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FREEDOMSEEK3R

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  • Location
    Lafayette, In
  • Interests
    Reducing Liabilities, Adding Assets
  1. No, not on the North side. I looked but didn't like what I was seeing. I opted for the small neighborhood behind Miller Elementary on top of the hill. Property taxes are only $300/year. I am buying this house so I can play catch up with getting ready for retirement. I need to sock away some cash in investments asap. I have a debt snowball plan already in play and will be debt free by June. My original goal was 2 years but the purchase of this home sped things up quite a bit. I don't have perfect credit by any means. My mid credit score is 650 with a BK 2002, 3 IIB's, 1 paid Judgement, 1 CC pd as agreed and a car loan since June that is paid as agreed. I went through IFCU Mortgage on 52. Told them that the home I was looking for would be less than perfect and that I would need conventional. They had no problems getting me financed. They said I came back as 0 risk. Originally I was slight risk but I came to CB and did some work. I'd suggest looking into IFCU. Ask to speak to Elizibeth and tell her Gary sent you (the guy she is working on closing the loan for). Good Luck.
  2. Noticed you're in Lafayette ---I'm in West Lafayette My dh and I are getting ready to purchase our first home and have been working with a local broker who has access to a lot of different lenders offering different types of loans. Anyway, just wanted to say congrats on your new home GL ! Small world...good luck with yours as well! Is your broker with tippecanoe mortgage? I was approached by them after I already found my own funding. I had to have conventional for my loan as the home wouldn't pass FHA inspection guidelines and the owner doesn't do repairs. Are you shopping in Lafayette or West Lafayette?
  3. Wow this process seems like it is taking forever. I am waiting on the seller at this point. Need to get a closing date set so we can wrap things up. I'm glad I started this thread and continued to post updates. It has given me a basic timeline of what happened and when. Should be closing sometime next week. Life will get real busy then.
  4. I recently realized that everytime I logged into my 'truecredit' account I was loosing 1 inquiry from TU. Then it hit me....OH....that's B at work...duh. I know that B don't work for EX and I am now waiting for it to start working with EQ. This is a nice side benefit of credit monitoring.
  5. No George, it is above me. I would gladly take an offer like that. I would then put the money in my 4.4% earning account until the 0% expired. I don't get offers under 20%. One day I will be able to do some of the things that you have taught me are possible, just not today.
  6. old thread, I know but had to add. I tried this when I puchased my last washer/dryer set. I walked in. Found what I wanted. Told sales rep I would like to start a charge with the new items. They ran credit and declined. I pulled out the cash and inquired "You mean I can't get credit even though I have enough cash on hand to buy?" Guy said "Weird, I know, but true. I cannot approve you for credit due to your credit history and store policy." I paid cash. Good thing too. They cost me approximately 20% less considering what the interest would have been. In hindsight, I am glad I was declined.
  7. Update: My offer was accepted and I have purchase agreement in hand. Waiting on appraisal to go through. I was originally quoted 8.5% on the loan and then enter CB and a little work on my part. I locked in at 7.87%. They offered a lower rate if I would buy more home. Not biting. Loan has not yet been submitted to underwriters so that is the next step. I asked about my scores and received a decent response. I was able to bring my median score up 50 points in 2 months time. Only a matter of time until they rise again. I will report progress as I get new details. The process seems slow as I put in an offer and it took 2 weeks for me to get up to having a purchase agreement in hand. Any ideas how long the rest will take?
  8. applied, was denied due to BK 2002
  9. damn Java, don't take it personal it hates me too.
  10. That reminds me, I need to call my mortgage broker and ask what my scores were when she pulled them Thursday. I had forgot to ask. Thanks for the reminder
  11. Congrats! Down to 30% util...I see the Prosper loan has treated you well.
  12. Surely that's a typo - the 24k, right? All in all, sounds like you're on the right track thought! Yeah you read it right and no typo If the offer is accepted, I'll upload a few pics.
  13. My story continues: I have been watching the market for new listings while working on repairing my credit and planning for the future. My credit is on track for the first time in my life. I decided it was time to begin thinking seriously about my ability to retire. I am a 35 yr old divorced male who doesn't require much. The other day I got a hit on a listing for a small HUD home in my neighborhood. $24k in need of about $2k in repair. I put in an offer. If the offer is accepted I will be in great shape! My paper calculations show that I will be able to pay off all outstanding debt in less than 6 months except the mortgage and be able to pay all of my monthly bills on one paycheck per month leaving me with 3-4 to invest or pay down the mortgage with. I am very excited. There is still the "IF" part about the offer being accepted though. My agent says I have about an 88% chance it will be. Wish me luck!
  14. They all have different scoring models. for more on the subject search "faco vs fico" and sift through a few threads. You'll get the idea.

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