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Search: "Credit report"

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Asked 10/15/2009 06:48 am CT (Clinton, MI)

Hi I've been at my job for 3 years. I bring home about 20,000 a year (not much) and my credit score last time i checked (about a year ago) was 566. I had collections and almost all of them but 2 are paid off. I have others on my credit report that have been paid and i tried having them removed with no such luck. I would like to buy a cheap home say 50,000. Is this even possible for me? What can I do?

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You'lll need a minimum of a 620 FICO score at this time to qualify for a mortgage, but that's just t...

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Asked 01/05/2009 11:15 am CT (Anaheim, CA)

Hello, my fiance and I are saving up to buy a home and I have concerns regarding my credit score. His credit score is in the mid 800s and my Equifax credit report is 652, Experian credit report is 682 and my TransUnion credit report is 682. His aunt is in the real estate industry and she said that due to my credit it is best to NOT have me on the loan. What gives? Is my score really bad? Should we just get the loan with him alone or should we not listen to the aunt?

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Your credit score may not give you the best pricing or make available a few Lending Products that ar...

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Asked 01/05/2009 11:15 am CT (Anaheim, CA)

Hello, my fiance and I are saving up to buy a home and I have concerns regarding my credit score. His credit score is in the mid 800s and my Equifax credit report is 652, Experian credit report is 682 and my TransUnion credit report is 682. His aunt is in the real estate industry and she said that due to my credit it is best to NOT have me on the loan. What gives? Is my score really bad? Should we just get the loan with him alone or should we not listen to the aunt?

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Ashley, The best loan available with the least amount for down payment and credit scores as low ...

[ Total Answers: 1 ]

 
 

Asked 01/05/2009 11:14 am CT (Anaheim, CA)

Hello, my fiance and I are saving up to buy a home and I have concerns regarding my credit score. His credit score is in the mid 800s and my Equifax credit report is 652, Experian credit report is 682 and my TransUnion credit report is 682. His aunt is in the real estate industry and she said that due to my credit it is best to NOT have me on the loan. What gives? Is my score really bad? Should we just get the loan with him alone or should we not listen to the aunt?

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If you can qualify without, it's to your benefit to not be on the mortgage. Should anything happen ...

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Asked 07/11/2008 01:06 pm CT (Pittsburgh, PA)

If you refinance your mortgage and there are judgements on your credit report, are the judgements required to be paid off with the mortgage refinance? Thank you

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Hi Dina, That is usually the case. If you would like to talk more give Missy a call at 484-224-2...

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Asked 04/17/2008 10:20 pm CT (Louisville, KY)

My husband & I would like to purchase our 1st home. I have a middle FICO score of 556 & my husband's is 585. We are having difficulty finding a lender to approve us for a loan due to our low credit scores & I took 10 months off work last year to care for our child. Are there any lenders out there who will consider a 556 score? We do have some collections on our credit report. We make roughly $50,000 a year & are hoping to buy a home for $132,000 We also have 20% down in the form of gift funds from my father. Does anyone out there know a lender who will approve us with our credit scores & collections on our report? Thank you in advance for any help or advice.

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Asked 04/14/2008 09:24 am CT (Concord, NC)

My husband and I recently tried to refinance, after having a bad experience with another mortgage company who promised to help us with a refinance after we accepted an 8.5% arm to help clean up our credit. After the six months, we returned to the mortgage company to start the refinance process which was to be free of charge the second time around. (this was a big joke) The company would never return our calls to start the new refinance. I went online and got a copy of our credit reports and my husbanand I had a score of 650-700 depending on the reporting agency. This was a great improvement from where we were when we did the original refinance 6 months prior. We did some research online and decided to try for a FHA loan. Everything seemed to be running on course. We had an appraisel done and the house came in way above it's value. The company that we were working with told us that they would not order the appraisel, if they were not confident that they could get the loan approved. I am self-employed and my husband works for a company. They had no problems sending out loan paperwork with a 7% interest rate and PMI. We refused the loan and explained that we were not desperate to refinance. They came back and with new loan documents with a 6.7% interest rate and a one time PMI fee, but had tacked on various other points that made the closng cost $10,000. They have since contacted us and told us that they cannot do the loan because my husbands credit score is too low and his dept ratio is too high. I understand this but I think they should have made this decision before we paid for the $350 appraisel. Since I have had a profit loss in my business, they could not consider my credit score or income. Are there any loans that I can look into as a self-employed person.

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It's a typical scenaro for self-employed individuals to have difficulty documenting their income. Th...

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Asked 02/11/2008 06:31 pm CT (atlanta, GA)

How long does a foreclosure stay on your credit report and more importantly how long does it negatively affect your ability to purchase another home

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Typically 7 yrs and 4 yrs to your questions. Lenders want to see at least 4 yrs since BK AND a re-es...

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Asked 01/18/2008 11:20 am CT (Miami, FL)

I was asked by a relative if they can use my good credit score so they can qualify for a mortgage. The agent told them that they would check my credit report but the mortgage would be in their name not mine. Is there such a thing as what this agent is saying. I am very leery.

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Hi Helen, Your instincts are right, you should be very leery of this situation, as your name will ...

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Asked 12/01/2007 01:46 pm CT (Portland, ME)

My husband's credit score is 750 and mine is 740, but my husband has court judgements on his credit report and credit report lists his credit as "fair". Can we put the house in my name and co borrow on the loan. (We need my husbands income to qualify for the loan)

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Hi Carrie, First off, your credit scores are excellent and you both should feel good about that. ...

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Asked 11/10/2007 12:42 pm CT (charlotte, NC)

I have a judgement on my credit report and I want to apply for a 1st time mortgage. My credit score is in the 600's. Are there any mortgages available for ist time buyers that will allow them to wrap their debt into the mortgage payments including a judgement. If not, what are my alternatives. I really want to buy a home. I have a good job history and salary.

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Asked 10/27/2007 01:12 pm CT (hebron, KY)

In looking at my credit report, I see that my second mortgage lender has "charged off" my account. Can you explain what this means? Can they foreclose? My second mortgage lender is different than my first. Thanks.

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Asked 10/03/2007 02:03 pm CT (san jose, CA)

Me and my husband filed chapter 7 bankruptcy 8 years ago it will not come off our credit report until Nov '09, our credit scores are 730 and 731. Our there any good loans for 1st time home buyers.

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Hi Patricia - Our office is just up the 880 in Castro Valley - We have both real estate services and...

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Asked 09/16/2007 06:05 am CT (Dimondale, MI)

We allowed our morgage broker to purchace our home on a land contract we never saw the credit report nor did we ask. He handled the finance. We thought that he was honest. We are in serous trouble having two homes. He is late every month we combined the two morgages but can't afford to pay his payment and ours. I guess you would call him the preditor and we can't go any further. We want to allow deed in lue of forclosure or short sale. Who should we contact or what should we do?

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Asked 07/25/2007 01:55 pm CT (portland, OR)

i have an average credit score of 554 and was trying to figure out if I could qualify for 0 down on first time home buyer program.. Sense I did pull that credit report I did pay off one of my collections

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Jeremy, give me a call and I'll shoot straight with you. Larry Morris, PDX-Mortgage.com, 503-476-385...

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Asked 04/20/2007 04:15 pm CT (Dallas, TX)

I was recently declined for a home loan. I asked my loan officer to email me a copy of my credit report. He stated it was against the law for him to do that. That I would have to contact equifax to get it. Is that true? What law is that against?

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did you sign a credit disclosure if not he does't have to give you a copy? ...

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Asked 04/18/2007 09:37 pm CT (Cheswick, PA)

Right now my goal is to get out of this cramped trailer, and get into a much needed house with more space, since I have three growing children. I know I can't afford much, so am interested in a small 4 bedroom house in a decent low income area for 27900. Various calculators say I would be paying total cost a little less for this house than I do my current rent. One of the problems is that I don't work, and my husband doesn't exactly have a solid work history. Actually he is with a very good company that is well suited for him. He is now a Class A CDL truck driver. The first company that hired him, shouldn't have been hiring rookies right out of school. The second company was local where he worked for a year, but things wern't going so well. Then he drove for a temp agency. Now he has been working for a very good company for three months, he making the miles. The company seems to be happy with him, and he is basically happy with the company. Before he got trained in trucking, he worked 7 straight years with a low paying school bus driving job. My other problem is our creidt scores. I just bought my score and found out it was 657 not prime. Last year his was 647 high risk, but don't know what it is now. I decided to wait to get his until I feel like I can either move forward with a mortgage or paying off debt. Both were from experian. If I could get a hold of this house or another around that price range, I wouldn't be any worse off. I need a roof over my head one way or the other. Actually I might be a little better off, since it very well could free up some money even if it is just a little. I feel stuck because of the lack of a down payment, closing costs, my husband's work history (eventhough he is making the most he ever had in his life. This is still towards the low end of the payscale at .33 cent per mile averaging 2500 a week.), and our credit. Question 1: Is there any hope for me? Is there any way I could get into a house fairly quickly? Would it be better for me to wait and hope beyond hope something else pops up later when I have more money? There are not too many 4 bedroom houses for that low, and it does not look like a handy man special on the outside. From what my mom heard, the previous owners took fairly good care of it. Maybe I'm thinking to small, and need to wait until he gets a raise also. Maybe the market will fall more in that area also opening up more potential. There are already investors grabbing some for rentals though. I hate where I live currently. I already ran out of room a year ago. Question 2: Dealing with a little extra funds I'm going to have. I have a school loan I'm going to start repaying on next week. In nine months it is going to go up. The difference of what I'm going to pay now and payon later is about $130.00. Should I: A) Pay down the car loan - get it paid off quicker - then put the car loan money towards the school loan to help get that paid down quicker? B) Try to pay off some of the debt on our credit reports? C) Sock it away in savings to build up my cash to get a mortgage?

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Hi Suzanne: You need to apply with a quality loan officer and have your entire situation reviewed. ...

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Asked 04/05/2007 04:51 am CT (magnolia, NJ)

This might seem a little strange, however I would like to know if there is a way to remove my name from our mortgage? It is a VA loan and no I am not getting divorced. My husband is always late for at least the last 3 years and my credit report is being distroyed by this. I am not a person who is ever late on bills. Is there anything I can do?

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Yeah, take over the responsibility of that bill.

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Asked 03/15/2007 10:25 am CT (yonkers, NY)

hello i had 5 depths on my credit report, i paid off 3 in full and my 3 credit scores are 513,530 and 533 how soon after will i see a different in my score number and would it go up enough to get 100% finance. thank you

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Asked 02/28/2007 01:42 am CT (san jose, CA)

How can I submit a loan package directly to a lender to get wholesale pricing as to avoid fees from the broker such as origination, yield spread premium and other inflated charges. I could easily order an appraisel from a licensed appraiser, order my own credit report from the internet, fill out the 1003 form and various other forms and provide the underwriter all the additional documentation and conditions needed. This would save me thousands by eliminating the middleman since I know exactly what type of loan I want. I'm frustrated because I can't do it myself and get wholesale pricing (par rates). Is this possible and what lender will do this for me?

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Rick - I would also pose this question. What is it that you do for a living and do you work for fre...

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