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About sabwafare2001

  • Birthday 07/08/1983
  1. Wanted to get some opinions...... I have about $3500 at 3.88% to pay off my student loans. I'm paying $124 per month so I have a little over 2 yrs left. Currently my credit scores are in the 620 to 650s. I have the following credit cards: Capital One: 9700/10000 Credit Union: 2700/5000 Nebraska Furniture Mart: 600/3000 I was thinking about using the funds from the student loan to pay down the credit cards or having more cash flow in general. How will paying off student loans affect my credit score?
  2. Sorry about the lack of info, I'm kinda embarrassed. My credit scores are in the 620s to 650s. Down because of high CC utilization. I've only applied for one BT card so far and got denied. I fear applying for others will yield the same outcome. Also personal loans will have a higher interest rate than the highest CC. I have not inquired about a personal loan from the credit union. I have 2 credit cards with balances: Capital One 9600/10000 at 25% Credit Union 2700/5000 at ??(mid teens) Nebraska Furniture Mart 650/3000 at 0% The Cap One started out as 0%
  3. Reason I suggested a 401k loan is because I currently have one that's almost paid off. Used it for a down payment on our current home about 6 yrs ago. Therefore I not that worried about tax implications. However I understand why it's a bad idea. Although it ended up being a good investment since we have 100K+ in equity at the moment. Because of that we would have the equity as reserves from the sale of our home.....if we do sell. I understand about the credit card interest rate and I let it get out of hand by not paying it off. Also haven't been able to fully recover after ban
  4. I have some credit card debt for one card to pay off or pay down and the 25% interest has kicked in. I'm looking to eventually apply for a mortgage and would like to be in the best position possible. I would like to know the best method to pay it down: 1. Simply paying down the debt. At the moment the interest is higher than the principal. At the moment I cannot pay more than the minimum amount due. 2. Apply for a card with 0% for a period of time to transfer the balance. 3. Use a 401k loan at 5.25%. The monthly payment will be less than the credit card up to a certain po
  5. To avoid the PPP I would try to simply keep the house rented until a year after the rate renew. Which means a would try to sell toward the end of 2010. According to zillow, which I know may not be a good reliable source, I am upside down about 10 to 15K as of this time. That is the main reason I may not sell it soon.
  6. Hello, Back in July 2007 I financed a 100% interest only loan through ING Direct and National City. As of this time the payments are as follows: ING Direct: 80% LTV @ 6% 5yr IO w/mature date 7/2012 - original amount $162700, current amount $162585 - Monthly $813 - I pay $820 National City: 20% LTV @ 5% Line of Credit 7yr IO mature date 01/2016 - original amount $40650, current amount $39049 - Monthly $160 - I pay $320 I would like keep my Nation City loan, unless a better option comes up, since I have been lowering my interest rate which as currently now 5% and because the house
  7. A little update..... The withdraw fee will be $500 instead of $300 because I have two loans. $250+$250. The price change was made June 30th and I found out about it on 7-7. If I was told of the decrease before 7-6, they would not have been any issue meaning the lending would have stopped the finding of the loan. I feel it would be fair to compensate me for the cost I will inquire as a result of them not informing me
  8. Tomorrow (7-11-07) I was suppose to have my orientation and then visit the Title Office to sign the docs. However there was a price decrease of 7K for my floor plan. I found out about it on 7-7-07. Well since my lender has already sent the documents to the title company, now the docs has to be sent back to the lender and other parties because of the contract change. I will now be charged a redraw fee of $300, which will be included in my closing. Am I responsible for paying this? What if the price change happened weeks ago and wasn’t given notice of the change by the sales office? Is
  9. Thanks for the reply. The minimum payment on the CC is about $30. The interest rate will kick in May at 9.9% and the limit is 15K. The min. for my student loans are about $80. Concerning the 100% with no PMI, the lady said they no charge it because the investor doesn't require it. I don't have a GFE for this loan but it the interest rate was 6.375% with 0 pts. and 6.0% with 1 pt. The note came out to be $1270 with taxes, HOA, etc. included. Other than that I would have asked for a 80-20 or 75-25. My reason for going with this program is that I don't except to be in the house m
  10. Please provide any feedback of my GFE from Custom Home Lending. Also, I spoke with another lender that said they do not charge PMI on 100% financed loans because they are allow to do this. How can this be? My FICO is 743, income is 63K, has CC debt under 1K, 16K in student loans, and an Auto Loan of $540 or 30K. Purchase Price $210,433.00 Program 1st - 5yr. LIBOR ARM I/O Program 2nd - Loan Amount 1st - $168,346.40 Loan amount 2nd - $42,086.60 Discount Points 1st - 0.000% Interest Rate - 6.000% Discount Points 2nd - 0.000% Intere
  11. I make about 5K/mon. and looking (hoping) to purchase a house summer 2007 or sooner. I work as an Electrical Engineer in AZ for less than a year(10mon.) and married with no kids at this time (maybe in 1 or 2 years) and 23yrs old. Wife doesn’t work and didn’t come with any debt. Currently I live in an apartment paying $810 for 7 months now. Right now I am very hesitate to buy a house because of how high of a payment a house can be. Also, I think one of my savings accounts may have to go away or be depleted after buying a house. My credit score now is 737 and should rise as my balances
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