trying to raise average score by at least 60 points

[cobaltnv]

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@Anonymous wrote:

Make sure you fully understand the details of the first time home buyer tax credit:

http://www.federalhousingtaxcredit.com/2009/faq.php

You need time to properly address your CBR issues. Being under a time restraint will hinder you. It moves control of the issue solidly to the other side of the table.

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This is excellent advice. You must OWN the home by December 1 2009. Around here (Nevada) they are suggesting that you should be finalizing everything by early October. Of course there is a reasonable chance that the tax credit will be extended.

All this being said if your credit is not in shape for a mortgage the $8k credit will largely disappear due to higher interest rates.

Good Luck. 

 

[Anonymous]

yea Im pretty much not planning to buy by Dec 1 now. I have everything set to be paid, but now know the likely hood this will actually hurt my score isnt going to help. i need to settle them for the FHA loan, but they will lower my scores i guess. I plan to pay off everything or to at least 10% but not til the end of october. so i know I have a a plan. Now, not sending information to the credit bureaus.... should i not send them letters of paid debts? Im glad someone said this cuz I literally had 10 envelopes ready to be mailed tomorrow. By thend of October I will have gotten my creedit cards down all but one.. and hoping this will at least be at 50%. so i would have pad a ton down.. im hoping this will offest the old cellections I paid. So what are everyones suggestions? wait to see whent he CA report these accounts paid? when should i see the credit cards being reported with low or zero balances?

[Anonymous]

Keep your fingers crossed for an extention of the tax credit. In the meantime remember multiple requests for PFD (if not already PIF) or GW (if already PIF) are never out of order. Once a month is a nice pace. Keep firing away until they are sick of you. None of this goes to the CRB's!

[Anonymous]

so youre thinking once a month I send a request for deletion of the account to the collection agency? and request payment for deletion to the accounts paid? should i just mail them to the collection agencies?

[Anonymous]

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@Anonymous wrote:
so youre thinking once a month I send a request for deletion of the account to the collection agency? and request payment for deletion to the accounts paid? should i just mail them to the collection agencies?

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Kinda. What you want to do is GW any lates with the OC, GW any paid CA's with the agencies and request PFD for any unpaid CA's with the agency at monthly intervals until the item falls off your CBR's. Don't do anything with the CRB's. If you get a fresh collection letter from a new agency be sure to request DV in the first 30 days. That should do it.