a goodwill for removal since its paid)

No longer showing balance but still Negative item don't understand this one.

 

Late Pays Charges w/Conns & Local Credit Union: Conn's won't budge on any settlements and I am waiting to hear back from Credit Union

* Conns $ 1420

*Conns $ 4262

*CU Revolving $740 ( 1 reports show 120+ late other 2 shows charged off)

*CU Loan $392 ( Charge Off) 

* Finance Company $1,220

 

***************

Current Accounts all in good standing no late

Navy Federal $1000 - $0 bal

Citi $1000 -$6.00 bal

Cap One $850 - $0 Bal

Fingerhut $600 - $0 bal

Kohls/Capone $300 - $0 bal

Credit Union Credit Card $1000 - $0 bal

Navy Fed (Auth User: Newly added this month) $10,900 - $0 bal

 

Auto Loan Credit Union $29,400

Student Loans $77K

Auto Loan (Co-signer) $14K

Personal Loan $1200

 

SCORES as of Feb 2019 FICO8/Mortg:

TU: 634/568

Exp: 617/600

Equ: 617/603

 

Short Term: Need 621+ on Mortgage

Goal 700+ across the board

 

Thanks in advance for all assistance, can someone also message me and tell me how to add the pics/scores to my signature or end of messages.


I don't have magic answers for you. Here's how to improve your mortgage scores. I understand that you may not be able to do it

 

1. Pay off all the debts whether they're going to fall off or not.

2. A chargeoff is negative. It means that there is a balance which was written off. Here again pay them what you owe them.

3. Don't make any more "settlements". Just pay what you owe. And try to negotiate their removal of negative credit report.

4. Pay down your loans to 9% in the aggregate.

5. Continue having all but one revolver reporting at zero.

 

It's going to take time. The passage of time is your friend.

 


 @southjamaica Thank you greatly for this, I am willing to pay off the charged off accounts except for the Conns because I no longer have the merchandise, they were destroyed in the storm and with so much going on and not being clear minded I just placed a phone call spoke with someone (who probably was a pass through worker without a clue) *ugh* and now they are saying they don't have a claim on file, which I don't know what the process was at that time so I can't say if it was or was not filed I know I reported the flood heck they could check the news or look on the map and see where I lived at the time and know what occured.

 

The other 3 accounts ASI (2) and World Finance I will try to get them resolved ASAP.  The lender said not to worry about Midland and NCS so I'll take my time with those or allow them to fall off.  I hope the 2 accounts can help me if not I will be forced to pay Conn's and it will hurt me some bad but I will do what I need to its important. I will follow up with Capital One Leadership on my goodwill request I hope they delete since it was settled 2 years ago.

 

Again much thanks for the great information!! No settlements just pay. On it!  Live and we learn!

Message 10 of 14
Advertiser Disclosure: The offers that appear on this site are from third party advertisers from whom FICO receives compensation.