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SMViera

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  1. Not taken the wrong way. You are right and I can justify it a million ways but It all boils down to the fact that she’s a good kid and hasn’t ever given me one ounce of trouble and I felt That it was one thing I could give her. There is only $12k left on the loan. do you think if I refinance my car loan that it would negatively impact my mortgage refinance? Just want to make sure I know what I am getting in to
  2. She’s only 17 and has no income.
  3. And thanks ..... feels good to get rid of it. Never again. 🤪👍😋
  4. I know the car payments are killing me. If I could eliminate one I would. One is mine and the other is my daughters car. She drives back and forth to school (both hs and college) APR is only 2.9% on hers. The APR on mine is higher. I think 6.75%. I looked into refinancing it but backed off due to ridiculous finance fees from the lender. My plan is to actually work toward paying off the car debt once my CC’s are gone. Moving toward a debt free life... minus my mortgage lol.
  5. The 690 FICO score is middle mortgage Score. Just pulled my scores last night. Again I am hoping for a score bump once these tradelines report to zero. We shall see. Ideally I would like to borrow an additional $20,000 to pay off the remaining credit cards which would essentially eliminate that extra $400/month in credit card payments. Would that make a difference? The one credit card has an APR of 24.49% so I’d like it gone. I do get extra income from SS (survivors benefits for my daughter whose dad passed away a few years ago). Its over $2,000/month but that will be ending in a year and a half when she turns 18. I know they will not use that as income. Thank you for your replies.
  6. New account...old user. Hopefully I can get some good advice from the experts here. I am hoping to refinance my mortgage and have some questions about how to proceed. Info: Salary: 78K/year..solid employment in the medical field. Same employer for the past 8 years Scores at the moment: Mid score is 690, clean report with no negatives on any. My scores have dropped due to high utilization of CC DTI: high (75%) I built and closed on my house in Nov 2018. Owe: $295,000 Value: $400,000 (give or take a few thousand) I put 20% down to avoid PMI Current interest rate 5.25% 😕 By the end of this month, I will have paid off 32K in CC debt. I will have an additional 20K left on my reports but on cards with high CL's so my utilization will be low on the ones that are left. Other monthly obligations: Car #1 $657/month Car #2 #330/month CC's: $400/month (remaining 20K that is left over..this is an estimation but should be pretty close) So here is what I am hoping will happen (keep in mind...could be very different from reality as I really don't have a lot of knowledge about this) That's why I am here. I am hoping to wait until June to start the refinance process once all the cards that I am paying down have a chance to update to zero balances. What are the chance my scores would boost up to the 740+ mark (wishful thinking??) I want to pull out some of the equity to pay the remainder of the CC's, would this be an option or advisable? I assume that if pulling money out leaves less than 20% equity in the house then I would have to start paying PMI...is that correct? Am I taking a risk waiting until June? Although to be honest I doubt I will be approved which my current DTI. What are the chances of me getting approved at all? Is there anything else I should be considering? I will say that I am working two jobs at the moment which is how I am paying down my cc debt. Its only a six week contract but pretty lucrative. Will that income factor in to my DTI? Thank you, -S
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