Mar 132010
I am trying to purchase a new home and my current middle fico score is 564, would like to get it to 620 – 640. I have 19 accounts with late payments most of them over two years ago. My credit card balance is 31,000. Some of the accounts that are reporting me with late payments are paid off. I am able to paydown my credit card balances significantly but not sure if that will help my score. I am worried that if I pay a large sum to paydown accounts, would this affect my score significantly or would I also need long term good payments? It has been 9 months since the last late payment. I am currently moving and needing to purchase a home this spring. Need advice!