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Everything posted by oompaloompa

  1. Figures, it was FHA. Whole different ball game. If what you say is true then you may have just done me a huge favor. I will definitely look into this.
  2. Second that. Call a BK attorney NOW. it will be the same scorewise as letting all of that fall into collections.
  3. And by the way, whatever you used to pull your score could be: A. not updated yet B. something other than FICO. So you might have just not seen the effect yet. Besides, every person you apply for credit with is going to pull your score differently and think differently about your credit report.
  4. I dont think they even effect your score at all unless you have a certain amount of them. I doubt its a magic number, probably it is adjusted to individuals credit history. OP: Inquiries are bad in large numbers. You deleting them will still help you by making you appear good when you apply for credit. If you have no inquiries, the you are not looking for credit or don't need it right? Which is a lower risk, hence a better chance of approval.
  5. Sweet progress man. I went from a thin file in December 06 (no credit information of any kind except for collections) and I had scores in about 4 months. My first scores were all in the low 500's, now I am a 650 something on EX, have over 6K available credit and I've only had credit for 10 months. Just goes to show what a bad model FICO is for risk representation sometimes MUHUHUWAHAHA
  6. It just means you sign up for TrueCredit or some other product that allows daily credit pulls. And pull, pull pull. (rinse/repeat)
  7. Holy...Crap. I disputed 6 three days ago and they are now GONE. I have to admit, I was very skeptical at first but DAMN. Now on to EX....
  8. He means a debt collector or someone else who will buy the debt. You could also simply wait for the court to award a garnishment on the person that the judgment is on. That will be a non-negotiable chunk out of their check every month. There are ways to duck that though.
  9. 48 hours and no change. i thought both EX and EQ had dropped all inquiries and then I realized I was looking at the public records line o_0
  10. You need to do a debt validation on Palisades RE that account. If they cannot provide something with your signature on it proving the account is yours(no brainer sounds like) then you dispute again with the Credit Bureaus and the item is toast.
  11. Another thing you can do is get an unsecured personal loan from a bank. Try and see if the people you have account with now will do it. See if they will accept your deposited money as collateral. Or, cosigin onto a loan with family, If you are a joint account holder, not just an AU, you still get points. Also make sure and fill out the FASFA. I dunno if you've already looked into it but subsidized stafford loans carry like 3% interest and are made regardless of credit.
  12. Either the creditor sent you the letter and it's Christmas time, just send the letter back to the CRA, or the CRA sent it because they dont want to talk to you. You wouldn't want to DV a CRA. that would be pointless. Validation is for the creditor or CA.
  13. Hey do you you know if it will be retroactive or not? IE will the payment history just stop or will they delete it altogether?
  14. Mind getting a few of mine off while you're at it?
  15. Find and speak to an FHA approved Broker immediately. FHA link for HUD approved brokers here:http://locator.fha.gov/cgi-bin/answers_hud_loc.cfg/php/loc/enduser/loc.php There is a program called FHA secure, that can allow you to refinance even if A. You owe up to 15% more than your home is worth, B. Your credit score is below 550 and C. You are up to 90 days late on your mortgage. It's the face of the gov'mnt bailout.
  16. Pretty much any company that solicits your business to "accelerate" your home loan, and is not affiliated with your lender, you can safely assume is a scam. Most of those companies will charge a fat fee and then tell you to esentially, make 26 bi monthly payments a year instead of 12 monthly. It is the extra money that you are paying that makes the difference. There are only three real options to pay off your loan faster: 1. refinancing into a loan with a shorter term like 20 or 15 years 2. paying more than the payment due 3. using a MMA or money merge account type loan (this would take pages to describe. if you want to learn about it, google it.) IMHO, paying extra is the best way. here are links for you to see the results of various amounts of extra payments. If you click back on it, there is a ton of other very useful mortgage calculators. http://www.dinkytown.net/java/MortgagePayoff.html http://www.dinkytown.net/java/ExistingBiweekly.html
  17. You would have to go back to the issuers of those mortgages ans see if they would be willing to report, in retroactive. This woul cost them money for starters, and for two, I dont know if what you're asking is even possible. Maybe someone esle with more experience can weigh in here, but I dont think it it will help your score. What it will help is obtaining new loans. You would want to get a payment history from all those loans you got and paid off. This history, though from a private party, will show your new lender that you are in fact credit worthy. A little roundabout but an option.
  18. My bad, I snapped a little... Yeah- they can cancel me if they want but mine are already gone. Besides, I wasn't pulling it every day like clockwork, mainly because I'd forget the exact time i'd last done it and would get frustrated going to the length of logging in, etc etc. Speaking of which, I've never paid for something and then got assaulted with A. so many frickin' steps and b.s. to use it as it's advertised and B. a huge amount of ads. I mean I'm hit with like 4-5 comeons to upgrade to Insurance Score, Mortgage Score, Auto Loan Score, etc. Then I'm hit with some dumb talking ad pitching some coupon thing, with the "no thank you" link dead, every solitary time I go to upgrade. Not to mention banner ads on 2 sides of the page pitching this that are "tailored to my credit needs". Thank you but, I think I can do better than first premier bank. And now, I'm supposed to be scared that they will raise my cost of service for no reason or cancel me because I use the account as advertised. Whatever. To the newcomers, at first update every 3 out of 4 days, It took 45 total updates for me. Put the brakes on down to 1 out of 3 days. Worked for me. You'll find that even doing repair, you only need to pull a few times a month.
  19. Standard conforming guidelines state that a payment must be calculated and used in DTI for deferred student loans, regardless of deferment period. Installment debt can only be excluded if there is less than 10 months remaining. Perhaps it was a subprime guideline you were thinking of? Example, I have a borrower who is halfway through law school and has racked up almost 80,000 in deferred student debt. Would it not be idiotic for a lender to ignore the affordability risk when the time comes that she has to start paying on it?
  20. I'd like to weigh in and say that is a smoking rate. FHA is an amazing loan product, as well as the CalFHA, MyCommunity and the various downpayment assistance programs I use. I have a tried and proven theory that the more time I spend finding and qualifying my client for esoteric loans and grants the more referrals i get. period. Now, one caveat. Bank of America and Citibank both offer an insane, government-subsidized loan called ACORN. I am a broker with a substantial amount of experience so believe me when I say it is the best thing going right now, rate-wise. It's only available in a retail branch and not to brokers though. It is seriously worth your time to check it out. http://acornhousing.org/TEXT/homebuying1.php Oh and their approach to "bad" credit is just like FHA, not so much an issue.
  21. Per conventional lending guidelines a down payment or in fact any money needed to close or declared as cash reserves must be 'sourced and seasoned'. The seasoned part of it, as other people are referring to, just means the time the money has been in the same account, or the length of time there is a paper trail for it. Sourced means where did it come from, was it gradual savings, a gift etc. As the other person mentioned, 60-90 days is the standard guideline. Your behavior in "saving" the money looks, on paper, exactly like anybody else saving money, you should be good there. Problem comes when 99% of lenders calculate and assign a payment for your student loans, if they are in deferment. A standard rule is your deferred loan balance at a 3% (sometimes as high as 6%) rate, on a 7 year term. So, this theoretical payment will be used to qualify for a mortgage, against your income. In other words, your student loans will be a factor, even if you are not paying on them at the time.
  22. So, the alternative is to talk in code and use aliases? "Roger that CIC, the questions have been b* off my the report by El TruCreditor" Was that sarcasm? Oh Boy Oh Boy Oh Boy i hope it was.
  23. Thanks that makes a lot more sense. I hope the thing I was supposed to do was called "send dispute email to equifax" cuz that's the only thing that looked anything like the description. Anywayz, *washes hands of this matter*
  24. This references the EX method of removing inquiries, discussed ad naseum in this thread: http://www.debt-consolidation-credit-repair-service.com/forums/showthread.php?t=263630&highlight=experian+inquiry Here is the problem, the method used, (quoted verbatim): 1st post Quote: Go here https://www.econsumer.equifax.com/co...online_dispute and enter in your zip code. At the top of the next page right under the Red Colored Welcome Message, you can select "click here" if you dont have a confirmation number. You can only do 6 at a time but you can go back and do all of them. I removed 16 inquires. 5th post Quote: Just put in the creditors name and under the account number field I put "Inquiry month/day/year" (Example "Inquiry 03/05/07") as listed on the CR. Now look at the following pictures of my attempted dispute 10 minutes ago, and tell me where I can enter a creditor's name, and where I can furthermore enter an account number. Also please advise as to how there could be 6 different disputes at all, given that there are only 3 places to enter information. The creditor name and address are static, cannot be changed. HELP! HELP
  25. Yeah, I really dont understand all that. Perhaps a TU rep in our midst? Google was how i found this place originally...
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