Husband and Wife / to me / show details / Apr 10
Dear Mr. Majors,
My husband and I are getting ready to apply for a home loan, his credit score is thur Equifax is 595 and the other two report it as 601 we know that it is not a very good score to try and buy a home with. I was wondering if you could give us some advise on a company we could apply with, having a bad score like he does. We filled bankruptcy and it was discharged in May of 1999. After making it pretty good for a while (3 years or so) and started to get our credit built back up he lost his job. We didn't even see it coming he came home on a Monday and said that his last day was Thursday. There goes our credit again. He has a good job now and 601 is the highest we can get our score up, because he has 2 credit cards that is way past due and they don't want to work with us. We've wrote them letters saying we would like to make the wrong, right and one of them we haven't even heard from. I've received calls from collection agencies but they want talk to me and my husband sleeps all day (he works 3rd shift) so there is nothing we can do about those. They want even give me a number to have him call back and it don't show on his credit report as in collections. But it will give it time. On his report it just shows way past due. I'm scared of applying for and home loan and get turned down and on top of that when they check his credit score that will make it go down. Then I have to try again. I just don't want to apply again and again and all the time it is bring his score down. Please if you don't mind to help us out and get us going in the right direction.
Thank You and God Bless
Live Human
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Bo Majors / to Real Person / show details / Apr 11
Look for owner financing. MANY homes have owners that will finance for people that have good jobs. Ask around. Ask a few banks. Ask a realtor. Get into and you will be earning equity.
One has to pay the credit cards somehow someway. Negotiate to lower the balance and pay. In the mean time one needs 3 open lines of credit. i suggest getting a gas card, a regular card and a small loan that all report to bureaus. If they will not apporove you give them collateral like money mabye for the cards and a car or something for the small loan.
In 2 years your scores will be in the 650's plus.
Saturday, April 14, 2007
Low credit score is keeping us from buying a home. How do I get approved and raise my score?
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