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My credit union in Phoenix told me to wait 2 years before applying for a mortgage, so I did it myself in 6 months.
Last week I closed on a condo after fixing my score from 580 to 680 since January. I used a secured card and paid down a $2,500 medical bill that was in collections. Has anyone else had a lender give them bad advice that just slowed things down?
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phoenix_martin401mo ago
Lenders can be way too conservative sometimes. My old bank told me the same thing about waiting years, but a local credit union got me a pre-approval after I paid off one collection account. It's frustrating when the standard advice is just to wait instead of giving you a real plan to fix things. Congrats on getting it done yourself.
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emma4551mo ago
Sometimes the "wait years" advice is just a cover for not wanting to do the work to check your actual file.
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angela_patel751mo ago
Yeah, that "wait years" advice is so lazy (like @phoenix_martin40 said, it's just them being too careful). I got a secured card too and paid off a small loan super fast, and that got me approved way sooner than my old bank said I could.
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