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  1. I have had my business since 2006 and have built up business credit since 2007. I have had numerous no PG cards since that time (and PG, as well). Unfortunately, many have gone by the wayside since the credit meltdown a few years back. Anyway, after seeing some here getting no PG approvals for the Conoco 76 gas card, I applied. I left the PG field blank and after getting a call to verify some business info, I was approved. I got the cards the other day in the mail. Then today I get this letter today. What the? I never PG'd the card or put any personal info on the app. Anyone else get a
  2. I am one of those that acquired my Key Bank MC back in the day before you had to PG them (2007). I have had the card since that time and have kept it in good standing. I don't know who the original UW was (Citi?) back then, but the UW changed to Elan back in 2009 and now Key Bank underwrites their own branded cards. Since Oct. this year (2013), I beleive. Anyway, I hadn't used my card in a while and was checking on my online account and couldn't log in anymore. I called the number on my card and they told me I had to re-enroll on the Key Bank website now (this is due to the accounts be
  3. I originally acquired my Key Bank MC in 2007 with no PG required (did the X in the "personal guarantee" part of the form, as most did back in the day). I think at the time the card was underwritten by Citi, but then in 2010 Citi sold their credit card portfolio to Elan. In doing a Google search today I stumbled across this article, which I felt was great news. It seems that Elan really didn't base it's creditworthiness off of business CRs for new approvals or CLIs, but only personal CRs so I hope the change to actually being UW'd by Key Bank changes that and the cards become real business card
  4. I meant "request the closing docs" above when I was speaking of my mortgage broker possible losing her job (she did not want to request them with the acknowledgment (I had told her about it before in an email as well as phone conversation) of the land contract but did request them after I talked with her about the specifics of the contract at my approval. After that my friend paid off the contract before closing due to my not feeling it ethically correct to close with that contract not paid in full or removed). Just clarifying as I cannot edit my original post now.
  5. Well, we had discussed paying her back but nothing was for sure. In the state I live in, real estate contracts MUST be in writing and notarized to be legal and there was never a new contract drafted, signed or whatever before or after closing (even to this date), so this debt is not mine anymore, in fact, there is no debt as the land contract is paid in full (and I have texts from the friend that says I don't owe her anything as she owns the land now and there is no contract). Also, most of the discussion was for my business to re-purchase the land (I had been wanting to do this for some time
  6. Thanks for all of your kind responses everyone. OHO I re-read your posts and now see why you were so hard one me before. You thought I had actually gone through this process before when purchasing the first property. I hadn't, as that property was from some guy on Craiglist who owned a parcel and sold it with a privately drawn contract and did not even pull credit (He advertised it with "no qualifying terms"). He also never recorded the deed in my name at the county. So basically I drove by the property, called him up, met him at Starbucks and gave him down payment and signed his printed
  7. Just wanted help to try and sort this out. Also wanted to find out what could potentially happen as a result if fraud was commited as I wanted to come clean and fess up if it did and possibly take the consequences (which I don't think anyone was clear on). I honestly want to do what is right in my heart even though I am human and can make a mistake.
  8. I am sorry you feel that way OHO, but I honestly did not know for sure that what I was doing was wrong as purchasing a home is a complicated undertaking and I needed to rely on professionals to guide me. That is my mortgage broker's job, IMO, I think. Anyway, after thinking about it (and praying) I came to the conclusion that no fraud was done. The reason I now feel this way, is 1. I never really knew for sure that obligations not on your CRs did or did not count and 2. When I did start feeling more and more that they might, I rectfied the problem by ending the contract and then my friend
  9. Thanks for all the replies everyone. The property was never recorded in my name and therefore would never have surfaced at closing. If there was any chance of that, I would have explained the situation and either signed or not signed depending on how it was looked upon by the person conducting the signing. I never "dodged a bullet" as none was or would have been fired. I just felt that something might have not been right with the process and wanted to correct it if need be out of moral obligation. I also never did much research on CB about mortgages, as I trusted ,my mortgage brok
  10. You are in the driver's seat, you could provide ALL information needed prior to close of your financial picture whether improved or not--goes both ways. I don't quite get what this means. Just answering your post, dont want to pile on the 'guilt' or pointing fingers...because honestly from reading I think you already knew you were doing something wrong by not disclosing. But to clarify what I meant...if you are claiming the positive change in your wife's income was not included then how can it be wrong if the negative effect a undisclosed loan on your DTI not being included m
  11. If thats the case then nothing was done illegally. The wifes income and all if not allowable would not need to be on there for the purpose of the mortgage it is only allowable income that matters if she just stsrted and it is part time that may not have been allowed. I would just make your payments and not worry too much about it but you asked so we answered I kind of get the feeling you knew the answer. Have a good weekend enjoy the new home Thanks for the help Brian. So at the time of closing is when you state that everything is accurate and that is when you are legal
  12. You are in the driver's seat, you could provide ALL information needed prior to close of your financial picture whether improved or not--goes both ways. I don't quite get what this means.
  13. Brian, what if the person who purchased the property and bought the contract out is wanting to keep it and I have no other obligation to it now?
  14. Well, at first I was told that if something wasn't on my credit report, then it did not matter. Then I did some of my own research (including here) and I got conflicting information. So after I felt it could matter, a friend of mine paid off the loan right before closing so it is paid in full. So I didn't know if that took care of the problem or not. Doesn't everything need to be accurate at the time of signing and closing and that is what you are agreeing is accurate and true? Quite honestly, the income of my wife had increased at the time of closing by a decent amount (for us), but o
  15. I closed on my first home Thursday, it got funded Friday, and then got the keys Friday too. I do have a question, however. I had a private owner's contract for purchasing a parcel of property with a 60 month term prior to signing. I was into it a year at time of closing. Thing is, this was not disclosed in my DTI (as well as to the lender) and was told if it was my DTI would have been beyond approval criteria even though I make way more money than what they used to qualify me as they could only go off my tax returns being self employed (I was extremely close to the cutoff DTI and just abou
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