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in4maous

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  1. My broker told me I needed the 720 to get the jumbo. I will have the 20% down payment once my current house sales.
  2. I am trying to get a jumbo loan or should I consider a 80-10-10? My mid score will be tough to get up to 720 considering I have two charge-offs from 2015.
  3. I have 6 revolving accounts with a 24% utilization and that balance is on two cards that I plan to pay down.
  4. I just spoke to a mortgage broker and my mortgage scores are 675, 659 & 640, respectively. I have some charge-offs that are impacting my scores from Chase, Merrick Bank and US Bank that are due to fall off in 2022. I was applying for a conventional loan, but was told it will take 11 months to get a 700 midscore based on their software program. Is a 1st and 2nd mortgage an option or what are my options? TC=$175k, I had some credit issues when I was younger and cleaned up majority of them. Thanks
  5. I have three charge-offs on my report and I was wondering if I have passed the statute of limitations in the state of Illinois. I have disputed these accounts and they have come back verified. I don’t want to settle because I plan to apply for a mortgage next year if it has passed the statue of limitations. While reading I understood if you settle it restarts the 7 year time stamp. Any advice is appreciated. Date Last Active: 11/24/2014 Date Last Payment: 9/21/2014 TU 648 EQ 655 EX 666
  6. Ok, so the date of my last payment was 6/16/2014 and I can submit this letter to have the chargeoffs removed?
  7. Why Chat, since I am at the 5 year mark. Submitting your letter to the creditor and CRA will work to remove it from my reports? Sorry, if it may sound like a dumb question, but I need to get this resolved. Thanks
  8. Chase still holds the accounts and they have not been sold to a CA.
  9. Also, what can I do to improve my mortgage fico score other than decrease my utilization? It’s currently at 40% and my FICO scores are 640+, which doesn’t mean anything if the mortgage FICO is the score used
  10. Will an underwriter consider me paying off the chargeoffs at the closing table?
  11. I’m in Illinois. What is the SOL, 7 years + 180 days?
  12. No, it has not been reviewed by a mortgage professional. I am afraid to get a hard pull to reduce my score. My mortgage fico is 595, and the charge-offs are hurting my scores based on my own analysis.
  13. Ok, so I have read the threads and it’s nearly impossible to PFD a Chase charge-off. I have 3 and the balances are over $2k each. I am looking to buy a house soon and I understand all charge-offs should be removed before an underwriter will approve. Below I have few questions and all comments and assistance are greatly appreciated. 1. What is the impact to my score if I do settle? 2. Can someone provide me or direct me to a settlement letter that worked? 3. What is the remark I should request to include on my credit report?
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