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  • 2 weeks later...

Hello everyone, I have been looking at this site for about 2 weeks now and i finally registered, It is so amazing how much you people know!!! WOW!! :D My husband and i are buying our first home, and the first mortage company we talked to led us to believe we had HOOORRRIIIBBLEE credit!!! All of mine are between 605 and 620 and his were between 600 and 610, now that i been reading all of yalls posts <---texan :lol: } It seems as though its not as bad as he said F*****. I learned that these people are soooo shady, anywho, I would like to know the way to do this too. Since we where shopping around my hubby has like 25 inquiries, EEEKKK!! which to be honest he didnt authorize but 3 of those. His scores went down to 598,589,600. Your help will be greatly appreciated. :?:

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Welcome gemasi98!

FICO is supposed to offer some relief for mortgage and auto pulls since it's assumed you will be shopping around for the best deal. 25 is a little rediculous. I would have a talk with your mortgage person and see if they can't do something about the excessive inquiries (they can, it's just a matter of calling and telling them to remove them).

Sounds to me like he couldn't get you financed, and in a panic, called every subprime lender he could to get you signed.... :roll: common tactic.

Your situation may be better addressed by tackling some "easier" processes than the one mentioned here.

Some include:

Getting your balances down to under 30% of the credit limit. FICO nails you if you go over that percentage.

If you have a couple "dings" in your history, write a "goodwill" letter to the creditor. Basically, you're saying "hey, I've had credit with you for a while and something came up so I paid late, but it shouldn't kill my credit for seven years.... etc... "

If you've got serious lates - dispute. You'll get a small drop in score because you lost the history of the account (called a tradeline), but your overall credit picture will improve because you don't have a bunch of 30-60-90-120 day lates floating around on your recent history...

Read over the board and absorb. These things don't happen at once. Most people spend a year or two getting their credit "up". It's a tough journey, but well worth it. In the end, you can be assured you'll know how to avoid this situation again in the future to the best of your ability.

Ask questions, but search first. This isn't a tactic to blow off new members. Most questions have been debated ad nauseum, and there are pages and pages of useful information - much have which is lost by answering questions again....

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