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rxis

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  1. Hey guys! Very late update: A. My parents qualified for a loan modification through Obama's program in Fall of 2017. I've been paying $1500 a month so they can keep the family home where we can all congregate over the holidays, etc. B. I'm sending about $2200-2600 a month to the mother of my 2 teenagers. I'm still going to court rather frequently due to financial disputes and court degree amendments. C. Filed bankruptcy and let go of my own house. Finalized in August 2018. Moved to Cali to generate the necessary cash flow and to rebuild.
  2. My parents, who are living on social security and on my income, have a mortgage in my mother's name. Estimated Credit Karma score ~680. Social security income $1400. Debt payments $400. House is valued at approximately $315k and the existing loan is $115k at 6.25%. The total payment is $3k monthly with 5 years remaining. I have high income with extremely low credit scores. I'm currently attempting to settle on debts that I reneged on post-divorce 2 years ago. It will take a long time to scrap up the funds. I'm also considering renegotiating child support agreements in court as I'm somehow ending up paying $1600-3000 monthly for 2 children. Credit Karma score estimates are ~470. ~$120k annual income by working 60 hours a week. What are my options for refinancing my parents home to make it more affordable? I'm seeing loan refinancing by utilizing existing equity as the only option. The mortgage is with Ditech (previously Bank of America which was previously Countrywide lol). I'm not impressed with Ditech, but seeing how the loan is currently financed through them, I may have to speak to their loan specialist for a smoother transaction.
  3. The closing fee is 5%! That is not what I was told. I thought it was strange so I'm not surprised the fee is 5%. The loan has been approved.
  4. Closing fee is 1%. I am awaiting for Prosper to for final approval from the manager. I had to explain my income trend, source of income, and the method of my calculation of my stated income. I also had to provide the standard W2s and 2013 tax documents.
  5. I must include that the Prosper loan charged a 4% or 5% closing fee. I have inputed the data again through another calculator provided by bankrate.com. This time I'm showing a savings of $3600 in finance costs which includes the interest saved minus the closing cost of $750. I accepted the offer. Prosper claimed no documents were needed but I highly doubt that. I'm waiting for the W2 request.
  6. Loan Amount $15,000 APR 15.85% Interest Rate 12.24% Monthly Payment $499.94 (36 Payments) I received an offer from Prosper that I will likely reject. Although this offer seems enticing relative to the current high interest CC rates that I possess, the finance costs remain approximately the same if I pay the CC company $500 a month for 3 years. Of course, I am also aware of the additional cost savings possible from additional payments. Does it seem to appear that I included the necessary variables in my analysis? Your responses are welcome.
  7. I do not have any lates. I have payments that were submitted 1 or 2 days late due to online billpay mistakes and my Citybank interest rates skyrocketed to 29.99%. Discover, American Express, 2 Citibank, Chase, and Bank of America. I may have a Gap retail account still open. Why do you ask?
  8. I have managed to pay down $10k of the principal CC balance this year. Payments have been distributed with the goal of obtaining 75% utilization rate across all CCs. The target has been met and new goal have yet to be determined. I am debating whether to reduce the highest interest accruing debt or to achieve a 65% utilization rate. On somewhat of an irrelevant note, I don't know if I have the mental and physical strength to continue paying down the original debt so rapidly. I accrued high interest debt in efforts to pursue a dream. Now I dream of the day I will be released from the shackles of debtor's prison.
  9. I apologize for hastily submitting a post. Thank you for pointing out the old scores in my signature. They were my FICO scores. Please allow me to elaborate on my financial status. The purpose of the new deal is to consolidate debt at a lower APR to deter the reversion of progress gained this year. I simply do not have the ability to maintain additional balance reducing payments. I have not been granted approval for balance transfer deals. Therefore, I am pursuing a loan from a bank/CU. As you can see from my profile below, I am locked into absurdly high interest rates which is the reason there is such difficulty in reducing the principal balance. These are the details of my credit report: 6/21/14 FICO scores: Equifax 655, Transunion 656, Experian 638. Lower score with Experian is due to an incorrect student loan balance. + Excellent payment history - too many revolving accounts with high utilization - high revolving account utilization - insufficient information about mortgage accounts 21,5k across 7 credit cards, Avg APR ~ 23.9% 53k student loans: private and consolidated loan 23k personal loans: 11k @ 16% APR with 21 payments and 12k@19.7% APR with 32 payments. Front loaded interest is mostly paid and the remaining balance is mostly principle. Total minimum payments $2,300. There are a few items that are unaccounted for and will not be present in my credit report. * $1,500 mortgage + $300 utilities. Spouse is the owner of my family's dwelling. *Auto payment: $550@5% APR $9,5k balance. Spouse is the owner. This is a summary of my monthly income/expense. Estimated Annual Income: 100k gross, 70k net. Monthly Income/Expense + 5800 month - 1800 housing - 800 auto loan and insurance (250 for 2 cars) -350 health insurance (Myself and 2 children) - 2600 minimum payments = $250 Left for other expenses.
  10. I would like to quality for a better rate than the current 15-16% APR loans I have been offered. The purpose of the loan will be to pay off my credit cards at a lower APR. Is it possible to receive a more favorable loan by having the lender pay the credit cards directly and calculating my credit lending worthiness for the loan with the adjusted debt in mind?
  11. I'm thinking about canceling the loan and starting a smaller one, but I don't know if this will result in another hard inquiry. Prosper just now rejected me due to Experian score of 636.
  12. TU score is 697. I just saw it on LendingClub documents. I received an invitation for up to #35k. My credit score is 679 according to the CU I tried to apply for a personal loan at. I'm listed right now on some bad terms but I have a lot of revolving debt and student loan debt. On the plus side, I have no baddies and now have good income as a new worker out of undergrad. The CU wouldn't tell me anything other than that I can get a loan of at least $10k by securing my car and possibly $20k with a cosigner and/or car as collateral. So I tried LendingClub. Hold onto your seats! I'm about to shock you guys. I just posted and I am unfunded. $10k guarantee of $19,200, $980 origination fee, 17.27% int!, 5 years, $480 payment $980 is what I would have to pay in balance transfer anyway so it doesn't hurt as much as it ought to. Can I post member loan number here?
  13. I received an invitation for up to #35k. My credit score is 679 according to the CU I tried to apply for a personal loan at. I'm listed right now on some bad terms but I have a lot of revolving debt and student loan debt. On the plus side, I have no baddies and now have good income as a new worker out of undergrad. The CU wouldn't tell me anything other than that I can get a loan of at least $10k by securing my car and possibly $20k with a cosigner and/or car as collateral. So I tried LendingClub. Hold onto your seats! I'm about to shock you guys. I just posted and I am unfunded. $10k guarantee of $19,200, $980 origination fee, 17.27% int!, 5 years, $480 payment $980 is what I would have to pay in balance transfer anyway so it doesn't hurt as much as it ought to. Can I post member loan number here?
  14. Hello! Its been awhile since I've been here. My household consists of 4 working adults and children. We are considering a new home purchase with the mortgage in 3 or 4 names: my spouse, my parent(s), and myself. We have had this living arrangement for the past 10 years and the informal/casual division of expenses has not been a problem. We have a long history of "what is mine, is yours" family culture. I understand there are legalities that will arise from separation or divorce. My parents interest in the property will go to the remaining parties upon their death. What are some of the other pitfalls that I may experience?

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