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josephjrr

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  1. josephjrr

    VA Mortgage

    Wow that's damn good I had a situation where my mid was 618 and my dti was 2% and I got denied because they sent the statement they can't do VA loan without the required 620 I was hurt this was last month to be exact. I may need to come see you [emoji848] This might be the result of a lender "overlay" which isn't something intrinsic to the VA underwriting requirements. Go to another lender or find a broker with access to multiple lenders. My first shot at this after reading posts here and doing months of research I got pre-approved for less than I expected and with a higher interest rate than expected. I knew something wasn't right and kept searching. Sent from my iPhone using Tapatalk
  2. josephjrr

    VA Mortgage

    The key to my approval at 604 was 2 things: DTI The more debt you have the more income and money down you will need to compensate. I was right in the sweet spot at just a little over 40% Credit Yes I had a Chapter 7 bankruptcy 2 years ago. However, since that time I have meticulously maintained a good credit report and have been very aggressive in opening and maintaining revolving credit accounts for the purpose of utilization. Back to DTI. I can't over emphasize the importance of this, specifically backend DTI - your debt to income ratio after your mortgage is factored in. I had to carefully coordinate with my accountant to make sure I didn't take too many deductions which would lower my income. Of course I had to go through manual underwriting but I made it through with 3.5 and NO MONEY DOWN. I went through a mortgage broker that had access to multiple lenders so this was also a factor for me. Someone earlier asked who this was: Mortgage One LLC Sent from my iPhone using Tapatalk
  3. josephjrr

    VA Mortgage

    My mortgage FICO score was a 604. I obtained my VA loan. I had a bankruptcy on my reports as well so you should have no problem.
  4. josephjrr

    VA Loan 2 years after 7 BK?

    Just a small update. I'm working on getting the 2500 VA GI Bill overpayment paid to zero even though its scheduled to fall off EQ in less than a year. I think it's a given this will flag me from getting a VA loan with it still showing a balance. My question is will paying this off re-age the account and tank my scores? I must've asked the CSR 3 times the same question and she stated that even if I pay it in full tomorrow the collection account will reflect zero but the date of last update will still be 2010 so therefore it will still fall off in 2017. Is this even possible?
  5. josephjrr

    VA Loan 2 years after 7 BK?

    Thanks for the quick reply Brian! Now knowing what little you know here, is it possible to get a mortgage rate at or a little under 5%? Sent from my iPhone using Tapatalk
  6. josephjrr

    VA Loan 2 years after 7 BK?

    By the time I hit the 2 year mark after discharge this fall, my FICO mortgage scores should be around 640. Back end DTI will be about 38-40 percent. Gross income is at 92000 with the same job for 15 years. Besides the 7 BK the other negatives on credit reports are a VA education collection of $2000 from 4 years ago which I plan to pay off by fall and a student loan charge off from 5 years ago of $1000. I have perfect payment history since the discharge. I'm looking to obtain a 330,000 VA loan backed mortgage with no money down. So far I have $5000 towards closing costs. Is this doable? Sent from my iPhone using Tapatalk
  7. josephjrr

    bofa magic cli no.

    Mucho mucho thanks to the OP on putting that number out! I have been trying for the past three months to get a CLI after graduating off the secured card with just denial after denial from that luv button. The analyst, who was very polite, asked me several questions like HHI, job, years at job, why I went for a secured card at BOA, and what I wanted the CLI for. I told her I needed to have the option of a BT on this card, I went for the secured card because I had every other major CC and secured was the only way BOA let me in, and I want this CL to be compoable with my American Express and other cards. She came back after manually reviewing a soft pull and said my credit profile was great (wow...sounded real cool to hear a credit analyst from a major bank say that...guess all my hard work paid off...THANK YOU CB!!!) and my payment history on the BOA secured was excellent. She said since its my first increase she could only go to $1000. She said to call back in three months to get a bigger increase. 300 >>> 1000. I was about to give up on this card..thanks again OP!!
  8. josephjrr

    Equifax Just Dissapeared from my TrueCredit!!

    Last time that happenned to me it was the result of a split file. All my accounts went POOF. Go to the equifax site and get a credit report to verify everything is ok.
  9. josephjrr

    Preapproved Chase

    New accounts are always going to drag your score down for the first 6 months to a year. The length of your current credit file will determine how much of a negative impact the new account will have. For example, I opened up over ten different accounts last year. I estimate those new accounts were dragging my score down anywhere from 10 to 15 fico points. They are just now starting to age.
  10. josephjrr

    Wow this site really helped me, time for the second wave

    Congrats on your success!
  11. UPDATE: I followed up with a letter to thier resident agent which threatened SAG,FTC action against them as well as a lawsuit for violations. One additional obvious violation I noticed was that they didn't identify themselves as a debt collector in thier communications. Guess what..logged on to truecredit this morning and that account is now DELETED!!!!!!!!!!
  12. Ok...this depends. Are they not licensed as a collection agency or are they not "qualified" with the Secretary of State to do business? Assuming you are referring to thier CA license, I would complain to thier local BBB and the State of Louisiana of of Finacial Institutions. However, before even getting to that point, I would followup with a nutcase letter sent directly to thier registered agent in your state (see above...this shows you mean business) stating that you know they aren't licensed and threatening to complain to the BBB, SAG, and etc. if they don't delete within 15 days.
  13. Nope completely different company that your pulling up pryan. The company I'm referring to is out of Florida...here: FLORIDA DOCUMENT SEARCH
  14. W*O*R*L*D A_L_LI_AN_C_E C*O*L*L*E*C*T*I*O*N*S I know I'm being paranoid. I already did a search for them on this site and found nothing.
  15. HERE on the Maryland business entity search. Type in the name and then click GENERAL INFO and it tells all. Keep in mind I'm looking for the Maryland registered agent (not the CA's home state RA) since not having one is a clear violation of Maryland law.

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