Need financial advise

[Mike D]

From what you have explained, the hard inquires can make scores drop drastically. To many inquires, in a short few months, can really hurt a credit score. It will improve with time (which it is hard to be patient), but as an employee of a lender, we look at that. I would reccomend sticking to the timely payments on the credit accounts, and her score will go back up. Even lease applications for rental properties now are a hit on your credit (I know because it happened on mine recently). If she is really concerned about any possible problems and wants to be notified right away about credit inquiries, y'all may consider signing her up for an inexpensive credit monitoring service. I use it because I have experienced identity theft in the past, and I have had to dispute a lot of things on my credit. I hope this helps some!

Credit monitoring services notifies you after an event happens. It's too late then.

[MKH]

Credit monitoring services notifies you after an event happens. It's too late then.

Correct that it monitors after it happens, however, not all hits that occur one may be aware of. It has helped me in disputing things that I was not aware of or were mistakenly reported right away, instead of six months later when I got my credit score. It seems like they are on the right track of staying on top of her credit score, and this was just a tool that I found that helped my score go up after someone had a mortgage and credit card under my ss#.

[Bill]

If she doesn't have cash for a downpayment, I'm confused as to why her credit score on a mortgage is an issue? There are no longer zero-down loans.

I'd suggest she put $100 into a Credit Union to open an account and then sit down with a homeowner loans specialist there and ask what they would need to lend her money from the CU, and how they suggest she proceed. My experience is CUs are more honest with their members than most other financial institutions.

My 2 cents. And the $100 is still hers.