What the hell is going on here? (inquiry weirdness)

[548ficoNtexas]

I'm sure the whole Texas court system knows me and Ashlia by name, face etc. we have filed more lawsuits than the law allowed. It helped that we were within 15 minutes of each other and her fiancée/now hubby is an attorney. We banked some good checks and clean credit reports.

[ubercat]

Should I bring all my shoes and glasses?

[tweak]

Should I bring all my shoes and glasses?

So that I will have them.

[ManofB]

Sometimes on CB you find a post that truly makes you believe 2+2= - 6.96112

 

For a second, today. I evaluated what I could do with a whole block of houses in Detroit. Did I google how does someone charge crack dealers rent? Maybe, maybe not.

Edited December 5, 2014 by ManofB

[ubercat]

I was wondering how much reclaimed brick goes for these days...

 

 

Should I bring all my shoes and glasses?

So that I will have them.

 

 

Edited December 5, 2014 by ubercat

[jgodfrey82]

Good read... was this a test of the emergency credit insanity system? Punked CB ed?

 

Serious issues going on there.. Op should also sue myfico for the alleged highway robbery...

[loderunner]

You're awfully glib.

 

Yup. Defense mechanism. It's been a long year. I understand this might cause people to take me and my statements a lot less seriously than they might otherwise, but it can't be helped.

 

However... today is a good day. A very good day. I may be able to reveal more details later. Much later.

 

I will say, entirely without any shadow of malice or hurt feelings (I slept beautifully and did I mention I am having the most wonderful day?), that a few people in this thread should--for their own benefit--work on their reading comprehension, their zillow- and realtor.com-searching abilities[1], their financial acumen[2], and/or their attitudes towards companies that give you a tremendous amount of grief through either sheer incompetence or telling lies.

 

But, I'm not complaining--after the events of yesterday afternoon and evening, I'm pretty sure this is going to work out fantastically for us. I just want to, if i can, spread a little of the joy and freedom that comes from not being a lapdog consumer and from not accepting nonsensical conventional wisdom.

 

Thanks to everyone who gave advice, and particularly to the people who urged me to get the myfico[3] scores as soon as possible.

 

Will do an update in a few months, unless an NDA compels me not to, in which case maybe I'll just tell the very nice admin I've been chatting with and he could assure you--if you cared--that I'm not a raving lunatic.

 

 

 

 

1. As I've said, there have been 6 or 7 houses that meet the description and price I've described. This is over about 5 months of looking. (Q: "Why five months? Didn't you say you've only been trying to get preapproval for the last two months?" A: "Ok fine, let me start at the beginning. It was a difficult labor. In fact, my mom had to have an emergency C-section...") Also as I said, they have significant issues but they are livable and largely move-in ready--you just need to know enough to tell a house that has serious cosmetic problems from a house that has serious structural or mold problems. These houses I mention have always sold within 3 days of falling into that price range. So yes, the average $25k house around here will be a horrible mobile home. And the average dowdy-looking concrete block house at the edge of a seedy part of town will (at least at first) be listed for $45k-$70k. News flash: savvy buyers who have time and patience and quick reflexes are able to nab deals. I didn't think this would be akin to me claiming to have seen a jackalope. I acknowledged that I'm not yet positive that a bank would be willing to finance the purchase of these houses--they might only do so only with a 203(k), in which case it's no longer a $25,000 house.

 

I'm taking the time to explain all of this not because I care about winning an argument, but because there may be other struggling people like me who do not yet realize how much money they can save if they have enough time and energy. If living near the crackhead part of town (usually I only look at houses near the edge, not the ones deep inside. Those are cheap too, but not significantly cheaper) doesn't appeal to you, there are plenty of bargains to be had at the $50k, $75k, or $200k price points as well.

 

2. Yes, because obviously the fact that I am not in a great position financially means it makes much more sense to pay over 2x on rent, even if I do qualify for a mortgage. We're just obviously "not ready" to save many hundreds of dollars per month. Gee, maybe you could also let me know if I'm finally ready to stay up past 9pm on a school night? Seriously, is there no limit to the amount of nonthinking 'conventional wisdom' codswallop you will swallow and regurgitate on cue? So... poor people should be discouraged from trying to drastically cut their monthly costs not because they can't qualify for a mortgage, but simply because they are poor. Brilliant.

 

And yes, I have included the cost of homeowner's insurance and property tax in my calculations. And if you aren't afraid to do some legwork, you will find that it's actually surprisingly cheap to get your hot water heater, air conditioning, etc. covered under your homeowner's insurance.

 

3. As someone who doesn't have a lot of money, yes I felt the need to grumble in the passing about giving $60 to an organization that makes its living primarily by helping financial institutions screw over poor people, for a service that cost them maybe $0.00001 in electricity and bandwidth. I never said anything about suing myfico.com, because I'm pretty sure they're legally allowed to be odious, rent-seeking, libeling-by-algorithm parasites. If you want to give them your $60 and then rush to the nearest open window and sing Oh What a Beautiful Morning, that's your prerogative.

Edited December 5, 2014 by loderunner

[cv91915]

Happy Friday, everyone.

[BobWang]

[mendelssohn]

[BobWang]

[loderunner]

Hey, if I do nothing but entertain you guys I'm happy with that.

 

But there lessons to be learned here, if anyone out there is in a remotely similar situation.

[andydallas]

Ok, now you wanted to sue the CU at one point,,then you say you have programs available to pay your downpayment,,it all seems to fit together,,,

 

Do you think the world owes you?

 

First because of the new laws, it is virtually impossible to get a conforming mortgage for less than $50k,,the expenses will be too high a percentage of the loan, the government ut that into effect to save 'us' from being taken advantage of by the big bad banks,,so now you can't get a conforming mortgage on a cheap house.

 

Have you ever owned a house? I own 6 (i own some rentals),,if you think the principal and interest charges are the main cost of owning a home, you need to do more research,,,I have spent more than that rehabbing a house,,and monthly you have insurance and property taxes.

 

Let's say you could find a conforming mortgage that went to $25k, chances are the house is not in good enough shape that it would qualify for a mortgage,,the house has to be in decent shape or it won't qualify for a mortgage (investors buy those houses for cash, fix them up then get a mortgage).

 

I wish you best of luck, but this thread has turned to be less about credit,,,,I can't believe it is still going on (or that I'm responding)

[BobWang]

[loderunner]

 

 

Do you think the world owes you?

 

 

 

For some reason, this phrase seems to only pop up whenever someone thinks I owe them (or a corp) something. In this case, you seem to think I owe them two months of my time, a few hundred hours of lost sleep, a few hundred dollars in wasted rent, several nice houses (no, I am not referring to the ones in the $25k range) that are now off the market and yes even $60 unnecessarily spent on myfico.com. Most of all, you implicitly assert our society owes them, as a collective, continuing recognition as a legal person entitled to do business here and make fat profits for themselves in a manner that is impossible for non-incorporated individuals, without facing any of the same sort legal consequences that individuals are exposed to every day.

 

You also implicitly assert that I don't deserve any assistance whatsoever, but do not mention the multimillionaires who took our tax money in 2008. You probably wouldn't guess it from these posts but I actually lean fairly hard in a libertarian direction--I just happen to think that reform must begin by cutting off all forms of welfare for the rich, and I have a very low opinion of people who think that it should begin by starving the poor. It's not hypocritical to be for a gun ban but in the meantime owning a gun yourself for protection (just an example--I am strongly pro-second amendment), and it's not hypocritical to be against welfare and advocate its abolition without, in the meantime, using it myself.

 

 

I can't believe I'm still replying as well. Just giddy, I suppose. I've already said I can afford up to the $75k range. But FYI, debating how mortgages work on low end houses wasn't the point of this thread, nor was dissecting every last facet of my personal finances. I have, in fact, discussed all of this with certified professionals. If the realtor I've been working with did not believe I was capable of obtaining a mortgage on these $40k-$50k houses, she would NOT be wasting her time showing them to me because she knows I don't have that kind of cash. I brought up $25k houses to illustrate what was possible at the bottom end. It's something I was seriously thinking about, not the sole option I was counting on, and if you care enough to go back and check (I don't), I'm pretty sure I said so right away.

Edited December 5, 2014 by loderunner

[BobWang]

certified or certifiable?

[andydallas]

Most realtors know next to nothing about mortgages,,again, I speak with much experience. Some 'mortgage' people at banks and credit unions don't really know that much.

 

If you don't like the service your getting somewhere, then immediately go somewhere else.

 

I suggest you call a mortgage broker, let them run your credit and see what you qualify for,,but please, don't tell them the CU screwed you and you might sue, etc etc,,they will see your just a problem and want nothing to do with you

[cv91915]

certified or certifiable?

 

Unhinged or periphrastic?

[loderunner]

If you don't like the service your getting somewhere, then immediately go somewhere else.

 

 

 

 

 

 

If someone tells me my credit scores are in the toilet, my first reaction is not to rush out and try it at another bank. My reaction is to try to check my credit report, which Experian and Equifax made very difficult to do. I had no reason to suspect there was any point in doing a myfico check right away. I assumed there was some unknown black mark on my credit reports, and that assumption--which turned out to be based on something not true--cost me dearly.

 

Stuff like this happens all the time and your average corporation will sue the chocolate out of you, individual or corporation, rich or poor, if they are on the receiving end of it. It's not even about lawsuits per se. You think you can collect on a life insurance policy if someone made a minor screwup on a form and the policy is still within the contestability period? Think again.

 

Anyway, thanks for the input but I didn't say I was suing anyone necessarily. I said this was going to end very well for me, but at this time it doesn't appear prudent to post the details here. It's a slow day; I'm just killing time and maybe offering a nugget or two of wisdom to counter some of the nonsense here.

[cv91915]

 

If you don't like the service your getting somewhere, then immediately go somewhere else.

 

 

 

 

 

 

If someone tells me my credit scores are in the toilet, my first reaction is not to rush out and try it at another bank. My reaction is to try to check my credit report, which Experian and Equifax made very difficult to do. I had no reason to suspect there was any point in doing a myfico check right away. I assumed there was some unknown black mark on my credit reports, and that assumption--which turned out to be based on something not true--cost me dearly.

 

Stuff like this happens all the time and your average corporation will sue the chocolate out of you, individual or corporation, rich or poor, if they are on the receiving end of it. It's not even about lawsuits per se. You think you can collect on a life insurance policy if someone made a minor screwup on a form and the policy is still within the contestability period? Think again.

 

Anyway, thanks for the input but I didn't say I was suing anyone necessarily. I said this was going to end very well for me, but at this time it doesn't appear prudent to post the details here. It's a slow day; I'm just killing time and maybe offering a nugget or two of wisdom to counter some of the nonsense here.

 

 

I haven't seen the latter yet.

[loderunner]

 

 

 

certified or certifiable?

 

Unhinged or periphrastic?

 

 

English major. My apologies.

Edited December 5, 2014 by loderunner

[mendelssohn]

[BobWang]

[loderunner]

My potatoes are fine. I would say sometimes you need to read something longer than whatever the Twitter character cap is these days, even if it hurts your brain. Otherwise you just look like a fool asking the same questions over and over and misunderstanding very straightforward side-plot statements as being the center of the universe.

I look like a fool because I talk too much. That, I am fine with.

 

I haven't seen the latter yet.

 

 

I know dear, I know. Bless your heart. Keep trying.

[ubercat]