Credit question again

[trlcavscout]

Ok so with the tax refund I got this week we are gonna pay off a few old debts that kept us from getting our house. I would like to monitor how this effects my report and what it shows so what is the best place to go for that? I signed up for the credit karma but I cannot figure out how to view an actual report, all I get is their graphs? I need to get this fixed and the sooner the better.

[DeusExMachina]

Side question, when did you file? I'm wondering when to expect my return...

Sorry I don't have an answer to your question.

[Fried Chicken Blowout]

Since this is mortgage related, I would contact a reputable broker and ask them how to track your credit and see if they can pull your report every 4 months or so to give you feedback on when they think you can get approved.

[Graves]

Another side question: why are you willing to give the .gov an interest free loan?

[ChunkyMonkey]

Sign up @ truecredit.com. They have credit alert - every single change/report on your credit will be updated on daily basis. Do not sign up for the credit score, they do not use FICO. Paying off open judgements or active collections will improve your scores, paying off old inactive collections will not. Typically, opening new secured credit will improve your scores faster too. Another trick that I love to use is by signing up as an authorized user with a seasoned line of credit (e.g. get your rich uncle with 5 year old $100k amex card to add you as an authorized user for 3 months. When this line of credit shows up on your report, it improves your DTI and provides instant 5 year on time payment history.)

Do not ask any mortgage broker to repull your credit just yet.

[ChunkyMonkey]

Side question, when did you file? I'm wondering when to expect my return...

Sorry I don't have an answer to your question.

Efile is running 12-14 days from acceptance to money in your account.

[DeusExMachina]

Efile is running 12-14 days from acceptance to money in your account.

Oh man. I better get that Form 3 paperwork ready. :D

I sent my stuff to my CPA a few weeks ago. I haven't heard from them so hopefully they have filed already.

The irony of buying tax stamps with my tax return just hit me.

[ChunkyMonkey]

You are refunding your refund. Hey, at least you get some refund! I just extended mine as usual.

[espos1111]

With itemized deductions the IRS starts accepting them Feb. 14th. 8 to 15 day wait for your dough. As for credit, from somebody that has been credit challenged, by Colorado law you get 1 free credit report by each company (Transunion, Equifax, TRW) per year. You can request it on their sites. If you want to see it now it will cost you a little bit, but it is free if you can wait for snail mail. If you are truly credit challenged and are trying to get a home try a broker that works with CHFA. Sometimes they will work with you to fix your credit. With us they rolled all our outstanding debit into the mortgage (medical related) as a condition of the loan. It was called a hardship loan and we needed to prove our hardship and what got us to that point. We had to go through budgeting classes and work with a debit counselor, but it was better than a foreclosure. Our mortgage banker was Mandy Roderick and she saved our lives. She used to work for First Horizon but has moved from them now. If I can find her latest Xmas card I will post for you where she works now.

[rockhound]

speak to a good mortgage broker, MB888 is one if I recall. I know some that will run your finances and set up a step by step program for you. If your follow it they will have you approved. They will hold your hand from application to closing. They are very professional.

If you need a referral send me a PM.

[trlcavscout]

Wouldnt paying off inactive stuff still help your debt income ratio or what ever its called? It would also be a requirement before buying anyways right? I have a few from like 5 years ago when me and my wife were both unemployed right after buying a car and moving, it was a bad time! But is why USDA denied us because we had them and havent paid them off. I have paid one off so far and was going to pay the rest.

I also as much as I hated to I just got a capitol one card [Rant1] I will use like $50 a month and pay it everytime I use it, I really dont want any vikings in my wallet, or any other card for that matter. Any other ways to boost my credit?

[trlcavscout]

speak to a good mortgage broker, MB888 is one if I recall. I know some that will run your finances and set up a step by step program for you. If your follow it they will have you approved. They will hold your hand from application to closing. They are very professional.

If you need a referral send me a PM.


Thats what I need. Yes I had spoke to MB888 before (very nice guy) I just dont want to keep bugging him. Any one here do residential mortgage?

[rockhound]

answered your PM

[ChunkyMonkey]

Wouldnt paying off inactive stuff still help your debt income ratio or what ever its called? It would also be a requirement before buying anyways right? I have a few from like 5 years ago when me and my wife were both unemployed right after buying a car and moving, it was a bad time! But is why USDA denied us because we had them and havent paid them off. I have paid one off so far and was going to pay the rest.

I also as much as I hated to I just got a capitol one card [Rant1] I will use like $50 a month and pay it everytime I use it, I really dont want any vikings in my wallet, or any other card for that matter. Any other ways to boost my credit?

Check on your collection 'DLA' (date of last activity) if it shows last month, that means it is still actively reported by the creditor. I don't do USDA or Land loans. If you are changing your mind and moving into the civilization, then I can be your guy [Tooth]

Your best bet is still your local credit union on your type of loan. Kept in mind, one rejection might not mean 100% rejection. I have dealt with people who were rejected multiple times by different banks and got them approved by different approach or loan program. Unfortunately, 90% of loan officers are cherry pickers. I have seen loans got declined because the loan officers priced the % wrong (no profit), wrong program, HOA issues, and worst of all due to one LO' upcoming honeymoon, and he was not willing to give up his pipeline to another LO.

Rejection due to credit is not universal either. A nice letter on top of your loan application can get you approved if you are in the grey area. Keep in mind, FHA is a guideline, not a set of rules. There is NO minimum credit score rule to get loan approved. Good luck to you and you have my number if you have any question!