 I need a big auto loan. i have some questions. please help.? |
| i am soon to be 22 years old. i got my first credit card at 18yrs old and immediately maxed it out ($6500 limit). i made a late payment about 6 months into paying off the amount, but all other ... |
|
 I've just filed for bankruptcy, how can i start building my credit again? |
| i'm getting lots of mail to get approved for a new auto loan.i'm paying my existing car loan i don't know if i should trade in my car and open a new loan to start building my credit? ... |
|
 Can a merchant keep a printed copy of my credit card? |
| Just wanted to ask if a merchant/travel agent is legally allowed to copy my driver's license and the credit card and keep? I recently did a large transacation of about a thousand dollars with a ... |
|
 Debt help needed? |
| I have a daughter. At the moment she is un-employed. Her last employer made it plain that she was going to be sacked. She left because it was becomming impossible to work for them. That has meant ... |
|
 Open a credit card in your child's name and social security number? |
| I was reading that your credit score greatly depends on the length of time you have had credit and that an account opened for 30 years or longer is key to getting you into the 800s. What do you ... |
|
 How do I go about consolidating my credit card debt? |
| I have a good credit score, last time I checked about 6 months ago it was about 720-730. Recently I have acquired a big credit card debt, about $9,000 on one credit card (with a limit of $10,000) and ... |
|
| I am about to make a $500 purchase. Should I get a credit card to buy it? (I am 18 and need credit)? |
So would it be a good idea to go to my bank and apply for a student credit card. And then use it on my purchase, and then pay they bill in full right when it comes?
Will this help my ... |
|
 I went to the interview, and the boss likes me , he was staring at me, and said yes after 5 min we met? |
should i take the job?
its a cool job, but i guess i will awlays have to smile and pretend that i like him back , but married, or engaged or a lesbiian , whatever
should i?... |
|
 I own a house that my mother gave me? |
| but I recently divorced my husband and he left me in a lot of debt with no way to pay.I intend to pay these debts off when I can get a job but can my house be taken away for any of these debts, I ... |
|
 How can I build up my credit when Im only 18? |
| Im only 18 and desperately trying to build up my credit. I was just wondering if anyone knew how I could do so. Thanks!... |
|
 Will adding my son to my credit card impact my credit rating, even if he never uses the card? |
My son read that a way to improve his credit rating was
"Add Your Name to Someone Else’s Good Account.
Piggybacking off of someone else’s good credit is an easy way to improve ... |
|
 I have a credit card question. My credit card is up to its limit and im making monthly payments to pay it off. |
| Is it a good idea to do a balance transfor to another credit card for lower intrest rates or does that just make it worst. Did anyone ever do a balace transfor? and does it help?... |
|
 How do I get my Credit Score? |
I just recieved a personal credit file from Equifax, but it did not include my credit score. How do I go about getting that score?
I live in ... |
|
 Why is the lost or stolen number written on the back of your bank/ credit card? |
For goodness sake!!!!
If you lose it you would never know what number to call anyway!!!!!!!!!!!!!!!!!!!.......
Egg's site impressed me though, first thing you see in the &... |
|
 Does anyone know of a place that re consolidates private student loans without running your credit report? |
Additional Details
I have about 40k in student loans through Sallie Mae that I just recently brought current and the monthyly payments are $600 and my APR is 18.24% I need to do ... |
|
|  |
klcmommy | IF I HAVE VERY BAD CREDIT BUT I HAVE $20,000 DOLLARS TO PUT AS A DOWN PAYMENT ON A $185,000 HOUSE CAN I DO It? |
I HAVE 1 &1/2 YEARS TO BUY THE HOUSE THAT I AM LIVING IN OR THE MONEY GOES AWAY. I DONT HAVE GOOD CREDIT AT ALL AND SOME OF THE THINGS ARE RECEINT( LATE PAYMENTS,NON PAYMENTS, CAR REPO. ETC) CAN I GET A LOAN WITH BAD CREDIT IF I HAVE 20,000 DOWN PAYMENT? |
 |
 
mark d
|
From your description of the situation, this sounds like a rent to own agreement where a part of your monthly rent would be applied as a down payment if you decided to purchase the home. If this is true then what you would want to do is take the next year to do everything possible to clean up your credit. You need to maintain a strict budget, work out payment plans with your creditors and see if they would be able to reage the account if you meet certain criteria. If you can do this then you may be able to raise your credit score and have some of the negative reports removed. As a lot of people have mentioned the rate that you may qualify for might be very high, but you might be able to get in with a lower adjustable rate mortgage to start. If you choose this option it is very important that you continue to work on your credit during the period that your mortgage is locked at the lower rate, that way by the time the rate begins to adjust your credit should be even better. If you can commit to that then you should be able to refinance into a lower fixed rate mortgage. You really need to sit down and look at your monthly expenses to see what can be cut, and to see if this is feasible for you to try. |
|
Rick B
|
Sure, but you will get hosed on the interest rate. In light of recent events, you might not be able to get a lona at all.
If you have that kind of time, I'd suggest you straighten up and pay your bills ON TIME EVERY TIME and see how it looks in a year. |
|
Pat McCrotch
 |
As has been written already, the interest will be hard to take, but if your credit is already that bad and you're that keen to get a house, I'd take any deal I could get. That way you'd have reached your nadir and be able to build on something.
But if you've got an ounce of patience, rebuild your credit before you bury yourself in un-needed finance charges and the like. I stopped myself from doing it by imagining the rep of the loan company was complaining that my payment barely fills up his hummer. |
|
Smoothie
|
Wouldn't cleaning up your credit with that money make more sense??? Highly unlikely when you have had reposessions. Especially right now, it is really hard for even people with good credit to get a decent loan.
I'd take that 20,000 and pay off your debt and start fixing your credit. |
|
dixie58
|
lower your expectations or you will not only lose the house but the $20,000 dollars and any and all money paid because you will not be able to keep up the payments and it will be foreclosed on.you have 2 options.you can take the money and clean up your credit report or take the money and use as a down payment on a cheaper more affordable home but don't get sucked into a bad loan!!! many people are losing their homes because of tricky loan officers.if you have to wait.just do not be a fool good luck. |
|
bdancer222
|
If you have recent negatives including a car repo, late payments, and non payments. it seems very apparent to me that you absolutely cannot afford to live in this home now. How will you manage when you own the place and still have all your current bills, plus that big mortgage payment, and all the money needed for routine repair and maintenance to the house.
Use the $20K to fix your credit and start living within your means, including finding a place to live that you can afford. |
|
PiggiePants
|
If I were a lender, I'd have wonder why you have $20,000 cash and are not paying your bills... |
|
HouAnswerGuy
|
I would not count on it with recent credit events and mortgage tightening rules. |
|
gogo7
|
Probably not because the bank still has $185,000 at risk. You still have 1.5 years to clean up your credit and pay your debts. Nobody in their right mind is going to loan you money when you stiff your lenders for the money you borrowed. |
|
claudiacake
 |
$20,000 is just over the magic 10% down payment, but I think you can find financing. You will pay a high interest rate so be prepared for that. Talk to a Realtor (not a real estate agent). Ask for a recommendation of a mortgage broker. The way the housing industry is going right now, you should find financing without much trouble. The slower the industry gets, the more anxious they are to lend money. |
|
mytic0420
 |
you could probley put the money down but with only 11/2 to buy it , you might end up loosing it anyway,, why not put the money down on a cheeper house and your pmts would be smaller then as you pay monthly your credit will go up |
|
G
|
take the 20,000 and buy income property. |
|
Gary H
|
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 |
|
| |
|
| | |
| Questions List |
Answers | Last Post
| | | |
12 | 6 minutes(s) ago
| | | |
12 | 42 minutes(s) ago
| | | |
9 | 45 minutes(s) ago
| | | |
11 | 1 hour(s) ago
| | | |
10 | 2 hour(s) ago
| | | |
12 | 3 hour(s) ago
| | | |
12 | 4 hour(s) ago
| | | |
12 | 5 hour(s) ago
| | | |
12 | 10 hour(s) ago
| | | |
12 | 2 day(s) ago
| |
|
Homepage 
Financial
Forum 
Credit 
No Spam
Adult 
Gambling
Unfinished
Deception
Plagiarism
Not English
