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Cleaning up credit...want a house...


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Posted by Pamk (64.72.81.16) on January 29, 2003 at 18:38:01:

Hi all.
I have very poor credit and an equally poor credit rating. My debt to income ratio is very good but that is not going to do me any good in the mortgage department at this point in time.
My question is:

How long will it take to make my credit score go up from the 402 where it is now to the point where I will not be laughed out of the bank and can qualify for a mortgage?

I have seen here I think that a mortgage company or a bank wants all of the charge offs to be paid up. I was told by a mortgage broker that if I pay my bills on time for three months and have no lates or derogs and make no more inquiries into my credit report I could qualify for a mortgage and NOT to use my money to pay off the bad debts on my credit report.

How long of a time am I really looking at here? If I do everything the way I am supposed to will it take months or years?

How can I keep increasing my credit score? I am aiming as high as I can go.

Thanks for reading.

Pam


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