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Old 01-28-2018, 03:18 PM
 
100 posts, read 77,211 times
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I have researched this forum, and online. My next step is to just call a mortgage broker. The problem i'm having is trying to get an idea of what my true FICO score is. We will be selling our house in CA in June, maybe, and retiring. There is a lot of conflicting info, on different types of FICO scores. Our credit is not perfect, but when we retire and sell, all debts will be paid. I am looking at approx 220k home, with around 11-1200 payment, that my wife's disability will cover. I would just like some legitimate leads on how to get my score. Thanks
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Old 01-28-2018, 06:36 PM
 
2,142 posts, read 1,083,353 times
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Quote:
Originally Posted by gsc3zny View Post
I have researched this forum, and online. My next step is to just call a mortgage broker. The problem i'm having is trying to get an idea of what my true FICO score is. We will be selling our house in CA in June, maybe, and retiring. There is a lot of conflicting info, on different types of FICO scores. Our credit is not perfect, but when we retire and sell, all debts will be paid. I am looking at approx 220k home, with around 11-1200 payment, that my wife's disability will cover. I would just like some legitimate leads on how to get my score. Thanks
Since you state your credit is not stellar, spend the extra money and obtain the full reports from myfico.com.
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Old 01-28-2018, 06:38 PM
 
7,911 posts, read 5,053,370 times
Reputation: 8336
Quote:
Originally Posted by gsc3zny View Post
I have researched this forum, and online. My next step is to just call a mortgage broker. The problem i'm having is trying to get an idea of what my true FICO score is. We will be selling our house in CA in June, maybe, and retiring. There is a lot of conflicting info, on different types of FICO scores. Our credit is not perfect, but when we retire and sell, all debts will be paid. I am looking at approx 220k home, with around 11-1200 payment, that my wife's disability will cover. I would just like some legitimate leads on how to get my score. Thanks
You can get a free one online from places such as Credit Karma. i use it as a free service and it sends you free updates every few months if your score changes if you want.

Some credit cards also now offer your credit score for free too.
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Old 01-28-2018, 07:11 PM
 
2,142 posts, read 1,083,353 times
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Originally Posted by LifeIsGood01 View Post
You can get a free one online from places such as Credit Karma. i use it as a free service and it sends you free updates every few months if your score changes if you want.

Some credit cards also now offer your credit score for free too.
Hereís the problem- the OP states he has no clue. CK does not provide all the scores nor the individual account details. Unless your are already on top of things (which he is not), better IME to spend a little to rectify all info in your credit history. Especially handy when you are ramping down to a fixed income as he has stated.
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Old 01-28-2018, 07:49 PM
 
100 posts, read 77,211 times
Reputation: 195
Quote:
Originally Posted by damba View Post
Hereís the problem- the OP states he has no clue. CK does not provide all the scores nor the individual account details. Unless your are already on top of things (which he is not), better IME to spend a little to rectify all info in your credit history. Especially handy when you are ramping down to a fixed income as he has stated.
. i hear different opinions on the free reports you get, some say the reflect fico, others say they dont, any recommendations on a service to rectify my credit history? its not bad, just the score is low, according to the free reports. i also have a lot of debt which will be paid off by end of year
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Old 01-28-2018, 08:06 PM
 
2,142 posts, read 1,083,353 times
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Quote:
Originally Posted by gsc3zny View Post
. i hear different opinions on the free reports you get, some say the reflect fico, others say they dont, any recommendations on a service to rectify my credit history? its not bad, just the score is low, according to the free reports. i also have a lot of debt which will be paid off by end of year
Itís not an issue of opinion.

Understand, unless your bank or credit card company offers the *full* report (not just a single numerical score) for free, you have to pay a nominal fee to obtain the granular info regarding your credit accounts and/or loans, plus all three scores.

At the end of the year you should see your scores increase a little. To properly rectify any errors, buy the full product @ myfico so you know clearly what the problem creditors are, etc.

Good luck.
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Old 01-28-2018, 08:17 PM
 
100 posts, read 77,211 times
Reputation: 195
Quote:
Originally Posted by damba View Post
Itís not an issue of opinion.

Understand, unless your bank or credit card company offers the *full* report (not just a single numerical score) for free, you have to pay a nominal fee to obtain the granular info regarding your credit accounts and/or loans, plus all three scores.

At the end of the year you should see your scores increase a little. To properly rectify any errors, buy the full product @ myfico so you know clearly what the problem creditors are, etc.

Good luck.
thanks, i believe i can correct everything on my own. i just want a true score
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Old 01-28-2018, 09:22 PM
 
2,142 posts, read 1,083,353 times
Reputation: 1752
Quote:
Originally Posted by gsc3zny View Post
thanks, i believe i can correct everything on my own. i just want a true score
Sometimes you actually have to jump through a lot of hoops if thereís something wonky on your report, unknown to you until you happened to check. Donít wait to pay for a full report so you have time to get things done before you get another mortgage. CYA

Good luck.
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Old 01-29-2018, 06:19 AM
 
Location: MID ATLANTIC
7,384 posts, read 16,784,317 times
Reputation: 7652
OP, part of the problem is the fact your credit score is a constant moving target. An extra 30 days since a delinquent payment could easily add 10 points to your score, while one late payment just recently can hurt 50+ points. The more time since the occurrence of a late payment, the better the score.

As you are finding out, not all scores are created equal, including myfico, which is only one of the 3 scores. Mortgage lenders use the middle of the 3 scores available to them from Equifax, Transunion, and Experian. So, if your FICO is the highest of the 3, you will have a false sense of security. And if the lowest of the 3, you could be left out needlessly. My experience (actually, any lender's) with Credit Karma is that it is unreliable for lending purposes. At best, it can provide a trend. My last comparison was just over 40 points off and the difference of being able to move forward.

OP, learn the difference between a mortgage broker and a mortgage lender. Then contact a mortgage lender to pull your credit. A mortgage broker pays out of their own pockets for the reports and may not be inclined to counsel you or they my encourage you to go with a sub-prime loan (yes, they are back). A lender will analyze your credit and advise you how to improve your scores.

One sentence in your post concerns me, "when we retire and sell, all debts will be paid." Scores improve with the passage of time once they are paid in full. If they are accounts in collection status, paying them off can easily bring the dates forward and make the collection appear as if it happened yesterday, actually worsening your scores. Yes, an instant (36 hours) rescore is possible, but it can backfire if the accounts are already closed or in collection and why having 6 months passage from payoff could be very important.

A couple things - never close a revolving account with a balance. The creditor can take your rate to your state's usury (max legal rate). Always ask for a payoff or settlement in writing. If you know your credit is questionable, make sure whoever pulls your credit has the ability to restore, if necessary.

You need to find someone to assess your credit and do it without giving permission to everyone permission to pull your credit. Low scores are already at risk to be affected by multiple pulls.
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Old 01-29-2018, 09:00 AM
 
7,911 posts, read 5,053,370 times
Reputation: 8336
Quote:
Originally Posted by damba View Post
Itís not an issue of opinion.

Understand, unless your bank or credit card company offers the *full* report (not just a single numerical score) for free, you have to pay a nominal fee to obtain the granular info regarding your credit accounts and/or loans, plus all three scores.

At the end of the year you should see your scores increase a little. To properly rectify any errors, buy the full product @ myfico so you know clearly what the problem creditors are, etc.

Good luck.
You are actually allowed one free copy per year of each agency, Exquifax, etc once a year. The score you do have to pay for from them, but that's easy to obtain online.
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