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borntolag

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  1. Has anyone actually received a Chase card yet? I haven't been following the conversion too closely. In all the mailing I got, they said I would not get a new Chase card until my current ones with WaMu expired... In the past couple weeks I received my new WAMU Platinum visa cards, not chase. So i don't know if now I'll wait until these expire to get chase cards.
  2. Which US Bank card did you apply for?
  3. I recently found out that my wife's sister and husband are facing foreclosure. Appears that they hadn't been making payments since March, 07. Brother-in-Law has been unemployed for about a year. He has a history of depression in his family and is currently depressed and this was the factor that lost him his last job. Company was willing to help him provided he go to a Dr, but at the time he didn't and they let him go. Initial foreclosure paperwork was filed in August, 07. This isn't the first time this has happened. First Time he went into foreclosure he was able to turn it around in time to save the house. My sister-in-law suffers from MS and has some disability income, but not a lot. This time, I'm not so sure. They have a couple months before an auction. The loan is about $168k and i know at the least their is a federal tax lien against the property. Comp's in this area are in the High 350-425range. (he bought this in the early 90's). It is in a prime area of the Northwest suburbs of Chicago. (So on one hand, you might think they could sell it, but this house is in need of some work). They don't think they can sell this place before the auction. We finally got him to realize he couldn't do nothing and is currently contacting the bank to see what they can do. But unless he gets employed, no real income is going to come in the door. My first concern is that if they do lose the house, i don't know what it would bring in at an auction. One thought was for us to buy the house, get them some money so they can rent or get into a condo or something. But I would like to be able to put some money into the place so that it could be fixed up and get close to what the area would bring in. I don't know if we purchase the place if we could get the money out of a new loan to fix it up. I just dread the fact that this place has so much potential and it may be lost. There is a lot more info here, but what I am trying to find out is possibilities to help them out.
  4. This is a general note of thanks for all the best wishes and congrats. Creditboards has helped me a lot over the past few years.
  5. Congrats, and good luck with your move. I am doing the same thing the next couple of days.
  6. borntolag

    Closed House

    Well, I closed on my house this morning. In and out in under 45 minutes... Now the fun comes with moving everything in!
  7. From personal experience, under the right circumstances Taxes do go away. The IRS has 10 years from the date of assesment to collect on a tax debt. Only if the taxpayer signs something with the IRS to extend that can it be possible to still owe after 10 years. There are also clock stoppers that can extend it. Taxes can be discharged in bankruptcy as long as certain conditions exist. I only had experience with the laws prior to the new bankrupctcy rules. But as far as liens, the lien has to be refiled by the date listed on it or it is the certificate of release. If the taxes are over 10 years, barring any clock stoppers, it is done. Talk to a tax attorney. I've had taxes and my liens released and have confirmed through my tax attorney that I no longer owe for the years in question that were covered by a lien.
  8. Call the phone number... I did that when I got that message and they were able to help me get rid of the different variations of a few addresses. That said, they will not delete an address that is tied to a tradeline.
  9. Well, I never had a Charge-off with Sears, I did have several lates from 99 that have fallen off on all my reports. I did have a ch 7 discharged in 2004 which at the time I had a $0 balance on my Sears Card. They never closed the account on me. I used it on and off, always pif when I did use it. In the past month they have changed my card to a Sears Mastercard which is backed by Citi.
  10. Purchasing a place this month that was built in 1989 for $240k, State Fram quoted me $984/year. This included a discount for claim-free and we use them for auto insurance. Below is the quote i received: Coverages Limit Premium Monthly premium: $82.00 Dwelling: $205,000 $1083.00 Dwelling extension: $20,500 Replacement cost: $185,000 Personal property: $153,750 Rate IV factor: 111% Personal liability: $300,000 Construction: FRAME Medical payments: $1,000 Deductibles Policy: $1,000 $79.00 Territory zone: 32 Earthquake: Subzone: 11 Charges/Credits EQ Zone: 01 Home alert: N/A Sprinkler: N/A Utility rating plan: N/A Claim record rating: N/A Claim free discount: ($54.00) Home/Auto discount: ($154.00) Solid fuel appliance: N/A Municipal tax: N/A Impact resistive roof: N/A
  11. First off, I am not a lawyer and I strongly recommend you retain competent legal counsel. With that in mind, IMHO I would think that if all you have is Social Security Income that the judgement would not be collectable.
  12. This is more to vent I guess, but somehow the Appraiser thought their was a relationship between me and the seller. The Seller and I are co-workers and have no contact outside of a Work setting. Mortgage person sent me an email stating that the FHA Loan was at risk until I answered her question. Now the appraisal has to be re-done a third time so that this statement can be removed, first time they didn't include both parcel id's (2 lots), and now this. Everyone seems to think this will be ok, but will update me once the new appraisal is done next week.
  13. I am also closing on March 23.. Good Luck and make sure your writing hand is rested <g>
  14. First off, you did not specify what style of house you have. I would guess a split/bi-level or ranch. Rule #1: ANY part of the home that is BELOW GRADE will NOT be considered GLA or s.f. This means any finished area, including bathrooms, bedrooms or dens that are in the basement in which the exterior walls are under the earth or partially under the earth are not counted in the room count or living area. It should be mentioned in the report "finished basement" but will not be given the same s.f. value as above ground living area. For example: A typical bi-level has a living, dining, kitchen and 2br, 1 ba. In the basement you have another br and bath with a den and 1 car internal. The report shoud read 5/2/1 with a full finished basement and one car internal, not 8/3/2. He/she does NOT need your appraisal. Every insurance company has a company specific replacement cost estimator (ie RS Means, e2value) and they will take pictures of the home, making notes of construction, design, age and amenities then put that info in the program, giving an accurate RC of the home. He/she is either being nosey or lazy. Market value does not equal replacement cost. j Thanks. I think this comes down to not understanding what an appraisal is or how to read it. It is a Ranch Style home. The basement has outdoor access to a patio via a door. Since this was my first home purchase I wasn't aware that I had to give this to my Insurance Agent. I assumed that when my mortgage person stated that the Insurance people would need it that I had to give it to them. The basement was listed as below grade showing the total square footage and that 91% of it was finished.
  15. I am closing next month on a new home with FHA financing. My Apraisal was done the other day. The good news from a mortgage standpoint it that it came over the purchase price. In reviewing the report their is a section with a room count and it only shows 1 bathroom instead of the two that are there. It shows only 1225 sq ft above grade. The basement appears to have been overlooked. Their is a finished rec room, den and bathroom for about another 500+ sq feet. Also, there is a 2nd lot that was not included (mainly wooded for about .30 acres) The comp's the guy pulled were based on 1225 sq feet. Banker is saying that they are only concerned that it doesn't meet or exceed the purchase price. In this case 19,000$ over purchase price. I had an inspection that basically said the place was in good shape before the appraisal. We are using a facilitator to do the paper work since this place wasn't on the Market. (Purchasing from a coworker who is moving out of state). Facilitator agrees with the loan officer/underwriting that the appraisal meets or exceeds the purchase price. My only question is that I need to provide my Insurance Guy this appraisal for my Home Owners Insurance Policy. Shouldn't the appraisal need to show the other items to make sure that if I did have a fire, etc that they would know it has 2 bathrooms and 500+ sq ft more livable space? Thanks

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