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Posts posted by TiredofAdulting

  1. 13 hours ago, tiggerlgh said:

    I was no where near the cut off when I bought last home so it had no affect on me but I had called the cable company same day as closing and they had a hard pull. As a result I had to write a quick LOE for the file on the hard pull. They weren’t concerned about it but now I do wish I would have just waited.

    Thanks for the response. I'll just wait too.

  2. 15 hours ago, CTSoxFan said:

    I'd be careful there.  In 99% of cases, I would agree that INQs are essentially meaningless, however, if he/she is close to a cut off point for qualifying for a better rate (say a FICO of 741 for example), the hit from the INQ may cost them the couple of points they need to stay in a higher tier. 


    OP - I would ask your LO what the process is and what the cutoff is for the best rate possible. If you are safely above the gut-off or past the last credit check then go ahead and set up your utilities.  If it is close I would wait until you're in the clear. 

    My scores are perfect. My spouse's (who is also the vet) scores are the ones we had to work on. We are also locked in our rate. The LO gave such a vague answer. I sent an email to confirm what she said and copied other people on it. I'm still waiting on a response.


    I think I'll just wait until closing day. I'm just annoyed because I won't get a promotion they were offering with the security system.

  3. We pre-qualified for a home loan in October 2018 for a new construction home. We are still waiting for the home to be completed. The Loan Officer pulled our credit again in March (because we were expecting to close around this time). Loan officer advised that our credit information was good through 07/2019. If we don't close by the end of May, we will have to submit new employment information. If we don't close by mid-June, we have to re-certify statement of service.


    My question is: how likely is the loan officer to pull our credit again prior to our tentative closing date of 05/24? Is that the usual process? I'm wondering if I should go ahead and setup cable/utilities/security system prior to close when it's a hard inquiry for each company. My spouse is leaving at the beginning of June so it only gives us 2 weeks to get everything situated for the house.





  4. Good morning,


    We put a contract on a new-construction that was supposed to be completed 03/01/2019. We were approved for a VA loan back in October through the builder's preferred lender.  We paid $1000 earnest money via cashier's check. We also paid $3,150.00 in upgraded options, that we used a balance transfer check to pay for. We were told this money would be used towards closing costs.  


    Fast-forward to today, the lender is now stating that the $3,150 we paid cannot be used towards closing due to it being borrowed funds. My rebuttal is we've paid $4,900 in payments to the card since October. Shouldn't that count for something? Also, the lender is saying the builder will have to refund us this money 21 days AFTER closing. Is this normal practice?


    ALSO, the lender made us pay $537.24 for an appraisal fee and credit monitoring fee in October. Yesterday, while reading through the sales contract, I noticed the builder was supposed to pay. Upon contacting the lender, they said they would refund the money back to my credit card. I asked them when I would receive the credit and haven't gotten a response. Can they keep this money until after closing too?


    The rest of this is just background/venting session:


    The house still isn't move-in ready and it appraised for $3,550 less than sales price. We are waiting to hear back from builder on whether or not he will be lowering the sales price. However, the builder's agent seemed irritated that we asked because they've already lost money on the house due to: a) their mistake in installing the incorrect cabinets in the bathrooms and kitchen b) their mistake in installing the wrong color roof (one shade lighter than we ordered) & the wrong color siding (one shade lighter than we ordered which they compensated us with 2-in faux blinds through the house and c) their having to stall the project due to not having permits with the county for water meters.


    Last week, they wanted to close on 4/26, however, we're not willing to close at the end of the month. We've had to extend our lease on our current rental on a month-to-month basis which includes a 13.5% premium each month. So we want our first payment to be due in July. We also did not want to pay that much interest so we picked 5/13 as the closing date.


    Please help a first time home buyer out with any advice on the above question or other things we need to know at closing.

  5. Keep in mind that even if they are not reporting, you will be committing fraud of you deny the debt on a credit application such as for a mortgage or auto loan for example, and potential creditors may discover this before you can get approved, especially for a mortgage.


    To clarify: do you mean if it's not reporting within the 7 years, then it's fraud NOT to claim the debt? Or, after 7 year, it's fallen off my credit - it's still fraud for me to deny the debt?

  6. Hi and welcome!


    Navient can be both private OR federal. Consolidating your federal loans is still a decent idea, especially for the 10 year public service loan forgiveness. To check to see which loans qualify, you'll have to set up a account with studentaid.gov, then get on the nslds.gov site. Can't get on nslds without a student aid account, but it will list every federal loan taken out, when, balance, etc. Student aid will help with the consolidation process, and it's really straightforward.


    If your Navient is federal, settle before consolidating. If it's private, check the statute of limitations in your state and when you defaulted. If you're not sure on the SOL, list both answers here. Get paper reports from all 3 CRAs and don't talk to them. If it's due to drop off your reports this year, there's a good chance you're out of SOL, and can dispute it as obsolete.


    Sent from my LG-M150 using Tapatalk


    Thanks so much for the response, Tralston.


    • I googled and the SOL in my state is 3 years for installments, promissory notes, and CCs. I decided to go ahead and just let if fall off.
    • And, I logged into the nslds.ed.gov website and the Navient loan is not listed; so it is definitely private.
    • Also, 3 out of my 9 loans are not eligible for PSLF so I'm going to go ahead and do the debt consolidation; I start payments in August this year.


    I am feeling good about my student loans situation for the first time in years! :yahoo:

  7. UPDATE: So, I may have found the answer to my own question. Per the article below, my loan is actually PRIVATE because it was charged off. Federal loans cannot be charged off? Does that sound legit? I'm kind of confused STILL because I read somewhere else that Sallie Mae (which was my OC) are now private loans and Navient is the federal loan...





  8. Welcome to CB! :)


    Bumping your post for the evening crowd.


    Thanks, Kat58.


    In addition, I've done some research on the topic from reading other credit boards. I've read that just because the loan comes off my credit report, doesn't mean that I can't be held responsible for the debt because it's a federal student loan with not statute of limitations. So, I'm leaning towards trying to include it in my student loan consolidation.


    Still, I ask: Student Loan consolidation or settlement?


    *sigh* :bump:

  9. Hi Guys,


    I have a Navient Student Loan that's in a Charged off status. Per Experian, this should be on my record until Sept 2018. (I originally borrowed $8,500.00; they wrote off $10,550.00 & the current balance of 04/13/2018 is $14,322.00). All of my other federal student loans are in deferment until August 2018 and I am considering doing a federal student debt consolidation loan. I was thinking of doing the debt consolidation loan to make sure all of my federal loans qualify for Loan Forgiveness. As a public servant, my student loans will be forgiven after 10 years of on-time payments to a qualifying loan.


    Should I try to get the Navient Loan included into the debt consolidation? In the past, Navient has also sent me settlement offers to pay about $2500.00.


    I am unsure if I should include Navient Loan in the debt consolidation or borrow from retirement plan to pay them a settlement and leave them out of the debt consolidation.



    Thank you for any assistance you give on this matter.



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