Monday, May 16, 2016

May Credit Score Update

I open this post by saying I don't think I'm sharing anything too personal. I don't think there is any risk of identity theft or anything by posting my credit score. If you are an identify thief, you're scum and please stop reading my blog.

Below is a picture of my rolling 12-month credit score.

My credit score has dropped due to my house being foreclosed on. October 1st was my last payment on my house, so you can see the effects from that on the chart above. If you're going through a house foreclosure, hopefully this timeline of my credit score can help you forecast/project what yours will be.

It took a few months for the credit score to take a dive. I'm in a pretty lucky spot that I won't have to take a loan out for anything for a long time. So essentially, I don't care about my credit score. Well, I kind of do since I'm posting about it, so I do and I don't care.

I'm going to take this bad situation and use it to help other people. My suggestions when buying a house:

  1. Make sure you want to live in the town for at least 3 years. 
  2. Put 20% down so you don't have to pay private mortgage insurance. 
  3. If you're a young adult who doesn't want to "throw your money away", find a nice duplex from a nice local landlord, and save up your 20% down payment.
  4. Find a non-sleezy realtor. My realtor didn't do jack-crap to sell my house. 


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