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I NEED 20-25 POINTS


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I've got a mortgage approved for 90% LTV, but I need it to be 95%. The only way to get that is if my mid-score jumps up 20 points. My wife and I got pregnant last fall (after trying for 8 months) and we're successful. To our dismay though, the baby was diagnosed with a terminal illness and we both had to miss alot of work. My credit went from a 690 to a mid score of 560. I talked to the LO today and if I have a 580 I can get 95%. Any sugestions on how to boost it 20 points rather quickly? In the last 36 months I've only had (3) 1x30's and I talked to the bank tht reported them today, and they said considering my circumstances they would take report them as bank error. My banks reports thru Equifax. I thought I'd pull my Equifax report, get a 16 digit number so I could actually get a rep on the phone at EQ, and then get my bank to fax her over the "BANK ERROR" statement. Do you guys think this would boost my score 20 points? It would be remoing three 30 days late payments off my report. Thanks for all your help. :D

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Well, you can try a few things. First off let me just say that there is no definite "quick fix" in getting your score up. This takes time and patience.

You can try disputing inquiries if you have any. Or you may want to talk to your broker about rapid rescoring. Im not sure if this is an option for you but its worth a shot.

Heres an article on it:

Rapid Rescoring

Hope that helps :p

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This would (may) only help your Equifax score. Be sure to discuss with your broker which bureau has your high score, middle score, and your low score.

For instance if your Equifax is your high score, this will not help to get your middle score up twenty points.

Also, please be specific as to when the 30 day late payment dates occurred. If they are all three years old, then this will have very little if any effect on your credit scores.

Also important is when your last credit report was pulled. Experian has been hitting very hard on points after thirty to forty five days.

I can think of at least six diofferent lenders that can lend to 100% on a 580 credit score, but do not know enough detail about the rest of the credit package to render a decision here.

Sometimes a lack of rental history, or BK seasoning, or lack of credit lines, or, or , or can push it out.

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Morrow, and A mortgae man.....thanks for the responses. Maybe I should clear a few things up. I was a member here for 1.5 years under the user-name BIG-MIKE, but for whatever reason when I came back a few weeks ago the username had been deleted.

Also, I tooam a mortgage broker....And the (3) x 1 x 30 is on my Equifax...which happens to be my middle.....They are less than 5 months old, so I'm thinking when they remove them, my credit should go up a good spike.

I've talked to some people who do "rapid rescorin" who charge 100.00 per item. Does anybody know of someone I could talk to. It's been too long for me to remember. Also, morrow, I read that article today too. That particular company works for brokers, banks, etc. They don't work for indiiduals per say. :wink:

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I agree with FirstSource with his ananlogy that you only need the one score rescored.

With those late payments being so recent, and the full removal of the late notations, this should give a really nice boost to your score, as long as there are not other late payments in the same time period, meaning that other late payments also reported during the past five months.

Then again if you compare your credit utilization of outstanding balances between the 690 score and the current score, this could be causing a very negative effect as well. Have you looked closely at these?

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MM, I've looked at them very closely. The only thing that's negatively effected my credit in the last year was those lates, and 1 returned check. Do you guys recommend anyone to do a rapid rescore thru Equifax? I've never done this before......

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Rapid Re-score is something that is done through the credit agencies that mortgage brokers/loan officer use. Can't be done by consumers, and part of the reason is that it is only something that you would need to have done while getting a mortgage.

If you dont have a loan officer that you are working with, you can contact any of the LO's that come to the board. I am sure that any of them will be glad to help you.

Charles

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An individual is not allowed to pull their own credit. Nor are they allowed to originate their own loan. Someone else in your office may be able to do it, but you are not allowed to pull your own. You would need a permissible purpose, and if you have no permissible purpose (because you cannot wirte youre own loan), you are not allowed to pull your credit.

Come on, think of the fraud.

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Thanks, Morrow. I forgot what that was. I don't think that will help me, cuz I think the negs are mine......but I'm sending ITS's when I only have them on 1 or 2 violations, and I'm getting some success.

I have gotten 1 promise for deletion letter and a letter that my account is "0" balance so far for 2 collections. That's what the underwtriters seem to want...."0" balance. That's not what I want, but if it'll help me get approved, what the heck!

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last week i joined this thread

my I actually got my scores to

jump 20 pts... I have two credit

cards which I had maxed.. I paid

them off and from the time of

my last post on this thread I got the

jump... this is the easiest and quickest way.

this was a first premier with a 250 limit

and a household with 300..

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