My wife was diagnosed with breast cancer this year and is in remission right now. Little over three years ago, we made some bad decisions with credit cards and spending. At that time, we chose to settle with 3 credit card companies for smaller amounts. We now have no credit card debt, no car payments, but one rather large mortgage payment.
After the cancer battle and the very real possibility of it coming back, we have decided that we want to try and sell our rather large home with a large mortgage and buy something less expensive. In fact, we would like to go from a $2300/month mortgage payment to a $1000/month mortgage payment.
I guess looking into the future, it would be better that we were less strapped for funds and therefore less stressed on making such a large mortgage payment given everything that is going on.
There are plenty of homes to buy that would put us in that $1000/month payment range. Like many others, our biggest burden will be selling our current home and being able to qualify for another mortgage, one much smaller than our current one.
My credit score right now is hovering at 650. Before the 3 CC settlements, it was 805 so it indeed took a big hit. I am pretty sure no mortgage company would touch me with that score even though I make a good salary.
So I am hoping over time with current payments and such that my score will eventually get above 700. It's probably a long shot, but I am planning on writing the 3 CC companies to see if there is any chance they will remove/change their comments on my report like "Account paid for less than full balance".
If you have any other suggestions to help credit scores, please feel free to share them. Otherwise, I am glad to be here and have a great day.
After the cancer battle and the very real possibility of it coming back, we have decided that we want to try and sell our rather large home with a large mortgage and buy something less expensive. In fact, we would like to go from a $2300/month mortgage payment to a $1000/month mortgage payment.
I guess looking into the future, it would be better that we were less strapped for funds and therefore less stressed on making such a large mortgage payment given everything that is going on.
There are plenty of homes to buy that would put us in that $1000/month payment range. Like many others, our biggest burden will be selling our current home and being able to qualify for another mortgage, one much smaller than our current one.
My credit score right now is hovering at 650. Before the 3 CC settlements, it was 805 so it indeed took a big hit. I am pretty sure no mortgage company would touch me with that score even though I make a good salary.
So I am hoping over time with current payments and such that my score will eventually get above 700. It's probably a long shot, but I am planning on writing the 3 CC companies to see if there is any chance they will remove/change their comments on my report like "Account paid for less than full balance".
If you have any other suggestions to help credit scores, please feel free to share them. Otherwise, I am glad to be here and have a great day.