how can i raise my credit score now is 421 and am trying to buy ahouse in the next 6 months or so ...?

Answer 1

Unfortunately, I am going to say "good luck" with this one. Alternative lending/sub-prime lenders will not even lend to people with 421. That's quite a low score. Unless you have a joint applicant with a much better score, you'll most likely have to wait a while. Only time and good payment history will help out. Don't apply for credit as inquiries will hurt you if there are too many. Depending on how long your accounts have been open could help/hurt your score. Credit scores change all of the time and the FICO scoring method is supposed to be changed very soon to reflect more accurate scoring. In 6 months it will hopefully be above the 500 mark and it might be easier to get a mortgage. Also, try to get your balance to limit ratios under 50% (granted if you can make the extra payments), as that will help your score. Finally, unless you are putting a substantial amount down, it will be extremely hard with a low credit score. Time can only tell! One last recommendation, try a mortgage broker rather than a bank if your situation does not improve.

Answer 2

There is no good or legitimate way for you to sufficiently raise your credit score in six months or so.
You need to resolve your credit difficulties if you are serious about obtaining legitimate credit opportunities.
If you have had difficulties in the past - like bankruptcies, debt charge-offs, and credit card delinquencies - I'm sorry to say but only time and rigorous debt repayment will help you.

I personally resolved my major credit card problems by slowly (and I mean slowly) creating a realistic budget and then paying my credit card balances. By using a budget I was able to allocate funds to several credit cards by paying more than the minimums. Eventually I would pay a card off and then allocate that money to the next card.

If you pursue this home purchase (or house purchase) with your terrible credit, you will be screwed. There are many shady operators out there who will get you a loan with the purpose of STEALING any equity you have in a house purchase.

Equity means any down payment you make or any improvements you, your friends, or family make to the house.

Stay away from a house - they are expensive, until you have improved your financial situation.

Answer 3

Im not trying to be rude, but seriously.. how does a credit score even get that low? I had a friend who ruined her credit about as bad as I though possible and still was only 507.

You are not anywhere near homeownership yet. And if someone did approve you the rates would be so bad you would never make any money. Landlords on the other hand do not care as much abour credit. So just rent for a few years and get that score up near 600 and then see what you can do.

Answer 4

You need to find a qualified and reliable credit repair specialist. Your credit score is 200 points below what is now considered acceptable to qualify for a mortgage. Good luck bringing it up 200 points in six months.

Answer 5

Pay down your debt FAST. I think 6 months is unrealistic. Give yourself minimum 1 year to work on the debt which will boost up your score.

Answer 6

Your not being realistic. It will take closer to a year to raise it up.

Just pay off the charge offs (there is no way you are this bad with only late payments) and it should improve your score a lot.

Answer 7

lexington law is a great credit specialist, they will review ur debt and contact and resolve any debt u have already paid, also if it has been on ur credit for longer than 7 yrs they will dispute it and have it removed, u need to make monthly payments and resolve this bad debt. get on top of this asap!

Answer 8

Jeff Reynolds and Roger Hopkins posted the same question. You should see their answers side by side.

Answer 9

This puzzles me too