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melcustodio1973

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Credit back on track
I have a judgement , credit cards that charged off 2 years back. Paid repo, another repo cause i lost my job. How can i fix this in the next 2yrs? I want to buy a house and rebuild my credit.

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Think realistically.

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The judgement and repos are items of public record (legal actions) that will remain on your credit report for 10 years and there is NO way they can be eliminated under the law (Fair Credit Reporting Act).

Buying a house will not rebuild your credit and the chance of being able to purchase a house without a substantial down payment in less than 10 years is likely not going to happen.

Work on rebuildling your credit with proper credit card usage and swift repayment of all charges first.  Be reliable in making all payments.  Once you have a demonstrated record of being responsible with loaned money, then you may be able to get a decent rate on a home purchase.

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If you want to rebuild your credit, get a secured credit card.  Use it every month, but only use 10 to 30% of the limit amount.  Pay it every month *on time*. 

If you want to buy a house, do the above but plan on it being at least another 4 years before anyone is willing to lend you money.  I know people that wouldn't even rent to you for another 5 years.

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