uw2008

My husband had a charged off account with cap1... they knew we had moved to a different state, yet they chose to try to file a lawsuit against him in a state we no longer lived in so they could get a default judgement. The only reason I found out was that I was stalking our previous state's court database as I was afraid that was going to happen. We ended up settling with them, for less than the amount they said he owed, but it wasn't too much less. My point is they are scandalous and they WILL sue you. DH's credit did improve after paying them, because once you pay them they stop reporting you every month. Until you settle with them, they will continue to stomp on your credit every month for seven years. If I had it to do again, we would have settled with them sooner just to avoid the headache that ensued, and we were lucky DH did not end up with a judgement.

We had dh's score (which was exactly at 620) take a big dive bc of too many inquiries during the mortgage process. I was TERRIFIED the loan wouldn't go through... but they never pulled again! We went through a brokerage... the bank that did the loan did NOT rerun our credit after the initial pull. We were straight up with our loan officer and he pushed our loan through as fast as he could to ease my mind. Ask your loan officer if they will need to rerun your credit or if everything is good to go... they should be able to fill you in on the bank's process. Hang in there!

I meant to post this a month back, but with moving, painting etc I am just now getting around to it! In mid March we closed on our first home. I have been working on my credit for awhile now and have an "okay" credit score... but DH's had horrible credit. He was in the low 500's (one score was even in the 400's.. yikes!) last year. Dilligently we started working on his credit and finally reached the magic number of 620. Actually, the first time they pulled it he was just under the number... then we got an old 30 day late removed and his score went up to 620. He had several old collections that were UNPAID from old charge offs that were four years old. I thought this would be a deal breaker, but through our mortgage brokerage we were able to get an FHA loan. It was a long journey, with lots of back and forths between us and the sellers and I was very sure on a couple of occasions that we were nevr going to close... but we did! Even with some pesky old collections. So, continue to work and find a mortgage professional that is willing to go the extra mile, and you can do it! We are exstatic about our new house and are now busy paiting, landscaping etc Happy house hunting everyone!

Can someone point me in the right direction as far as all the forms I will need to file to amnd my 2009 tax return? We have closed on our new house and a moved in, so I'm ready to get the ball rolling on this point. There are so many posts on the tax credit, I couldn't seem to find the exact info I needed. Thanks!

We are set to close that day as well! Best of luck!

Okay, of course I get several good reviews for Liberty Mutual and also research them online and see they have great customer service. Wouldn't you know they are NOT writing new policies in Florida, where we are located. Any other suggestions?

Okay, so we are under contract and I need to get moving on getting homeowners insurance. We are in Florida and have less than stellar credit. Do all homeowner's insurance agents use credit scoring in their model? How much more expensive are we likely to be with scores in the 600s? Anyone have a particular agency that puts less weight on credit? Thank you!

Thanks Brian. We did give our paystubs, work history and all of that before the automated. Our LO also had an UW take a look at it as well. I know that as far as the house goes, there are definitely things that could go wrong with the appraisal and home inspection etc, but in my eyes I'd much rather know now and pay the right price than be upset down the road or end up with a "lemon"! I am just hoping that our financing is on solid ground!

SO DH and I got an automated approval via our mortgage broker for an FHA loan. Scores are over 620 now. DH has some unpaid collections from about 4 years ago. One is 3k. Our mortgage broker said this wont be a problem, and we got the automated approval. We have had no late payments or anything in about 2.5 years. Yet, I am still nervous! Usually with an automated approval are we good to go???? HOw much of a chance is there that we'll still somehow be denied?? Thank you!!

Well I'm not really worried about being sued because it's only $90. My fear woul dbe that they would update if they refused our pfd. Yes, we could probably have him added to my parents cc permanently, hoewver I have heard that UWs do not like AUs unless it's a spouse's account.

The only one that I would think of touching is 2 years old... however they have not reported since they originally added it. It's only $90. Should I try to PFD with them?? My fear would be that they might update if we offered pfd and they didn't accept and tank our scores.

My inlaws have offered to gift us about $5k to help with reserves and closing costs if needed when we purchase our first home. DH and I have money for downpayment, prepaid items, leaving a little bit of money for reserve, but the extra money will help if we find a house that would require us to pay closing costs. How will the gift money thing work? Do we bring the money at closing or does it need to be in our account prior? And they would write us a check saying that it was a gift and doesn't need to be repaid, correct? Anything I'm missing?

I know we're only guessing... but anyone have an idea about how much my dh's score would go up by paying off his credit cards? They are very low balances (one was $135 on $2500 limit, paid it off but not yet reported). The other is a Kay's card with about $200 on $1000. We've just paid this one month by month so they would report (bought a cheap watch). We talked to our mortgage broker today and dh's score is 615. Broker said everything else is good to go as long as we can get the extra 5 points. Anyone know if this might do it? I'm afraid to touch anything else (old collections) bc I don't want to stir anything up when we are sooo close to there. Thank you!

From what I've heard it's not retroactive... someone correct me if I'm wrong!

Im assuming they won't do a PFD esp if we don't offer the whole amount? How much should we offer? 30%? Do i address their response to my DV in my letter??