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  1. Like the previous posters stated, you should be paying 2-3% with your scores. We had similar scores 2 yrs ago (when rates were higher) and we got a 3.3% rate. Late last year, I decided to pay off the car since I was going to be in the hospital for a long while & I didn't want to burden my wife with having to make the payments while I was in the hospital. Now, Penfed is offering 1.99% & there are plenty of places offering 3% or less. Not sure why they are charging you 6% with your FICO's.
  2. I have two rental properties & I have almost no reserves left. Having renters that do not pay and it takes nearly 2 months to evict tenants in my state. I am unable to borrow cheap $$ except from my retirement. (I don't want to do that if I can help it).. I never been late with my payments and my FICO's range from 770 to 810 (790 mid score). I was off for 5 months due to major medical. (cancer) & I went back to work a month ago. Questions: 1. If I short sale the properties (2), do I have to pay income taxes on the forgiven principal? 2. I know my lender will forgive the negative principal (saw the memo) in 2012 & 2013 if I do a short sale. 3. How bad is credit impacted with 2 short sales. (I have two other properties with very small equity but I would break even at best--I rent those for more than the payments. I am about 50K negative (150K loan balances, worth about 100K--they were worth over 300K in 2006) on each property. We are talking a total of 100K+ of negative worth. Those two properties qualify for HARP2 and will save me approx $200 month on each property. I live 90 miles away from the properties. Bottom line: What are your thoughts on short sale vs. refinance with HARP2? Thank you for your responses.
  3. Could you add him as an authorized user on a relative's old open credit card account that has completely positive history with low utilization?
  4. If I got a FR from AMEX (my own credit), my wife would not consent to AMEX having the tax transcripts since we file jointly.
  5. I know alot of people that have no debt and credit scores 750 and above. Several people I know have zero debt and are over 800.
  6. I would avoid them. Nothing but problems!
  7. It sucks that one who is struggling to make the payment (and pay on time) do not get these letters. I have 2 underwater rental properties and never paid late.

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