Medical Collections On Credit Report

[Anonymous]

Ok, so I have a HUGE question!  I hope someone can answer!

We have recently sold our home and have a closing date of 6/17/13.  When we got our federal taxes back we paid all things that were showing out on my credit report.  We had a medical judgement, 10 medical collections and 3 credit cards that were in collection.  We were told that once we got that all paid and the companies reported we shoudl be ok to go for financing. 

Well we went to 2 different banks and got turned down.  We need a 620 and are at 593.  So we just need 27 points.  So, I was doing some thinking and I called the collection company that the medical collections were at and she is completley removing them from our credit report.

Can anyone tell me by having those 10 removed from credit report will that give us the 27 points that we need so we can get the mortgage that we want?

Any thoughts would be great.

Thanks!

[Anonymous]

Depending on how old they are I would think you would exceed the 27 points.

[Anonymous]

Thank you!   Here is alittle more information...

2 are from 2007

4 are from 2010

3 are from 2011

1 is from 2012

The collection lady I spoke with said that it should definalty help!  I spoke to the lady at the finance company and she believes it will too.  So, the collection company is reporting them to the 3 major CB's on Wednesday. 

Would it be possible to check with the CB's on Friday to see if they have been processed?  Or speed the process along?

[Anonymous]

They may be updated by Friday.  It won't hurt to try.  It can take up to 90 days sometimes.  One CRA, TU is pretty slow in updating.

The ones from 10 - 12 I would expect a score bump, the one from 07 may not give you that much.  But even if you got 5 points per collection that is 50 points.

[Anonymous]

Thanks! I'm just looking for 27 points! I don't want to b greedy!!!