Need Advice On Clearing Credit/Getting Mortgage

Credit and mortgage advice Forums Home Mortgage Need Advice On Clearing Credit/Getting Mortgage

This topic contains 0 replies, has 1 voice, and was last updated by  Anonymous 6 years, 7 months ago.



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    Anonymous

    Hi, I have some issues and need some advices. My credit score is 601 equifax 619 experian. I’m not sure what is TU because I didn’t pull it.* My game plan is to buy a house hopefully by next year.* I’m hoping to qualify under the FHA.* My gross income is 70,000.* Have about 10,000 in reserves.* I have 4 credit cards (all opened 1/11 and have no late payments. My problem is the negatives on my credit report.* I pulled up my credit report. And it showed charge-offs from 2007-2008.* I’m not proud of them and it was a bad time in my life.* Since, I graduated from college, I have been working on rebuilding my credit so that I can buy my first home.* I’m not sure what I should do with my charge-offs. I counted my charge-offs, there are 4 of them.*They total to $2500-3000.* One person I spoke with told me to not touch my charge-offs if its over 2 years old. But when I do apply for a loan, I don’t want it to come back and haunt me.* One of my charge-off is still reporting. Is that possible? Last payment was in 5/08. Also, I wanted to know if it’s possible for me to get approve for a 300,000 loan with 70,000 gross income and only 2 years of employment history? *Thanks!!!!



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