artpacbell Posted October 12, 2003 Report Share Posted October 12, 2003 hi there ...my scores are around 620 for all 3 bearues...im considering to refi or getting a HELOC in my house...does anyone know if these scores are ok to qualify or should i wait until my scores get higher ?? Link to comment Share on other sites More sharing options...
ADSOFT Posted October 12, 2003 Report Share Posted October 12, 2003 hi there ...my scores are around 620 for all 3 bearues...im considering to refi or getting a HELOC in my house...does anyone know if these scores are ok to qualify or should i wait until my scores get higher ??You should wait. I would send letters to all creditors reporting negitive stuff. I heard that if you want to refi, a score of 650-660 will get you considerable options yet a 720 will get you into the Stated Income category. Remember if you send letters to creditors and collection agencies and they don't respond you can submit these letters to creditors and they MAY POSSIBLY not use it against you!!!! Link to comment Share on other sites More sharing options...
willtygart Posted October 13, 2003 Report Share Posted October 13, 2003 you are fine with the refi with the scores..i would caution against a heloc....hard to explain but sometimes they show just like a maxed out credit card and it might hurt your chances/scores of obtainign credit/loans in the future. If you know what you want the money for then get a cash out loan or a fixed second mortgage..helocs are good...but just like cc's if you go over 50% of the usage..it will hurt you. good luck Link to comment Share on other sites More sharing options...
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