Posts Tagged ‘credit history’

My husband and I both do not have the best credit. My score is around 530 and his at 550. He doesn’t even have credit history. I have paid all my debt, and i know it takes a while to come off your credit report. We are hoping that our score will jump up to 580 between the two of us and get his dad to co-sign so we can buy a house. Then refiniance once everything off my credit report. Is there any secrets to boosting my credit score? Does this sound like a good plan? How much of a downpayment? I need help. We want to start looking for a house by the end of September!

Answer:
Greetings ! The Great News is . Obama has signed into the stim package an 8k dollars First time homebuyers cash credit to homeownership in 2009 .. so Good Luck with that Great little treat . Take advantage of it , cuz your paying for it . Now , as for credit . From my loan officer days & underwriting experience, i recomend you Pull a tri-merge credit report from any online company that you feel comfortable with . It may cost you as much as 70.00 dollars . A Tri-merge report pulls every little pc of dirt on you from all 3 mayor credit beurows. This will help you review and make corrections and show proof that things are paid so your report could be properly undated. It’s unrealistic to think things just fall of reports once paid. You actually have to push and pull to get things corrected on your credit report, but by law they have 30 days to make corrections if need be. Once you start fixing your report you must send a copy of facts to all 3 credit agencies and follow up with them 10 days later to confirm the corrections have been made. Wait a few months and pull another report .just to make sure everything’s looking right. Then Hold off on pulling anymore reports for as long as you can. Don’t let every loan officer pull credit for this lowers your score every time. This process can be done and may take as long as 4 months to accomplish. Maybe we will get lucky and Obama will abolish the current credit beurows, giving us all a clean slate. Now that would be sweet .. Good Luck.