Home Buying in Grand Prairie>Question Details

Graponce04, Home Buyer in Grand Prairie, TX

1ST TIME HOMEBUYER, BUT CREDIT IS POOR DUE TO OLD ISSUES THAT ARE ABOUT 7-8 YRS OLD..HELP FOR PREAPPROVAL..FICO SCORE IS 527

Asked by Graponce04, Grand Prairie, TX Mon May 7, 2012

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Credit repair could be your saving grace. It can get expensive. Pick a good company. You should also consider getting a prepaid bank credit card that you pay on like a credit card. If you make your monthly payments for 6 months that will help establish revolving credit and help your score rise. Lenders typically do not look that far back unless there is a major outstanding balance, bankruptcy, or repossession. I would recommend Omega Credit Repair tell them I sent you!

Best of luck!
Lisa Montes-"Your Home Retriever"
yourhomeretriever.com
817-201-7388
yourhomeretriever@gmail.com
0 votes Thank Flag Link Thu May 10, 2012
I have recently since Febuary been working toward fixing my credit, I enrolled into Wells Fargo Identity Theft Protection and have disputed alot of the issues that i have on there from long ago, I did receive notice that alot of them would be coming off but still have not and the only thing that I have now is 1 credit card from Chase, since I work for Chase they did extend me a credit card, and also I have student loans but I have nothing in default at this point. I got the score from pulling my credit, I do it once a month, my first score is about 540, middle is 527, and the last one is at about 515, my score did drop about 10 points from last month. I havent really done any re-establishing, but now that I have seriously considered purchasing a home is when im trying to play clean-up and take steps toward rebuilding my credit.
0 votes Thank Flag Link Mon May 7, 2012
Is 527 your mid-score? Have you re-established your credit since 2004-2005? Have you spoken to a lender? Lenders are looking for a mid-score between 620-640. Paying off a charge-off that is from 7-8 yrs ago could possibly lower your scores. Only settle & pay if creditor agrees to take it completely off of your credit reports. I will be more than happy to assist & guide you through the process. Call me when you get an opportunity. I look forward to hearing from you!

Make it a Great Day!

Tamika A. Goree
Associate Broker
972.697.1178 call/text
tamika.goree@live.com
0 votes Thank Flag Link Mon May 7, 2012
While old issues are weighed less heavily.... It appears that you have not established any good credit since you went thru this rough patch years ago. Otherwise, the score would be higher.
Where did you get that score?



Tom Burris
Mortgage Banker
DallasLoanGuy.com
(214) 763-4629 cell/text/nights/weekends(Really!!)
tomburris@dallasloanguy.com
Lending all across the entire Great State of Texas!!
NMLS# 335055
Search Dallas area MLS for FREE. No registration => http://www.ntreisinnovia.net/cgi-ntr/BR_login?0501134
0 votes Thank Flag Link Mon May 7, 2012
You need resolve those past issues increase the scores 625

Lynn911 Dallas Realtor & Consultant, Credit Repair Advisor
972-699-9111
http://www.lynn911.com
0 votes Thank Flag Link Mon May 7, 2012
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