Posted on: 25th Feb, 2010 11:52 am
my credit scores are 666-536-597 . I applied for a loan and was approved with no open line of credit, but have 1
good closed credit that was paid for in June 2009
I have been shopping for a house to buy but have had no luck. My loan expired in January and now the lender says the new credit report he pulled has no score. How is that possible? I have no recent negative activity
and i have done nothing to change. What would cause my score to go down to o in just 3 months. Can i qualify for a home loan with those scores?
good closed credit that was paid for in June 2009
I have been shopping for a house to buy but have had no luck. My loan expired in January and now the lender says the new credit report he pulled has no score. How is that possible? I have no recent negative activity
and i have done nothing to change. What would cause my score to go down to o in just 3 months. Can i qualify for a home loan with those scores?
Probably because you have no active credit and the closed accounts are old.
i buy everything with cash how is that fair to punish someone that wants to pay for everything in cash instead of going into debt.
I agree but, lender's want to see that you have the ability to handle credit on a monthly basis. Remember, they're lending large amounts of money. They want to certain you will capable of paying them back.