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Posted: Tue Jul 29, 2008 4:26 am Post subject:

"Hi sorry I cannot help you because I don't have any idea about this matter."

LOL... Always enjoy a good laugh when a newbie post's something like this.

janvijikla · Joined: 25 Jul 2008 Posts: 8 6.00 Dollars($)

Here's the situation; My middle score is just over 600, I have charge offs and collections on my report that are over 6 yrs old... They should fall off about the middle of next year, However I want to buy a home right now, I did not file BK and have no judgments. I was told by one mortgage broker, that lenders want all the derogatory marks removed or paid off before they would approve any loan.. This was for both conventional and FHA. I currently have Lexington Law working to repair my credit, I'm confident my score will take a boost, but I doubt I'll be able to get all derogatory marks removed anytime soon.... My question is; Are their loans out available I can get into with these marks on my credit?... If I'm able to bump my middle score to 680-710, can I still get a decent interest rate? The home I'm looking to buy is $250K and I can put 10% down + pay closing costs. Please let me know... Thanks! Nick

[Link deleted as per the forum rules]

larry · Joined: 27 Jun 2007 Posts: 3322 474.67 Dollars($)

Hi janvijikla.

Welcome to the forum.

Is your real name Nick?

With 600 score you will not get approved for a mortgage with better rates and terms.

"I have charge offs and collections on my report " To get approved for the FHA loans these derogatory marks should be deleted.

"I'm able to bump my middle score to 680-710"
If you can improve your credit score to 680 to 710 points then you should be able get approved for better rates and terms.

Best of luck,
Larry

Guest

Can the moderators please remove the reference to my email address in post #9... I contacted support about this last weeks but no reply.

Caron · Posted: Fri Aug 22, 2008 5:21 am Post subject: RE: removed email address

Hi Nykolos,

The email address has been removed from your post as you've requested for it. On behalf of the community, I apologize if you haven't been given a reply.

Good luck

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Can I qualify with old chargeoffs/collections on my credit?