I am new here having found the site a few days ago. I have appreciated all of the posts here and hope that I am not redundant with my questions. If I am please show mercy on me, a newbie ) My husband and I are refi'ing our home using Ameriquest Mortgage. Some background FYI: We fell into some financial peril a a little while back ( 2 years ) after my 7 yo daughter spent some time in a burn center. Shortly thereafter, my husband, self employed, had to close his business down for a short period of time as a result of our state's economy going south. He began working with someone else and, of course, his income is not what it used to be therefore some rearanging is needed. Due to the strained nature of our finances, we found that we just could not afford to keep up with our obligations. We did have a reposession of a leased vehicle and we have a mountain of medical bill collections. There are a couple of collections from the cable company and a small dept store charge card. We were shocked that his scores dropped so rapidly. Maybe not shocked, but disheartened nonetheless. Although we will be paying a higher interest rate on the new refi, it gives us an option of paying off all debts and the hope of rebuilding to where we once were credit wise. We haven't been financially irresponsible but I will admit to having given in to the "who cares if it gets paid" mentality due to the stress. Fortunately, our home equity is really really excessive and we aren't tapping into all of it. I don't want to do that. My question is...If we refi, pay everything off, and make all of our mtg pmts on time, should we reestablish a couple of lines of credit to BOOST his scores? I am looking to go through the next two years with a pmt almost identical to the one we have now and then do a rate and term only refi but, the mortgage will be the only open account. I am considering a couple of small loans against a CD or something to that nature. Something that we know we will be able to pay. I don't want the CC debt again but know that those types of accounts, when paid on time reflect favorably in some cases. Any advice? His current scores are 570/543/551, Yes, it sucks especially having been in the 7's and 8's only two years ago.