Help me to explain this to DH!

Tips and Deals Forums Home Mortgage Help me to explain this to DH!

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    Since joining MyFico I have learned so much about credit scoring, mortgages and my reports so I feel very knowledgeable about the credit process. DH and I are gearing up to buy a house ASAP. His scores aren’t high enough (500’s) and we don’t think we will be able to get them up by the time that we want to buy so we plan to put the mortgage in my name only. The thing is my scores are not high enough either yet (648 TU, 607 Eq) but I’m hoping to get two collections deleted to boost my scores. He wants me to apply today to see where my EX is and “HOPE” that it is at least 620 (need a mid score of 620 for FHA). I explained to him that this is not smart! One of my collections is from 08/2011 and I have read that for FHA loans you cannot have any negative reportings within the last 12 months. He thinks that we can get passed this. He keeps telling me that paying off a collection will help your score and I’ve tried explaining to him that it will not. I don’t want to waste an inquiry just to be denied. He doesn’t read the forums or much about credit so how do I explain this to him?

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