TransUnion Success

[T_C]

Thanks to everyone! I disputed old addresses and an account that was reinserted on my credit report for TU and all the old addresses and the collection were removed! I'm really hoping to buy a home this year, so every little bit counts.

[Trish]

Good deal!
Yes, every little bit definitely counts!

[improving]

That is great news! Good job! We all know it's hard work trying to get the CB's to do the right thing!!

[T_C]

So, I heard back from TU and they deleted an old CA account that was reinserted on my CRs!
I also:
- did a PFD for another collection account and that one should be deleted by next month.
- sent a gw to IC System by mail, then yesterday sent email to their CEO and got a response that the account would be deleted!!!! I was bouncing off the walls last night when I read the email from IC Systems, still have a huge smile on my face.

So, that's 3 collection accounts that will be deleted from my reports. It's really looking like I may be able to buy the house after all. My concern now is the down payment, so I'm hoping for down payment assistance programs...

[Trish]

That's great! You are getting excellent results!

I don't know too much about mortgage loans.......but I have heard of a couple of different loans that I "think" are zero down loans (or very little). One is the USDA loan.....and then another that I just found out about from my bank is called a HLPR loan.....the guy at my bank said it was very similar to a VA loan because it's zero down and they don't require mortgage ins........which will make your monthly payment much cheaper.

Either way, you're mortgage consultant ought to be able to let you know what your best options are. Just be up front with them and let them know that you do not have much to put down and want to try a zero down mortgage loan. They should be able to help you find the right one.

Good luck and keep us posted!!

[Nixer]

I am going through the same thing right now. We tried to get a down payment asssistance loan, but the only option we had was a county program where you had to make barely enough to be able to afford the monthly mortgage payments for the help.

From what I have seen it is going to be your best bet to save the money for your down payment and go with an FHA loan that is 3.5% down or wait till the government makes the 8k avaiable for down payment loan. Which I dont think is very far off.

The USDA loan is a rural loan if thats what your looking for and the HLPR loan is only thru some credit unions and I am guessing there is a salary cap for this also.

We had to re think our budget and proiorites and will have saved up enough money for the downpayment by the end of the summer.
After thinking about all this we also thought that saving money for the down payment was the best idea then you get the whole 8k tax credit to spend on what you will need for the house.

Probably not what you wanted to hear but thought I would share my experience.

[T_C]

Thanks for the info. Since I'm still in the process of cleaning up my credit and raising my scores I haven't really worked with any LO just yet. I've contacted a few, but haven't done any apps, b/c I still need to get to 620. My concern is that since I'm so focused on paying down debt, I'm not saving up for the downpayment. I guess I'll get in contact with the LO I've spoken with to see what my options are. If a downpayment is absolutely necessary, then I won't be able to buy the house this year and can stop killing myself using every dime I have to pay off debt and instead focus on saving money.

I can't do the USDA loan, as I want to live in our city limits (that's a must, for my daughter to go to the school that I had her transferred to), but I'll look into the HLPR loan.

[CreditCrisis]

- sent a gw to IC System by mail, then yesterday sent email to their CEO and got a response that the account would be deleted!!!! I was bouncing off the walls last night when I read the email from IC Systems, still have a huge smile on my face.

i owe IC systems like $645. could you put your email on here of what you sent the CEO so i can tweak it a bit to fit my case?

thanks!

[T_C]

Sure, here's the email that I sent. This was for a medical collection that I paid off in '08:
--
I am writing to follow up on a letter that was sent 5/18/09 (copy attached to this email). This was a humble request for a collection account from your company be removed from my credit reports. This was a medical collection that was paid off by March of 2008. I am a single parent, and was a recent college grad when my daughter needed her tonsils removed, as they were causing her major health problems. When I was able to pay off this account, I contacted your company and was given excellent customer service and a manageable payment plan to get this debt paid off in a timely manner. I appreciated the help I received from the people I spoke with and just wanted to see if it was possible to get this collection account removed from my reports, as I am currently in a position to start looking to buy a home this year and my credit score is greatly affected by this account.

I would appreciate any help with this and hope to hear from you soon. Have a great day!
----

The letter that I sent was longer, but pretty much more of the same.

[improving]

Thanks for sharing the letter and I'm glad you had great success lately!
Though I know it is difficult to find, I know there is still zero down loans out there. But, I'd at least talk to a LO and see what the options are for you first and you can decide what is best, save for home or continue to pay down debt. Or do a little of both if you can and start selling unused items or something to pay down debt.