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shonre

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  1. shonre

    Please review GFE

    Thanks to all who provided input. Will keep you posted.
  2. shonre

    Please review GFE

    My credit score is 743 (Experian) and 723 (Equifax). I don't have my Transunion score. I'm only putting down 5% though. Due to the timeframe left (15 days away from closing), not sure if it's worth shopping around or not..thoughts?
  3. shonre

    Please review GFE

    The origination fee was just a single line item on the GFE form. Should I ask for a breakdown of it? There is mortgage insurance, but not the PMI that is originally associated with FHA.
  4. Hello, I'm in the process of trying to buy another home. I know I have a lot of catch up reading to do but boy has things changed a bit since I last went through this process 7 years ago (thanks to Creditboards of course). I'm somewhat doing a quick closing (< 30 days) so I wanted to go ahead and post a GFE from a preferred credit union lender to determine if I should shop around. This is a 5% Conventional loan. To me the title insurance and origination fees seems excessively high: Interest Rate: 4.5% Purchase price: $172900 Closing Costs: Adjusted Origination Charges: $2949 Appraisal Fee: $450.00 Credit Report: $45 Tax Service: $57.00 Flood Certification: $9.50 IRS Return Verification to Elle: $24 SSN Verification: $5.00 Title Services and lender's title insurance: $500 Owner Title insurance: $1329.00 Government Recording Charges: $145 Prepaid Items: Initial Deposit for Escrow account: $1041.65 Daily interest charges through 5/17: $319.75 Homeowner's Insurance: $1299.96 Advice/Thoughts/Comments appreciated..
  5. So I was one of those homeowners who purchased in 2007, with a high interest rate (6.5%) but never refinanced. It is now 5 years later, and I wanted to put my house on the market 2 years ago, but obviously that couldn't happen, without me bringing a large sum of money to the table (via realtor fees, upside down costs owed to Chase, etc). I've recently inquired about putting it on the market now, and it's still not a good time to do that. However, I'm now faced with the decision to either refinance and stick around for 2 more years, or keep my current loan as is and try to look into selling it again next year (and that's assuming that the house appreciates to where I would at least break even). I'm not sure what's the best decision to make so I thought I create this thread for suggestions. I do have a FHA loan, and had I accumulated 20% equity, I would have been eligible for the PMI to drop but I don't think that will happen, given the retail value of my home, which is about 12K less than what I owe. Please advise. My first preference is obviously to sell and move. I've been so unhappy with homeownership. I do not have any financial difficulties at the moment. If it's better for me to refinance, how do I even go about finding the right lender to work with, for a FHA streamline, especially one where I do not pay in closing costs upfront?
  6. Wow congrats!!!! Glad it worked out in your favor..
  7. Was that a different CA or was it Palisades? And did they fail to remove it as they claimed they would do? -R Racer, it was Palisades; believe me I've been dealing with them mudslingers for a couple of years now. To my knowledge, it was never removed and I just pulled a new CR (they are only reporting this on TU and EQ). I actually have a pretty good paper trail on them and considered just going straight for legal action but then again this is slated to drop off in 4 months so I'm wondering if the hassle is really worth it. Currently working on my Jack Attack though...
  8. OK thanks for your suggestion; should I DV them again? I forgot to mention that I do have a letter from last year(sent via the BBB) that mentioned that they removed the CA entry, pending validation from the OC. The thing is I know that the OC doesn't have any documentation because I contacted them directly a couple of years ago to try to determine what this CA was for.
  9. Dreadfully, I'm back at dealing with them as they keep reporting these 2 wrongful CA accounts (not within TX SOL btw). Right now I'm only targeting one CR (Transunion) at a time, and I noticed that one erroneous entry are slated to drop off in 4 months (supposedly). However, the other one drops off next year so I want to try to remove both of them now. Plus I think they are the reason that AMEX keeps cutting my CL (maybe huh?) due to my not so good credit score and "risk". I've already did DVs via CMRRR on both of them and disputed with the CRAs which has stated it has been previously investigated numerous times so I took about a break (about a year). I want to take a different approach with them but definitely need some suggestions. Have anybody seen where these Palisades CA accounts dropped off on the dates that they were reported to? What can I do now vs later (to make sure they STAY off). I've been researching on the Jack Attack but should I attempt this even though I've done numerous disputes in the past (using both handwritten and online methods)?
  10. I received the same response when I requested that a 30 day late be removed from my closed MC via PlanetFeedback. Any suggestions? the "late" was a result of the $1 dollar monthly annual fee they were still applying to my account after I closed it! I feel like it's unfair that my credit has been affected...
  11. bumping...any updates to this? How was the dispute done? Online or in writing?
  12. Wow! I got hit as well..my CL was cut back pretty much to the balance..what is the reason for this tactic? Has anyone tried to call customer service and resolve?
  13. Thanks everyone for their responses. I totally forgot today was a holiday, so the LO is unavailable today. I'll get my approval status and report back soon.
  14. Thanks Nick! I want to say that I should be "approve eligible" because the LO did say he ran it through the automated underwriting system. Another thing, what do you propose my middle score should be to qualify for 80/20? How is the middle score determined? I'm thinking it is 668?
  15. Thanks Brian, I'll have to inquire about what level of approval I received I guess I'm curious as to how this mortgage lender is benefiting (making money) from the loan. I have included a more detailed GFE for the 100% Conventional: 801 Loan Origination Fee 802 Loan Discount 803 Appraisal Fee 350 804 Credit Report 21.50 805 Lender's Inspection Fee 808 Mortgage Broker Fee 809 Tax Related Service Fee 81.00 810 Processing Fee 475.00 811 Underwriting Fee 275.00 Flood Cert 20.00 Title Charges 1101 Closing/Escrow Fee 250.00 1107 Attorney Fees 125.00 1108 Title Insurance 275.00 Title Endorsements 125.00 1302 Pest Inspection 400.00 900 Items Required By Lender to be Paid In Advance: 901 Interest 15 days@32.7740 491.61 903 Hazard Ins. Premium 1,105.56 1000 Reserves Deposited with Lender 1001 Hazard Ins. Premium 2 months@92.13 184.26 1002 MTG Ins Premium Reserves 132.00 1004 Taxes & Assessment Reserves 3 months@309.38 928.14 Total Estimated Funds needed to Close: Purchase Price: 165,000 Est Closing Costs: 2497.50 Est Prepaid Items/Reserves: 2709.57 Total Estimated Monthly Payment: Principal/Interest: 1125.59 Hazard Insurance: 92.13 Real Estate Taxes: 309.38 Mortgage Insurance: 132.00 Total: 1659.10

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