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Everything posted by SweetDreamer

  1. Thank you all for your suggestions. We talked with a mortgage broker that our Realtor friend suggested. This guy was able to help my husband by doing a rapid rescore which brought up his scores to around 629 (all three scores). The broker did charge a small fee and since I'm not working yet we decided to just pay for the one scoring help and just have DH on the loan with both of us on the title. I'll work on my own score over time and then be added at a later date to the mortgage. We picked out our home today, and are waiting for the reply from the owner as to whether or not they have accepted out offer. We were approved for an FHA loan, and a UHA loan. Our interest rate is under 6%, and our broker already has started the paper work for the various gift/grant programs to help with our closing cost and down (even though we already have that all set aside). Our payments, with all taxes and insurance, will be under $1300 for a beautiful 5 bedroom, 2 bath home. Thank you all again for the great advice and help!
  2. The only thing on my credit is the car repo from 2002, although they did report it twice under two variations of the company name. I was able to get one removed. I did have a late phone bill from when I moved in 2002. I had assumed that I had paid it completely, but there was still a small balance (under $70), that I wasn't aware of until I pulled my credit report a few months ago. Other than that my record is good. But, I don't have any credit cards, and lots of student loans that have not come due yet since I'm still in school full-time. My scores have jumped 10 points in the last 6 weeks, and I expect them to continue from here on out. My husband, however, took out several thousand dollars of small business loans and tried starting his own business while still working full-time with another company. His company filled bankruptcy and my husband had to work several temp jobs just to pay the necessities. Mean while his business bombed and he was left with over $26,000 in debt. That was in 2004. Today he has paid them all off, but, because of the many, many, many days late, his credit score is really bad. His one saving grace is his 2 credit cards that he has been current on payments, hasn't maxed out or gone over limit, and has had one of them for 10 years, the other for about 5. We are hoping that his good record with them is enough to start boosting his numbers, but so far there hasn't been a change. So, there is our credit history in a nut shell. With what my husband makes we could kind of afford 9%, but would have to settle on a smaller home. We would obviously like to have a smaller percentage rate and get a little bit bigger home (we have 4 kids with 1 on the way). I have thought of getting a credit card myself, but I understand that will initially lower my score, something I do not want to do. The other option, which we will begin next month, is pay on some of my student loans, even though they are not due yet.
  3. My husband and I just paid off our debt, with the exception of a repo that will fall of my history next year. Our scores are both in the low 600 (one of his is about 590). We want to purchase our first home, but according to what DH has read at work (He works for Fidelity Investments) that if our scores are under 650 to be prepared to not be approved for anything less than 8 and 9%. Is this true? Is there any way we can get a lower rate? We expected to probably get 7%, but anything more than that we will not be able to afford a home big enough for our family.
  4. Thanks...I search before I posted, but didn't even think to search for authorized users. Lots of great info came up with that topic!
  5. Hello! My husband and I just paid off the last of our debt, with the exception of a 6 year-old car loan (mine that I defaulted on after my company declared bankruptcy and my savings was only good enough for 4 months of payments). Anyway, our scores are in the low 600s now. My husband has 2 credit cards that he has never been late on, so we are guessing this will help improve his score in the upcoming months. I, on the other had, don't have any recent good credit, other than some student loans that I don't have to repay until after I graduate in December. I was thinking about getting my own credit card to help boast my credit score, but all the info I'm reading says that it would hurt my score first before helping it. I'm wondering if I became an authorized user on my husband's account if that would report favorably on my credit report right away, or would it also hurt first before improving? Now that our debt is paid we are hoping to finally be able to buy our first home, but we need better scores to secure a more favorable interest rate. Thanks a bunch!
  6. Okay, finally got DH to call the court (I'll only hold his hand for so long). Anyways, they said that there is a judgement for Barns to collect, but that it doesn't mean they actually own the debt. The court gave a bit of other information over the phone: 1st ~ Barns did not file anything that proves they own the debt, no payment history or anything. Just that table indicating what was owed and why. They DID submit the letter that DH had written requesting proof that they owed this debt, and their response letter asking DH for that proof (which the lady he spoke too thought was odd they would request that from him when the weight of proof is on them). 2nd ~ There is no proof of summons, although there were several statements from the attorney that said DH had been notified by mail. (in Utah you can be summoned/served by mail BUT it must be done by certified mail and signed by someone when delivered) 3rd ~ There is something the attorney filed about requesting a hearing where DH could physically be there to defend himself, but there is no proof that this was sent on to DH, thus the Default Judgement. We plan on going down next week and getting a copy of the whole file from the court. So, now what do we do? Do we still try and validate the debt? Do we continue to pay Barns (we received something from the Attorny that threatens to bring DH back to court for wage garnishment if the debt isn't paid soon)? Can we do this all on our own, or do we need to hire our own attorney? We are trying to buy our first home and this is the ONLY thing standing in our way. Thanks a bunch.
  7. My husband had a judgment against him last summer after several months of fighting with the attorney. In short, here is what happened (okay, not so short): The original creditor was CitiFinancial. The loan was made in April 2003 (before we were married) and his first default payment was Sept 2004 when his company started the procedures for Bankruptcy and laying people off. Anyways, I had paid a couple of money orders in Sept of 2005 to help him out a bit and to let the creditor know that he intended to pay on the loan once he was again in a financial position to do so. He received a letter in April of 2006 from an attorney stating that he was attempting to collect a debt for Barnes Financial. DH called the attorney who said Barnes had bought the debt from CitiFinancial and now he was collecting an their behalf. We never received anything from either CitiFinancial or Barnes saying the debt had been sold, so we asked the attorney for proof that Barnes was now the owner of this debt. Oh, the attorney stated that Barnes had bought the account in April of 2005, and yet CitiFinancial accepted those money orders in Sept 2005 for this debt. Anyways, we followed up with a written request to the attorney for verification of the debt. We also filed a copy of this request with the court since by this time the attorney had filed for a judgment. His verbal response was that his letter of collection was our proof. We then received from the attorney copies of the papers he submitted to the court requesting a “default judgment” against DH. In those papers it stated that the original loan was extended to my DH in April of 2005, and never mentions the original creditor. So, again DH called the attorney and followed up with a letter asking for proof of Barnes owning this debt. Instead, the attorney sends us a letter requesting a copy of the original contract with CitiFinancial and all statements and proof of payment...things we expected from Barnes as proof. They gave us 10 days before they would continue with the request for a default judgment. So, DH paid $50 hoping to avoid any further legal action, but the next thing we received from this attorney was a copy of the default judgment. Now I have a BUNCH of questions. Mean while DH has been paying $50 per month towards this debt, made out to Barnes and sent to the attorney. Firstly, IF this is legit, does the "default" date for credit bureau reporting now become April 2005? Secondly, since this later date, and the judgment occurred after we were married will this affect MY credit and be seen as a marital debt? And finally, the judgment papers don't look right. The original papers requesting the default judgment were not included. The only thing here is two pieces of papers. The first states, "Plaintiff's Motion for Summary Judgment having come before the court, the time for filing responsive documents having passed, and the court being advised in the premises, it is here by, ORDERED, ADJUDGED AND DECREED that the plaintiff have judgment as prayed for in the complain as follows: There is then a two column table with dollar amount on one side and what they represent on the right. For example, the first row had $X Principle. The final line had the TOTAL JUDGMENT. There is a line indicating a credit of $50 that DH had paid. (Can they continue with a judgment when payment, regardless of how small, is being made and they accept it?) (following this table is states) "with interest on the total judgment at 6.36% per annum as provided by law from the date of this judgment until paid, plus after accruing costs. On the second sheet it is dated. But what is odd to me is the "JUDGE OF THE COURT" line. It has "1st" written on the line and then "Dawson" under the line. I have dealt with the courts here before (nasty divorce) and I never saw a judge sign just his last name, and certainly not under the line. I though perhaps the 1 represented 1st District Court, but the stamps on front (this whole thing is a photo copy BTW) has two FILED date stamps (one crossed out) and then SECOND DISTRICT COURT on them. Also, there isn't a court notary stamp on this. So, if I haven't lost you in all this mess (and believe me I'm totally confuse by it), what do we do now? I don't know if legally a judgment can be filed and made this way. Thanks a million to anyone who can offer some advice.
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