@Anonymous wrote:
On both of our reports is the Ch. 13 bankruptcy , filed Aug 2019. It's a 5 year plan.
At our lender they can do the loan for us and close with fha manual underwriting 660 mid score for both.
On her credit profile is AU from my 700 CL credit one which is a $7 (1%). She also has 2 secured open sky's at $200 each, one opened in February and one this September recommended by mortgage guy. Their current balance is $0 on reports. Using the AZEO method here is her current Fido mortgage scores:
EX 657
EQ 649
TU 606
Her open sky's report again this month on November 16th.
Our mortgage guy with 28 years experience is suggesting to put a $4 balance on one of her open sky's for 1% Utl. He is thinking this may get her to 660, because the system will separate the AU as 1% utl and AZEO method for her open sky's?????
We need to get 3 points on her EX and 11 on her EQ. The AZEO did not move her EQ mortgage at all from the previous month reporting all 0 including AU.
My scores are :
EX 670
EQ 646
TU 634
The surge credit card is reporting $143 with 750 credit limit. I got this card in September and the credit one back in February.
Currently I have it paid to 0 to report this Friday the 13th for AZEO in hopes I get my EQ to 660 with the credit one at $7.
On a side note, her aunt added Both of us as AU on a 30k GTE Financial credit union card (out of Tampa FL). This card has excellent10 year paying history and originally opened in 2010. The due date is the 17th, which means they will probably report to credit bureaus on the 20th. I do not know what the balance is but they are conservative with their credit.
I'd imagine that it would show up on our credit reports sometime betweeen 21st and 23rd of this month.
I asked our mortgage guy about this last month and he said most of the time it's ok, but sometimes he says the underwriter may request it be removed if you can't prove 3 months of verified payment history from us as AU's.
He told us it's best to get 660 mid scores on our own before her aunts AU hits our reports just in case.
We are trying to get to 660 mid score before end of month so we can do fast track closing
@Anonymous listen to me. Regardless of what's your 28 year mortgage guy said, if you put a balance on that open sky she's going to have two accounts with a balance and she's going to see her mortgage scores go down. That is unless you zero out the one she's an AU on which is going to hurt your score, unless your surge happens to be a national bankcard.
I have no idea what a surge is, if it's a national bankcard you could keep a small balance on it and then she could have a small balance on the open sky but then you would have to zero out your other card that she is an authorized user on for both of you.
She may get an award December 1 for the age of the youngest account reaching three months, I don't know it depends on the rest of her profile.
that's great she added y'all to that account, but if it's got anything other than a zero balance, it's going to lower your mortgage scores because you're going to have another account with a balance, unless you zero out your capital one also and leave her card as the only one with the balance for both of you.
you can only have one card with a balance on the mortgage scores for optimal Scoring. it doesn't know the difference between a primary and an authorized user card for these purposes.
now you got to decide what you're gonna do and who's advice you're gonna follow. But I'd sure love for you to report back and I hope you make the right decision and I hope that your scores are able to reach the right levels! Good luck!
