 Repairing my bad credit? |
| I got 2 credit cards when I was 18. I had them both for about a year and was very good with payments, never one late, then I had some tough times at my job and missed some payments and then all the ... |
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 Student loans and credit? |
| I'm 20 y/o, have 3 credit cards all in good standing, pay above the minimum every month and ahead of time...I've had 2 of the cards for over a year and one since Dec. 2006..I don't ... |
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 Paper or plastic? (nothing to do with bags).? |
| Which one do you use more of, you cash or your credit card. Which one is more safe? Which one is more easy to use? I use my debit card everywhere I go, but should I start using my cash now. What do ... |
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 I need a loan!!!? |
| i need a personal loan for atleast $2500.00 and i was wondering if or where i can get the loan without a co-signer and no credit!i have been working for about 1 and a half and only get paid $6.50 and ... |
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 Credit card question? |
| Hi there. I'm 18 and fresh out of high school with my first college semester starting this september. I'm interested in getting a credit card, but is it possible to get one without ... |
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 Will a credit card payment that was 3 days late effect my credit score? |
| My boyfriend is freaking about because his credit card payment was 3 days late (and the one time it was late before, his credit went down 100 points! We just recently checked his report). Will this ... |
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 Why do people type so much to ansure one question? |
| i see some people who type a hole book in 1 ansure but what is the use it takes so much time and ... |
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 How do you get a car with bad credit? |
| I am trying to purchase a car my credit is pretty low...I tried and I couldn't even get a $20,000 car, the bank was only willing to give me $8,000. The reason is I have a charge off on my credit ... |
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 How can i build credit fast? |
| I opened a bank account on th 26th of november on my birthday and i now got a debit card and credit card on the way. I wanna get good credit fast to drop a $500 deposit at AT&T. How long would ... |
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 Will asking for a credit report lower my credit score? |
and what is a good score?
Additional Details
how much more will it go down?... |
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 Question about debt collector in concern with my wife? |
| I recived a call from a bill collector "very nasty" claiming he works at a law office and here to collect a debt for a Discover card. I told him i dont know anything about this, he ... |
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 How can I pay off all of this debt? |
Just a run down on our financial scenario: (balances)
Card 1: $507.53
Card 2: $4,575
Card 3: 9,331.17
Card 4: 5,388.50
Card 5: 621.63
Card 6: 2,490.65
This ... |
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 Paying off credit cards? |
| Is it better for my credit rating to close my credit card accounts which have been paid off in full or to leave them open?... |
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Brett B | I have bad credit but about $40,000 to put down on a house, anyone know a lender to help? |
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Credit Guy
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Be smart and take some of that money to repair your credit. It can save you up to $200,000 over the life of a 30 year loan. Do you want to pay $200,000 more than you have to??? Ask yourself that because its a very serious question.
Please learn how to repair your credit before applying for a mortgage. Don't pay the subprime "stupid tax", man. You don't have to.
It should only take 90 days to repair your credit. |
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ckm1956
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Let me get this straight...
You have bad credit.
You want to borrow money for the down payment on a mortgage.
(How are you going to afford the payments + insurance + maintenance?)
Not a good idea. Most mortgage companies want to see that down in CASH, not from loan proceeds.
Save your money, clean up your credit, THEN consider a house. |
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Noah_Bodie
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"Bad credit" is often in the eye of the beholder.
You might have an old late payment from 6 years ago, and believe it's the end of the world.
Me, I have two paid collections, and an unpaid collection that I'm paying on and my median FICO score is 650 and climbing.
$40K down payment might mean something or nothing. If the purchase price of the home is $200K, that $40K is very significant. If the purchase price of the home is $800K, it might help a little but you'd probably be better served sticking that $40K into an emergency fund and going with 100 percent financing.
Don't be discouraged by others whose financial advice is limited by the headlines they read. Yes, subprime lenders have been tanking, but foreclosures have been on the rise, home prices have been falling, and those factors tend to create a buyers market. |
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kate
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Any chance of using some of that $40K to clean up your credit and save a fortune in % charges ?
> |
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supercreditguru
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Speaking as a nationally known credit score and mortgage lending expert (book, radio shows, newspaper column, etc.)...
It could depend on the MORTGAGE credit scores (not what you get on the internet), and perhaps how easily those scores can be raised. I've helped people easily raise scores as much as 170 points in 6 weeks without deleting negative items. Other people it takes six months to get that much increase and they have to really work at it.
It depends on what percentage of the purchase price $40K is.
It depends on what your credit has been like over the past 12 months, even if your scores are awfull, as there is mortgage lending that does not use credit scores at all, just the past 12 months of credit with EXCELLENT rates...so ignore those telling you to spend your $40k on your bad debt.
Paying off bad debt usuallu makes credit scores worse, not better. That is the credit score answer. The ethical, responsible answer is that one should pay what one owes. There are at least those two considerations to think about.
Mortgage lending is VERY complex, and it isn't only about scores.
One isn't supposed to advertise in Yahoo answers. But I'll take a chance and suggest this number: (866) Dave Peters |
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lets d
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There are hundreds if not thousands of websites on the internet enumerating the ways to apply and receive home loan when you are plagued with bad credit issues. These sites help consumers with bad credit scores to increase the viability of their existing credit scores and set up loans regardless of their credit history.Companies that specialize in bad credit home loans; usually offer a wide range of options for consumers with bad credit<!--These options include Bad Credit Home Loans, Home Equity and Line of Credit (HELOC) Loans and different options for Mortgage Refinancing, making it possible for those with bad credit to realize the dream of owning their own home.You can find more information on Home Loans here,
http://badcredits.awardspace.com/homeloans.htm
They also offer a debt consolidation offer which helps the home owner organize a comprehensive program for controlling their spending. Many consumers with bad credit are grateful for the opportunity to receive a second chance, sort to speak-->Bad credit hasn't stopped them from purchasing a home. There are several programs available for people with bad credit that helps to restore their credit status and to live debt free lives. |
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ThatGuy!
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You should be able to buy a house. However, with the way sub-prime loans are going these days, you'll have to come up with 25% down payment probably. So you'll be limited to how much you can spend.
Find a mortgage broker in your area, they should be able to help. |
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Gary H
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Don't lose hope if you're looking to buy a home. There are so many different ways to fund a home now, just about anyone with any kind of credit can get into a home, regardless of credit situation.
Of course, some will cost you more money in the long run, but a home it's still one of the best investments that you can make, so, in many cases, it's worth it, especially for the first year of ownership.
You should shop around, and ask different lenders what kind of programs they have, and if they can help. Try to find a lender that specializes in bad credit mortgages. You can find some bad credit mortgage lenders listed on this page on and off:
http://www.axalda.info/bad-credit-mortgage.html |
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ScamBuster
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Hello friend good luck on your Loan search...
Beware of Advance fee Loan scams.
LOAN SCAM - Do Not Pay UpFront Fees.
Do not send money UpFront via Western Union or MoneyGram to any person or business in the UK, Nigeria or Canada in hopes of getting a loan. If you do you will learn a hard lesson & never see any Loan money. |
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Casey C
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What's the purchase price of the house? What's your score? How much money do you make? Is it provable income? Are you a home owner now? If not, how well do you pay your rent? How old are you?
Depending on the answers to these questions and a few more I can give you an answer. |
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Rick B
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Probably not. Have you been watching the news or reading the paper? Sub-prime loans are going to be very very difficult to come by.
Instead, take some time to clean up your credit by getting your debts paid off and make some timely payments. If you get a loan with bad credit it will end up costing you a fortune in fees and interest. Just keep renting and saving up that money while your credit heals. |
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