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OnMyOwnMom

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  1. OnMyOwnMom

    VA loan after Chapter 7

    Hello, my fiancee is over 1 year outside of BK7, I am only 7 months outside of BK7. Our scores qualify us for the VA loan and our income is way more than enough... Question is, if we get married soon, can we get the VA loan when he is 2 years outside of BK7 or do we have to wait until we are both 2 years outside of BK7? Or is it better for us to not get married and for him to get the loan on his own first? (He is the Vet) Please advise, thank you.
  2. OnMyOwnMom

    NFCU is open to everybody!?!

    Just thought I would add my experience. I emailed my completed application on 8/17/2016 around noon, got the automated message that said I should get a response within 48 hours. I emailed in the printed application that I filled out by hand, a copy of my NL member card and also a page from the online member area that showed I belonged to the San Diego Council (fyi, I don't live in the City of San Diego, but I do live in San Diego County), copy of my driver's license, copy of my registration with current address, copy of my current paystub and also a copy of my business card. I didn't want there to be any issues. I called in today about 3 hours shy of the 48 hour response window, they said my membership was still pending and processed it while I was on the phone with them. They gave me my access # and account information while I was on the phone with them and told them I could either go into the branch to get my debit card or have it mailed to me. I will go into the branch and pick it up later today so that all is said and done. *Note: I believe people have mentioned that NFCU is not chex friendly, but I do have something in Chex, so not sure how true that is. Just sharing...
  3. OnMyOwnMom

    Refinance Advice Needed for BF - combo 1st & equity LOC

    Apparently we can't update / edit our posts....so, here is my EDIT: (UPDATE: this friend that my BF is working with now is NOT with a mortgage broker company, according to their website, they are a direct lender - "an independent and well-capitalized direct lender and mortgage banker")
  4. OnMyOwnMom

    Refinance Advice Needed for BF - combo 1st & equity LOC

    Thanks, Brian. I am going to update the post - but just found out that his friend isn't actually a mortgage broker...they are a lender. I asked him if anyone had told him his debt to income ratio and he said no. I don't have the answer to your second question, I will try to find out and update this evening.
  5. Hello, my BF is in fast need of refinancing advice. He loves this home and has no desire to sell soon, he has built his paradise back yard with pool, outdoor kitchen, etc... The reason why he needs to refinance ASAP, is because his 10 year equity line at prime / adjustable through Citibank, has recently hit the point where he is no longer paying interest only every month, but is now having to pay principle + interest and his payment has therefore tripled, which he cannot afford. He is still paying the interest only amount and is about to have this hit his credit next month and does not want to ruin his credit. He has applied for a combined refinance with his bank and his credit union, both denied him. He is currently running it through a mortgage broker friend of his and will know soon if that will work. What other options are available to him? Please feel free to comment below and ask questions for needed information to provide advice. FYI - we are in San Diego County, CA. Here are the important details that I thought to ask him: Amount owed on first mortgage / which company: $303,000 - Bayview Mortgage. Current payment on first: $2241/ month Interest rate on first: 5.8% Amount owed on 10 year equity line: $180,000 - Citibank Payment on 2nd: $525.00 / was interest only Current payment after 10 year interest only rate expired: $1425.00 / month Interest rate on equity line: prime - adjustable Amount of rent from Tenant: $1300.00 / month (apartment over garage) Expiration date of lease from Tenant: month to month now Proven rental income for how many years now on unit: 1 Approximate value of home: client thinks $625,000 based on comps, data on zestimate doesn't show converted square footage as being part of the home even though it was grandfathered in by the city - current Zillow Zestimate of home is: $483,063 Your current base gross income:$7000 per month but that can be higher with overtime etc.. Any other income: just the rental income from the apartment Your middle FICO credit score: 690 Major items showing on your credit report as owing are: Visa $9000.00 everything else is paid off, Important details I might have forgotten to ask you: I have a mortgage through Marriott for 14,000.00 for my time share ($240/ month) The main stats of the house as Zillow lists it now is: (does not show original garage converted to family room or new building of 2 car garage with apartment overhead) This 2048 square foot single family home has 4 bedrooms and 2.0 bathrooms. Lot: 0.59 acres. Built in 1974. My BF really needs to get his payment as low as possible and needs this done quickly. How would you advise him to proceed? And THANK YOU in advance :-)
  6. Thanks everyone. That's what I figured. This was actually in relation to something I always heard my mom tell my brother...which I thought it was wrong. Maybe they wouldn't sue you if you just paid "something" but I was still pretty sure it would tank your credit score. Thanks again!
  7. Hello, I am wondering if someone pays less then the minimum payment on a credit card, will it show as late 30 days - is there any benefit to your credit report to pay less than minimum if you can't afford the full minimum or is it still going to show as late since you didn't pay the whole minimum payment by the due date? I tried to search, I swear I have read something about this here before but I must be wording my search poorly because I am not finding the info. TIA,
  8. OnMyOwnMom

    DISCOVER IT

    SAN DIEGO
  9. OnMyOwnMom

    Fingerhut - how often MUST I use it?

    Thanks - so you haven't used it since June 2014 and they are still reporting it? That is the info I needed - so I can make a small purchase every six months and it will continue to report... I hadn't heard of anyone stating that they closed the account for non-use quickly, but I thought I had read somewhere that they stopped REPORTING it to the CRAs if you hadn't used it and had a $0 balance after so many months, which is what my concern was. Thank you!
  10. OnMyOwnMom

    Fingerhut - how often MUST I use it?

    As in "never - they will continue to report" OR - "Never - because it's a crap line" - which I already know, but still... Never because it's a crap line But the money you would spend on their over priced crap into a secured card if your score is that bad Already have one, but thanks.... I get it and I HEAR you - but I would still like to know the actual answer to the question. If anyone knows, please tell me.
  11. OnMyOwnMom

    Fingerhut - how often MUST I use it?

    As in "never - they will continue to report" OR - "Never - because it's a crap line" - which I already know, but still...
  12. I know how everyone feels about Fingerhut, but I have a $1700 credit limit with a $0 balance - I don't need any of their stuff - but I am happy that the higher limit is reporting and would like to keep it that way...I am not in a position yet that I need manual reviews for mortgage etc, so for now it is helping my score. Does anyone have a diffinitive answer as to how often I must use my Fingerhut account for them to continue reporting it to the CRAs? I believe I read somewhere here that if you don't use it for so often it, they stop reporting it. I searched and can't find the answer now... Anyone? Thank you - and happy Friday!
  13. OnMyOwnMom

    Do I need more new credit or just keep working???

    Sorry, Jordan0542 - I somehow missed that question... I am in CA, and no, sadly - no chance at NFCU. Thanks!
  14. OnMyOwnMom

    Do I need more new credit or just keep working???

    I did try this - I got "we can't find any offers for you, but we think you'll like these cards..." - no dice ;-) Thanks for the idea though. I had a ton of inquiries, literally in the 20s on Exp...and now at 2 across the board...I am really stingy on who I let put one on my account. If it's not a next to guaranteed deal, I'm gun shy! lol
  15. OnMyOwnMom

    Do I need more new credit or just keep working???

    I'm not SURE - but I think it's a pretty safe bet considering I have a judgement and also a charge-off with them... Not sure I am willing to get inquiries on all 3 to find out though... Right now I only have 2 each on all 3.

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