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morehelp

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About morehelp

  • Birthday 05/09/1957

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  1. I used US Bank who provided a LO (locally) dedicated to their Wealth Management Clients. Same 0.125% discount for banking relationship and used quite a bit of the funds in my account for the down payment. I actually debated leaving the funds in, tied to a LOC and using the LOC as the DP. The market was climbing daily and I wanted to capitalize on it by keeping the money invested, but at the end of the day, I pulled the money I needed.
  2. Not to hijack your thread but this is my very recent experience on buying a home. I think every lender is different. I just closed on a home and the cutoff was 740 for top tier, conventional with 20% down.. Thanks to the advice given on Creditboards a few years ago, I also had a back-up. It wasn't needed but was there just in case. I was carrying balances on 2 cards (4k at 0% interest) plus had an open installment loan and extremely high student loan debt (which has since been forgiven via PSLF :)). My lender said to leave everything alone unless the underwriter requested something. He did mention that not having any inquiries within the last 90 days was favorable (I actually had none in 2 years) but if there had been inquiries, it would not have been a negative--just something I would need to explain. Beyond 90 days they didn't care. I did an underwritten pre-approval before I started shopping as cash is king on the barrier island where I wanted to buy. Most sellers wouldn't even entertain an offer that required selling a home or no pre-approval. I wrote the offer 11/3/2020 and closed 11/30/2020. 30 year at 2.625--if I had waited one more day to lock it would've been 2.5 but oh well. The closing was remote as I don't live in the state where I bought my home. Pick a lender/broker you like and go for it. Enjoy the hunt!!
  3. from the FSA website: Benefits of Loan Rehabilitation When your loan is rehabilitated, the default status will be removed from your loan, and collection of payments through wage garnishment or Treasury offset will stop. You’ll regain eligibility for benefits that were available on the loan before you defaulted, such as deferment, forbearance, a choice of repayment plans, and loan forgiveness, and you’ll be eligible to receive federal student aid. Also, the record of default on the rehabilitated loan will be removed from your credit history. However, your credit history will still show late payments that were reported by your loan holder before the loan went into default.
  4. It's great the you learned a lesson re borrowing money and paying for others outside of your means at such a young age. Were your Discover and Chase accounts in good standing? If so, why did you close them?
  5. Ae these federal or private loans? If federal, they can be rehabilitated after 9 months of on time payments. Call the CA handling your loan(s) and indicate that you want to rehab them. Important to note: this is a one shot deal. If you don't follow through on the agreed plan, this opportunity won't come around again.
  6. I call every year on my Venture card and a general CS rep credits the fee. Depending on when I call, it is credited prior to my statement cut or, at the latest, on my next statement. They won't to anything before it hits my account. YMMV
  7. Are these federal loans? Unfortunately, getting these late payments removed is a rare event unless you did a rehab program. In that case, once it's completed the late payments can, and usually are, deleted.
  8. You can do a FOIA request and ask for all documents relating to your loan. It takes about 3 weeks and will give you everything you need. Interest accrues on subsidized loans in forbearance but not deferment.
  9. Believe me, I know the student loan woes but there are options. Who holds the loans now? From the 2000's these could have been FFEL loans. Since you've never rehabbed them, that option should be on the table. You need to contact the current servicer and request it. If they are difficult, then contact the Dept of ED ombudsman for guidance. As Centex said--you need to get these out of default now.
  10. I actually had 1 paid judgment and a paid tax lien removed by disputing as I mentioned above. Neither was close to the 7 year mark. This is a quote from the Experian website: Experian no longer shows judgment and tax lien information as part of a consumer's credit history. And this: Starting July 1, 2017 the three major credit reporting agencies – Equifax, Experian, and Transunion – will no longer report public records like judgments and tax liens unless it contains the consumer’s name, address, and either Social Security number or date of birth. My judgments did not contain my SS# or DOB.
  11. Can't this be disputed as "not a consumer transaction?" It won't get rid of the $$ owed but may help with removal from your credit report.
  12. I would go to the NSLDS and see what's listed with respect to amounts/transfers etc. Just getting them off your CR is not enough. Student loan servicers can garnish without a judgment and file tax liens so it's important to have the whole story before you go any further. I know, first hand, how frustrating this is as I went down this road very early on. I'm definitely not a SL guru but fortunately, there are others on here that are experts.
  13. Technically 7 years isn't until Nov and Dec of 2020. I'm not sure what will happen since you disputed them as never late, but these would have aged off by the end of the year without the dispute.

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