 I just turned 18 , how do i build my credit? |
| what are some methods that will help me build my credit i dont have bad credit i have "NO" credit how do i ... |
|
 I have no debt, only my student loan which is being paid and is not in arrears. Why am I being declined a loan |
| I was nearly fooled into Yes loans but have gone with best4loans instead. I found out they are a con too. So now I'm applying with black horse, but I'm baffled why I'm not being ... |
|
 Purple $5 bank note? |
I have a $5 bill. and on the bottom right it has a big Purple "5"
when did this happen?... |
|
 How to get a loan with bad credit? |
About 5K.
In need of good advice.... |
|
 How much money do i have to make to qualify for a 264,000 loan? |
| I want to purchase a home that is priced at $285,000 I have 10% down, now I just need to know how much I need to make to qualify for a conventional loan.... |
|
 What happens when you just stop paying on a credit card? |
| Seriously, I have bad debt once out of college and this one card has a pretty high limit and it's maxed and I have tried calling them for assistance but they refuse to help me out and lower my ... |
|
 What is the best way to get rid of a credit card? |
| I have an aspire credit card which I haven't had any trouble out of but I want to get rid of it before its time for the annual fee of $150. What is the best way to get rid of it. Cancel it and ... |
|
 I have $2000 in debt. I want to take out a loan to pay this off. What kind of loan should/could I get? |
| I have almost $2000.00 total in credit card debt, on three different cards.(CitiCards: $1000.00, Capital One: $700.00, and Gap $200.00.) I have cut up all of my credit cards, but have yet to cancel ... |
|
 Why would someone fraudulently purchase items on my credit card and send them to my house? |
| Several items were purchased on my debit card and some of the items bought were sent to my house. I can understand why someone would buy something for themselves, but why steal my credit card # and ... |
|
 Why do creditors put so much importance in credit score? |
| I mean ok I go to apply for a loan and check my credit score with experian before I leave. Experian says my credit score is a 656. I have no late pays, no over limits on my credit cards or anything ... |
|
 Money has gone missing from my account.? |
| I went to head out last night and went to the ATM to get money out, knowing I had at least £60 in my account. It wouldnt let me take it out, said I had insufficent funds. So, I checked my balance ... |
|
 Credit card debt that is 6 years old? |
| should i pay it off ( the $2,000) or not? is there a statue of limitations on credit reporting? if yes, how long is it and should i just wait it out or would i still be responsible for this old ... |
|
 I have moved to the U.S. a month ago. I have no credit history. how can I make one.? |
| whatever I want to do and need load they are asking for a credit history which I don't have. what can I do. I live in burlington, VT.... |
|
 What documents or proof do I need to show my son has worked? |
| Are there certain documents I have to get to show that my son worked at a certain place? What is it? He's 15 going to be 16 this year. He wants the evidence for a school credit or something.... |
|
 Bad credit need Credit card !!!!!!!!!!!!? |
| I HAVE A SCORE OF 460 AND EVERYTIME I TRY TO APPLY FOR ONE I HAVE TO PUT MONEY DOWN OR SOME BS... |
|
 I want to consolidate my credit cards? |
| I have about $12,000 in unsecured debt from credit cards. I plan to pay two off soon, but that still leaves about $10,000. I am paying the minimums and have a good credit score (730), but my ... |
|
|  |
Dont_taze_me_bro | Why doesn't anyone else see this? |
I am interested in your thoughts about all the consumers who are now in default of their mortgage. Apparently, these people have no reserves, no savings, nothing upon which to draw in order to make their payments. Doesn't this seem odd? Would it be plausible that these folks could seek second incomes, third jobs, or other similar moves in order to maintain the very home in which they live? What is preventing them from paying? Is it lack or motivation, knowledge, or other?
Additional Details
Thanks for all who responded. Mostly, I am reading that people are victims of "big this and that". I forgot that, as Americans, people always have some reason that's beyond themselves for their desperate situation. It's the education system, the banking system, big media, or skin color. It's never one's personal responsibility. Thanks to all for your opinions. |
 |
 
Rule of thumb
|
I don't agree with you at all. You are obviously know nothing about predatory lending. My cousin lost her house this year after 8 months of both her and her husband working two jobs to make ends meet. Now her and him and their 3 kids live with my aunt in a 2 bedroom house. How about a little compassion? |
|
ibu guru
|
Too many people have been living beyond their means. It does not help that the Clinton Administration put a governmental "gun" to the heads of bankers to give mortgages to "low income" & "minorities" who banks traditionally could never loan to because they were too great a risk. But Clinton signed the laws which allowed new rules and new financing sources expressly for banks to lend to the non-creditworthy. The banks were also under the guns of ACORN (Obama & his ilk), La Raza, Rainbow Push, et al.
The subprime market was people who had limited incomes, limited education, limited creditworthiness. Yet they borrowed.
They also quite often have kids they cannot afford to support, spend what money they have foolishly (yes, there really are people on food stamps who buy pricy snacks and soda, then complain they run out of food money every month), and have a poverty mentality that keeps them poor instead of reading a few books at the public library and learn how to better their own lives. Yes, we have a couple generations of "gimmes" who think they don't have to work their butts off to create whatever kind of life they want. Yes, we have some "gimmes" who think everybody else owes them a living. Yes, we have some who simply cannot do anything sufficiently worthwhile to earn enough wages to pay for a house. And yes, there were some greedy brokers who put people into mortgages they did not understand and could not afford -- but they signed anyway.
So a great deal of the problem was the people who took out these mortgages.
Another aspect is sheer greed. Many people kept taking out HELs, HELOCs, refis, etc. to live off their equity instead of managing equity for their future. Others bought houses to flip and make a quick killing (and got killed instead). Spec builders built houses in hopes of finding future buyers.
There's plenty of blame to shower on about half the planet, frankly. But all the seeds of this mess were sewn during the Clinton Administration -- the Dems in Congress, and Clinton himself, who signed the enabling legislation. |
|
itsjunglepat
 |
A lot of times it is a matter of people seeing how far they can go without making much effort. A sort of preconceived notion that life should be easy, and someone should always be there to save them.
However, the cost of living can outpace available salaries too, and in reality, there is much prejudice in the work world, so not everyone is given equal breaks. Most people don't want to kill themselves working to death which can actually happen. I remember trying to work 13 hrs/day at 2 different locations for low pay despite having a college degree and what it felt like. (they booted me off one of the jobs after a somewhat short time for not wanting to work weekends too)
Years later, I had an ex-boyfriend who made big bucks as an IT administrator, who drove about 50 mi to and from work, and would be on call at all hours some weeks. Recently, I found out that he passed on at the age of 52 despite him not being a smoker, being of good weight, a teetotaler, a good Catholic, an occasional runner, and even a bit of a hypochondriac. I had left the state but kept in touch, so I guess this was sudden. I don't know what happened, but I will bet it's a heart attack just from running himself ragged. What's more ironic is that he had broken up with me not long before I found out I had a second form of cancer 5 years ago. I never took the surgery I was told to have (but used other treatment) and I found out just before the time of my 5 year survival that he died.. It was a truly freaky feeling.
I try not to judge harshly, but I don't think that society should be forced to cover for those who made bad choices. Not that I like to see people kicked out of their homes, but I've had the ability to buy a house for years only to see people jack up the prices and then people foolishly go along with it, default, cause all sorts of economical mess, and then renters get forced to wait longer and realtors/banks start all sorts of pity and pandering techniques for these defaulters. It does make me angry. |
|
informer53
 |
First, businesses should be tried for conspiracy to deprive Americans of their wealth. Creating products we simply cannot live without is atrocious.
Second, advertisers should be sued. They are the cause of spending into oblivion, that leads to homelessness.
Americans have been victimized by countless, unscrupulous vendors since the creation of our Democracy. It's time we held President Obama to his promises to rid society of profit at the expense of the common man.
Self-interest is the bane of civilization. Societal progress occurs ONLY when sharing, caring and sacrifice is at the pinnacle of human hearts.
Ayn Rand books should be burned on January 21, 2009.
If every home, meal, car and job were the same, peace and equality would be attained. God speed the day!
.
. |
|
Niki E
|
IDk butt you were rude to me in a question i asked and i would just like to state my feelings |
|
tudorjason (matt)
 |
It depends on the circumstances, but it is all of the above and more.
I really wish I could say all of those reasons why people can't or won't make their mortgage payments, but the economy is in the dumps and we are losing jobs. Therefore, second or third incomes is out of the question in most cases. I've read that there are some households with more than 2 jobs per couple, but they are still having problems or barely getting by. That is how high some mortgage payments are for just even middle class people.
But it doesn't seem odd. Americans have always spent more than they can afford. We tend to satisfy a quick craving by buying stuff we really don't need instead of saving up if we really want it. |
|
shaneeiu
|
To be honest I think it has to do with people living beyond their means. Or use their money for other things then being responsible and pay your mortgage and bills. Sure I would love to take my family's income and do fun things all the time. However we all have responsibility's and one of those is to pay your mortgage. I do feel sorry for the people say for instance that lost a job, or fell ill. But other than that they have no one to blame but themselves. |
|
bdancer222
|
Basically people bought more house than they could really afford and banks came up with creative financing like interest only and adjustable rate loans on homes in an inflated market. Bubble burst, rates adjust up, and now they can't refi cause the loan is more than the house is worth. Meanwhile, the payment they could barely make has adjusted way up to 2 or 3 times.
It all boils down to greed. Greed on the part of the folks buying too much house, greed on the part of the mortgage brokers, and especially greed on the part of the security brokers and investors who took advantage of the Bush administration deregulation that caused the stock market nose dive.
Personally, I find it very irritating that people who are 3 months behind and owe more than 90% of the value of their house will be eligible for interest rates as low as 3%, longer loans, deferred interest on the principal, and possible actual forgiveness of the loan amount above the current value of their house.
And the poeple who didn't buy more house than they could afford, who went with fixed rate mortgages, and paid a large downpayment, can't even get those low interest rates. |
|
thylawyer
|
You have obviously just arrived on planet Earth and have not read up on the global and US economic crisis. I suggest doing more in-depth research instead of repeating plutocrat platitudes. |
|
Nightrider
 |
Sorry - You are looking at it from your personal angle.
Look at it this way from their angle.
Not everyone saves - they have huge commitments. Income is low but they bought a huge home, huge mortgage.
Jobs are hard to come by - holding more than one is not that easy. They barely meet ends and they made a mistake. Why? Banks' fault - they were too eager to lend without checking them first.
Some amount of cheating going on, I grant you that. If they do not have to pay their commitments, obviously some where, some how some one will help. That's what is happening. But it is dangerous to generalize this. I bet the percentage of such unscrupulous people are low in number.
It is a bit of both - lack of motivation and knowledge
I explained the motivation part above. Most did not know the ARM can come back and bite them. Their naivete sinks them. They went way in over their head.
Like not managing their credit cards, as an example, is mostly the cc holder's fault. |
|
Gary
 |
Yes, they should have never got mortgages they can't afford, but the banks should have never approved them for those high mortgages either.
In most cases the borrowers are young, didn't know any better, and thought, "Wow the bank is approving me for THAT much money!!! They must think I'm capable of paying."
They probably thought, "yes it's higher mortgage payment than I'm use to but I can make sacrifices and afford it." I've thought the same thing about credit card debt when I was young, luckily for me it was only a few thousand dollars that got out of hand (not a few hundred thousand like the mortgages people can't afford). For a lot of people their mortgage was their first major expense and they didn't realize how difficult making the payments would actually be.
Paying all their money on a mortgage doesn't give people a lot of money left over to save.
That being said...I LOVE your name. |
|
tilksmom
|
the payments on most houses specially if it has a Variable rate increase seem to have increased way past the actual value of the property,therefore once all reserve was gone (making payments) mortgage company's would not loan on most of the houses,banks would not help out by lowering most payments because they have loans guaranteed by the government to get paid back.So most people fell so far behind by the time they found any help-if they did find help they where 3 or 4 payments behind making it impossible to catch up.I think the fact that seems to be happening in mass shows what I have said to be a more plausible answer than lack of motivation,so this would fall under the "OTHER" category. |
|
abizzell4hire
 |
They've probably fallen so far behind in debt (mortgage, credit card, etc) that there's nothing they can do now but let it go. |
|
John L
|
First, the housing market is hurting everyone... not just blacks, or certain minority groups.
Second of all, Barrack isn't president yet. He can't do anything right now, so holding him to his promises at this moment is pointless.
The problem started when people thought it would be great that everyone should live the American Dream... own your dream house, go ahead and buy it.
Hey, lets have legislature tell banks to go ahead and give out those loans. Who needs a down payment? Who cares if you owe MORE than your house is worth? We'll just increase your mortgage payments on you, and not care if you lose your house...
Obviously this isn't going to work for most people. But who's problem is it really? Is it all the banks faults for offering the mortgages? Is it the homeowners fault for taking it? Legislature for promoting, and allowing it?
You can make up your own minds on that as I'm sure everyone has different opinions. I think it's on everyone, with a majority of the fault on banks and legislature. |
|
hello555
 |
They mortgage brokers and loan institutions gave loans to people that should not have got them in the first place. To top it all off, I don't know if you look at the stock market it is down by a lot. Also, to top it off the unemployment rate is very high. and there are millions of illegals working that make it even harder to get a job because they work cheaper in most cases than legal people. all of this plus a president that does not know how to run a country. I would do massive deportation at least 10million people and arrest the ceo's of these companies and president bush. Also, bernack the person in charge of the interest rates. Everyone that knows a little about economics knows that this was going to happen even 2 yrs ago, sub-prime lending is not a good idea. I know so many people that have lost their jobs and businesses over this even rich people. So, do a little bit of reading before you talk about things you have no idea about.Sorry but ignorance is a crime.There is to much information for people to not be informed.
www.creditrepairuniverse.net
24 Hour credit dispute
Erase:Chex-systems, bankruptcy, judgments, repossessions, collections,
charge-offs, late payments, inquiries
Free Cpn,Scn:New credit File in your own Social Security |
|
| |
|
| | |
| Questions List |
Answers | Last Post
| | | |
15 | 41 minutes(s) ago
| | | |
15 | 52 minutes(s) ago
| | | |
15 | 57 minutes(s) ago
| | | |
15 | 2 hour(s) ago
| | | |
15 | 4 hour(s) ago
| | | |
15 | 9 hour(s) ago
| | | |
11 | 2 day(s) ago
| | | |
15 | 1 week(s) ago
| | | |
13 | 2 month(s) ago
| | | |
15 | 7 month(s) ago
| |
|
Homepage 
Financial
Forum 
Credit 
No Spam
Adult 
Gambling
Unfinished
Deception
Plagiarism
Not English
