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TrainerC

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  1. I had cap one iib for a pretty large sum - my business failed during the recession and I guaranteed the business debts so I had to file. They were forgiving, offered me credit a year later, and now I have several accounts with them all in good standing. They've been terrific. AMEX and Discover have me blacklisted.
  2. You're so close! You don't need 15 points you need to increase Equifax by 6 and Experian by 12. The underwriting system is automated and these rescoring adjustments are done frequently. If your broker says he can do this and had his experts gave him the numbers then it should work - the only thing that matters at this point is your mortgage app credit score, your history is not relevant. And of course you need to have enough cash to close. I am not sure I understand the numbers ... would it cost you $8,600 less the $3,500 savings on closing costs = $5,100 to save .375% on the mortgage? Look at the monthly savings on the mortgage PLUS on the reduced credit card payments and how long it will take you to make the money back. Hopefully you can use the savings on mortgage plus cards to pay off those debts and replenish savings. Also consider that this may be a once in a lifetime opportunity to lock in that kind of rate on the mortgage. If you can afford it by all means do it.
  3. I had a very strange experience with CapOne,. it worked out fine in the end. They were included in my Ch 7 filing and sent me multiple invitations to reply about a year after. I was declined because they were IIB, but continued to receive their marketing materials. I found that calling into the offices as you did got me nowhere. I patiently waited and applied each time they invited, was declined again but then and eventually was approved. In one case they told me that my applications were too close together, go figure. Its all good now,. with credit steps, my line is up to $5900 four years out. My personal credit was good, the bankruptcy was all about a field business,so I dont know how much the xcore counts.
  4. why would you want to remove them if they are paid in full zero balance? this is helpful for your score.
  5. I have had the account for some time and there are no fees unless you need special services or more than 6 withdrawals a month.The only complication is that it takes 3 business days to transfer funds to or from your Chase account to Discover, more if there are holidays or weekends, so factor that into any transactions and you may want to keep some money in your Chase savings. They have a good customer service line in case you ever need to call in for help.
  6. opened barclays rewards mastercard , CL of $1500. used it a lot and paid in full, usually several times a month. Increased to $2700 in 6th statement . pretty decent. i like the ease of applying the rewards to my balance.
  7. Sounds like normal part of the process. Usually the rate options are for paying closing costs upfront, adding to principal or adding to the interest rate, and they may be asking you to make a choice so that they can give you a written loan commitment. Ask THEM what happens next! They havent offered you anything until you sit down to sign at the end right now it sounds like they are offering you rate options to consider - my guess is the score - but they would have known that as soon as they pulled credit. I think I may be misunderstanding you. So if I'm having a house built that will take six months, how would I know everything is good to go before closing at the end? I guess I also assumed they wouldn't give me an offer on a rate without knowing they are going to be able to finance me for sure. It sounds like putting the cart before the horse. No, you've got it right. Think they'll be able to do the loan, so they are showing you your options. You still have to complete a full underwrite for complete approval. That's normal. But, it's worrisome in your case, because of the fact that you're building the house and the credit is on the lower end.
  8. why cant u roll closing costs into the interest rate? Or if you must, add to the principal balance. The former is preferable so your balance is lower and you can refi again in the future. HARP does not have a credit score requirement as long as u are current, but the score is used for "pricing" (rate).
  9. I did a HARP refi, I also had to do it with my current lender. Go ahead and do it asap and have the closing costs rolled into the interest rate(do not add to principal or pay upfront). You will pay a bt more interest, but can always shop around later for a lower rate with someone else once you establish good credit on the current loan, and you will save a bit along the away. It was a pretty quick and easy process.
  10. Mine has been off and on, currently not updating since March 12. Very strange. Customer service responded with instructions on how to update never said they were having a problem.
  11. yeah i got the same email. actually ck was working fine for me on sunday afternoon 3/11 and monday 3/12 but today has stopped updating again.

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