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morrow last won the day on September 18 2008

morrow had the most liked content!

About morrow

  • Birthday 01/11/1978


  • Interests
    Kids, family and work...thats my life story..lol
  • Occupation
    911 dispatcher

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  • Location
    Mt. Vernon, WA

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500 posts and hasn't been banned yet....

500 posts and hasn't been banned yet.... (6/6)



  1. Yes, they can and yes they may just do it. Try sending them a Goodwill letter. Worst they will say is no, right? Definitly worth a shot. ETA: here is a link for a sample GW letter. http://www.creditinfocenter.com/forms/sampleletter8.shtml
  2. Very well. I find this really unfortunate and Im sorry you had such a horrible experience.
  3. To add to that...banks have fees too. Whether you are paying 1% orgination to a broker or a bank is neither here nor there, your still paying it. Nobody works for free. Judging from this response and your initial response about brokers and loan officers being "stiffs", greedy and are only out to take advantage of people...it sounds as though you may have had a very unpleasant experience with them, which is why you've chosen to take matters into your own hands by "Googling" information. The fact of the matter is, not all brokers/loan officers are terrible. So its a little unfair to clasify us as a whole.
  4. Congratulations on taking the first step. As far as an offer...I would speak to your agent and ask them what they think is fair. They may be familiar with the market in that area too. Also, take into consideration factors such as how long the property has been on the market. If its been on there for a while, they may either have it priced too high or ?? That would put the ball more in your court and it would be a buying tool in my opinion. You would want to be fair with your offer, yet not low ball them so much they get offended. If it were me? I wouldnt hesitate to offer around $250k They will likely counter though so don't get your hopes up. At least this is a starting point. Keep us posted!!
  5. Your a FEMALE???? I feel soooo dumb!! This whole time I kept seeing the name "Chester" and always just assumed you were a guy. I need to pay more attention. My sincerest apologies.
  6. Ive had success with my BOA Visa Signature, not recently but in the past (12-24 months). Citi has always been really good to me too when I request one. Penfed 2.9% carrying a $4200 balance (this was a BT for the LIFE of the balance!!) Patelco 10.9% carrying a $4800 balance BOA 12.9% carrying a $1800 balance Citi 14.9% carrying a $1000 balance Old Navy Visa ?? carrying a $400 balance All my other cards I dont use regularly.
  7. Dang...I could have bought 3 houses with my tax return. Maybe I should send you some money so you can buy/sell houses for me too.
  8. I think that if you have an existing relationship with a CU and you are working with a "vanilla" type loan, this could be great. Should your loan require more work and thinking outside the box, a broker is the way to go. Reason being is that credit unions and banks have their guidelines and if you dont fit into those guidelines your basically out of luck. Whereas a broker, they have several different lenders to work with and usually have knowledge as to which ones specialize in what programs, so essentially when one lender turns down a file you have the ability to send it to another. Just my thoughts.
  9. Well yes and no. It depends on the county. Which after looking at PA, it appears most FHA limits are around $271,050 with the highest being $420k May not be an option after all. Thanks for pointing that out Denita.
  10. Have you looked into FHA? Reason being is that you will not have the hit for scores below 740, infact there are actually lenders that will give you a points for having above 700 or 720. The only crux is that you have to pay MI with an FHA loan, but you were going to have to anyway with the conventional. Rates got dramatically better today too!!! Par rate for an FHA 30 year fixed is more around 5% I would shop around and inquire about FHA. The other thing to consider is, how good or bad shape is the home you are looking at? If the repairs are significant (bad wiring, plumbing, missing walls/floors, major defects) it likely will not pass FHA inspection. If its minor cosmetic issues you should be fine.
  11. In addition, with regards to financing, be sure to ask family or friends who they used or have experience with. Sometimes that is the best place to start. I would suggest securing the financing first, before looking at properties. That way you know for sure that your financing is secure and it may give you a leg up when negotiating since you are already pre-approved. Don't feel obligated to go with the first lender you talk to, its your right to shop around and find the best rate and terms that suit your needs. No matter what the lender tries to tell you, they can give you a good faith estimate and truth in lending disclosure without pulling credit. Use these as your shopping tools to compare costs. By all means, if a lender EVER asks for fees upfront such as an application fee...RUN!! Best of luck, and please post any other questions you may have.
  12. They may not settle, but they will allow you to surrender the vehicle, sell it at auction and then set up a payment plan without negatively affecting your credit: If you surrendered the vehicle, we could definitely look at setting up a repayment plan on the remaining balance. We would likely reamortize the remaining balance to payoff in the remaining term on your existing loan (60 months). This would lower your monthly payment. The sales process takes roughly 2 to 3 weeks to sell the vehicle. You would be liable for your standard payment on the loan until the vehicle is sold and we can recalculate the payments. If you keep the loan current, nothing negative will report to the credit bureaus. VERY INTERESTING!!!!! I wonder if this is because they are a small, local credit union.
  13. With regards to them "making" you provide the vehicle, from my understanding they cannot enter your home and/or garage, even if a sheriff is present. Speaking from personal experience, years ago we had a 4 wheeler that we got behind on and the repo man came knocking. He gave me greif, asked where it was and insisted I was hiding it in my garage (which it was not). He left and later returned with local police, again demanding I opened the garage. I told him, "no" and the officer just stood by and watched. I think it was more of a scare tactic than anything else. They left and I never heard anything after that to this day. Luckily that was financed through Honda, and Honda (at least they were several years ago) is notorious for coming off credit reports with ease. Hope all goes well.
  14. Per my lender: Unfortunately, it will be unlikely that we will accept a settlement on the vehicle loan as we would be taking a loss. The only time we take settlements on loans are in rare bankruptcy situations. We are a member-owned credit union and losses directly effect all of our members. If you choose to surrender your vehicle, you can still keep your credit intact by continuing to pay on any deficiency balance left after the sale of the vehicle. Please let me know if you have any questions regarding the information that I have provided you. I assure you that I will do as much as I can to help. There may be other options for you. I will let you know once I have reviewed your account. I will let you know what happens.
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