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About morehelp

  • Birthday 05/09/1957

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  1. My sister's husband passed away in 2018 and later (2020) while she was going through some of his paperwork, found several thousand dollars worth of AMEX travelers cheques. They were purchased in 2015 prior to his cancer returning and he had never mentioned them. She called AMEX, and after a fair amount of aggravation and supporting documents sent to them, they gave her the money for them. Apparently, they don't expire .....
  2. If you go conventional, you can use your IBR payment. As 8ball said, there are some lenders which will ignore your student loan payment altogether. I don't have any experience but I've been told that FHA has some pretty restrictive lending requirements with respect to student loans. That being said, there are many lenders that are, or are becoming, pretty well versed in the IDR plans (including IBR, REPAYE, etc). I just bought a house while in CARES forbearance but on IBR normally and 2 weeks later, I had 254K forgiven in December vis PSLF . I've probably said it 20 times on here
  3. To be fair--your title does say Navient Private Loans ... I'm not sure why these loan weren't removed from your credit reports 7-7.6 years after DOFD and never brought current. Also, it's my understanding that the same SOL applies to these loans as any other installment loan. You mention that the law firm refused to take two of the loans as they are past SOL and then the other loan was pulled back to Navient. It doesn't sound like they are actually collectible nor should they be on your credit reports....unless your communication and payment arrangement (on one loan) reset the cloc
  4. I have a family member who was in your shoes with the payday loans. He contacted his attorney general's office, filed a complaint and because the principal (and interest) had already been repaid many times over he did not pay on this loan again. For his second loan--this one had longer terms than the kind you are rolling over, the interest rate was illegal and the lender wasn't licensed to do business in his state. Again, he had already paid the principal balance plus interest. For this one, he filed a complaint with the CFPB and immediately quit paying. The first one
  5. What kind of student loans do you have? If they are direct loans, you don't need to take them out of forbearance--giving up 0% interest through September is crazy. Are you on an income based repayment plan? If so, there are many lenders that will use your IDR payment instead of 0.5 or 1%. If you're not on an IDR plan, you should explore that option. I closed on a house in December with 254k in student loans in forbearance--I did provide evidence of my IDR payment and my PSLF status. It was conventional with 20% down. I used a bank and had a back up just in case (advice from creditboards).
  6. Are these private or federal student loans through Navient?
  7. The interest rates on federal consolidation loans are variable and re-set every year on July 1. It is the weighted average of the loans being consolidated, rounded to the nearest 1/8% not to exceed 8.25%. There are private lenders with lower rates; however, you would forfeit most of the protections on federal loans. I think it matters with respect to how long you've actually been in payout and the current balances.
  8. Did you have an F1 and I-20 when you got to the US? Over the years I've had many international students (mostly postdoc but some still doing coursework) in my research lab and I couldn't even place them in a rotation until all of the paperwork was in place. For those who were on the second/third year, an expired F1 was workable as long as the I-20 was current. When your current school expelled you, they notified all of the governmental agencies that you were no longer a student and you have no funding from them. Am I correct in assuming that you need your transcripts to gain admis
  9. To help you, we need more info: As an international student, do you have a current I-20?
  10. I'm not an expert on student loans other than what I have experienced over 15 years and every scenario possible... Since you're in CAIVRS, I'm assuming these are federal loans in default. One question is how did your home get so far in the process without this rearing it's ugly head? While I understand the timeline you're up against, rehabbing your loans is absolutely the best thing you can do overall. Once rehabbed, you become eligible for the perks of federal loans like the current forbearance with 0% interest and no payments due through 9/2021. There's also talk of forgiveness b
  11. 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.
  12. 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 somethin
  13. 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 st
  14. 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?
  15. 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.
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