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About Refi-2009

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  1. I’m helping my buddy with a GE/Mervyn’s charge-off account opened in Aug-2008 and paid in full Jan 2012. His liv-in girlfriend opened the account in his name never told him about it and it charged off to Paragon Way collections. He paid it in full with Paragon Way collections Jan 2012. It was small, $50, and it looks like there may have been some payments made on the account. There have been no disputes with the CRA’s and no demands send to GE and this will be the first OC strikes on this. It looks like I can’t DV since it’s paid and I’m not sure about a 623. I'm mostly interested in the
  2. You sound like you are in a fairly easy situation. With a mortgage you get to deduct the interest off your tax return and you might be able to own for less than you are paying in rent. The issue is going to be all credit score so you should research credit scoring. It seems you might know that 30% is weighted on revolving credit and if you have less than 15% you stand a very strong chance of maximizing your score in that category. Think about converting your revolving debt to a new fixed installment loan but first make sure you will qualify for the loan. You should know your credit report a
  3. I need to refinance an existing mortgage for my Mother. Current FICO scores are 735, 753 and 802. Current principle is 225,000, $1400 payment and the value is 750,000+. Current Interest rate is 6.625% and the loan is serviced by Citibank. Self Employed Income is $2,000. I’m looking to obtain a 4.375% to 4.5% 30 year fixed rate and clearly the income is the problem. I spoke with a mortgage spokesman from Quicken Loans and they said they don’t have the program for this type of situation. Any Advice? Thanks Kevin As a note, all those engaging in credit repair: You can do it. I took my Mothe