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Just need to vent :(


Sbrader23
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Well I am working with Charles on getting a mortgage and my score was at 594 and just needed to get to 600 for an 80/20 loan... Well I had a fingerhut account with a balance of 1,300 drop-off, an old discover charge off drop-off, paid a $28 collection and a $162 charge off account off and My score drop all the way down to 553 :( I hate experian... the funny thing is my EQ and EX files are pretty much the same except I have 2 more Positive TL on EX then EQ yet my EQ score is 624. I wish now I wouldn't have paid those two accounts off and just put the money towards my current CCs to lower the balances....but hindesight is always 20/20.

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Hmmmm...it's usually not a good idea to take out new credit cards while applying for a mortgage, so definitely talk to Charles about this, but...

Can you get a friend/relative to open a new credit card with you as joint user (not authorized)? It may help to bolster your score, though the timeframe may be too quick for any big movements.

Just a thought.

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Sorry to here about the problems. Unfortunately when you pay a collection account and it updates to paid it generally will have a negative affect on your score because it will update with the new date. In doing so, it makes it look more recent to the FICO scoring model and that's why the score drops.

If you have a bit of time, you may want to dispute the paid ca's and see if they drop. Sometimes once a ca is paid they do not respond to a dispute so you may get lucky.

Good luck!

paw67

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