chaggitto

This is a very "unique" situation, I believe I even mentioned it on another thread. I'll try to make it as short as possible and easy to understand. I really need an advice as I believe I've exhausted all options. I had an account ( gas company ) that the agent who helped me set it up made a mistake and created 2 accounts, under the same name, same social, same address only different units, one was apt 502 the other unit 502. Because "unit 502" does not exist I never received a bill for it and kept paying apt 502. Here is when things get interesting, I was sent to collection for the account that should have never existed and I have called the gas company 12 times and they said that I am correct and that they will send the information to their collection department to have it corrected but it has been 12 months since this issue and nothing has happened so far. I have also disputed with Experian but they "verified " account since it was under my name with my info. I was thinking maybe writing a letter to have the gas company remove this information since calling them has done nothing, I am just not very familiar with the process and the type of letter I should right. By the way, the amount I was sent to collection for it was paid and when they figure out the mistake they applied a credit onto the real account, which tells me they knew this account should have never been open in the first place. So guys, what should I do ? Thanks,

This was actually done back in 2009 and the companies ( both USAA and EX) saw tremendous lost and was later changed to the unlimited that we all loved some much. I do hope that as before, we could get unlimited pulls once again. BTW if someone could explained to me what B* and C$ means I'd really appreciated. If you cant post the answer here please send me a PM. Thanks

Update :: Well I got off the phone today with the condo association and they had no idea what a condo ID was, they told me they were FHA approved but not sure if VA approved. I have done some research and seems that to have the VA approved a condominium is no easy task and it's very time consuming. Thanks everyone for the info provided but seems either I need to look elsewhere or deviate from the VA loan and just get a regular loan.

Actually when you add to the CD the credit limit increases instantly, no need to wait. I stated with a 250$ limit now I use my CD as a savings account and have accumulated 1,800$ which is now my limit + the tiny bit of interest I have gained. This helped my score tremendously and thanks to this card I was approved for my first ever auto loan a while back and now I'm in the process of maybe owning a home soon.

I have been on the phone with them a few times lately and in order to get a VA loan you need to have a middle score of at least 620. hope that helps

Thank you SO much for this information, I know for a fact that it is FHA approved. Now my question to you would be, when I call the VA, is there anything specific I should be asking ? how do I get a "approval" from them so that I can tell the bank that it is VA approved or should I just get condo ID and give it to the lender ? Also general question for everyone else. Is there any way I could find other lenders in my area that would be willing to do a VA loan ?

I fully understand this BUT. I checked before and the condo I would like to buy in is actually FHA approved, not sure if this means better chances of getting it VA approved. Also it is not "new" almost all units are occupied and are privately owned. Also USAA IS actually charging me for the application fee I believe is 50$ and some 500$ processing fee I believe. I thought about going the FHA route but that would involve a big down payment and the rates are a bit higher. I honestly thought the whole process would be a bit easier but facing the reality has actually disappointed me also. I believe I mentioned before but so far. I meet the credit score requirement also have the VA certificate as well as proof of income and where the money is coming from. However I still need to see if the condo is VA approved which I will try contacting the VA tomorrow to see how this works or what needs to be done. Thank you guys for all the info. I think this condo is a great deal and I would hate to pass on it.

There are other people who can talk about this with more qualifications than me, but here are some of my thoughts anyhow --- 1. Are you in a market where a $90,000 condo is going to appreciate? It doesn't have to. Sometimes getting a $90,000 condo is the right decision regardless because it's the only way to get in the area you want (especially inner urban areas) with the kind of amenities and still be something resembling affordable (which is always a relative term, isn't it?). The reason I ask, is if the condo isn't going to appreciate, getting a VA 100% loan can leave you in a difficult situation when you go to sell. I am in the market for a 90,000 condo, however I had a local bank do an appraisal on the place a few months ago and it was valued at 120,000$. So right from the beginning It'd be a good investment 2. Condo loans have been hit the absolute hardest by the financial debacle. They are much more scrutinized. Make sure sure you can do a VA loan on that complex. That's probably why they're asking for the Condo ID. I do plan on speaking to my condo office to get the building office and do the best I can to have the VA approve me for a loan at the complex I want. My family owns another 8 condo in the same building and I know that this could be a great investment. 3. I've never heard of a bank getting a certificate from the VA. I've always had my buyers get the certificate before they even begin to think about applying for a loan anywhere. This part is strange. 1 agent would tell me " I had to get it " the other said " USAA would be the one getting it" either way since I was not making any progress I had time to order one which I got a few days ago. 4. Nearly all lenders in my market are willing to do a VA loan. You don't have to go through USAA or Navy Federal to get one. Are you sure you wouldn't be better off going with someone local? It's important that they know what they're doing regarding VA loans, but being able to have a loan officer responsible for the file might be a tremendous help for you, versus the call in jungle you're putting yourself in with USAA. This is my next step after trying one last time with USAA. I have an auto loan, auto insurance, Credit Card, CD, so I figured doing everything with one bank would be less painful then with a local bank. But I will be talking to other banks to see what my options are. 5. You're putting money down on a VA loan? Why exactly are you getting a VA loan for $90,000 and then putting money down? It's none of my business, and I'm not really looking for an answer, but it puzzled me. I am no genius as you can see when it comes to this since it's my first time but I thought putting money down would help me out to get better rates or monthly payments. I was not planing on putting a huge amount or anything. But why the question ??? 6. They need to document where your money is coming from. That's true for anyone, not just USAA. If it's going to be an issue, have the money in your account for a couple of months, then apply for the loan. This is what I was told to do, so I am in the process of doing just that. Honestly, I would love to see you have someone at your disposal that knew what they were doing who could meet with you face to face. I have no idea what part of the country you're in, or what options you have at your disposal, but your story would frustrate the heck out of me if it was occurring to me or someone I work with. It its frustrating specially since every time I called I was told something new to make things harder when they could have set the right expectations from the beginning. I do wish you good luck. Thank you so much, I hope this ends with a happy ending

I have been trying to get a VA loan for some time, this will be my first home purchase and to be honest this has to be one of the hardest thing to do. As I've posted before I have USAA and so far here's the progress I've made with them. 1st call. We run my credit I meet the requirements but they said I need a certificate from the VA, even though a previous agent had said that was the bank's job to get. I go ahead and wait a week or 2 for this to come in. 2nd call. Different person helping me out and this one seemed he was rushing to go home, and everything that he said sounded as if he was steering me away from actually going through with the application. At the end he tells me that I need the Condo ID number and that without this I could not get approved. I went ahead and told him that this is the first time I hear about this and if there was any way to just complete the application and see if I was fully approved or not and then worry about the condo ID. Sadly he said no way around it. 3rd call. I call back just to speak with a different agent. Now they are also telling me that there is a bunch of rules that might prevent me from actually getting the loan. He said if I put any money down I need to show where this money came from since the money being used is not coming from one of my accounts with USAA. I explained to this person I have a property in another country, and he tell me that I would need the property's tittle and insurance. Now at this point I am thinking I might be better off without the VA loan since it seems easier to save up the $90,000 for the condo then keep dealing with this. Is this how it is with all VA approved lenders ? At this point I just want to call it a day but I was really looking forward to buying my own place here. Anything that anyone here could advice me? Sorry for the rant.

Thanks for the info. Thanks this is actually the form I was referring to.

Hey guys I have 2 questions. This is my first time applying for home loan so pardon my ignorance. 1. ) I recently apply for a VA loan with my bank (USAA), but my credit was JUST below the 620 minimum. This was because I had a high balance on some accounts, I have since paid all my cards in full. Now the question is. Since I applied for a loan this month and was declined, is there a minimum amount of days that I need to wait in order to re-apply ? ( sorry I would ask my bank but because of my working hours I am almost never able to call them during business hours ). 2. ) When they ran my information they said that for some reason they could not find that I serves in their system, the lady said I needed to fill out but I forgot what form it was. Does anyone know what form this is ? She said I needed to fill it out and mail it to the VA office I believe and also does anyone knows what the turn around is ? Thanks for the help guys.

I actually didn't know. But thanks either way

Your Age? 25 Your Equifax Credit Score? 585 Your Experian Credit Score? 680 Your TransUnion Credit Score? 600 How many years have you been on file with Equifax? 4 How many years have you been on file with Experian? 4 How many years have you been on file with TransUnion? 3.2 I am not 100% sure on this one YOUR PREVIOUS AUTOMOTIVE CREDIT HISTORY Do you have an open auto loan? Yes Will this open auto loan be a trade-in? Yes How many late pays within the last 12 months on the currently open loan? 0 How many late pays within the last 13-24 months on the currently open loan? 0 Your current open auto loan is financed with? USAA Your current open auto loan payment is? 302$ Estimated amount you may be upside down in this vehicle? 0 Rate your payment history on this open auto loan from 1-10 (1=poor:10=Best) 10 YOUR REVOLVING CREDIT HISTORY Total number of revolving account(s) you have? 4 Total percentage utilized overall? 50% How many of your revolving accounts are store cards? 1 How many of your revolving accounts are major credit cards? (i.e. Amex, MC, Visa) 3 How many of your revolving accounts are known subprime credit cards (i.e. Aspire, 1st Premier) 0 YOUR PERSONAL INFORMATION How long at your current residence? 5 Years + Do you Rent or have a Mortgage, or Live w/Relative or Other? Rent Your Monthly Rent or Mortgage payment? 250$ How long have you held your current job? 3 Years Your total provable monthly gross income is? 3,000$ Your provable monthly gross income is provable via what method? (i.e. computerized paycheck stub, or tax return) Computirized check . Is there additional monthly income? What amount monthly? 0 Describe the source. Is the additional monthly income provable? N/A Spousal income is not applicable. YOUR DOWNPAYMENT Please tell me your exact down payment in cash? 2,000$ Does any credit repository contain any Public Record? no If yes, please very briefly describe. Does any credit repository contain any Collection Account(s)? Yes If yes, please very briefly describe. One 80$ Gas company bill which is being disputed now it was over 6 months ago One agreed to pay for less then the original amount personal bank loan about 4 years ago Please rate your overall creditworthiness on a scale of 1-10 (1=poor, 10= best) 7 Please rate your Installment credit history on a scale of 1-10 (1=poor, 10=best) 10 Please rate your Revolving credit history on a scale of 1-10 (1=poor, 10=best) 10 New or Used vehicle you are considering: Used car worth about 28,000$

I was just approved by my USAA bank for a 15,000$ loan. I requested 25,000$ but in the email they said they could not approved me because I had too many inquiries in the past 12 months also unverified income. Now my question is if i were to fax them my w-2 from last year would they be able to increase this amount ? or is there any way for me to have them increase this amount at all for that matter ? This is the first time I will be financing a car so I'm not very sure how this whole process works. Thanks,

I dont think or at least dont know of a way to stop it once filed. Now why could it be such a bad thing as everyone keep saying? can anyone be a bit more specific. Like i said I just want to clear everything up with them thats all.