Request my Credit Scores and Reports now?

[Anonymous]

We are looking into relocating within the next few months and are possibly going to be purchasing a home within the next 6-9 months.  My question is:  Should I pull a 3-in-1 report with scores now or should I wait?  We've just paid off a huge amount of debt and were wondering if and when a score/report is compounded or calculated?  Should we wait a month?  Or is it in our best interest to pull it now and if necessary again before applying for any mortgages?

[llecs]

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sbuket wrote:

We are looking into relocating within the next few months and are possibly going to be purchasing a home within the next 6-9 months.  My question is:  Should I pull a 3-in-1 report with scores now or should I wait?  We've just paid off a huge amount of debt and were wondering if and when a score/report is compounded or calculated?  Should we wait a month?  Or is it in our best interest to pull it now and if necessary again before applying for any mortgages?

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I'd pull each myFICO report now. It sometimes takes months of hard work to fix a baddie on a report. I can't tell you how many horror stories I've read of people waiting until the last second to pull only to realize they can't qualify for a mortgage. Or maybe if they do qualify, something bad is on their reports they didn't know about which places them at a higher interest rate (costing them thousands).

IMO, pull each report monthly for both of you between now and then. Bad accounts tend to appear out of the blue during the mortgage process.

Your scores are calculated based on the data in your report at that moment. If you paid down large amounts of debt, with CCs or other loans, it won't report right away. Each lender as a set time each month they report for your account. If you just paid off this debt, you probably won't see the change right away. And if you paid any collection debt, there won't be any positive score change at all, as a FYI.

[Anonymous]

Thanks.  I pulled my EQ report only just today and some of my accounts are updated and some aren't.  It's funny how one account can be 2-3 months behind and the others are right on top of it!  Goodness gracious, thank my lucky stars that there's not really anything BAD.  Although one of my banks listed the "ACCOUNT OWNER" as "TERMINATED"; even though it's a joint account...should I be worried?  That just sounds weird.  Much appreciated for the advice though.

[llecs]

I haven't hear of that. So as long as there are no comments or statuses (stati?) that say "settled", "charged-off", or "collections", or anything bad along those lines, that TL will be OK.

[Anonymous]

I would like to know why when the lender pulled my report yesturday she said my scores were ok, on myfico.com my scores were eq:579 and TU:597 Low, I"v been working like crazy to get them up this year 07 was a bad year for me.  She ran it and she said it could go up or down just depends but she knew that myfico.com uses a older system in scoring.  They have a new system not to sure on that.  But my scores came back at Eq:602 and TU:640 could not believe it.  Experian.com had me at 640 and she said I was 620 with Ex.   Yea over 600 now its time to get into the 700's. 

I just wanted to say that myfico does have accurate scoring if the lender uses the same scoring as myfico.com but more and more lenders are using the new method.  So just be aware that your score will change !!! Don't be surprised when the lender pulls it and your score is diff. then myfico.com.  It can go up or down.  She has seen scores go up at much as 30 points and down as much as 30 points hit or miss with some people. 

Did this happen with any one out there when the lender pulled your report. I read on here so many poeple saying there score dropped.  Scary ??