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  1. I used the credit score simulator from three different credit monitoring sites and my score decrease for on time payment on mortgage. The reason I am not paying the mortgage late is due to a current law suit. Due to the damage on my credit report I tried the simulator to see if it will improve my credit score if I paid on time. All the simulators are showing a lost of about 30 points. Is that accurate? Why is this? I thought paying on time even after late increase your credit score. Can someone please help?
  2. Hi i am a newbie and wanted to know if there is anyway to roughly estimate about how much I'd get approved for, for a mortgage? Is it usually about 3 times your annual gross income?
  3. Some of you may have read my prior posts about US Bank. Was informed today they will NOT change the reporting to CRAs as they feel it is correct. It is not. As there has been some success with CLIs when contacting execs directly, or exec customer service, is it worth making one final attempt that way (CEO, Chief Risk Officer, Director of Accounts, etc) or has enough effort been made to resolve this and the best option remaining is to contact an attorney and sue them? Thanks!
  4. My husband and I filed a Chapter 7 in May 2011 and received our discharge October 2011. We will eventually be doing a VA loan and I know we have to wait until our 2 year anniversary before we can obtain that. We've reestablished credit history since the BK with one new auto loan and a few new credit cards. Utilization on our cards is pretty good, but I plan to have those paid in full prior to buying a home. We have another auto that we reaffirmed during the bankruptcy and we owe about $14K on that. My question is, what kind of experience has anyone on here had obtaining a construction loa
  5. Good morning everyone. About eight ( october 2012) months ago I started the journey of getting a new home. My wife and I started to build from the ground up. When we first started this journy and pulled our first mortgage app my three scores were all in the low 500's. I knew this would not cut it, I also had a foreclosure in 2009 and knew that would only add to the burdon. Well after the first pull every voulture in the world attack what seemed to be all at once and I though I would never be able to fight them off and figured the mortgage would never happen. Well after a ton of hard wo
  6. I am trying to have 2 mortgage company remove 1 foreclosure and one charge off from my credit. Any help or guidance would be greatly appreciated. After legal separation from my ex husband, he had the terms of the primary and secondary mortgage changed without my signature or knowledge. In regards to the primary mortgage, he exercised an option to extend the Interest Only payment that was set to expire after 5 years. The option was to extend for an additional 5 years. Which he changed during a legal separation. On the secondary mortgage, the payment was based on principal and int
  7. Quick question about raising my score before we go for a refi, especially now that rates are starting to rise. Wife and I are recovering from a bad stretch in '08, and have been on time for 3 years + on everything now. Unfortunately, we have a couple of 90 and 120 day lates from that time. We also have a fed lien I am working on getting withdrawn before we go. I also have 1 collection from a emergency room visit 3 years ago. I have paid the hospital, but the doctor sent it to a CA and when I tried to call the doctors office, they transferred me to a CA as well. I went ahead sent a PFD fo
  8. I've had a joint mortgage account with Wells Fargo since 2006. It is reporting accurately on Experian and TransUnion however, it is incorrect (only for me-not my husband) with Equifax. My Equifax report states that the last payment was made 9/2011-but this is a current account. The last payment reflecting for my husband is correct (June 2013) and it is correct with Experian and TransUnion for me. I disputed it directly with Equifax and it came back verified with the following information: "The following changes were reported for your WELLS FARGO HOME MORTGAGE account: Balance Amount Chan
  9. As previously noted, a friend was having issues with US Bank, specifically errors in the reporting of the monthly statuses from 2012. Prior to 2012, there were numerous lates and even the start of the foreclosure process, which were not in dispute. Along with the diligent efforts to get the 2012 errors corrected, a separate goodwill letter was sent asking if anything could be done about the earlier lates? OK, no progress on the 2012 issue, and friend has been assured by US Bank that will be resolved by COB on Tuesday the 11th. However, yesterday ALL lates prior to May 2011 were remove
  10. Recently relocated from Ohio to Maine. Unable to sell home in Ohio so far, and was counting on the proceeds to be my down payment. New employer is covering all closing costs, including points, so just need down payment. Not a first-time home-buyer, obviously. Make too much to qualify for USDA loan, even though new town is rural enough that property would qualify. Not a veteran. That eliminates most of the 100% financing options I have seen. I know most of the seller assistance tricks went away with the housing crisis. Pre-approved for a mortgage. Current DTI, incl
  11. hello first i want to say this forum and the information on it has been a great help in repairing my credit. i was able to obatain an NFCU rewards card with a 14,500 limit that i would have never known about if it were for you guys! thank you sooooo much! so now i am in the process of trying to refinance my HELOC on my home. it has a 105000 credit limit and a 95000 balance. my home was paid off before this and i had some repairs to make to it and paid off cars and remodeled my home a little bit. so my question is, how hard is it going to be to get this taken care of? my home is worth a
  12. Hi all, newbie here trying to wade through conflicting information from a mortgage broker, bank lender and online information. My fiance and I are looking at purchasing a home. Income isn't a problem, and neither is her credit, but as the lower of the two, my credit is. Mine currently sits at 599/583/537. My question: What is the minimum score for an FHA loan and what's the best way to go about raising these quickly? Items affecting score: $90 medical bill: COLLECTIONS. Trying to pay for delete. $146 Verizon: COLLECTIONS. Trying to remove. $2,005 on $2,000 credit card: PAID OFF IN FU
  13. Here is one perhaps someone can offer advice on? A friend has a mortgage with US Bank. In September 2010, fell 30 days late. Sent payment for September and October in late October, just before 60 days late. Payment was returned by US Bank (apparently at that level of lateness, must be certified funds) and US Bank immediately sent notice of foreclosure. A Forbearance Agreement was entered into December 2010. Basically, US Bank leveled nearly $5K in legal fees and demanded payment in full of all delinquent months. So the delinquency (which by now was nearly 90 days) was paid in full immedia
  14. Me and my G/F decided we wanted to start getting our paperwork together to meet with a lender to get pre-approved. Now this was not an overnight decision; we talked about it for months. We had great FAKO scores and not one blemish between the two of us until a couple weeks ago. I received a notice from experian about a change on my report and it turned out to be a $50 medical collection (copayment) that I didn't know about. All of the notices were mailed to old addresses. I'm currently going through the "HIPAA Process" to get this removed and WhyChat is graciously walking me through it in
  15. Hey all, I have a second mortgage from Chase. My 80/20 was owned by Chase so they had both loans. The home foreclosed in September 2008 and the second charged off in Feb 2009. The house was resold in early 2009 ( may or april ). Once this happend the "second" should have been reported as an unsecured installment loan. In nov of 2011 Chase extiguished the loan and closed it out, but still reported it as a second mortgage. Being that the property was resold and in order for that to happen Chase has to drop or remove the lien on the title for the second mortgage in order to sell the prope
  16. We recently decided to buy a condo and had just paid off all but 13% of the credit cards debt. I was waiting for the scores to jump up as my utilization was way above 80%. Then, couple days ago .... I looked at my credit and noticed a collection account on all 3 CRA's for a little over $800 from collection agency called Debt Rec Sol (Debt Recovery Solutions?). I think this was for a debt for an account I closed in 2006 (almost 7 years ago). I am in the State of Illinois and I think the SOL is 5 years here. I believe the debt is for a charged off checking account which is now gone (as of 10
  17. Hi CBers, I'm looking for information on how to lift (temporary, if possible) a fraud alert. I visited each CRA but found no direct answer except by doing it via snail mail (I want to do it faster). My loan officer states I need it removed but I have other loans from NFCU that didn't need this requirement. HELP!!!! I'm trying to close at the end of the month.
  18. I think I'm close to seeing the light at the end of the tunnel, but I'd like some advice on a few things. Long-ish post. I have 3 negatives left on my reports, 30+ positive accounts. For simplicity I'll use the credit.com snapshot thing. The negative accounts are a charge off from a bank account I forgot I had which ran an overdraft, a collection account that will fall of this May, and an old Wells Fargo . I've written the bank, called, begged and pleaded but they won't alter it at all. Wells Fargo also hasn't been very helpful. I sent a GW letter, and they sent me back t
  19. I'm a newbie and have been reading a lot and I think I'm more confused that when I first started this process! I am trying to clean up my credit after realizing how bad it was. We are trying as hard as we can to be able to qualify for a VA home loan and need to clean up our credit as soon as possible. I know that I need 12 months of no late payments and a score around 640. Here's a run down of my current credit status: TU: 662 - April (590 - March) EX: 593 - April (585 - March) EQ: 610 - April (578 - March) I've been really trying to pay my payments on time and have not had a l
  20. Hi CBers!!! I attempted to search for the answers but had no luck so I'm asking for advice from those who know...I'm looking at a townhouse that I consider a bargain and I'm preapproved for a VA Loan if I'm going to move on it, but I was wondering if adding a new mortgage to my CR will have an effect on my AAOA as I'm currently at 2.1 yrs due to app spree in December. If so, wouldn't it be a positive effect as I've read from FICO reports that I don't have a mortgage or auto loan presently. Thoughts??
  21. Went thru a divorce, house was awarded to me, but had to refinance. Tried to refiance only to find out a lien byexhusband. So refinance fell thru, after 3 yrs he filed for bankruptcy and got lien remved but economy changes, i had to get a modification because of income. but now I find I cant refinance house because my credit has declined and the value of home has plummet. But I have to get him off mortgage. Any suggestions?
  22. I need some experts advice on my credit situation. I am staying in US fro 2005. Till 2009 my credit history was good, I cleared two auto loans, no delinquencies or late payments or no black marks on my file. In 2009 I went to vacation to my home country. When I am there my employer told due to peak recession and bad company situation, he said there is no job for me any more and I need not come back to US, and my visa has been cancelled. By the time I have a Line of Credit upto 10K $ and other credit cards etc, a total of approx 25K debt. Since I have no job, source to pay them back in US,
  23. I've been working in my credit for the last 6 months and the only things that I have in front of me right now are to collection items (medical bills) lingering around for another 2 years. I've disputed them and they came back valid. I offered PFD for the full balance a few months ago, but they won't even take a payment in full to delete. The total for both items is no more than $650 altogether. Will these 2 items hinder me from getting a great interest rate on a mortgage if my UTL is only 6%, no late payments, AAOA is 8yrs, and only 3 INQs?
  24. I'm saving money to buy a investment property. In a few months I will be able to have enough to buy a condo all cash. Someone in this forum told me to get a bank that would finance 25% of my deal and I will put down 75% to start a credit file under a new business that I will create. I've being working for cash for the last 2 years and my income was the minimum amount on these years. Now, my personal credit doesn't exist. I had some problems with bank checks and overdraw a few years ago, due to job losses, that If a bank check NCPS I can't even open a bank account. Even with all theses proble
  25. My plans are to buy a home this year if possible my scores was looking bad at the end of the 2012 (eq-617, tu-582, ex-588) talked with a realtor and he sent through dhi buyers club the guy was suppose to help me get things off of my credit and he only wrote a letter for the things that was already due to fall off he also said I needed to get a couple of credit cards to establish current positive credit lines. I still continue to tweek my credit report to remove negative information. as of today my scores are eq-646, tu-622, ex-637 but I have applied for numerous credit cards starting the end
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