arameth

Nope, just a single pull. But that may because I opened the Slate just a short time ago (10 days between opening slate, opening the Freedom...then 6 more days doing combine.) Yes, actually 14K...I have a single 13K for Slate, and 1K remaining in my Freedom. Original lines were 5500 and 8500 = 14k. New lines 13k and 1k = 14k. Was very easy in my opinion. Thanks to everyone for their advice!

Hi, I have a rental property that I'm looking to refinance. Current loans are 1st - adjustable tied to 1YR LIBOR (currently at 3%), due to adjust next May (LIBOR +2.25%), balance is 200k. 2nd - fixed at 8.5% (yuck), balance 50k. The property has a good track record, (rented out 100% for last 3 years, just moved new tenant in) so I'm going to keep it for the next few years but I'm afraid of the rates starting to rise. The problem I've had all along is that the mortgage is w/ Suntrust, and is a "Portfolio Loan"...meaning it's not held by Fannie/Freddie...so no HARP/HAMP refi for me I estimate the value to be somewhere between 250k and 275k (finally above water!). So first question is whether anyone does 100% refi on rental property any longer? Any recommendations? Second question is if there are any lenders that do no appraisal fee loans? I've seen all sorts of crazy valuations (think Zillow...they say almost 300k as value?), both high and low, and I'd prefer to eating several hundred dollars cost if I get a lowball estimate. If I'm right and the property appraises out to the 275k figure, then I'd only need 90% financing. Thanks for any input or advice!

Last update: lines reallocated successfully! I did it by sending a message via the website. Was done same day, very easy. Left 1k on one card, rolled rest into the slate. Thanks to everyone for their advice!

Another update: Applied for Chase Freedom online, got the "need more info message" Had to call recon number again, and after providing some info after a few minutes was approved for 8.5K. Now to roll this into the Slate CL and do the balance transfer!

They pulled EQ. I showed 753 on credit karma (Vantage?)

Hey all, I was just recently approved for Chase Slate. $5.5k balance which was lower than the 10K I was hoping for. First, something that may help other folks - I had a CC charge off / settlement back in 2009 with Chase. Seems that they have forgiven me and I'm off their blacklist. maybe because I have a mortgage with them? I got the typical notification when I applied online (7-10 days), immediately called the recon number and they took some info and an explanation of why the CO back in 2009. After a few minutes was approved with the initial credit line. So is there any strategy to have this initial CL increased? I'd like to take advantage of the zero percent no fee BT offer, but want to get all my other lines rolled into this one (thus the 10k amount I'm hoping for). Can I simply call back in and ask, or is there some online method of asking for this? Any pitfalls to avoid? Thanks!

I am exploring options to help pay off my private student loan faster. Currently it's with AES, about 30k @ 4.8%....this is an adjustable rate, so I know where it's likely to head in the next few years. I have graduated and have solid income, credit scores around 740. I'd like to lock in a fixed rate...does anyone have a recommendation for doing this? I'm looking into NFCU and USAA, but wanted to know if anyone has any recent experience with lenders. Thanks!

Bank has already foreclosed...and property has been sold at auction (Bank was the purchaser). HOA did not have a lien, and to my knowledge still does not. But the HOA fees remained unpaid for 2014. So if there is no lien in place...and bank now owns property (and has taken title), is there any remaining liability for my mother or my wife and I? Again, the only statues I could find were related to Condos...and not specific to raw undeveloped land or a dwelling. Thanks for your input!

Hi there, I'm trying to help sort out some last few issues related to some property that was recently foreclosed on. The history: My mother purchased some land in Florida. She took out a mortgage to pay for the property. At the time, she did not live in the area but my wife and I did...so for purposes of inheritance and to legally allow us to maintain the land, we were put on the title (but NOT the note). Fast forward 10 years...My mother declared BK CH7. She was discharged back in May 2014. The property had already started the foreclosure process...it was put on hold for a short time until after discharge, and in July was sold in foreclosure auction (the lender took possession at auction). Prior to the foreclosure sale, we got permission from the BK trustee to remove my wife and myself from title so we could avoid having the foreclosure public record be associated with our names. We got this done in June 2014...just after Discharge of the BK in May...and prior to the foreclosure sale in July. So we've now requested to have my mother, my wife and my name removed from the HOA. But they are indicating that the current years dues have not been paid. So my questions and thoughts are: 1. What is the current law (Florida) surrounding HOA fees for a property that is foreclosed on? I did some research and found mention of statues that indicate the fees are the responsibility of the new owner (i.e. the lender) up to 12 months in arrears, but that seemed to be specific to condos. 2. I'm thinking worst case, since we were joint on the HOA...my mother's responsibility would be removed due to her BK. So would we only owe 1/2 of the HOA dues? 3. If the HOA forces us to pay, what is preventing them from collecting from the bank as well? Would that constitute fraud? Thanks!

Hi, My mother purchased some property several years ago. Since we lived in the area but she did not, we were put on the title so we could help keep the land in good shape and had legal authority to do so. There is no dwelling on the property (raw land). She was not able to keep up payments, and has gone into foreclosure. So my wife and I were served papers from the bank, which is a little confusing. So my questions are: 1. I think we're listed in the lawsuit because we're listed on the title. Does that sound right? 2. This won't show as a foreclosure on my credit report, correct? I never was on the mortgage and was only on the land title. Anyone else ever go through something like this, where they were on title but not on mortgage? Is there any action I need to take? Says I have 20 days to file a response to the complaint...not sure what I'd do, other than I'm not planning to contest this. Thanks!

Thanks for clarifying...one can dream, right? Any suggestions on getting quotes from a lender/broker? Again, not sure if I'm breaking any rules by asking (I know that brokers soliciting by initiating contact is verboten, but I'm the one asking). thanks!

Thanks for the responses. I was hoping there was something for FHA similiar to conventional, but I guess not. Only thing I could find on this was a company called Crescent Mortgage that has a program that advertises a "FHA no Admin Fee" program for a small bump in rate. Not sure if that means no annual MIP, or if it's just a fee that gets paid at closing? Anyone know anything about this? PS: I am still looking for competitive quotes on my loan. What were the rules here for asking for a reference? I am in the Atlanta, GA area and prefer to work with someone local, and if anyone can give me a recommendation on someone I would appreciate it (if this is allowed). thanks!

I have a contract on a home and am scheduled to close in a few weeks. I went FHA 30 yr fixed. I have one lender I'm working with, but still looking to shop rate a bit to make sure I get the best deal. My question: Has anyone ever heard of any loan program or lender that has somethign that allows you to avoid annual MIP by having a higher rate? I thought I had heard of a "no admin fee" program somewhere, but not sure if that was the same thing. thanks!

Hello everyone, So for the first time in many years, things are looking up for me and my family. Have a 7 month old son now (our first, and yes I'm a very proud father), job has been going well, and things really have turned around for us. The next impending challenge we're facing is that we are stuck with an adjustible mortgage. Current lender will not let us refi or modify, and it' a "portfolio" loan so no Obama refi for us (loan is privately held, not fannie/freddie owned). So looking into the future, we know rates will be going up. And rather than taking the "waiting for a train to come hit us" approach (and the mortgage payment going sky high), we are looking at renting out our current home and buying a new one at a fixed rate. Best case is that home values will catch up enough for us to eventually sell the rental property...worst case is that we end up with another short sale BUT will already be in a good home with a fixed rate. So we wanted to know if anyone could recommend a lender/broker that will give us top notch service and work hard to make everything work, and NOT gouge us with garbage fees. With FHA, we don't have to worry so much about the short sales, but we will have a rental property in the mix that may make for some extra paper work. We looked at Homepath financing as an option, but since we have two short sales from about 4 years ago, they want 10% down (no extra requirements need 7 years seasoning after short sale). But if there is some sort of way to get around this, not paying MI each month is very attractive! thanks!

I hope this advice is not too late. I took out a loan in 2006, and it is owned by Suntrust. Now I'm upsidedown in my mortgage, and when trying to use one of the various "Obama" refinance programs, because my loan is not owned by Fannie/Freddie I was told I was not eligible. And now I'm stuck on a sinking ship So bottom lines is that if your loan is privately held (aka Portfolio mortgage), you may not have certain options available to you in the future. I don't think there is much you can do to prevent your loan from being sold to any specific organization. Unless your loan is done via FHA or VA perhaps? Good luck!