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ess

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  1. Just posting an update. It's a slow process but I finally got a reply from TU and it has been Deleted. One down and two to go, although I'm not expecting Experian to delete it. From what I read they are the hardest to deal with.
  2. ess

    Authorized User

    I'm filling out a Financial Worksheet do I add in the amounts that are owed on the credit cards that I'm an authorized user on? They are my husbands credit cards and I'm listed as an authorized user on my credit reports. Is it still considered my debt as well?
  3. ess

    What are my chances?

    Yes, that's correct. That's what I want to do. Use my husbands portion of the equity as the down payment. My concern was the debt. How would I show that all of that would be paid off at the time of purchase and would they even aprove us for a mortgage without the debt being paid off first? The down payment alone would be more than 20% with enough left over to pay off the debt. We are not looking to walk away with cash in hand. If worse comes to worse my husband walks away with his 1/3 of the proceed, we pay off the debt and look for another house. But, by purchasing this house apparised at 230,000 for 180,000 we'd be owning a house with an equity value still in it. The house will not need any major repairs done to it in the near future, the roof is new (6mos) there's no leaks or cracks in the foundation, windows and appliances are all within a year old. Excellent neighborhood on a cul de sac, low taxes and good schools. This house has gone down in value by 100,000 but with any luck they'll be a turn around within the next ten yrs when I'd probably sell it. I'm looking at the value of the house I could care less about the house itself. To find a house like that for 180,000 that's not in foreclosure and wrecked in Connecticut is a gem.
  4. ess

    What are my chances?

    My MIL left the house to her three sons. I quess I didn't make that clear enough. All I know is when my son's house was going into foreclosure my husband bought it first before the foreclosure went through putting no money down and rolling the equity in as the 20% down payment. All debt was paid off from it. So, the seller (our son) basically gave his father the equity in his home in order to buy it. No money exchanged hands. All debt was paid from it. I don't understand why my husband can't do the same so the buyer (me) doesn't have to put any money out of pocket. I'd be using his equity. Unless things have changed in the past two years. Do I take a mortgage for 180,000and pay each brother their 75,000 each? Now I'm getting counfused. They would be selling me the house for 180,000 than and when the monies were disbursed to them the balance would be disbursed to the credit card companies.
  5. ess

    What are my chances?

    There is no mortgage on the home. The house is to be split three ways so my husband gets a third of the house sale. I'd take out enough to pay off his brothers and pay the debt. That would still leave equity in the house of at least 50,000 according to the assessment. I'd be buying it with my DIL. Between our salaries we make enough to cover the ratio.
  6. My MIL passed and left the house to her three sons, no mortgage on it and it's now in probate. No problem there my boss is handling it. I'm thinking of buying it with my DIL since my husband already has a mortgage in his name. I'd be using his 3rd of the house as down payment. The house is assessed at 230,000 I'd buy it for around 220,000..maybe less I'm waiting to see what offers come in. I owe 23,000 in credit card debt 30,000 if I tack on my husbands which I don't think I have to since I'm an authorized user on them. I'd probably need a mortgage at the the highest of 180,000 which would pay off his brothers and my credit card debt and still leave an equity of 50,000 in the house. Scores are in the 650's, one 3 1/2 yr old medical collection for $112 which was paid 1 month after it went into collection, I missed that bill somehow. I'm in the process of doing the HIPPA but it might not come off. No lates. DIL has a 4 yr old BK and no lates haven't checked her scores yet. Would we quailfy for the loan and would it have to be an FHA loan? I think rates are better with a conventional loan. Our scores aren't high enough but we'd be putting down more than 20% and paying off all debt with the loan.
  7. Thank you. I will get started on this today.
  8. Am looking for help to remove a paid medical bill of $112 from 3 1/2 yrs ago. It had been paid about two months after it went into collections. To make a long story short, I had started a new job and my mother was terminally ill. I was paying all my bills online but this doctor bill slipped throught the cracks. I've been a patient of his for over 20 yrs and always paid my bills. I disputed it online back in April with Experian but it came back as verified. I called the billing department of my doctors office yesterday and she can send me a letter stating it was paid but she said it's been to long so she can't call the collection agency to have it removed. She also told me she never received a call from Experian to verify it and she said they do receive calls for verification so Experian lied. It's now the only blemish I have on my credit reports and I'm looking at purchasing at house. My question is how many points does this hurt my fico score and what should my next step be to having it removed? The collection agency is IC System but I don't have an address. Do I send a goodwill letter to them? Thanks for your help.
  9. Different scoring for car loan called the FICO Auto Industry Option, first I've heard of it. It says only dealers/finance companies are able to pull this score. Since I'll be in the market for a car soon should I not worry about my Classic Fico Scores in the mid 600's? My car loan will be paid off this month and I've never been late, no repos, no bankruptcies. Should I ask the dealer if they only pull FICO Auto score only? I know I can get a loan but I'm looking for the best interest rate available to me.
  10. Make it the 4X4 version and we're going car shopping together. I've found nothing I liked as well as the Cherokee. I have to agree with this one. One more month and ours will be paid for and now I need a car so we're getting another one. Can't beat the warrenty, it's the first thing I look for when buying a car.
  11. You might get some answers if you post it to the Mortgage Forum.
  12. This could just be the first step. If they didn't get the full amount by seizing you checking account they could start a wage execution. I'm surprised they didn't do that first.
  13. I had that happen to me once way back when. When they got indignant with me I just kept saying "hello...hello...than I made believe I was talking to someone else and said I don't know what happen we must have gotten disconnected" and I hung up the phone. That was back in the day before caller ID.
  14. ess

    New to AMEX

    Use the card as you would like to.... Don't buy into the "sky is falling" rants about AMEX. That's true, this board freaks me out about AMEX it's a horrible way to feel about a cc. We really took it out for the extra discounts Alamo was giving with using the AMEX but gheez...I might want to use for something else.
  15. ess

    New to AMEX

    I called and told them we will be using the card on vacation to rent a car etc. since it's a brand new card. She said she'd make a note of it on our account and do I know how much we will be spending? I told her I don't know but the rental is around $300 (I over rated it) and probably to pay for some dinners, etc. How the heck would I know how much it will come to? What do they do, lock your account for x amount of dollars? Our credit line is for $5000, what if I want to use it all or an emergency happens? I have a back up cc just incase but what's the point in having the card if you can't use it? Should I just use it to pay for the car and dinners and nothing else...like a souviner or clothes?

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