I have an unpaid collection on the EQ and EXP reports concerning a car repo that is due to be taken off April 2004. It's been sold to a CA and they report it as $14000 due to them. It came off my TU this past CHOD. I'm looking to apply for a mortgage of around $100,000-$130,000 in a few months and looking for some advice. My TU FICO is 725, 668 for EXP and something similar for EQ. I have some credit card debt that I'll finish paying off next month and my EXP and EX scores should rise to right around 700 as a result for this. I also make around $60K a year so income isn't an issue. I disputed the neg again and I am waiting on the result. If it doesn't come off do you all think I should just apply for the mortgage or should I risk trying to delete the neg? They have long given up trying to collect and I'm afraid that since it's for such a big amount they will make waves and maybe sue me.
Your scores are real good. I think you only need a middle score, from all three, of 620 and you can get a competitive rate. Basically you don't have to go sub-prime.
