Speaking of loans... I'm thinking about buying a house. I got a good stable job (gov job) and I've saved enough to put 20% down. I went to two different lenders and both of them said I had a credit score of zero??? Neither have ever seen this. The credit report ran and showed my two charge cards and my two credit cards, along with all the details (high amount, no late payments, etc...) but the score is zero. The one lender I went to seemed to know his stuff and he is calling the credit bureaus on monday to find out what's happening. Are there any smart people in the business that could explain what could be going on? Or what I can do to help resolve this? Just something I'm curious about since I have to wait till tomorrow...
"we've checked our list, and you don't exist." bummer. i think this is a prime example of step #1 in the home-buying process. know your credit score. good luck finding yours, destroyer. :beer:
Thanks! Got my score and report about six months ago, 775... All 3 said good things, never been late on a payment... Not sure what could have happened in the last 6 months? :?: Hope I have some good news tomorrow
Well the credit bereau told me I didn't use any credit in the last 6 months, so they reset my score back to zero??? Hard to believe, I have one card with 58 months of balance that was paid on time every month, but it's been inactive for that last 8 months. So I bought something on a card and have to wait 30-60 days for the credit card to report to the big three bureaus... What a bummer...
Weird! I guess I would have been in the same exact situation as you if it hadn't been for my student loans. I never used my credit cards, paid cash for my car, no other payments. Haha, never thought there'd be a time when I was thankful for my student loans... :lol: Isn't there some way you could fight this? Especially if you are looking to buy sooner than that. It just doesn't sound right.
I agree but this is what they told me, I need to have a score (I guess I don't have the bold part): At least one account that has been open for six months or more At least one undisputed account that has been reported to the credit bureau with in the past six months No indication of deceased on the credit report (Please note: if you share an account with another person this may affect you if the other account holder is reported deceased). I guess I'll be ready to buy in 2 months... :-k
Mark Twain said it best "Banks will lend you all the money you need, as long as you can prove you don't need it."
I currently own a home but I probably won't in the next six months. The market, poor decisions, combined with an older home have made us look seriously at filing getting out of it and going into an apartment for 3 years or so and then seeing where we're at.
anyone have any idea about mortgage modification ? i heard that there's a way they can work it that u can get rid of your 2nd ? and also lower your rate. I don't know if its a scheme though.. speaking of refi, anyone know of a good lender? i need to refi before end of year
Yes, I know quite a bit about mods, and I'm a "good" lender. Been doing this for a long time and have stayed successful on referrals. If you would like to talk give me a call 714-757-4221, Patrick. or [email protected] Some of the rate hype is justified, rates are at 40 year lows for conforming 30 yr fixed loan for folks with less than 80% loan to value. (20% equity)
