Ok I'm brand new to all of this.
This thread looks like the best place to ask the two basic Questions I have.
I was searching on CL, FHA, and HUD, and found some great deals. Then I got stopped in my tracks. because of credit problems. For one I don't have credit cards. Not even a debit card. I am on disability. So I have very little income. but enough to get a 30,000 dollar loan with "Good Credit" (620) or higher.
However when I checked into my credit score. I could not get one. It came back as "not enough information" I did notice that there were two things on there that went to collections, both were medical. One got paid last month from a program that I qualified for from the hospital. The second I had no Idea it was even there and is 5 years old. going back to when I was waiting Social Security to kick in. I was on Medicaid at the time and everything should have been covered under that.
As far as my rent I have been living in the same house going on four years. I have never been late on rent in that time. My bills I stay up with for the most part, No shut off notice. But I have gone past the dew date in the winter a few times.
One of the Realtor's I talked to suggested getting a secured credit card and pay my monthly bills using that.
Question # 1)
Realistically how long will it take to get a credit score of 620 or higher that way?
Situation # 2)
I want to move from where I am. I live in a small town in Western NC. there is nothing here for me to do. My son is going off to collage this fall and I have no reason to stay here. Plus the deals are better where I want to move to. About Two hours east.
Will moving now affect me getting a loan when I do get a good score?