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Everything posted by stacykat

  1. Hey everyone and Happy New Year! It's been a while since I've been here because, thanks to the help of many people here, my credit is fixed and I have been living happily in my own home for about 2 months now! I have a question for my brother and his girlfriend and that is what brings me back........ My brother has great credit and owns a home. He wants to get married but his girlfriend has a school loan and credit cards equalling about $10,000 that are all about 5 years since D.O.L.A. If he marries her can her creditors put liens on his home, garnish his wages or freeze his bank account? Does becoming her husband make him liable for her debts? We would greatly appreciate any help! Thanks!
  2. Ok, thanks so much! I was so nervous about this. The $4000 didn't make or break my down payment anyway, if I didn't have it I would still be ok. Hopefully they will take that into consideration also, after all, half of it was mine in the first place. I'll try to get the gift letter from SO's mom today just in case! Thanks!
  3. I'm so nervous because my lender just called because on my August bank statement it shows a $4000 deposit and they wanted an explanation. I told them the truth, that half was my money I had tucked away and the rest was from SO's mom as a gift towards the house. He said he will put it down as being a gift and send it off to the underwriter, if there is a problem then I have to have SO's mom sign a gift note or something, which would be no problem. Is this normally done in the mortgage loan process? Could this be detrimental to my loan application? I'm having an uneasy feeling now and any help would be greatly appreciated.
  4. We finally got things straightened out. A lien was put on everyone's house in the neighborhood for a water main improvement project. Most houses have well water and could tap into the city water if they would like. They are also installing fire hydrants. The seller agreed to pay half of the lien, by knocking that amount ($1500) off the price of the house. We will pay the lien off ($3000) at closing so it's satisfied. The realtor didn't disclose this because it would discourage people from looking at the property, which I can understand, but he should have disclosed it once we made the offer. We weren't too thrilled with having to pay that extra money at closing but this house is really great and there aren't many like this around so we decided to bite the bullet. I know this is probably a rare case but we felt like it was the best thing to do to ensure getting this house. Now we just have to hope the inspection and appraisal goes well. I didn't realize how stressful this would be lol!
  5. Thanks for the well-wishes everyone! We are under contract and are awaiting appraisal and inspection now, this is the scariest part for me because I reeeeaally want this house! Congrats on your refinance DC! This place is a treasure!
  6. This figures....the realtor called us an hour after we placed the offer to tell us they accepted, we were so excited because the place was more than we hoped for. We were awaiting the contract today when we heard the news of this lien. The sellers did not sign the contract to accept the offer we placed, very discouraging. We thought it was a go because our realtor told us so. So either they never signed the contract or they signed it, got cold feet and it was destroyed just before we were supposed to receive it. We will hear back first thing in the morning as to whether or not they will request more money. Is it usual for a realtor to tell someone the offer was accepted without having the actual contract in hand?
  7. We put an offer on a home last night, it was accepted. The home is being sold as is and we can back out of the deal if the inspection finds a problem or if it's not appraised high enough. Well, today the realtor called to tell us that they are putting city water on the street and that most of the houses, including the one we were hoping to buy, have $3000 liens on them to pay for the installation of the pipes and whatnot. Does this mean I cannot buy this home? Does the seller have to pay this lean off before they can sell? We were thinking about offering $1500 towards it but then again, they accepted our offer and did not tell us about the lean so in a way I think it would be unfair if we paid any money towards it. Any suggestions?
  8. We got preapproved last week and found a house yesterday! The sellers accepted our bid and we hopefully will close on Oct. 24th! I just had to thank everyone who helped me with my credit problems! If it hadn't been for this board I would never have been able to clean up my credit as much as I did and as quickly as I did! So to everyone who is in the process of fixing their credit, just keep on it and it will happen. Thanks again to everyone and I will still be stopping by because I'm addicted to this board!
  9. Congrats sis! I hope everything goes smoothly, you deserve it!
  10. How much time does a CA have to update a persons credit report from "unpaid" to "paid" after they receive payment. I don't recall ever seeing anything pertaining to this and was wondering if anyone knows. Thanks!
  11. Great tip! How 'bout if you have had a checking/savings account for 10 years with the bank you will be applying for a mortgage at, is it likely that they will give a rebate/reduction for that? SO and I were just wondering about this last night.
  12. SO has a collection that we are going to pay in full because it's for a small amount of money and he just doesn't want to fight it anymore. We have some collection notices from 1998 that the CA recenlty provided us with which state "balance: $105.58 plus 1.5% interest a month". However, on his CR the balance is reported as only $105.58, the interest has not been added on. The 2 collection notices we recently have received state "balance: 105.58" no mention anywhere of interest. Is it safe to assume that they cannot come after him for interest after he pays the balance since they have not requested it in the recent notices?
  13. All this time I was thinking how great it would be to get approved beforehad! I never even knew that was possible because I read some things for first time homebuyers and it was never even mentioned. Thanks so much for sharing this info!
  14. Did I read that correctly? I was not aware that you could get approved before you found a house. So do you even have to bother getting pre approved/qualified?
  15. Ok, thanx sis, will give 'em 15 days then. md...SO and I were going back and forth about not paying and waiting until Jan. for it to fall off. In fact last week we decided we would just wait but this week we weighed pros/cons of settling. The only con we came up with was giving the shiesty CA the satisfaction of collecting money. Even in the worst case, having to pay the full amount which is about $1000, we would come out ahead. We will be in a home about 4 months sooner, paying money towards our own home instead of our landlords home. In the end we'd actaully be saving money. Our rental situation is just getting worse and it would be a small price to pay for happiness! We'll see how it goes!
  16. Thanks cookie! But I just had a talk with the boss (SO), and looks like I'm going to have to settle lol. I've been going back and forth with this for a while and it's kind of nice not having to wonder which decision to make now lol.
  17. My SO wants me to settle and settle now! I prepared a letter that is an offer for .20 on the dollar for full settlement and full deletion since it's almost 7 years old. It's taken mostly from sis's letter except I omitted the bankruptcy parts. I also state that since the debt will fall of in Jan. this will be my final offer. I request that the CA sign the bottom of the letter if they accept and return a copy to me within 7 days. I was going to send it from because they print the article number and date on the letter, just for extra protection. I also requested that they delete within 3 days of receipt of payment. Since this debt is so old, the more time that goes by the less likely I will be to settle. Is this enough to prove full settlement of the debt if they do not follow through with their end of the deal? Am I being too pushy by only giving them 7 days? This is such a scary situation for me, any help would be appreciated!
  18. This is regarding my almost 7 year old collection. My plan was to wait for Equifax to verify or delete and then make a decision about what to do next. I disputed that the account is listed as "individual" when in fact it is "joint". I also notified the CA several months ago of this error, they did nothing about it. I have a copy of part of the lease which shows two other people besides myself on the account (all signatures included) and I also sent it to Equifax for proof, they obviously disreagarded it. Equifax verfied it as being correct. Now I'm at a fork in the road. My SO wants to settle, even though this will drop off in January and be in a house that much quicker. I was feeling the same way but now I want to fight. I'm thinking of filing complaints against the CA for reporting inaccurate info and providing partial validation along with a notice of collection (they only sent the last page of the lease, it did not state anything on this page about responsiblility for damages, it only said "see lease agreement". They did not send me lease agreement). Anyone have suggestions? Do I have a better shot at a deletion by settling or filing complaints?
  19. stacykat

    Time line....

    Thanks for the heads up! The appraiser tip was excellent, I never would have thought of that happening. 6-8 weeks would be a major setback! I will definitely address this issue with my RE on our first meeting and see what the norm is in our real estate market. Am I correct in thinking that the appraisal is done before the final approval of the loan? I'm really new at this!
  20. Just reading sis's post and want to know if I understand correctly. If a person pays a debt, either in full or settles for less, the date of last activity will change to current date? Did I get that right?