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Everything posted by MaxedOut

  1. Where are you getting those rates from? I just checked and the current FHA rate for 30yr fixed as of today is still 6.5 percent, however the 5/1 did go down to 5.83 (from my locked rate of 5.87). I would be very interested if there was actually a way to get it below 6 without any down payment through another lender/program.
  2. Yes, we qualified for fixed. I specifically asked for the ARM. The money we will save over the next few years was enough to give me more of a piece of mind than the 30 yr. Allot of people are scared of ARM's because of the recent problems people have been having the last few years getting stuck in the loan and having the interest rate skyrocket on them, etc. What most people do not realize is a good number of those folks got way over their heads to begin with, buying more home than they should of. When you get approved for a home loan, most likely the amount you are approved for is higher
  3. Little over a year ago I found CIC and started hammering out my credit repair/building process with the goal of buying a home in September '08. I was able to remove all collections and even a judgment from my report with the support and info I got from the CIC community. I then opened a few lines of credit and played the waiting game. Over the year we looked at many, MANY houses online and driving around, just to get a feel for what we wanted and what the market was like. Even knowing the way the market was going, I was still surprised at how much the prices were dropping over just a few m
  4. Excellent advice. Put your effort towards getting the negatives removed and keep at it until they are gone or drop off your report. Don't get discouraged when they tell you they can't or won't remove it, just brush it off and give it another shot a couple months later. I also suggest getting at least 1 credit card and a secured loan (unsecured if possible, but secured if not) from a local credit union that you are sure reports to all 3 bureaus. Having no credit at all can be just as bad as having bad credit, believe me. I got my report wiped totally clean last year, no good or bad items on
  5. I know for sure one of the letters was actually responded to saying they were removing the collection account, the other times I do not remember getting anything back from them. They just removed the collections from my credit report shortly after receiving my letters. They may have sent responses, but the only response I cared about was seeing the collections disappear from our reports. The goodwill/suckup letters work well for paid accounts as the CA has no reason to keep it on your report after that. They also have no reason to remove it from your account either, hence the "sucking up"
  6. That will do it... makes it more recent when they update it, so instead of being an old collection that is affecting your score less and less, it is now a recent collection, even though you paid it off. What a great system huh? Further punish those who try to do the right thing. Anyway, just use this to your advantage. Write a nice suck up kiss A$$ letter to the collection company explaining how wonderful they were with working with you to get this resolved, etc etc, blah blah. Then explain how your score actually dropped 50 points after they updated your file and it is now preventing you
  7. As far as I know it ended a couple months ago. Funny thing is, they never even charged me for the 1 month
  8. Send a certified DV letter to the CA. Don't bother with talking to them over the phone. It is possible they lied just to trick you into paying. If they really did get a judgment awarded by default then they should be able to provide that paperwork, and then you can file a motion to vacate due to not being served correctly or at all. Most important thing right now is to do some research and find out for sure if there is a judgment or not. Don't rely on them to tell you... make sure you get concrete proof. Oh yea... did I forgot to mention not talking to them over the phone?
  9. Increase of $300... every little bit helps. Thanks for the tip!
  10. Even if your score doesn't improve, it may make a big difference to lenders that do manual reviews of your credit file before approval. Can have a great score and 1 collection and get denied because of that 1 freakin collection (paid or unpaid). Sucks the way that works... Dispute it as dismissed/vacated and see if it is removed then. If not, perhaps get a hold of the lawyer that filed it in the first place and see if they will draw up a motion to vacate under the grounds that it is satisfied and both parties wish it. Once that is filed and it is vacated, send a copy of the order to the bu
  11. I can neither confirm nor deny that bumping works. *cough* It works *cough*
  12. AU's are helping my EX score for sure (saw the big jump as soon as it hit my report). I doubt the new scoring model 'really' is in effect for any of the CRA's yet.
  13. Yea, I gotta comment... Grats! I have been thinking about getting a new car recently. I think I will hold out another year though. Plan to get a house in 6 months. Still trying hard not to apply for more credit as it is! Getting the itchy finger though. So many offers coming in the mail now that credit is clean.
  14. Simple, plan ANOTHER part for your son on another day. Why have one when you can have 2!
  15. Yes, and GW letter is the way to go. Simply disputing the lates through the CRA can be somewhat risky as they may just delete the trade line .
  16. Send in proof of both your incomes and roll the dice. They may take it (household income), and if not they will may just lower the limit or ask that he gets included on the account. In that case, you may or may not get denied with him on it... doesn't hurt at all to try though. Worst thing that could happen is they say no. If you are looking for an answer of what they will accept, give them a call and ask. Just let them know you put both your incomes down but didn't want to add him as you thought it may hurt your chances. They will (or should) give you the best advice on how to get that
  17. Nah, you will probably get an answer today or tomorrow. They are pretty quick, and loan officers are there even on the weekends IIRC.
  18. There is no sure fire way to this process. Everyones results will vary. The DV letters here are just examples and/or basic outlines to give you an idea of what send, but so many people have used them word for word that the CA's are just tossing them. You should really try to make the DV seem authentic and not like some copy/paste letter off the internet. If the collection is on your report, dispute it with the CRA. If it gets deleted, great. If it comes back verified, then DV. There really is no definitive order, but you have to take some sort of action if you want it removed. Also, if
  19. To answer your earlier question, they only pull EQ. I asked if they could pull one of my other reports because my EQ had nothing on it and they told me no, only EQ. Go ahead and continue your app. If you are not approved for that card, ask if you qualify for any others. They will use the same credit pull for all your apps, so take advantage. Either way, you can get the INQ removed and try again in a few months if all else fails.
  20. Bit more info on whats currently on your report would help us give more accurate info... but the 2 off the top of my head that would increase scores fast would be: 1. Decrease any credit card balances to below 10% of the limit. 2. If you have any collections, work on getting them removed.
  21. A new EQ report. Most Credit Unions will use the same report for 30 - 60 days, so when you get your negs removed, just call and make sure they pull a new EQ report.
  22. Go ahead and apply. You can get the INQ removed and just try again in a few months if denied. Just make sure they pull a new report when you try again.
  23. You tried Penfed yet? I believe they only pull EQ, but with your luck, they may go with EX just this once. I couldn't honestly tell you I would be able to hold back a small giggle if that happened... Just a small one though