Climbing that ladder to get that Mortgage for my Dream Home

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Determined

Joined: 12 Mar 2009
Determined's page
Posts: 7

290 Magic Points

Subject: Climbing that ladder to get that Mortgage for my Dream Home

Fri Mar 13, 2009 3:18 pm

I currently have 1 charge off for 60 dollars and 4 Derogatory that range from 129 to 380 dollars. Some of these I don't even remember and after reading the forums in here I decided to send out debt validation letters. Going to keep my fingers crossed......

I'm trying to get approved for a FHA Loan, I was told that I need to have 680 score.

Tru-568 2/09 Exp-524 2/09 Eq-557 2/09

Also I have 1 car loan in good standing and 3 Credit Cards which I'm pay off every month. I was maxing my credit card out every month but paying it in full by the due date. I just found out that since I was maxing out the credit card even though I would pay it in full looks like I'm living on credit. So what I'm doing now is trying to pay off 2 credit cards by putting a little down each week and just using 1 credit card for small expenses. I'm really hoping that this will bring my credit score up.

If anyone has any tips on helping me please let me know?

____________________
Thanks in Advance
Determined

fireyone

Joined: 26 Feb 2008
fireyone's page
Posts: 4285

127 Magic Points

Fri Mar 13, 2009 3:55 pm

Looks like you are figuring out sopme of the major things you can do on your own. Never max out credit cards. That is one of the worst things you can do. Always keep them at 33% of the credit limit. This looks alot better. Hopefully you can get the derogatories cleaned up because I believe that is what is holdong back your score. If these places do validate the debt I would look in getting the debt s settled and asking for a Pay for delete, which removes their markings from your credit report upon payment of the debt. Just be sure to get it in writing before paying the debt so you can be sure of their honesy of removeing it.

Determined

Joined: 12 Mar 2009
Determined's page
Posts: 7

290 Magic Points

Fri Mar 13, 2009 4:07 pm

thanks for the advise I'll will make sure to follow these steps..

fireyone

Joined: 26 Feb 2008
fireyone's page
Posts: 4285

127 Magic Points

Fri Mar 13, 2009 4:23 pm

Check back in because others here have some really wonderful advice the give too.

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