Jump to content


  • Posts

  • Joined

  • Last visited

Recent Profile Visitors

880 profile views
  1. Thank you, all! Just got the appraisal today - all good on that front. Very basic conditions asked for from the mortgage underwriter so no worries, there. I'm thrilled that this is happening and I hope sharing my experience will help others.
  2. Hey, y'all. Been away from the boards for a while but haven't stopped working on my credit. So, I finally reached the pinnacle of my credit (and financial) journey - home ownership. Yay, me! At 40 years of age, it's been getting pretty ridiculous that I've never owned a home of my own and, with a teenage son just entering high school, I decided that finally needed to change. Because I entered this process scared witless thanks to years of reading horror stories, I was astounded at how easy the whole thing ended up being. Figured I'd share my story to provide some insight for others. As with anything, your mileage may vary, but this is my experience.... Baseline: I'm a single dad. I have seven decent credit cards, a student loan, and a 13-month-old vehicle loan. All three FICOs are hovering around 660 with five negative (but paid) accounts all due to fall off next June. All open accounts are crystal clean and utilization is approximately 30%. My income is $90,000 and I've been with my current employer for over 2.5 years (in my industry for nearly 20 years). Process: I decided to bite the bullet in early June and go for a pre-approval to see what I could get. I was asked how much I was looking for so, knowing my local market and my own monthly payment range, I asked for pre-approval on $250,000. I specifically asked for approval through the USDA Rural Development Program which provides $0-down mortgages for qualifying rural property. After a tri-merge pull of my reports, I was given the pre-approval for my requested amount. The only documentation requested by the lender was as follows: Two years of tax returns Two months of bank statements Two most recent paystubs Two most recent 401(k) statements The Home: Saw a property at 4:00am Saturday morning that had just been listed at 10:45pm Friday night. Scheduled a showing for 3:00pm that afternoon, made an offer at 9:00am Sunday morning, and offer was accepted at 4:00pm Monday afternoon. Ho-Lee-Fast! Offer was made for $220,000 and asked for quite a bit back at closing to cover costs. Nice little 3-bedroom with a single-car attached garage, full walk-out basement, and about a half-acre of land. The Process Continued: Home inspection was completed within the agreed-upon period of ten calendar days. Appraisal was completed the next day and I am currently awaiting the results. The mortgage application package has now been submitted to underwriting where it will receive the final approval. I was asked yesterday to send an email clarifying my marital status and certifying that I do not pay child support due to an equal custody arrangement. Other than that, my mortgage guy feels very confident that everything will go through. Anyways, figured I'd share my experience so far. As I've been saying for many years: Thank you CB for the knowledge I've acquired that's allowed me to quite literally change my life. I was laid off in 2006, separated from my son's mom that same summer, and lived in my Ford Explorer for nearly seven months during that time. Today....I'm here. Couldn't have done it without this community.
  3. https://creditboards.com/forums/index.php?showtopic=561941&do=findComment&comment=5433057
  4. Yeah, that's what I was wondering. I know I've read that you can only have two products in that category (Platinum, QS1, and Secured). Not a big deal - I just happened to notice the difference today and was curious about it. Wonder if Capital One even realizes they're doing this or if it's another "one hand doesn't know what the other's doing" thing....? That was...umm...insightful. Thank you.
  5. I opened a $300 Capital One credit steps card back in December '15. Didn't really look too closely at what card it was as I was just thankful to finally get approved for an unsecured card at the time. When the card arrived, it very clearly said "Quicksilver One" on the face so I thought that's what my account was. Yeah, it took over a year 'cause I'm kinda' slow, but I just noticed that my online account AND all of my printed statements going right back to my very first one say "Platinum Mastercard". So what do I actually have??? 'Cause, here's the thing: The Platinum doesn't have any rewards, right? But I definitely get 1.5% cash back and I definitely paid a $39 annual fee on my very first statement. The other day, I decided my scores were high enough to start crowbarring my way higher. So I picked up another QS1 along with a Discover, Chase Amazon Prime VISA, AmEx Blue Cash and CLIs on Walmart and my original Cap1 (Platinum???). Interestingly, Cap1 refused to give me more than a whopping $250 CLI on my "Platinum" (for a total of $1,550) but approved me for $3,000 on the QS1. Errr....okay? But the good news is that that original account is now my lowest CL. Anyways, just wondering if anybody else has seen this happen and if it will mean anything for future PCs?
  6. https://creditboards.com/forums/index.php?showtopic=561941&do=findComment&comment=5433057
  7. Portfolio will never PFD. However, they are notorious for erroneous reporting so find some errors and send them an ITS based on FDCPA violations. This should help: https://creditboards.com/forums/index.php?showtopic=561941&do=findComment&comment=5433057
  8. The statute of limitations refers solely to the time period within which a collector can pursue judicial means to compel payment. In most states, non-judicial collections activity is perfectly legal until the end of time. The only thing they can't do after the expiration of the SOL is file a civil complaint against you. On a related note, even after the FCRA-defined SOL for reporting activity expires, they can still attempt to collect on the account - they just can no longer report the account. However, in some states, collections activity post-expiry of SOL is illegal. This is what TX-Bluebonnet is referring to.
  9. Got multiple alerts from my monitoring services last Monday about a new collection account from Convergent Outsourcing on EQ and EX. 35 point drop on EQFICO, 25 point drop on EXFICO. Got on the phone with Convergent Tuesday morning, made them tell me the actionable date on the account - 2011. Politely told the guy it was past SOL for legal action in my state so I would not be doing anything with the account. Then put on my best lawyerly voice and told him I would be mailing out an Intent To Sue letter that very day alleging erroneous details in the reporting of this alleged account and that, due to the "strict liability" nature of the FDCPA, the amount of my winnings would far and away exceed the alleged value of the account. He politely told me he would "update the account". Nice guy. Gone from EX literally that night. Gone from EQ the next night. Never showed on TU. Edited to add: Account was on my reports literally less than 48 hours.
  10. Just chiming in - it happened to me, as well. I received the alerts from all my monitoring services about the HP but it never actually showed up on my TU report which I refresh daily.
  11. Try this: https://creditboards.com/forums/index.php?showtopic=561941&page=1
  • Create New...

Important Information