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Good news update


effingnewguy
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I haven't been on here lately because of work and trying to get items cleared up but I have GREAT NEWS!!

I have gotten several items removed from my CR, including getting a State Tax Lien released. Some items have dropped off due to SOL but my scores have increased significantly.

So...I applied for a mortgage and was approved for an FHA loan up to 375k.

Anyway, I have a few more medical collections to get rid of as well as a judgment but, I have 2 positive lines - HSBC for $300, 1st Premier for $250. I am currently rehabbing my guaranteed SL which, I have in writing, will clear all of my negative reports after a successful 9 month payment history.

My questions for the group:

1) I have an old Navy Federal Visa that I have paid but still reflecting a 150+ day late in 11/06. Would a goodwill work here? I still bank with themand they have upgraded my checking account after a 12 month rehab period.

2) AMEX offered me a settlement on an item that will drop off via SOL in 3 months. I have the money to pay it but I will only PFD. Any luck in dealing with AMEX on a PFD?

3) I have 2 Collectors (Credit Control Corp & JL Walston & a$$.) having the same address but different names. What is the best course of action here?

As of right now, my scores are:

EFX 573 (Facta Beacon 5.0 model)

TU 569 (FICO Classic 04)

EXP 611 (FICO v2)

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Wow...You were able to get a mortgage with those scores and for that much. What did you do and who did you apply for a mortgage through. I'm in the process of cleaning up my credit so that I may apply for one myself. In todays market I was told the least your score could be was around 630+ but they really want someone with 750+ to get good rates.

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FWIW, when I applied for a mortgage, (recently) the loan officer asked me about my CA accts. NONE of my MEDICAL collections were on the list. My mortgage FICO was at least 45 pts higher than my regular FICO.

This may have been the advantage for the OP. If they did not count the medical collections, his score is higher than what he got from myfico.com.

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I sign on my home Tuesday. I only applied for the amount needed to purchase.

My scores tu 640 ex 615 eq 58.

I have a

13 BK little over 2 yrs old.

2 Med Coll EQ

HSBC 300cl 5.00B

Crdt 1 300cl 16.00B

CJ 2500cl 0.00B

1 Repo 3 y/o in BK

late payments on truck pd clsd

I was approved for 185k.

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:wave:

Congrats!!! If you don't mind me asking, did you get a good interest rate with your scores and the other items still listed on your credit. Did you have to pay points or anything like that. I just want to be very informed for when I start the process of getting my mortgage. I'm sure I probably could get one now but I don't want to pay double for it if I can help it.

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I qualified for an FHA mortgage. With the medical collections not being reviewed, my middle credit score was above 580. With extensive time on my job, excellent financial reserves and a low DTI, I was approved.

My goal is to buy a house by the end of the year. So, I have a few more months to raise my scores even further.

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