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Dea, Renter in Lower Lake, CA

fico 567, no debt, have five bad items, medical, total under 1k,want loan for 100k,possible? income 3kper month in calif.

Asked by Dea, Lower Lake, CA Fri Oct 29, 2010

College daughter, great fico, no income, wants to help, maybe co-sign. I have time to pay the 1k, just need to buy now, not a year from now

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Consider a visit with any qualified loan officer(s), after reviewing your overall financials a determination can be made as to loan qualification--your loan officer can/may suggest great ways to improve your credit score in the quickest way if needed--however, do consider handling your negatives first, and keep in mind that a mortgage outside your budgetary constraints can dramatically alter your overall living conditions.
0 votes Thank Flag Link Sat Oct 30, 2010

The problem is going to be your score. you are probably goign to have to pay off the negative items on your credit report and push hard for them to report to the bureaus that it is paid in full. Onceyou receive acknowledgement that they are paid form the collection companies send a letter to all three credit reporting agencies disputing the charges. The credit reporting agencies have to contact the creditor to affirm the debt. if they do not respond in 30 days they are required by law to remove it off yoru credit report.
I have had some clients do this and the collection agencies have never affirmed the debt because it was paid. The credit agencies took it off the report and their score increased enough to qualify them for a mortgage. I cannot guarantee it will work but from my experince this is your best option. it may take 45 to 60 days but once off you should be able to possibly get your score high enough to qualify for a mortgage

Good Luck....
Web Reference: http://www.davedicecco.com
0 votes Thank Flag Link Sat Oct 30, 2010
You might want to consider doing a lease-option.
0 votes Thank Flag Link Fri Oct 29, 2010
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