I have a question regarding buying a home. I am 29 years old and am getting married early next year. I made some financial mistakes when I was 19-21 and defaulted on a credit card (balance of about $700), a heilig meyers account (balance they say I owe now is $1400, but it is so long ago, that I am not sure), a student loan of $1000.00 (that I have since paid off) and a couple of late payments on a car I owned. The credit card account was not on my CR when I pulled it in Dec '07, the Heilig Meyers account was not on there, the Student Loan shows that it has been paid and closed, but there are late payments marked, and the car payments that were late were showing up. I have been paying on time each month with my current car since 2006 and I don't have any other lines of credit going. I have some misc. medical bills in collections, but have been afraid to touch them because they are from 2004 and I wasn't sure how to handle them. I apologize if this is confusing, but I am basically trying to ask if I have any hope of obtaining a mortgage. I am very new at understanding credit and have been reading the boards on this site to gain more knowledge. I appreciate any input you have.
It very well may be possible to still qualify for a mortgage. Take a look at my website and give me a call if I can be of help. FYI - I am located in Central Florida but am licensed in nine states which are listed on my website. Al Branch Manager Primary Residential Mortgage Inc.
There are many factors which go into approval for a mortgage, not just your credit report. But looking at that, you need to determine what your credit scores are for all three Credit Reporting Agencies (Equifax, Experian and Transunuion). Go to www.myfico.com to get your scores. Check out the forum thread for discounts on MyFico. So, first things first, get your credit scores, and you'll have a better idea where you stand.
i agree with bizwiz. you need to check your credit scores first. the higher it is, the better chances you're going to get a mortgage.
The second order of business would be to have a mortgage-coded tri-merge pulled now in order to flush any JDBs who will violate the FDCPA out of the woodwork early so you can make some money off them (for the violations) rather than having things work out the other way around.
