My husband and I are trying to buy a home he was injured and now recieves disablilty, we have poor scores and lost $ tring "repair" but

Asked by Daisyette, 15853 Wed Feb 1, 2012

have 10% down. He was hurt almost 2 yrs ago on a fire scene, we have been tryong for years to go through this credit repair and that one lost at least $5000 or more to them. We have paid everything up to current and both his Credit cards hold no balance and are current, but his score will not get to the 620 that we need for most FHA loans, any suggestions??

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8
Brian, Home Buyer, Ridgway, PA
Thu Oct 11, 2012
You might need to get a second job and transfer the credit to your account. If one spouse has bad credit and the other does not, use the credit of the spouse with the better credit to make the purchase.
0 votes
, ,
Thu Feb 2, 2012
Make sure he has at least 3 open accounts, never let the balance exceed 25% of the limit on the card.
0 votes
Annette Levi…, , New York, NY
Thu Feb 2, 2012
Go to your local non profit housing group for credit counseling. The counselor will go over your credit report with you. They will tell you what you are doing wrong and what you should be doing. Listen to them and when your score is 640+ you can think of buying.
Check with your state Attorney General on how toget your money back,
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, ,
Wed Feb 1, 2012
Just to clarify , my credit guy gives free advice, so do I. If the credit guy is to dispute items and collections on the report he charges around $250-$300.
0 votes
Crissy Sprin…, Agent, Amarillo, TX
Wed Feb 1, 2012
Try contacting a reputable mortgage broker in your area. Have them pull your full credit report. An educated loan officer will be able to guide you and help you determine what you should do to give your score the bump it needs. Good Luck!
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Benny Smith, Agent, Pittsburgh, PA
Wed Feb 1, 2012
Yes, Never pay for credit advice.
Pick your agent and go with their recommendation for anFHA lender
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, ,
Wed Feb 1, 2012
Daisyette,
Sorry you had to go through all that. My recommendation is:
1. Have a lender pull your tri merge report asap, get a copy
2. Ask your trusted lender and or trusted credit person to give you advice on how to get your scores to 620
3. Work hard to increase you score.
Note: Your affordability ratios will have to be okay as well, not just your credit. Do you know for sure you qualify for the homes you are looking at? You could most likely use the disability income but that may not be enough (or it could be)..........
Let me know if you need me. My credit guy charges $250-$300 max and I give free advice and can pull your report for free.
Good luck!
Chad
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Don Tepper, Agent, Burke, VA
Wed Feb 1, 2012
Work with a good loan officer or mortgage broker.

There are too many stories like yours about "credit repair" services. I'm sure some are legit. But many overpromise and underdeliver.

Find out from the loan officer or mortgage broker what's continuing to hold his score down. That's the key point.

Hope that helps.
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