maestra

Is this the thread? http://creditboards.com/forums/index.php?showtopic=470203

The article also doesn't say whether they differentiated between one time offenders and the frequent flyers [the kid who shows up tardy one day, has to be surgically removed from the cellphone another day, takes a bathroom pass and disappears on another day, shows up practically nude another day, skips shool another day, smokes in the bathroom another day, calls the teacher a f@#$%n b@#$c another day, etc.] who make up about 10% of the student body and cause about 90% of the problems.

PM please? Thanks.

Nope - doesn't sound like overkill to me! Thanks so much for spelling it all out for me like that. Credit repair has been my 2nd job for about 6 months now - and I'm just about through with that - so I'm in the market for a new 2nd job. :-) Good luck.

I actually shopped for a loan officer a full year before I finally applied. I printed my MyFico reports and he went over them with me and then we'd check in every so often and when my scores were where we wanted/needed them to be, I applied. Since you know you won't be approved until you have a 620, I wouldn't waste the hard inquiries that you'd get by doing a "practice run". I'm doing USDA, and what I found was that even though USDA might be okay with 580, a loan officer still has to get a lender to approve you and the lenders have their own credit requirements, which your LO will be familiar with. At the least, you'll get inquiries from applying and before closing and whenever the lender feels like it in between. In my opinion, you shouldn't do anything that might cost you a single point and totally focus on making your file as clean and perfect as possible. [besides, you might want those inquiries for appliances or something after you close.][...and you don't know what the credit scene might be in a month or so]. My 2 cents worth. How did you go about shopping for a loan officer? Did you contact local banks? You said that the loan officer still has to get the lender to approve you, did your loan officer NOT work for the lender you ended up going with? I'm in the same boat as the OP - I have a few dings on my report that just won't come off... but I really don't want to put off buying a house for another two years. I also made the mistake of running my credit through BOA and Chase last year for pre-qualification, so I already have more inquiries than I want, and I'd rather not add more if I don't have to. I'd love to know how you went about finding a loan officer that would review your own printed reports and scores. Thanks! In my case, the builder that I'm buying from had a list of mortgage brokers that they prefer to work with because of their [the brokers] familiarity with the homes and reviews from customers. I just started at the top and began working through the list. Most of the brokerages had 3-5 loan officers and I'd call the company and ask to talk to one them [never more than one per company per day]. When I talked to them, I'd introduce myself & tell them what I was doing and what I wanted to do and see how the conversation went. In some cases, we of the credit boards know as much or more about the credit world as "professionals" do and I weeded out a couple that way. One was a completely rude pompous sas. Some were just too busy to be bothered. After I picked some from the phone interviews, I made appointments and talked to them in person. Some of them just shuffled through my paperwork, threw it onto the desk and said stuff like "looks ok, come see me when you're ready". Some of them actually read everything, made suggestions/comments/etc. and asked me how I wanted to proceed. At that point, I chose the guy that seemed to be the most knowledgable, bought into what I wanted to do, didn't treeat me like an salamander, etc., etc. and just seemed like the best fit. As it turned out, I found out later that I'd picked the most conservative guy in town. As a mortgage brokerage, his company accesses several lenders and he chose which lender finally got my application. I actually made this process into about a two month "second job". Hope this helps. Probably seems a little like overkill, but I only wanted to do this once and get it right the first time.

I actually shopped for a loan officer a full year before I finally applied. I printed my MyFico reports and he went over them with me and then we'd check in every so often and when my scores were where we wanted/needed them to be, I applied. Since you know you won't be approved until you have a 620, I wouldn't waste the hard inquiries that you'd get by doing a "practice run". I'm doing USDA, and what I found was that even though USDA might be okay with 580, a loan officer still has to get a lender to approve you and the lenders have their own credit requirements, which your LO will be familiar with. At the least, you'll get inquiries from applying and before closing and whenever the lender feels like it in between. In my opinion, you shouldn't do anything that might cost you a single point and totally focus on making your file as clean and perfect as possible. [besides, you might want those inquiries for appliances or something after you close.][...and you don't know what the credit scene might be in a month or so]. My 2 cents worth.

When we're flying US Airways, they always bring out the credit card applications with the "if you fill out an application and give it to the flight attendant as you leave ........." speech. My daughter asked me if it was more likely to get an approval inflight than online since they know you fly with them? Anybody know? Thanks.

I'm buying from a builder in a subdivision and this is how mine went -- hope it helps. [maybe TMI?] [Guaranteed loan] a] January 5: chose lot & plan with modifications, custom options, etc. to determine sales price [didn't request earnest money for USDA loan] b] application went to loan officer that I chose & he added closing costs [paid by builder at closing] & USDA fees to get loan amount & then submitted to his underwriter -- underwriter approved & sent to USDA office for my state [WA]-- approved c]builder requested appraisal -- ordered by LO -- received -- came back above purchase price -- approved by builder d]builder ordered permits -- received -- construction started flash forward e] June 8: new credit report, 3 months current pay stubs, 2 months current bank statements, new desktop underwriter approval, new appraisal, file goes back to USDA f] have to provide binder for homeowner's insurance by June 30 g] scheduled to close July 14, need bank check for $37.00 [final amount depends on appraisal] It seems like forever, but it's also been fun to watch the house as it progresses. Good luck with yours

Just saw this and checked mine. I got it last February for $4000 and just got $800 CLI. BK7 discharged in November '08. Have maxed it out and payed it off buying plane tickets several times. Got enough points to buy an Amazon Kindle with 3G and never paid any interest, so I'm a happy camper.

Trying to help a friend. Anyone have an email address for Carlos or Fernando Berdegue or Curtis Knipe of the El Cid Hotel group in Mexico [Grupe SAB de CV or CIDMEGA.mx][i found the names but couldn't come up with the addresses without subscribing to something. I think he said that their corporate address is in Cancun or Cozumel but most of their hotels are in Mazatlan. Thanks.

Like you said, if you've got $12K, why not FHA? I thought part of the advertising from USDA was if you didn't have the down payment money, we're your way to go. Good luck with whatever you decide.

I ran across a thread on another board where everybody was talking about their USDA loans. They were saying that Chase is funding/closing USDA guaranteed loans and that although they were getting mortgages through a loan officer for a mortgage company, their loan was being purchased by Chase later, so they are able to close on their home purchase without the Presidential signature that most lenders are waiting for. Why would you go thru a mortgage broker if your loan is going to Chase anyway? Why wouldn't you just apply with Chase?

"Well, we were denied because we have no reserves and were told we need to have 6-12 months of reserves???? WTH? With that kind of reserves, we can put a down payment on an FHA loan." I'm sorry it worked out like this. Were you denied by the lender or by USDA? How much money did they consider 6-12 months of reserves? Thanks

Here's what Washington [state, that is] is saying. FWIW "Guaranteed Rural Housing Processing Update: We are currently reviewing files and issuing conditional commitments “subject to the availability of fundsâ€. This requires a manual underwrite on all files with the proposed 3.5% guarantee fee. If you submitted a file that was waiting for review; it will require a manual update to the information to include the proposed fee of 3.5%; this includes any GUS files as the system is not currently set up to calculate the new fee."

Thanks, when I heard him talking about it I didn't want to rain on his parade but it seems irresponsible not to say something about it to him.