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Hi all, I moved migrated to US in June 2014. Never lived/worked here before. I applied for secured credit cards with Capital one and Bank of America in July 2014. Both got rejected. They gave me reason round the lines of “profile or file does not exist” (Can’t remember the exact wordings though). Anyhow, I wanted to buy a car, so went into this dealer ship back in August 2014(they claim to be the largest in NYC). Told them I am looking to buy something round $20K in cash. They asked me if I was interested in financing the car. I told them that I don’t have any credit profile, for which they said they ll get the approval. This was my first experience to actually buy a car from dealer ship, and have never financed before. Without asking me they (the dealership) actually applied to all the finance companies they could find under the sun. Then came back with approval, which was $11500 down payment, round 15%Apr for 72 months. The car was (new kia sorento) round $30K+ some nyc tax 0.9% + services. Total was round $34K. The installment was 474$/month. For next month or so, I got bombarded with all those rejected credit applications. I think they sent my application to 14 companies in total. All had same reason i-e credit profile does not exists. With this background information, I got following questions Q1: Currently I owe round $21K. Now the question is, if I payoff half of debt, (round $10K), will that actually lower my payments to 474/2 = 237$ /month? I don’t want to pay off the entire loan as its being useful for my credit buildup (as I understand). I read somewhere on this forum that even if you pay off most of loan, it will go to interest rather than capital payment. If that is the case, I’d rather keep it as is than paying off in full or half. Q2: I was checking free credit reporting sites, and suddenly they have my profile with TransUnion score 655, and another site reporting 690(not sure which bureau they are reporting from). Can I go for refinancing based on this scoring, provided my profile is less than a year old, and already has 14 credit pulls? Any help will be appreciated. Thanks,Kj.

Wells Fargo started foreclosure proceedings in 2012, we were able to pay the late amount plus fees and the foreclosure was dismissed without prejudice in 6/2012. We went right back to regular payments and have never been late. My credit report shows that foreclosure started in 2012 and nothing else. It does reflect all of our payments since then but I'm not sure that it should even still be there.

Citizens Financial Group is offering refinance to those who have Federal Student Loans and a minimum of $10,000.00. Please visit the Wall Street Journal for more information: http://blogs.wsj.com/totalreturn/2014/09/16/student-loan-borrowers-have-chance-to-refinance-at-lower-rates/?mod=yahoo_hs Here is the link to Citizens Financial Group: https://www.citizensbank.com/ As I always do on here, make sure you fully understand the ramifications of converting federal student loans into private student loans! Just be aware that private student loans DO NOT offer the same consumer protections as private student loans so you must weigh the pros and cons before going this route! **This is for informational purposes only and I DO NOT endorse any company, products, or services***

Hello Everyone, I have not posted here in a while, and wanted to see if you can provide some input. Currently. 3.75% for an FHA 30 fixed with $290 a/month MIP remaining balance about $285k House worth about $350K Refinance estimations 4.125% APR on a conventional, NO MIP Refi Loan either for the balance, or with a $15k cashout will this be worth it? I have not applied yet, but my goal is to remove my MIP, and save those $290 a month on my monthly payment. and wondering is also getting the cashout is a good option.. please advise, thanks..

I have a 30 year ARM on my home. I want to refinance asap before interest rates go up, and I want to take advantage of jumbo rates while they're lower than conforming rates if possible. Obviously I need to move quickly to take advantage of current market situation. I will be installing a pool on my property, but am unsure when to do so. Contractors estimate that installation will take 2-3 months. I think I need to get the refi done sooner than that. How might the installation affect the property appraisal? Obviously having the installation complete would improve the LTV, but I don't feel great risking a change in the market for a relatively low increase in property value. If installation starts now and the appraisal happens mid-construction, will the torn up property lower the appraisal? Or might I be able to convince the appraiser to include the partial value of the pool in the appraisal?

Hello, I'm new to the site... I've picked up a lot of credit savvy reading these forums and using the creditpulls database. So I'll ask this, I get these postcards regarding refinancing my mortgage from EDITED TO REMOVE SOLICITATION which I guess are from Freedom Mortgage. This is the third one I've received this year and I see they are a real company but have mixed reviews and that is a stretch to say that. Anyone else get this "offer" and have current/past mortgages with them? I lost all of the equity in my house like most people and now underwater and seems like a rare option to refinance under current rates. But I know that all that glitters ain't gold either. Thanks.

I'm in need of some auto refinancing advice. I am extremely novice to auto refinancing, so please bear with me. I'm looking for ways to save a few dollars in our household and I realize that we are paying too much for our vehicle. At the time we purchased our car, our credit was a little challenged but it has changed dramatically within the past 3 years. We have a 2008 BMW 750i that we purchased for around $44k 3 years ago at 7.9%APR. We financed for 72 months, so we're half way through the term. The current principal is at $26k remaining and our payment is $782/mo. It's in excellent condition with only 60k miles on it. Is it possible to refinance our loan without extending the term and save by having a cheaper monthly payment?

hello first i want to say this forum and the information on it has been a great help in repairing my credit. i was able to obatain an NFCU rewards card with a 14,500 limit that i would have never known about if it were for you guys! thank you sooooo much! so now i am in the process of trying to refinance my HELOC on my home. it has a 105000 credit limit and a 95000 balance. my home was paid off before this and i had some repairs to make to it and paid off cars and remodeled my home a little bit. so my question is, how hard is it going to be to get this taken care of? my home is worth and appraises at 170-180k and i would need to refinance the 95000 so i can close that out and have a normal payment. i realize now after being on the forum and reading and educating myself that i never should have gotten one let alone thru the company i used. american general now springleaf because the interest rate is ridiculous and almost all of my payment goes to interest. i have a 914 dollar payment and almost 700 of it goes to interest. i pay extra as much as possible but its become a losing battle. its an 11 percent interest rate. now that i have repaired my credit i feel i should be able to obtain a refinance. my freecreditscore.com score says experian is 732 but i realize this is a fako or whatever they are called. any advice is welcomed and wanted. i just would like to lower that 900 dollar payment and have more of the payment go to the principle. what should my next steps be? thank you for your help!

I'm being offered HARP refinance on my 120K balance by my current bank. going from a 7.125 to 3.625 Rate, but the costs in the GFE is about 8K. are these costs typical or should I explore other lenders. Thanks

Awhile back, in September of '11, my father co-signed with me (actually, according to the loan terms, I co-signed him) so I could buy a truck. I financed about 10k at 15.99 on an 04 F150 that now has 119,000 miles on it. I've switched jobs in December of '11 to a higher-paying one, and I'd like to try and refi the truck to be entirely in my name. Is there any lender out there that would be willing to refi such an older/high mileage vehicle? If it helps any, the last time I checked KBB it was worth about $8k, I have a little over $7900 left of the principle, and I have made every payment on-time except the January one this year, which was 26 days late. Thanks!

my information: My credit score comes in at around 740. I have 5 credit cards that are open and in good standing. cards are 6 years old, 2 years, 1 year, and the other two are from the last few months. I also have a 7 month old car loan, all payments made on time. I make about 15k a year (part time employee and student). my question: I want to refinance my car loan, as i feel like i can get a better interest rate. The current rate i have is 6.14%. I tried refinancing through my current lender (PNC), i was denied because they said my income was too low (this didn't make sense to me as i was refinancing, not opening more credit). I know i should keep my oldest credit cards open. I'm wondering if closing a few of my more recent cards will help me get approved for refinancing. I did some prior research and i hear mixed things. Some people say to leave all cards in good standing open as your debt to open credit ratio shows how much control you have, but I'm wondering if my income vs open credit is hurting me more as it shows me as more of a debt risk.