JoeDirtPharmD Posted December 7, 2004 Report Share Posted December 7, 2004 So, I closed on my house April 30, been here almost 8 mos. The loan is currently structured as an 80/20, 2/28 ARM. The rate on the first isn't so bad, the second - it stings a bit.Purchase price was $128k - value, going off of what identical homes in the neighborhood are going for and accounting for my larger lot and full landscaping all around, is about $155k (neighboring homes are selling at $148 - $151k). And the equity rises just as sure as time passes - cannot buy into the neighborhood on a new home under the 170's. It's been fun.So, on the second, I owe $25k. I would like to refi this and try to get some $$ out to pay other expenses because this work/rotation schedule I'm on is about to kill me. There is a prepayment penalty on the second (6 mos of interest) and I'm OK with that.Scores? Anyone have a clue/direction? Prev. BK in 03/01, scores are terrible, as always, 520EQ 592EX 613TU. No lates on the mortgage. A 30d from Aug of this year when I bungled my car payment - no other recent lates. Revolving sitting at around 65%Documented income at $3200/mo gross - if the lender needs it I have a Offer of Employment at $9240/mo starting 06/05 (graduation).*sigh* Did I leave anything out? I'd like to find a rate under 11% if poss. - but I know beggars can't be choosers. And if I have to wait, so be it. Was wondering if anyone knew of some places to get started?Thanks Link to comment Share on other sites More sharing options...
egypt35 Posted January 14, 2005 Report Share Posted January 14, 2005 hey joe, I am glad to see that i am not the only pharm.d to go bk. Congrats on your graduation. Link to comment Share on other sites More sharing options...
Recommended Posts