June 24, 2009

Improve My Score Fast Please!

I have been in Escrow for the past six months. We were approved by a private lender and the BOA through the builder.  We have not been able to lock in a rate and we have not chosen our loan agent yet. We are waiting for a new home to be built.

I recently checked my credit score on creditreport.com and was shocked that my credit score was 587!  I contacted my realtor and she said I am may not be able to get a loan.  I am wondering if it is because of the credit inquiries and because I paid off a an old collection acct. a couple of months ago. 

I have been current will all my credit cards.  My lender mentioned rapid rescoring.  How many additional points will I be able to get with rapid rescoring?  Can I obtain enough so I would be able to qualify for the FHA loan? 

Any information would be super helpful.

Michelle (more…)

October 23, 2008

What’s The Rescore

Filed under: Rapid Rescore

Hi Paul,

My husband and I are in the process of buying a home and we were working with a mortgage broker who said he could raise the credit score to the mid 600s so we can qualify for a FHA loan and get a good rate. However, since he’s claimed to be working on increasing the credit score, it has gone down 10 points. I ordered a copy of my report and saw that he pulled the credit 3 different times and that there are several inquires that I didn’t authorize. I think this reduced my score. What can I do about this?

I also paid on a judgement and lien years ago but it is not reflecting on the report. I filed a dispute with the CRA.

From reading your site I became aware of rapid rescoring. Should I ask my mortgage broker to do a rapid rescoring to improve my score so we can get the loan? What do you suggest?

Mary (more…)

December 24, 2007

Rapid Rescore Catch 22

Feels Like IronyI had a credit card from Capital One in 2001 I fell behind never paid and a judgement was filed 2004 for $1670

In trying to buy a house now I see that this same account is in collections for $2406 and it states on the credit report “Account closed at credit grantors request”. 

Can I have a judgement and a collection at the same time.  The collections date of last activity was 10/2002 

I am trying to get a rapid rescore and the rescore increase is based on me bringing that balance in collections down to $10.  I want to pay it off. No matter what, I am going to still have the judgement on my report even if satisfied what should I do. 

I am so confused.  I am trying to increase my score and satisfy the judgement at the same time. 

They have me in a catch 22 situation.

Carol (more…)

December 10, 2007

Lien & Mean

Paul,
 
A client of mine had a state tax lien from hillsborough county revenue for sales tax put on his credit report (it is still showing on xpn, but has been taken off of the others.)

The lien was placed on his credit on 10/6/99 and was paid and satisfied on 12/22/99. This is still killing his credit and my question is: can it be removed??

It has been removed from efx and tu but not xpn–no coincidence that is his lowest credit score. Please advise.
 
Also, can you tell me why there are 2 efx reports pulling at the same time? What’s up with that? Thanx.
 
Matthew

(more…)

December 5, 2007

Last Minute Rescore

I was supposed to close on Friday on new home but broker tells me that HSBC have recorded negative info about me for a problem that happened several months ago, this dinged my score by 100, I need to get it back up quickly, I can pay HSBC the full balance but will it do any good? How do I get my score back up quick?

Keith (more…)

August 22, 2007

Fast Credit Repair

How to raise my credit score fast

Kathy (more…)

August 13, 2007

Free Rapid Rescore

Paul,

Is there such a thing as a rapid rescore for FREE?
Im a mortgage broker, and have heard its possible. What is the exact process ifi it exists at nocharge

Thank you,
WIlliam (more…)

July 14, 2007

ITIN Mortgage

Hi- we were supposed to close on our new house today.  First we were supposed to attend the closing of our old house; we needed the proceeds for the new house.  Unfortunately our buyers had last minute problems with the underwriting office.  Apparently the buyer’s wife had to show proof of apartment rental over the last year.  She used a fake social security number (or someone else’s number) to get her apartment. She may not be legally in the country although her husband is, and their lender is using his financial info to secure the loan.  When she and her husband applied for the loan to buy our house, she used her tax ID number instead. So—-her social security number and tax ID number don’t match, and consequently the paperwork was unacceptable, and nobody closed today.  This has been a nightmare- we’ve had to call the utility companies to keep our lights, water, phone and gas on, etc.

Anyway- my real estate agent said not to lose hope- apparently the buyer’s lender is going to try a rapid rescore.  Could you please explain how this could help if the buyer’s wife is illegally in this country?

We’re trying for another closing day on Wednesday, July 18.  I’ve cried a lot of tears over this.  We worked very hard to get this deal done and now it’s fallen apart before our eyes.  It’s a distinct possibility that we may have to scratch the whole deal, put our house back on the market, and lose the home we were going to buy.  Please advise what you think, and thank you.

Kat (more…)

July 1, 2007

Opt-Out Prescreen Me

I am currently trying to refinance my home.My credit score was 626 and I had a broker offering a 6.75 thirty year fixed, and was going to go with this. A week later, after not hearing from him, I finally got him and he said my credit score had gone down to below 620 in a week. He didnt know why but speculated it could be my current mortgage and I also thought it might be credit inquiries that weren’t authorized.

  Today, I got call from another broker who said he could beat the 6.75 rate because he could raise my credit score dramatically in 7 days by doing something that required my SS#. Now…he offered to do this magical thing for me if I would guarantee him my business, which of course I would not. My guess is that he is talking about the optout program. Am I correct in this assumption?..as I need to bring my score back up over 620 quickly.

Debbie (more…)

June 16, 2007

Rapid Rescore from 677 to 680+

Hi Paul,

Because of the subprime meltdown, these days missing   several points on your credit score is enough to turn hope and dreams of that house into pure oblivion.

A case in point, I am at 677 and desperately need 680 to make Fannie MAe happy nad get a better rate. My only deragatory is a late payment over 2 years ago. What can I poosibly do in the shortest amount of time to squeeze out 3 points.

Any constructive advice would be greatly appreciated..

Sincerely,
Tina (more…)

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