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QueenKM1

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How can I improve my Credit Score from 546 to 646 in 7 months with recent Rental Apt Debt?
I want to purchase my first home. My exhusband left me with $8000 in rental apt debt. My score has taken a serious hit to 546. I started out as of January 1st with 17 collections. I now have fewer than 5 collections left, 1 credit card for $500 and 3 student loans in deferment. I was told I have to have a zero balance paid off on the old rental apts before I could go for a house mortage loan. Is that true? They also what me to save $8700 as well. I am a single parent of 4 with one in college. Could I just make a payment arrangement for the old rental account, pay on time...will that better my credit score? Would this help me get the morgage loan? I can't do both paying off $8000 and save $8700 within 7 months. Someone please help me and give me some guidance, some wisdom and some advice!!!!!

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your a parent of 4 and saving you have the option to do atleast one in 7 months which means saving $1,200/month thats insane.....and with your credit score being a 546 your options are limited.....the big question is do you need a house right now why can't you stay were you are now for say 12 months an additional 5 months from your planned 7 save $6,000 more dollars at the rate you'd be havingto go to save $8,000 in 7 months and then buy a house in 12 months in a better financial position and in the mean time could build up your credit in that year

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