AboveAverage

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Everything posted by AboveAverage

  1. Nice letter. If you are going to write to the CA, do a 1-2 punch to the CRAs as well. When you dispute to the bureaus, just make sure you include a copy of your driver's license as well as state as your last sentence "I have included a copy of my driver's license as proof of my identity." You won't have any stalling issues when you send that out.
  2. This is definitely akin to a clean well dressed guy who is broke, versus a bummy, kinda dirty guy with a whole lot of cash. If I'm a bank and I don't know either of these folks' financial situations and had to guess by appearance, yeah, I'm going to bet on the clean, well dressed fellow to give my loan to. Not knowing that I just placed my bet on the wrong horse. Amex is pretty much doing the same thing. In college, I was offered an AMEX card and got denied because my college had a history of high defaults (and no doubt, I'd have been one of them, though I was still a bit shocked they wouldn't give me a chance with that). So this really isn't surprising to me that AMEX would pretty much discriminate like that just so cover their butts.
  3. All the more reason to go with the 20% down. I will almost guarantee that in 3-6 months the rates you see now are either going to remain the same or be lower. The low rates are tied into the economic mess we're in right now. Even if I'm wrong, I really don't think rates will not go up by much. I've been looking at getting a house myself and know that this is the time to buy when rates and prices are very depressed. But I feel it's going to be like this until at best Summer '09. Plus, you can always refi later anyway. Also, with 20% down, you will definitely go through less bull' then you will with FHA. Yeah, you'll still have to provide income verification, but it won't be as strenuous. Plus you'll have equity already in your new home. Plus in 3-6 months, it will give you a great plan to work out what kind of house you want as well as other issues you no doubt will need to work out. Good luck.
  4. Dayum, girl....welcome back. Everybody is starting to come back now....
  5. Your partner's way sounds better. It will make sure that you won't pay PMI. With both of you working, you should pretty much see 20% soon. This whole "I want it now" is precisely why the economy is in such a mess to begin with. Yeah, FHA is good, but if you are both working, you can both contribute to that 20%, and the fact that he's the one that suggests it means that he feels that by looking at both your numbers, it can be achieved. Also, if your scores are over 700, you might not need FHA to begin with (even with everything else that's going on with respect to the economy). With regards to both of you, you can both be on the mortgage and the deed. Friends and couples (before marriage) buy houses like that all the time. The only thing you will want to do is to set up a contract in the event that either one of you dies, break up, etc. You both have to protect your own individual interests...you only know what's happening now, but not what's going to happen a year or two from now. Good luck with whatever you decide to do.
  6. A friend of mine who is a mortgage specialist for a bank pulled my stuff (and also NACA(.com not .net). Both only had info that I knew through TrueCredit. Nothing older than that was on their reports. They both provided me with the report they had.
  7. I really hate to be the one to tell you this, but you are SOL. (And no, I don't mean Statutes of Limitations...I mean that other one....) Federal Student Loans never go away. In fact you should have definitely seen them defaulted on your CRs. The fact that you got something now, will mean that if you were enjoying tax refunds, they will now be offset. What I would do is see if your loan exists on this site: http://www.nslds.ed.gov/nslds_SA/ If it does, find out if this collector is your guarantor (you will see that information there on the NSLDS site....you're going to have to fill out stuff for a pin and all that). Then you'll want to see if you can work out a payment plan or rehabilitation. This isn't that type of loan that goes away after 7 years (trust me...I know....).
  8. I can't get all fancy and technical with charts and such, but I can tell you all this: Changing your stuff in your 401k, 403b, 457b, IRAs, now to something else (like say Stocks to bonds) would be bad...real bad. Basically what ends up happening in times like this is that you lock into your losses when you make changes in your plan. I have an 100% aggressive growth plan. I looked at my YTD performance....I'm down 22%. I expect that I will see an upward of 30-40 percent, meaning I'll get my loss back plus the gain. Because I'm 31, I expect that I'll see this type of thing at least 3-4 more times. On the last time I come back from a dip near my retirement, that's when I sell high and lock in some of my gains to bonds/conservative investments....while still having an exposure to stocks so I can beat inflation. I don't have a Series 7, or claim to know the markets. Heck, I can barely spell derivatives, let alone tell you what they are. Point is, keep funding your retirement in good mutual funds. Everything is down right now, so if you can buy more. You will have a sweet retirement when it's all over. I don't even want to go in my Vanguard account right now......you couldn't pay me to do that right now....lmao.
  9. Not that admin's other two points weren't important, but this one you gotta heed. You do this stuff for her, she'll merely mess (or any other four letter word) up again. She has to first acknowledge that she "messed" up, then actually want to fix it herself. Otherwise, you will both get nowhere....
  10. Did you really recite that from memory? Really?! LMAO!!! Or did you find that commercial on youtube and listened to it a bunch of times? I am still LMAO (and hard too....)!!
  11. You must have thought I was serious when I said "Have fun"... (LMAO....). Sarcasm really doesn't translate well on the In'net...I don't care what anyone says. But to remind you of that half-hour you wasted your life.... "The "Chase" brand name is used for credit card services in the United States and Canada and the bank's retail banking activities in the United States. The JPMorgan brand is used by the Investment Bank as well as the Wealth & Asset Management Group's partially merged Private Bank and Personal Client Services divisions. Fiduciary activity within W&A is done under the aegis of JPMorgan Chase Bank, N.A.—the actual trustee. The newly acquired Bear Stearns private client group is currently operating under the name "Bear Stearns Private Client Services, a J.P. Morgan Company" within the Wealth & Asset Management structure." Hope that was more helpful.
  12. Some people are into that. Personally, the only one I remember is Wachovia. My first savings account was with First Fidelity. They got bought out by First Union. Then they got bought by Wachovia who then got bought by...... Oh, we won't know that until the government decided whether one backed by taxpayers should fly, or the other that will be 100% private, but may be iffy because of some silly exclusivity clause.......:roll:
  13. CleverCynic is right. Say I want to start a business, AboveAverage LLC. I would first have to create the entity, and in NJ, I can create an entity online (in my case, I created an LLC, and I'm not going to go over the difference between an LLC, S-Corp, C-Corp, etc, but I will say that a Sole Proprietorship will require you to use your own SSN, and is pretty pointless for the purposes of business credit). Anyway, once you create your entity, you then go to the IRS (which you can also do online) and get the F-EIN so that your entity is now it's own legal entity. Once that is done, you can open up a business checking account in that business' name. Now, in the old days, you could get a staples account, and various other tradelines with no personal guarantee. That train has pretty much left the platform; you will pretty much need a personal guarantee (PG) for getting your business credit if you want a stick of gum on credit. There is nothing illegal about doing any of that. But the stuff you see on craigslist pretty much is. CB has it's own business credit forum and for a time, I liked reading it...but then people started getting stupid, and I had to leave even that alone.
  14. My whole thing about that is that there has to be a legal distinction between a company that's sole purpose is buying bad debts and a company who buys bad debts through acquisition of another company. The latter, IMO, would make the acquirer, if you will, the new OC. But as you say, a lawyer (http://www.naca.net) would definitely be in the OP's best interest... BTW, I had to Google hard to find out what CRS (can't remember "stuff") was....I'm heading there myself.....but I still have 9 years before my first midlife crisis.
  15. Wow...that's like the second or third thread I've seen on this topic lately.....what's up with that? I'd imagine if you read up on all the stickies that's in every forum, plus read up on the C.R.O.A., you might have an idea of what's required.
  16. If you are in or near a major city and some bum needs change to get a beer, feel free to give him a dollar. Or, perhaps more seriously, just do one random act of kindness to someone in need.
  17. If your rambling leads to doing something productive, then please...ramble away.
  18. As was said numerous times in discussions you were a part of, FIA Services is the old MBNA. Remember that one thread which said you said BOA was a JDB because it acquired a company that had bad debt? (As opposed to buying just the bad debt itself)...
  19. Have fun. http://en.wikipedia.org/wiki/JPMorgan_Chase (It does have references that are cited.)
  20. I am able to still see my $1 deposited into Wamu.....but I got that message and then the same message JQ26 posted earlier. The funny thing is, I'll probably stop getting those $100 offers to switch now...... The flip side is that they're only a couple blocks away, but BOA has SOOOOOO many ATMs. I never have to worry about ATM fees.....hmmmmm.....
  21. While those folks are getting their own bailout, the bailout most Americans are talking about are the banks that provided the loans and mortgages to the people you're talking about. Because the banks provided billions (if not trillions) in subprime loans that are defaulting (because they somehow thought they were going to make beaucoup interest), the government has to come in like Mighty Mouse and save their behinds. Meanwhile, people like you and me get the finger from the government, and that is what makes me ill.
  22. Security freezes in NJ and some other states are free. I'm leaving that alone for now though. I only want to freeze when I don't want anymore credit anymore.
  23. I voted undecided about it because it is unknown if it will be enough to inject liquidity in the markets. In reality though, I do reject this bailout as no one ever bailed me out when I was down and added to my own liquidity. I had to provide for that myself. But the government pretty much made sure that it would touch my life in more than one way and thus was going to do what it wanted to do anyway. Here are real life examples: 1) Can't apply for new credit because lenders are only going to extend credit to those with minimum 750...and if I do get credit, it will really be at F-U rates. A mortgage right now may be difficult, and plus I will have to really wait to refi my auto loan. 2) My 10k retirement plan is now worth 8k...I will NOT lock in my losses by moving stuff around...just have to hope that the market will rebound. 3) Very scary time to bounce around jobs. Gotta stay put where I'm at or face serious unemployment. If it were just me, I'd take the risk, but I have DF to take care of. It would have been preferable for the US Government to not become a socialist government for the wealthy, but here we are. Now my kids' kids are going to be paying debt that saved some old rich guys millions of bucks. We're all in for some major pain, but all I can do is keep my fingers crossed and hope for the best. What's done is done and there really isn't anything anyone can do to reverse this.
  24. As I said, there is major overlap in the Metro-NYC area. I do not believe for a second that there will be 5 Chase banks in a 5 mile radius (8 tops) in certain parts of NJ. Just not going to happen.
  25. Google, yahoo mail, wikipedia (as well as cited references on various topics), truecredit, msn.com, cnn.com, and various sites depending on need. I always tell people, "I'm only as smart as the Internet allows me to be..."