- September 28, 2011 at 1:22 am #231596Raymon RobertMember
Trying to decide if patience is my best friend in this situation as the LO told me today my score was too low.* Basically a single mom trying*to rebuild my life for my kids and myself.*All of the credit negatives are 2007- early 2008 before I was working and when my children’s father (CF)*decided he didn’t need to work year-round and thought the bills would wait.*
- Credit: TU -* 593, EQU – 568, EXP – 619.* TU is the most thorough of the reports, showing all 9 medical collections and 3 public records.* The med stuff is b/c they refused to take small payments and sent me over, so I refused to continue to pay.* As long as it’s screwing up my credit, anyway, why bother.* 3 are due to fall off next year, the others I might try a PFD approach.* The PR, 1 is due to fall off in 2012, 1 is an IRS lien that is PIF (although to my surprise, not reporting that way currently) and* I’m sure I can get that entry withdrawn under the new laws.* the 3rd is a state lien that is PIF and reports correctly.* There are a few lates in the last 12 months on my CF’s home, but I can’t get my name off of that.* It’s under $9K owing, so hoping to get that paid off in 2012.* Utilization is 28%.
- Income.**Income is $50,600
- Source of income.* Salary, plus $700/mo “child support”/”buyout” on the other house
- Monthly debt payments.* $450 car payment, 36 months still left (non-negotiable, not selling/trading, yes I’m stubborn on this one), $85 in student loans, CCs paid off monthly.* There is residual CC debt from the marriage which will pay off in 6 months or so.
- Employment: Fulltime, salaried, in my field which I finished grad school a year ago for.* Stable and moving up
- Assets/Reserves.* $3K in 401K, $1,000 in savings
- Location.* FL
- Property.* Single family, new construction, qualifies for USDA
- Value.* $140,000
- Occupancy.* Primary residence
- Transaction Type.* Purchase
One other qualifying factor is that I have been paying $1200/mo rent for the last 2 years, so can prove that the payment is within my reach.
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