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learning the hard way

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Everything posted by learning the hard way

  1. I recently recieved some unexpected money. I decided to pay off my credit cards. I thought since my ex wife has/is ruined/ruining my credit I could raise my score by showing a small balance again. I was applying the same stuff I learned on this board back in 04 when we filed BK. I figured I would pay off the cards and then charge the groceries for the rest of the month. A couple of days after I paid them off I tried to use one of them... DECLINED. WTF, I thought, so I checked the online status. They both showed the payment, but said that I had 0 balance available. I called they said they put a 7-10 day hold on the payment because it was so large. After waiting 7-10 days I called them back to find out why they had not released the hold. They used my last $33.00 that was available to cover my $39.00 annual fee. In anger, I said just cancel the card, and they did close it. Then, I called the other card to see what I could get out of them. They said that due to my recent credit report, they closed my account. Now, I have very little money and no credit card.
  2. Who usually pays for the abstract being brought up to date and the termite inspection? I am paying for it on the house we are buying. Well the seller is paying for everything today, but closing costs are built into the loan. However, when my dad sold his house a few years ago he paid for those out of his pocket. Who should pay for them?
  3. The fact that consumers are paying these fees tells me that if i dont use a credit card, then I am paying for something I did not get. So, I slide the plastic every chance I get.
  4. okay, the hsbc sheet says bk must be discharged in the past two years. I am past two years. Does that mean they will not do a loan for me or that I get into the better rates? If I get the better rates how do know what scores qualify your for wich bracket?
  5. I could not find the old app like I filled out last time (probably right in front of me). My and DW scores range from low 600s to 650 bk7 discharged june 04 4663 monthly income 613 mortgage payment 465 1st car payment 45 cc payment I want to get a 02 nissan sentra type r for 10000 With my comute to work it will almost pay for itself in gas savings compared to my old beater What kind of rate should I expect?
  6. Closing on the 10th. Thanks to all the helpful people on all of these boards.
  7. It needs work, that is the main reason we wanted to go 100%. We were able to keep the cash we had been saving to do some of the work, and some will have to be done as finances permit. It is not what we wanted but it is what we could afford. Regardless, it is almost MINE. It feels pretty good to say that. If I would have found these boards sooner, I could have said that sooner. I love this place.
  8. I don't know how to look. I used this broker because she has a good reputation. I was just wondering if this sounded like a decent deal for someone with my credit. After the apraisel, I am sure the purchase price is a good deal. I guess it doesn't really matter; the deal is almost done, and then, all I have to do is live with it.
  9. It was starting to look like we were not going to close on closing date. My wife called our mortgage broker and was asking her some questions. She mentioned that she had recieved a job offer and was considering accepting it. The mortgage broker said not to that right now, and she would get on the phone and take care of things. We would have made closing, but my employer would not validate employment the day before closing. It is okay now, but it pushed closing back to Monday. Hopefully, Monday I will be a homeowner. I don't know how well that would work with a LO. After reading these boards, I decided I wanted a mortgage broker.
  10. We are closing on our house Monday. Mid score is 640 discharged bk june 04 The listing price on the house was 99,900. We negotiated 90000 with 5000 built in for closing cost. The house appraised for 109,000. Our intrest rate is 7.25 on a 30 year, 100% loan. We will be getting about 800 back at closing. I thought we did pretty good, but I am starting to wonder if we could have done better.
  11. Being impatient and making bad decisions is part of what led to the bk. We've waited this long so we can wait a little longer. When can we realisticly expect to be in our own house, July, August? How long does the process usually take for FHA? There are several houses around here that would be in our budget, so I don't think finding a house will be a problem. The worst part about the wait is that intrest keeps rising the longer we wait. I am starting to wonder now if I should have went sub-prime one day out of bk. The house itself would have been a lot cheeper too.
  12. We filed bk7 mar 04; it was discharged june 04. When should we talk to a broker to do an FHA loan. I know it has to be two years post discharge, but can we get approved before then, and then close after june 8? I want to get a house as soon as possible. I also changed jobs last year, I am still a welder which I have been for the past seven years. DW has had the same job for 9 years. Our mid score was 640 two months ago. Bill tia Billy
  13. I read somewhere that if you withdraw after five years the first 10K will be tax free for home purchase. Does the five years start from the date the account was opened or the last date you added to it?
  14. It won't be a baddie on your CR until it is 30 days late. They may, however, charge you a late fee or a default rate for being one day late. If all your worried about is a 30 day late on your report, I don't think you have anything to worry about.
  15. Surely, with 2.5 years of perfect payment history I will have a whole lot better score. The cards we have are Orchard w/300 limit, and we pay them off in full. The auto loan is for 20k, and it will be paid off. I am trying to come up with a plan to put me in the best position possible. If I need more TLs I will get them. Not sure How/When to go after a "major" one though. To me a 20k auto loan paid off in 2 years is pretty major. Of course I am not a mortgage broker. And, the only thing I know about a mortgage is I'm gonna need one to have the house I want someday. That is why I am on this board. I know that I have a long way to go, and -- relatively speaking -- a short time to get there. What do the lenders want to see after a bk to prove to them that the borrower has learned their lesson? Whatever they want to see is what I need to get on my report. Thanks
  16. Well, I spent $30 and changed all the bulbs we use the most. These things are BRIGHT I think the 60w cf is as bright as the 100w incadesent was. Its worth the $30 for the extra brightness.
  17. the fakos are around 600; however, my auto enhanced equifax was 501 and dw was 560. I am waiting until the auto loan and cc are reporting until i pull myficos.
  18. I want to build a house in june 07 Joint bk7 discharged june 04. We have 1 credit card each, and a joint auto loan. I plan to pay the auto loan off in 2 years. VOR will not be a problem. I will be 3 years post discharge. Do I need to get more revolving TLs between now and then? Is it harder to get construction loans? I think I will be able to pay cash for the land between now and then. Empty lots around here are pretty cheap. I have no idea what my scores will be like then. I am starting the dispute phase of credit repair; hopefully, I can have my CR looking a lot better by then. What else should I do between now and then? TIA
  19. I don't know if they can. When I bought my last vehicle I got 6 hards. 1 from the dealership 5 from diffrent lenders.
  20. Me and DW are blind as a bat, can you still see as good with them?
  21. The best coupons I've found is for cigarettes, and I don't have to buy a paper to get them. It's nice to know it cost less to kill myself. Someday, I'll gather up some will power and quit these damn things.
  22. Im curious, how did they get passed the debt to income issue to get the loan?
  23. I dont have time for TV all my free time is on this board

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