Credit Score in Stroudsburg>Question Details

5834ljaa1, Home Buyer in East Stroudsburg, PA

Need a loan? Middle score 612, yearly income $171,000.00. Was divorced 8 years ago filed bankruptcy and then it was dismissed. No late payments 2 year

Asked by 5834ljaa1, East Stroudsburg, PA Tue Apr 24, 2012

Help the community by answering this question:


I know a great person to call. His name is Tony Pistrak & his number is 570-407-1810. If he can not help you he will tell you where to go.
1 vote Thank Flag Link Wed Apr 25, 2012
I can help you. There are lenders that can do FHA Loans with 600. They are uncommon to get closed, very tough. Call me and I will help you get financing with a good lender. If he can't do it he will help you get somethings off your history to increase your score. You need someone good that won't steer you wrong.
Ed - 570-242-8518
1 vote Thank Flag Link Tue Apr 24, 2012
We see many credit reports with low credit scores (anything less than 620), and often many scores in the 500's. It is unlikely you could be approved for mortgage financing with that credit score at this time.

Beware of any mortgage professionals promising you an approval with such a low score. Wait on buying a home. I recommend you take the time to resolve your credit issues.

First, settle any outstanding debt. If you owe money on collection accounts, charge-offs and/or judgments, make payment arrangements and get these accounts paid promptly.

Next, begin rebuilding your credit. If you have current accounts with good payment histories, or even some previous late-payment-blemishes, make sure you continue to pay those accounts on time. If you do not have any existing credit accounts then you'll need to establish several in order to create a viable credit history.

I have found that CONSUMER ACTION is an excellent resource for objective advice on all things credit related. You'll find free and sincere advice on everything from settling collection accounts to rebuilding credit to building credit from scratch on their website.

Beware of anyone offering to "repair" your credit! The Federal Trade Commission issued a stern warning last year that such offers are scams. Find more from the FTC HERE.

The best way to buy a home is to have a decent credit history combined with sufficient Income and Assets for a home purchase.

The best way to have a decent credit history is to settle negative outstanding obligations and pay all your bills on time for at least two years.

Trevor Curran
NMLS #40140
0 votes Thank Flag Link Sat Apr 28, 2012
Search Advice
Ask our community a question
Email me when…

Learn more

Copyright © 2016 Trulia, Inc. All rights reserved.   |  
Have a question? Visit our Help Center to find the answer