Help rebuild/ mortgage scores

[Anonymous]

Hey guys, I recently paid off all my charge offs trying to get my mortgage score up. After the updates it should be 2%-3% utilization. Do we think this is enough to get the Experian closer to 620-640? 

What else can I work on to increase my chances? I have quite a few late payments that are on my report unfortunately as well as a collection that is being deleted. 

[tooleman694]

I was close to your situation back in Jan, I got my util down to 29 percent and that was worth about 60 points on my EX Mortgage score.

[Anonymous]

That would be awesome. I just saw that the collection was deleted and Experian went up to 601 now. 

[SouthJamaica]

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@Anonymous wrote:

Hey guys, I recently paid off all my charge offs trying to get my mortgage score up. After the updates it should be 2%-3% utilization. Do we think this is enough to get the Experian closer to 620-640? 

What else can I work on to increase my chances? I have quite a few late payments that are on my report unfortunately as well as a collection that is being deleted. 

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Well we don't know what's in the rest of your file, but going from 66-69% to 2-3% revolving utilization should give you a big score boost.

[House2021]

Please keep us posted and let us know. I'm doing the same thing, paying all charge offs to get a mortgage, I'll let you know when mine updates, I paid it two weeks ago and am just doing the waiting game now

[Anonymous]

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@Anonymous wrote:

Hey guys, I recently paid off all my charge offs trying to get my mortgage score up. After the updates it should be 2%-3% utilization. Do we think this is enough to get the Experian closer to 620-640? 

What else can I work on to increase my chances? I have quite a few late payments that are on my report unfortunately as well as a collection that is being deleted. 

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@Anonymous How much is the chargeoff that's being paid? GW the lates & implement AZEO. 

[Anonymous]

The charge offs total is $7180 which will leave a balance of $9 on the one credit card. 

[Anonymous]

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@Anonymous wrote:

The charge offs total is $7180 which will leave a balance of $9 on the one credit card. 

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@Anonymous I think you'll have a nice increase. 

[Anonymous]

What was the most recent late?

[Anonymous]

April 2020, trying to get it deleted but not having much luck so far.

Closing wouldn't happens until December the earliest.