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Mngdoy · Joined: 08 May 2009 Posts: 2 0.50 Dollars($)

I need to raise my score really fast by about 35 points from 590 to about 620 so i can try to qualify for a FHA loan for my first house. I want to buy a house this summer.

Garysnober · Joined: 17 Mar 2009 Posts: 450 15.29 Dollars($)

Hi mngdoy, Well ok this can be accomplished. How much debt do you have all together? Any late or Pass due Account? Any in collections? If not then well paying your debt down to about 35-40% of your entire debt can really help out your score. Dont apply for any new cc or loans as this will lower your score. Keep paying your bills down and on time. Taking these steps over the next few months and you may be able to get the required increase you are looking for.

Mngdoy · Joined: 08 May 2009 Posts: 2 0.50 Dollars($)

Hi Gary, Thanks for your prompt and fast reply. My debt is not that much maybe a total of 3-4k and i already paid off my car reason my score is low is i did miss a few payments on several different cards.

Garysnober · Joined: 17 Mar 2009 Posts: 450 15.29 Dollars($)

No problem, Yes being late on several different cards will really decrease your score. You might be able to call the cc companies and ask them to remove the late marks. Its better in my opinion to write a letter stating why you were late on the payments. No guarantee they will remove it but why not try. 3-4k is not much to pay down if you have some extra cash on the side. Paying down you debt will be your best bet at getting your score to where you want it to be. Hope this helps. Getting the late removed from your credit will really help too.

smckaybiz · Posted: Fri May 08, 2009 7:06 pm Post subject:

Hello mngdoy,

Is the 3-4K debt all on just one card or split up between a few? What are the available limits compared to the balances you owe? It doesn't really sound like you have a lot to work with but I can't blame you for wanting to buy a home right now with the market the way it is and rates so low.

Atleast if it takes until the fall you may be able to get a better deal by finding someone who wants to move before the winter themselves and are really desperate to sell their home. Worst case scenario you might be able to find someone willing to do owner financing or an article of agreement for you.

Good luck

jameshogg · Posted: Fri May 08, 2009 7:41 pm Post subject:

Hi Mngdoy,

You can check out the following link to know some simple steps to improve your credit score:
http://www.mortgagefit.com/credit-rating/credit-repair.html

Thanks

Realgeni · Joined: 13 Apr 2009 Posts: 1434 99.76 Dollars($)

Mngdoy,

House pricesa re goign up.No need to hurry. Pay your credit cards and have few good months on your credit report. The house prices are not goign to increase or probably will stay flat for a while, once it finds the bottom.

Look to buy a house in next six months, you will have more peace of mind.

gmakerley · Posted: Sat May 09, 2009 6:27 am Post subject:

geni, you contradicted yourself in your first two sentences.

mngdoy, you need to concentrate on making every payment on time, obviously, but you also will need to cut back on the balances you owe as much as possible. it is certainly attainable for you to get to 620 in a short period. do not be discouraged.

Realgeni · Joined: 13 Apr 2009 Posts: 1434 99.76 Dollars($)

sorry Imiss typed it. I was saying

"house Prices are not goign up"

Thanks for correctign George.

smckaybiz · Posted: Sat May 09, 2009 5:05 pm Post subject:

Sorry to say it Geni but you mis-typed again! Wink

We all mess up every now and then...

Realgeni · Joined: 13 Apr 2009 Posts: 1434 99.76 Dollars($)

Thanks smckaybiz.

House prices are going down, they are not goign up as of now.

eric2 · Joined: 28 May 2009 Posts: 20 6.32 Dollars($)

It is possible to raise your credit score by paying down balances to get your utilization in line or see if you can talk to some one about the possibility of a trade line.

Good luck

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