Jump to content

Please consider disabling your adblocker for CreditBoards if you have not already done so.  This site depends on advertising revenue to stay online.


  • Content Count

  • Joined

  • Last visited

Everything posted by Headwaters44

  1. Stats in my sig. Looking for a big limit card, $30k plus. May use it for a balance transfer but thats not a requirement. $88k income, 22% util currently Any recommendations?
  2. Citi nailed me with a hard on TU, darn it. Oh well. I have a 2nd citi card. Any advice on getting them to pull soft... smaller CLI amount, call in to do it, etc?
  3. No good reason other than reporting enough misc income on the mortgage app to offset my full-time job DTI Calc (car loan, student loans) just a little to bump me into the price range I’m interested in. But I can include all of my side misc income if that’s easier, I’m just unsure if you can count misc income same year, before it’s reported on an IRS form ?
  4. I've had some recent success increasing my misc income by margin swing trading in 2020. The last two years my misc side income was about $4,000 but this year its quite a bit more. I just want to use a fraction of this income on my mortgage app, but will that be possible? I intend to pay taxes on the gains of course and can provide documentation on the income.
  5. Good to know thanks Heg! I'll have to check into NFCUs rate chart to see which bracket I'm in.
  6. Had 2 Amex cards years ago, one for 13k and one for 7k. Built up some debt last year for a business and you can bet they were paying attention. All the sudden they reduced my limits on each card to $1,000 which killed my utilization. Just paid off quite a bit of debt getting my utilization down from about 90% to 30%. Going for a mortgage app soon so looking for simple ways to boost scores. My new FICO 8s after getting my utilization down are in my sig. No baddies currently For the record my FICO mortgage mid score is 759. Since Amex kneecapped me, should I try to get another good limit card to knock that utilization down to 15-20% before I apply for the mortgage?
  7. Hello in 2-3 weeks I plan to apply for a mortgage with NFCU. My FICO mortgage mid score is 759 with high and low 727 and 796. Simple question I hope, alot of good homes popping up in our area so theres a sense of urgency. should I wait until that midscore hits 760 ? I thought I remember reading on here 760 is the magic number, but maybe I'm wrong about that. just wondering if it will make a significant difference in interest rate
  8. I think, though I'm not certain, that seller's wife is on deed. Our original purchase contract had her name on it and she just never signed it. He then, I believe, talked to his attorney and when we had to extend the contract for another reason, whited out her name. I have not questioned him about this. If she has some sort of claim, could this blow up in our face or cause us problems down the road?
  9. In the end did you come out significantly ahead financially by going this route? Arguably a listing agent could have gotten you a higher price for the home to offset the commission. Of course, there's no way to know on an individual basis if this would have been true... I'm just interested in your impression. I saved the 3% that a sellers agent would have collected which amounted to a little over $4k in my case. But like you said, a sellers agent may have retrieved me a better offer not to mention he or she might have had the experience to refuse certain inspection required fixes that required lots of home depot trips. I should also comment that things can be pretty exhausting physically and emotionally: preparing for a showing, waiting on whether or not an offer is coming, sitting for weeks with no calls or showings. There's a lot of disappointment involved. Including the fear of embarrassment from family and friends if your house doesn't sell or you throw in the towel for a sellers agent. I don't know if this is true but someone told me that 9 of 10 FSBOs don't sell or result in an eventual real estate agency selling the home. Again, I really don't mean to scare anyone away from giving it a try, I'm sure for some it isn't that challenging and maybe even enjoyable. I just want to help others be prepared and realistic about FSBO experiences.
  10. Quick update. We got an offer finally after about 9 weeks on the market, had to drop down to our rock bottom price. We've cleared inspection and appraisal and should close in a couple weeks. In the long run I would probably not recommend selling your house yourself unless you: 1. have family or friends in real estate willing to offer free advice 2. are extremely patient and confident in your home and ability to follow through with selling it yourself 3. live in an area and point in time where it's indisputably a seller's market 4. are willing to negotiate some on price dependent on market, inspection, appraisal 5. realize there is a possibility you may have to show your house upwards of 20 times or more before you see your first offer 6. don't mind having to deal directly with a buyers agent who for 4-6 weeks isn't concerned with your best interest 7. are willing to be open to FHA buyers offers and the stringent demands that come with them 8. do your homework on required disclosures, order of operations, legal implications, etc 9. realize there may be needed repairs lurking in your house you may be entirely unaware of 10. are willing to spend the money needed to properly advertise; get your house on the MLS, signs, zillow, other websites, notify nearby agents, open houses 11. are willing to prepare and show your house to individuals who may not yet have preapproval or don't have preapproval for enough 12. are willing to receive criticism of your home from snooty people who secretly want to buy a house that is out of their price range 13. are willing to offer commission to a buyer's agent In all seriousness this isn't meant to intimidate, as success selling your house yourself is certainly possible. If the above is worth the money you'll save by selling yourself, by all means give it a try.
  11. Thanks for the heavy sarcasm, just trying to share with potential FSBO's that even if you're in a hot seller's market, patience is still crucial.
  12. Quick update. I've gotten a nice taste of reality already. I thought I was in a hot market because the supply was low but it turns out the demand is low as well. Really nice houses (particularly between 160-300k) are sold in a week or so. In my case however, I seem to be in an awkward price point. I initially listed on Zillow and MLS at 157k, with 2.5% commission paid to buyers agent. It seems my home value is probably realistically between 145-150k. It makes me wonder if alot of first time home buyers in my area are approved in the $110-140k range We had one open house which had a decent turnout but no offers. We had two calls for private showings. One almost led to an offer but they changed their mind last minute. Aside from this, we've been on the market for almost 3 weeks and it seems like it's been nothing but crickets. I even dropped the price to 151k four days ago and have heard absolutely nothing since. I'm learning that housing markets are incredibly volatile and very sensitive to outside factors. Unless your home is pristine and highly coveted, it could very well sit for a long time with no action. And some things matter ALOT to people that one might not think would have a huge impact. Things like being on a busy street, corner lots, 2-stories vs ranch, etc. I'm learning yet again why patience is a virtue. P.S. With an FSBO, hosting a showing or open house yourself could be a bad idea. People can be very critical of the place you've called home, nitpicking little details to the point of insanity. It may be a good idea to have a friend or relative take care of showings/open houses for you.
  13. Looking to buy soon and I have preapproval. I've noticed there are some decent properties coming up next month to auction. I've done some research and know the general risks involved. I've also found out that a deposit of $5,000 and a lender preapproval letter is satisfactory for bidders to win the home. If one were to purchase a foreclosure for say $140,000 that was appraised prior to the auction for $180,000, can the buyer typically request a loan amount of say $165,000 to make any unknown repairs that need made? If it's a Sheriff's sale driven by unpaid taxes, and the owner is a bank, does the minimum bid amount typically include the amount the owning bank wants for the property? does it commonly include the past due taxes? If 30 days is provided for receipt of remaining funds from the winning bidder, is it common for extensions to be granted should there be any delays in closing, or is the potential buyer typically SOL?
  14. I am buying in a city where demand is very high and supply is very low. The good houses are swooped up in literally days. I need some advice on how to get the edge on the newly listed homes, FSBO's or MLS. How do I stay a step ahead of others aside from bugging realtors on a daily basis for new leads and stalking FSBO websites hourly? I am not committed to any agents yet so I considered dangling that 'double-agent' carrot to realtors in exchange for first dibs on newly listed property that end up a success for us. However I know having my own independent agent is in my best interest. To thicken the plot a bit, I'm selling my current home in this same city which I know will be a coveted property for buyers agents and will sell very quick. One other incentive I've considered is to promise local realties first dibs on showing my property (and obtaining 2-3% commission since I intend to sell myself) in exchange for early tips on new listings that lead to a successful purchase. Does anyone have any advice on how to be successful in a market this challenging? Are either of my above ideas likely to give me the timing edge I need?
  15. Good point Brian, I will be sure to get on the MLS and note a commission to agents. I will try and keep this as a running post with updates to help those who are considering FSBO's.
  16. Thank you all for the good advice. I will vet a few title companys and get started in a few weeks with FSBO.com, craigslist, and good looking yard sign. I am strongly considering having an agent do 1/2 commission as I have a gut feeling they will bring me a higher quality buyer who will offset their fee. I don't even want to waste time with anyone who doesn't have a pre-approval letter. Maybe the best route is to try to go it alone (with a good title agent behind me) for the first 30 days, and if I'm getting undesirable offers, bring a sellers agent on board for half commission.
  17. So I'm looking to buy in Aug/Sept and I'm putting my house up July/Aug. Here is the backstory. The county auditor is coming monday to inspect and update my square footage based on a renovation I completed last year. This will add about 231 sf of livable heated area. When I purchased 2.5 years ago it was 1,568 square foot for $135,500 ($86.41 / SF). I live in a coveted area due to school district and parks and I'm told by a realtor demand is high and values have gone up. I'm thinking best case scenario I could fetch 1,799 SF x $89 = $160,111 ($89/sf is 5% lower than Zillows estimate of $94/sf for my neighborhood). I owe 130,000 on it and would like to net at least $15k after all fees, concessions, etc. I'm looking for some advice on selling the home myself. I know FSBO can be challenging but I'm happy to do the legwork. Given the backstory, is it worth the effort to sell the house myself? I know there are pros and cons to each scenario. I'm just looking for advice from those with experience.
  18. Wow, couldn't have guessed I'd get such good advise and info, thanks whychat for all you do here. It seems knowledge is power in this situation
  19. There is a POSSIBILITY that they are lying. If, in fact a tax refund was taken from her and applied to the balance it is VERY DOUBTFUL that the CA is/was actually involved. If you follow the program and send in the disputes to the CRAs and the accounts are NOT deleted, you can then proceed with the medical DV to the CA. This would require them to be able to furnish COMPLETE account information, including private medical data. If, in fact, the ACCOUNT information was turned over to the CA for collection, it would not/could not include a transfer of the HIPAA release, as that can only be assigned to a business associate of the OC ( hospital). In other words, the reporting CA MAY have the $$ account assigned but is still NOT allowed to report private medical data. Don't worry about how the tax refund is allocated, it is VERY DOUBTFUL that the CA will get a dime of it or that their claim is valid. By following the HIPAA letter program you will be able to find the truth and resolve the problems and get your wife's credit cleared up. Ok, thanks whychat. This is encouraging information. I just find it so odd that the Attorney General won't let me discuss the issue with them. I haven't talked to an actual person, but everytime I call the robo refers me to this 'Eric Jones' Attorneys in Columbus area, aka the supposed CA. The OC did say that any tax refund offsets will not reflect with them for up to 2 months. Which is unfortunate because that could be just enough time to push the debt remainder of the debt to her employer for garnishment, which I want to avoid. But nonetheless I will start proceeding with the program to see what I can accomplish.
  20. Yes this is a surgery done at UT Medical College of Ohio (state subsidized/funded). My two goals are to resist CA fees (if possible). And determine ahead of time if the tax refund offset will be applied first to original balance or CA's fees. If this amount goes towards original balance she will only owe about $50 more. Does the CA typically have a legal right to their collection fees, in this case about twice the original debt?
  21. Thank you so much for the info whychat. This is a state tax refund offset by the Ohio attorney general's office. The CA told me they were assigned by AG to collect debt. My main goal is to try to only pay original amount due to OC (not the tacked on CA fees). Is this a possibility?
  22. This happened 7 years before I met my wife, heart surgery #3. She was 21 at the time, of age yes but shame on her parents for not helping with this back then. OC and CA have been sending to wrong address for 13 years. Uncle sam took her state tax refund ($580) out of the blue this year or we wouldn't have had any idea it was owed. Amount $630 verified from medical billing (OC) statement forthcoming via US mail, CA says $1,200 is owed in total, hence some $570 in apparent fees. Have a couple questions: Will the amount siezed from her state tax refund be applied to OC debt, CA's fees, or a mixture of the two? Can I fight CA (assigned by Ohio attorney general) in an attempt to return the debt to OC (in effort to negate the fee)? FCBA violation, sending to incorrect address, etc... or am I playing with fire considering the Ohio AG factor?
  23. I hope to call to get this squared away later today but I have to post because this is just too strange. Yeterday in the mail I got a notice for state tax refund offset for $580. I received no notice whatsoever for any tax related debts. Aside from that, I'm a CB faithful who's rehabbed my credit and am now obsessed with keeping it squeaky clean. I don't owe uncle sam a dime, I'm sure of that. In fact I've overpaid my 2016 taxes pretty heftily. I called the state attorney generals office in Ohio and they said the total balance due was around $1,800 and the account was being handled by a collection agency. So my DW and I thought long and hard yesterday about what this could be. I eventually had an aha moment. I'm an Ohio resident but I bought a truck in Michigan a few months ago for $26,900, sales tax of 6.75% !!!. I paid 6% michigan sales tax at time of sale, and later paid 0.75% remaining in Ohio when I transferred the title and got plates. I have all the paperwork proving this. If you do the math this HAS to be it. How could someone make this big of a mistake? And do I have any legal recourse since I was provided no notice whatsoever? Now I'm stuck with cleaning this issue up. I know my options are limited since I'm dealing with big brother, but I would like to at least teach someone a lesson. Especially considering this could cause me credit issues until it's fixed.

About Us

Since 2003, creditboards.com has helped thousands of people repair their credit, force abusive collection agents to follow the law, ensure proper reporting by credit reporting agencies, and provided financial education to help avoid the pitfalls that can lead to negative tradelines.
  • Create New...

Important Information