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Credit Score in 97203 : Real Estate Advice

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  • Home Buying4
  • Home Selling5
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Activity 2
Sun Apr 29, 2012
Lana Lavenbarg answered:
YOU should pay off everything as quickly as you possibly can- then take the paid receipts or email copies of them to the three credit reporting agencies with the reasons WHY you had the problem in the first place. I have had clients that have done exactly that and while the information may stay there for 7 yrs...lenders will see that in good faith, you did pay them ALL off and I do mean ALL and have an explaination as to why this happened to you. The lenders will look at that in addition to your scores to see if you are a good credit risk. I am proud of you for taking responsibility to get that cleaned up. Good luck in your endeavors and I wish you well - and GREAT CREDIT!! ... more
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Tue Nov 10, 2009
Greg Knox answered:
The FHA does not require a minimum fico score but they do not give you the loan, a lender does. The lenders are the ones who put the credit score minimums on the FHA products. the reason is, FHA insured or not, lenders don't want anything to do with a loan that goes bad and a borrower with a very low score is much more likely to go bad. ... more
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