coolcreditchick Posted April 25, 2003 Report Posted April 25, 2003 Hello from a newbie...I have been lurking on the site for a couple of weeks and decided to register and join the brave ranks of credit repair warriors. I started sending in diputes about 4 months ago and have managed to clean up my credit to the point of only one collection account. It is with a credit union so they have been quite persistant in reporting. I am thrilled b/c the SOL is up in July 03 and then I should be smooth sailing. My question is...what score is adaquate for getting a home loan with great APR??BYW--When I began disputing my CR, I had close to 14 bad things on it...I was amazed at what you can do yourself that credit repair companies want to charge $800 for....Good luck to everyone!!
FICOfocused Posted April 25, 2003 Report Posted April 25, 2003 Congrats on your sucess! I have heard that any score above 720 is eligable for the best possible rates you can get, and that 680 and above gets very good rates. You must be so glad to have most of the battle behind you! It is a fustrating road, but it is good to hear that it pays off in the long run!
chingasaholo Posted April 25, 2003 Report Posted April 25, 2003 it's very possible, depending on your circumstances.......to pull your credit from the abysmal 400's-500's into the high 6's and mid 7's with just a little work. You really need to stay on top of it though, spend a little bit on credit repots and it really helps to have a little cash saved up to deal with accounts that just wont budge of your report. Depending on your timeline to repair you credit, if you can hold out longer than the CA's you may just walk away without paying a dime. Time really heals all wounds...For the most part if you wait out the 7 years your free. I went from the 500's to the mid 700's in the course of a few months, brought my wife from the low 500's to the high 6's in about the same time and I'm still working on her's. If your looking at a short timeline, i.e. looking for a house, you probably should have some cash backing you so you can get that crap removed ASAP, mortgage people dont like to see ANY collections, bankruptcies or judgements, a few lates here and there are ok, but those others will kill your mortgage.Chingp.s. I saved all I could for about 4 months, then put my whole savings into clearing my wifes and my debt, worked like a champ. I have a few holdout tradelines Im still working on, but we got approved for a nice loan at prime rates......
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