 What happens if I let my credit card go to Default? |
| I can't afford to make the repayments at the moment.... |
|
 I need money advice.....not judgement? |
| okay...so i totally messed my finaces like an idiot. I have horrible credit and cannot get a loan and have noone to borrow money from and nothing to sell. I need a grand ASAP. Any ideas?... |
|
 Do you think Credit equals wealth? |
I see tons of questions in this category which pertain to a TOTAL obsession over credit scores, cleaning up ones score, improving scores and the like.
PEOPLE: The use of credit, especially ... |
|
 I only payed half of my credit card payment? They raised my minuminum payment..how can i get it to go down.? |
| I am a college student and working a part time job with 300 dollars a month and i missed a payment and my card went over the limit. They raised mt min payment to 67 dollars. What can i do to get it ... |
|
 Whats the best way to get approved for a credit card if you don't have a job and a bad credit rating? |
| is there a web sight i can go to for the un-employed and bad credit ratings that they will approve me for a credit card?... |
|
 My credit score is @ 570 and i have no debts, why can't i get approved for another credit card? |
| i have an ok credit score of 570, almost no inquiries, only 1 debt in collection and 1 credit card that i'm paying off, my credit report says it's pretty clean, why do i keep getting turned ... |
|
 Can I cancel a credit card account without paying the balance in full first? |
| I have this card that is going to start charging me a monthly fee to use it, and Ive been wanting to cancel it for a while now, do I have to pay the balance off in full first or can I cancel it and ... |
|
 Debt consolidation question? |
| I have been searching the net a bit, but not sure what i'm looking for. I'm looking for a way to consolidate my debt. I have never done this before, and not sure what place would be good. O... |
|
 Should i go out tonight?? |
| i get paid tomorrow but i owe my mum £500 and counless amounts to credit card companys and the like, and i only get paid £500 (poor student) my mate said he would lend me some cash?... |
|
 My dad got a check and is giving it to me to use to pay for my car. How do I put his check in my account? |
Dads check + _________ = $ in my account
Additional Details
It is a check he got for a job he did. so it is from them to him.... |
|
 How will cosigning for a Cell Phone affect my Credit? |
A friend of mine was sent to a collection agency because of breaking a lease for an apartment... so her credit sucks.
She's asking me to possibly cosign for her to get a new Cell Phone plan.... |
|
 I just graduated from college and am having trouble finding a job! What should I do? |
| I am a single mother of two. I currently am living with my boyfriend and I am not happy. I want to break up but I am afraid I will not be able to find a job fast enough to be able to support myself ... |
|
 How does one build up a good credit history? |
| I need to start over and need help! I need steps to to do so thnx!... |
|
|  |
joe j | Should I purchase a Home now or wait and approve my credit score? |
I applied for a home loan and was approved, but was given a rate of 10% that I know is very high. My credit score was a 600. Should I clear out some things in my credit and boost my score and try again in a few months, or should I continue to purchase the home in which I have a contract at the going 10% interest rate and refinance in a year or so? |
 |
 
mel
|
forget the credit score hoopla. the more cash you have to put down on a house, they less risky your loan is, and the lower your payments will be. simple economics. your "score" is not going to mean much. |
|
daddyporky@verizon.net
 |
that rate is high... right now the banks and loan compaies are hurting. people cant pay their debt.. i would wait and pay more down.. the mortgage rate is about 4 percent now.. if you were to resubmit your mortgage request now. i think you would find better terms. ok gilermo |
|
Student
|
wait!!!! |
|
raysmithson1
|
you should get a better rate like 5 or 5 1/2% |
|
Happy NEW Year!
|
Try to improve your credit score a bit....10% is WAY too high and the homes will contine to go down in price for a bit. It shouldn't take you more than a few months to improve your score. |
|
GetYourLifeBack
 |
There will be plenty of houses for the next year or so and 10% is highway robbery. Lower rates come with a higher credit score. Find out how easy that can be here -
https://getyours.fixcreditbiz.com/credit_repair.php |
|
tudorjason (matt)
 |
I would wait. Home prices will likely continue to decline for at least another year. During that time, you can save up and raise your score. That way, you can put down a larger payment and have a lower interest rate.
Good luck. |
|
Steve R
|
Wait. To get the best rates, you have to boost your score by paying your bills on time. |
|
Jamerican
|
Wow 10% should be considerd a robbery!!! Impatience will cost you WAY more in the long run. Its best you wait a couple of months. Make sure your credit score is at a resonable number before you apply for any more mortgage loans. 600 is considered low and a liability to lenders. You should aim for about 680 and up.
Also, too many inquries on your report can also affect it in a negative way. So, once you are ready, you will want to compare different lenders to see who gives you the best deal.
I suggest you read a couple books on buying your first home. They will tell you all of what to look out for. Your credit score is NOT the only thing (Your debt-to-income ratio is also very important on obtaining a mortgage loan, so paying off some of those bills will be a great start).
Good Luck |
|
oysterStar
|
Depends if 10% works for you, thus making it your own economics issue. Some wouldn't not mind it, but if you do not like it, you might have to wait a couple of years with some work on the credit reports to get a better score and interest rate. I would do an Internet search on Mortgage Calculators, and put in your data at the different interest amounts. A few points in either direction can be significant. It change the payments from $300-500 a month, most of which will seem like 80% of your first few years going almost entirely to interest. It hurts when you see all that money going away, and not reducing the principal amount by very much.
You have to take into consideration what you getting. If you are buying a really cheap house, and have a lot of extra money to play with, a higher interest rate might be better. It would prod you to pay more each month, than the minimal amount.
I personally would not buy an expensive house or go more than 15 years at 10%. I would have it planned to be paid off in actually seven or less. So take your payment amount and think to be able to double or even triple pay each month.
Then it would be okay. I deal with 10% on rental properties, but that is the cheapest you can get on investment properties. |
|
theres the beef
 |
You should definitely wait for two reasons:
1. 10% is extortion and you'll only get access to lower rates with a higher score. The difference in payments between 6.5% and 10% is staggering.
2. House prices will continue to fall or stay flat (at best) throughout the country. Time is on your side, so don't rush. You could potential save 5-20% by waiting another year.
Good luck! |
|
Tim M
|
you get better rates with better credit score and it looks like houses will continue to come down |
|
Liam o
|
If you think you can afford it, go for it.
Houses won't go down that much even with the credit crunch at the mo. |
|
Sassy S
|
A friend of mine just purchased a house with a 580 credit score here in California with no money down from a reputable bank.(2 weeks ago) The biggest thing it usually effects is your interest rate. But you can refinance at a later time if you need to. (my friend got 6.4%) hope this helps you |
|
| |
|
| | |
| Questions List |
Answers | Last Post
| | | |
11 | 3 minutes(s) ago
| | | |
14 | 22 minutes(s) ago
| | | |
16 | 57 minutes(s) ago
| | | |
14 | 2 hour(s) ago
| | | |
14 | 5 hour(s) ago
| | | |
14 | 6 hour(s) ago
| | | |
14 | 10 hour(s) ago
| | | |
14 | 2 day(s) ago
| | | |
14 | 4 day(s) ago
| | | |
14 | 1 week(s) ago
| |
|
Homepage 
Financial
Forum 
Credit 
No Spam
Adult 
Gambling
Unfinished
Deception
Plagiarism
Not English
