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    Rebuilding my credit of course!
  1. My situation is completely different than yours - but we went through pure hell trying to get a traditional mortgage. The first time, we thought everything was great and at the end, I was hysterical and so upset when they told us our income did not qualify because of being self employed and write offs. We tried again for a house that was half the price and found that we were going through hell again - not to mention extremely high closing costs. We were very lucky and searched until we found a FSBO that offered owner financing. The rate was 9% 15 year loan (fixed) but we had virtually no closing costs. We saved 10K off the bat. I'm not so concerned about the rate as it is a tax deduction. To me it was a godsend as opposed to dealing with the horrible state of affairs in getting mortgages these days. When you look at what you end up putting down sometimes, it really makes it easier to justify an owner financing property. Good luck to you all. Home ownership is wonderful!
  2. Not sure if it is the holiday spirit or if I've just been a member for the right number of months but I tried the increase button on a number of accounts and got an increase on every one! I've tried this in the past a number of times without success so I wanted to let everyone know that I think that they may feel more CLI happy right before the holidays. I have tried the button numerous times in the past with no success. Been a member since around February. Examples: Express: $350 - $750 One Stop Plus- $500 to $900 Ann Taylor - $1000 to $1400 Victorias Secret- $500- $900 I use these cards whenever I shop at these stores and have nothing but good things to say about the cards. Actually, although they rest in drawers, I am very thankful for each and every one. I was in the initial stages of rebuilding credit and got them through the shopping cart trick. They helped me get much better cards and for that, I think they are awesome! Thanks Comenity! BTW, Each request was a soft pull.
  3. "Agreed. Did you tell midland you were going for a mortgage?" No- I did not tell them I was going for a mortgage. I've sent out dispute letters, validation letters, etc. for a few months now. I went the full course with letters to no avail.
  4. Thanks for all your advice. I'm willing to PFD- but have heard they won't budge. And, I'm not sure if the broker is as smart as she would like to think. I don't think she believes that paying an old collection can lower his score. I've also wondered about the 680 thing. I know you get to one level once you get past 680, but it seems awfully high considering others that get approved for other loans below that.
  5. My husband and I are attempting to get a mortgage after being turned down by Navy Federal. We are now going through a broker. She has told us that his middle score needs to be 680 to go through Freddie Mac. He was at 672 when she pulled our credit a couple of weeks ago. The inquiry pulled it down to 668 since that time. I would just like everyones advice on which things I can do to raise his score. He has 5 inquires (two are from the mortgage inquiries). It's revolving is 4%. I think the total balance on credit cards is around $1200. Should we pay this completely off or no? He has three open credit cards. (Two are joint with me- 25K and 3500K. ) He has one Credit One for a lousy $400 that was opened earlier this year. Should we call and ask for a CLI on that card? Should I try and add him on as an authorized user on another one of my cards or would that hurt his score. His average age is 6 years 11 months. He was an unpaid collection of $1300 with midland - DOFD was 8/2009. We have attempted to deal with them but as many of you know, they are the worst. The broker thinks we should pay it but I'm not sure if she knows what she is talking about. I fear that it will lower our score. Should we pay this? I know they are known for not doing a PFD. We were thinking that we would take some time and work on everything but our lease was up recently and to top it off, the house we are renting just got a water leak complete with mold so our hand is really being forced. Any help is much appreciated.
  6. I'm asking myself the same thing. They have had my tax documents for nearly 2 weeks. I got the appraisal and the title docs the same day I got the denial. I'm incredibly depressed. They don't add back any itemized items from your taxes except depreciation. I thought I could breathe easier when the appraisal came back - but not. I guess they don't really look at the other things until much later. My LO was super and so nice through this whole process. I know she felt horrible when she had to call and tell me. Good luck to the rest of you.
  7. The appraisal came back today - over the price. We were so happy. Later the same day, we got a call that we had too many write offs in 2011. I guess if you are self employed and have a great accountant - you are out of luck. Even though we have paid over double (amount of mortgage), we are out of luck. Very sad day.
  8. Thanks for the replies. I know every loan is different. On a good note, I got the appraisal back just a few minutes ago. It came in over so that is one less thing to worry about. I just can't figure out if I am already in underwriting or if I will be now.
  9. Hello to everyone. I’m going through the process of buying a home. I did a pre-qualification with Navy Federal back in July. We really couldn’t find anything we were that interested in and wondered if we should wait until our credit is a little better. We’ve been rebuilding over the past year and have really crossed some hurdles. As it turned out, we found a house a couple of weeks ago. We made an offer and it was accepted. So, we did an application over the phone with NFCU. By the way, they have the absolute best people working for them. I spent over an hour chatting with the girl taking my application. She was so helpful and inspiring! Next, I was contacted by the LO with an email asking for some info on employment (we are self employed), and an explanation letter regarding a couple of charge offs on my husbands report. They also wanted an explanation letter for that as well as inquiries in the past 120 days. My middle number was 695 but my husband’s was 658. I didn’t realize that they base it on the lowest score. So I sent everything to her and waited on pins and needles. I finally called her on a Friday just before they closed – (about 3 days later) and she told me we were approved! I was beyond happy. She gave me a long list of the things she needed (taxes, rent contact information for the past 2 years, bank statements. I got nearly everything ready over the weekend and started sending on Monday. Later that week, I was contacted by a processor, who asked for more information – 1099s , explanations for every address on both our credit reports and a few other things. I got all of those together as quickly as possible and sent them to her. Now comes the waiting game and let me say that it is harder than waiting for an overdue baby to be born. I literally can’t sleep. I check my email a few hundred times a day and find it nearly impossible to concentrate on work. I did hear from my realtor that the appraiser came out this weekend but I have heard nothing about it. Does anyone know how long the appraisal process takes? How long before the credit union gets the info before I hear? I have a million questions. I also keep wondering if there is any special meaning to the appraisal being ordered. In my heart of hearts, I really want to believe it is something positive relating to the loan – like they feel it might turn out okay??? Hopeful! Or is it just another step in the process. I have no idea where I am at this point and don’t want to call and bug them. I must say, they have the nicest – most professional people working for them. My loan officer was so incredibly nice and helpful. I feel as if I’ve made new friends – which is a far cry from what I’m sure the old stuffy banks would feel like. I’m just really looking for any info anyone can give me on the process – especially if you have dealt with NFCU doing a mortgage. I have nothing but wonderful things to say about them in regards to checking, savings, credit cards and LOC. Until I hear something, I am in the process of reading every single post on every board I can find about the mortgage process and everyone’s experience. This is a great board. I’ve taken my scores and reports to places I could not have imagined a year ago. Please keep your fingers crossed for me that this will be my next giant step into home ownership! Thank you! P.S. Would love to hear your thoughts and where you think I am now. We are scheduled to close on October 14 but I would love to do it sooner. We have a lease that is up at the end of this month and we really need to let our landlord know by the end of this month. I’m hoping to get some sort of answer by then.
  10. ta1967

    Discover it

    Cape Coral
  11. I decided to try the love button a bit over a month ago- from $500 to $5K and it was instant. About a week later, I was so high again on how wonderful the feeling was, I went for 10K and it was instant. Both were soft pulls. About a week later, I applied for the line of credit. It took a minute or two but was pretty much instant. I got a hard pull on that one. Totally worth it. A few days later, I decided to go for the auto loan I've been thinking about. I believe they used the same credit pull (I think they only do one a month) and got the auto loan. They have been amazing every step of the way. The auto loan was the best experience ever. I applied on a Thursday afternoon and got the check via Fed Ex the next day just after lunch. I loved not having to deal with the dealerships financing programs and bs. I did and still have a situation to deal with whereby the dealership pulled my credit twice even though I specifically told them I have financing. I will deal with that later. But cheers to Navy. They are so incredibly helpful with every step. It's so awesome to know you can finally retire so many cards (that I was originally so excited to get) to the sock drawer. My advice is- no matter how small you start out with Navy- start out. They are amazing. I am looking to do a mortgage in the next few months and use them. I'm hoping for the same smooth experience.

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