Archive for September, 2008
Monday, September 29th, 2008
jabksufan asked: I am trying to get a loan on a new property, but I still have a small mortgage on my current home. I don’t want to lose out on the new house, but with some past credit issues (6 & 7 years ago issues), I cannot find someone to approve me for a loan while I still have a mortgage. How do I sell my current home and then “see” if I can get approved for my new home?
Mike
Tags: Current Mortgage, Loan Mortgage, New Home Loan
Posted in Personal Finance | 4 Comments »
Monday, September 29th, 2008
Jennifer H asked: Unfortunately we co-signed a loan with my brother in law for his car, and he missed a payment (31 days) and the finance company reported it on my husbands credit. How bad does this look to potential lenders (mortgage). We already have a house, but are looking to move within the next few years. Anyone out there with lending experience from the home mortgage industry that can add some insight?
Please no solicitors
Derek
Tags: Finance Company, Home Loan, No Solicitors
Posted in Credit | 6 Comments »
Thursday, September 25th, 2008
soonerfan0808 asked: DH has bad credit(over 500 in a credit score) and we are looking for a home loan. We currently pay a mortgage payment through a relative who owns the house and we definately can afford the payments. Can you suggest a different company??
Thanks
Scott
Tags: Bad Credit, Credit Help, Ditech
Posted in Credit | 6 Comments »
Thursday, September 18th, 2008
david s asked: Due to all the people who are defaulting on mortgages, it will be a very different environment by the time elections come around. Many voters important issue will be what will the government do to help me into a home even though my credit is damaged due to my last forclosure. What kinds of things will be the hot button issues for the next presidential debates in relation to home loans/mortgages? and what can be done to help people into home loans by the government?
Bill
Tags: Borrowers, Government Help, People
Posted in Elections | 2 Comments »
Tuesday, September 16th, 2008
Digital d asked: When applying for a loan do you need all your emplyment history or do they just go by your credit history to lend you the loan?
I used to work full time but only work part-time nowadays but want to buy a house. But if they look at my stubs they will be too low. But i do have money reserved….how does it work?
Stacy
Tags: Credit History, Home Mortgage Loan, Stubs
Posted in Renting & Real Estate | 19 Comments »
Monday, September 15th, 2008
cmgctl asked: I make 48k per year. Circumstances that have led to bad credit rating are a 60 day late car payment that occurred two months ago. The car has since been paid off. Credit cards are close to the max but always paid on time. Please only respond with a list of possible lenders thankyou.
Joe
Tags: Car Payment, Credit Score, Lenders
Posted in Credit | 7 Comments »
Tuesday, September 9th, 2008
rich t asked: I am in debt and need a large amount of money to pay off high interest revolving credit. My family members will allow me to “purchase” there home (which is paid off) and use the funds to pay off my debt. My question is: is better to “buy” the property with a mortgage or purchase the home for $1.00 and take out a home equity loan. I am also concerned about the tax consequences for each situation. Thanks alot.
Jim
Tags: Equity Line, Loan Mortgage, Tax Consequences
Posted in Renting & Real Estate | 4 Comments »
Sunday, September 7th, 2008
The Skizzanator asked: I’m looking to buy a home. My credit score is 680, but I have no money to put down. What is the best loan option for me? A friend is buying a home and he says his rate is 1% and his mortgage increases by 1% per year. Not his interest rate, but his mortgage payment. That doesn’t sound right to me. Any advice?
Andrew
Tags: Credit Score, Loan Option, Mortgage Payment
Posted in Renting & Real Estate | 11 Comments »
