|
Free consumer info. since 1998! As featured by The Wall Street Journal, The NY Times, PBS, etc.
Another Online Saving Account?
Author: Florydory
Joined: 28 Nov 2004
Posts: 53
Location: Illinois
Posted: Mon Aug 22, 2005 1:06 am Post subject:Another Online Savings Account? http://wilmingtontrustsavings.com/landingcalculator/r11a/?hs99=880886 More competition for ING and Emigrant Direct ! _________________ Florydory does not like to be threatened and/or harrassed by creditors !
Question Regarding First Deposit At EmigrantDirect
Author: diddlydudette
Joined: 17 Jul 2005
Posts: 56
Posted: Mon Aug 22, 2005 9:32 am Post subject:Question Regarding First Deposit At EmigrantDirect For y'all with experience I need some help. I made my first deposit last Thurs. Today, Monday, I finally see where it is showing up in Emigrant. It stayed in pending one day and then it disappears and I e-mailed Emigrant last weekend and asked where it was. They said it was no longer pending and will show up in my acct come Monday. Well, I just checked and it's there, but I also checked my checking acct from where it should have been withdrawn from and it's still in my checking acct. I find that very weird. Every time I withdraw from my bank, it shows up right away. How can it show up in Emigrant and still my personal checking? Anyone else experience this? I'm curious because it's a good bit of money and I was nervous making first transaction.
Wachovia
Author:CreditCardGuru
Joined: 20 Apr 2005
Posts: 394
Location: Durham, North Carolina
Posted: Wed Apr 20, 2005 11:44 pm Post subject: Wachovia I had a bad experience with Wachovia and I wanted to know if anybody else has any thoughts on Wachovia, hence they say they are ranked number one in customer satisfaction, and I doubt that. Thing is I used to work for them and they were nice to me at first, but it's like once I quit my job they wanted to be jerks to me....maybe that's just coincidence, but heck you never know.
Author:fire3000
Joined: 16 Feb 2005
Posts: 25
Posted: Mon Aug 22, 2005 1:24 pm Post subject: Wachovia They treated me very well. I recently closed out two IRA accounts and I received my check in less than 5 minutes. Wachovia just acquired Southtrust bank. Ten months ago Southtrust doubled my existing home equity line of credit and did not charge me anything at all in fees or closing costs (I said I would not agree to any fees). Wachovia has lots of branches in my state of Virginia.
Secured Loan
Author: needaloan
Joined: 11 Jul 2005
Posts: 12
Posted: Mon Aug 22, 2005 9:23 pm Post subject: Secured Loan What popular bank branches offer secured loans, I am having trouble finding one?
Author:CompJock24
Joined: 01 Apr 2005
Posts: 43
Location: Orlando, FL
Posted: Tue Aug 23, 2005 6:33 am Post subject:Secured Loan needaloan, I personally just applied for an used auto loan. On the application it had a check box that asked for which type of loan I was applying for: LOC (line of credit), Unsecured, Secured, or Credit Card. Under the Unsecured check box, it asks for how much I am requesting and for what "Purpose", however, under the Secured check box, it asks for how much I am requesting and what is the "Collateral"! Naturally, because I am taking out a used auto loan, my collateral would be the used car. Why? If I don't pay back my loan, the bank will take the car (reposess) away from me. That's what makes the loan secure - the bank will get something in return if I don't pay them back; as opposed to an unsecured loan (ie, personal loan) the bank has nothing to gain from you if you don't pay them back (hence the higher interest rates many will pay for a personal loan). But then again, I can't confirm this, but I think you might also be able to take out a secured personal loan as well, using your savings assets as your collateral...not 100% on that one though. As far as what popular branches? Wachovia, Bank of America, SunTrust, Banco Popular, Third Fifth Bank, Wells Fargo....but I don't recommend doing this as you'll pay higher interest rates for these bigger "more popular" banks. I suggest joining your local Credit Union. They offer lower rates on all types of loans and best of all, as a member, you have co-ownership of the bank. To find a credit union nearest you, visit the Nations Credit Union Administration (NCUA).
Need Advice On Getting Financially On Track
Author:thejoshua
Joined: 13 Jul 2005
Posts: 12
Posted: Wed Jul 13, 2005 1:41 pm Post subject:Need Advice On Getting Financially On Track After tax income is $1950 after bills I have about $1100 remaining. I have $4000 in the bank and about $200 CC balance. I have bad credit which I'm trying to improve, and only one card with one year of on time payments, no lates. In December I will have an extra $400 per month, after my car is paid off and my rent drops $100 although my bank account will be empty from the car pay off. I am not building credit on the car however because it's not in my name. I'm also starting school part time online at a loca community college, which hopefully will eventually land me a better job. My goal is to buy a condo in the next few years which average about $200k for my area. As for work I run a small service & retail business for an owner here in town. I take care of everything regarding the business. Payroll, inventory, bill paying, interviews etc. etc. Should I be looking for more pay for my experience? Any suggestions onhow to reach my condo goal? Should I be searching for a new job? How can I improve my credit? Any help would be awesome.
Author:Sarasotatony
Joined: 19 Jul 2005
Posts: 37
Location: Tombstone, Arizona
Posted: Wed Jul 20, 2005 9:35 pm Post subject:Need Advice On Getting Financially On Track You are doing a lot better than I was at 22! Don't apply for any new credit for another year or two. Go to each of the three credit bureaus and buy your credit score ($6.95 for Equifax and $5.95 for the other two). Don't sign up for those credit monitoring deals--they are unnecessary. Don't forget: You can now get a free credit report from each of the bureaus. For great advice that helped me build up my credit, go to: www.bankrate.com Type in whatever key words in the search box and you will have all the financial information you need. Also: Tivo or watch the Suze Orman Show on Saturday night (MSNBC) (8:00 pm-10:00 pm eastern). She gives invaluable advice. Good luck!
Author:thejoshua
Joined: 13 Jul 2005
Posts: 12
Posted: Thu Jul 21, 2005 2:58 pm Post subject:Need Advice On Getting Financially On Track I actually just got a circuit city card and bought a TV interest free for two years, hopefull that helps out my credit a bit more.
Author:PFFrank
Joined: 22 Jul 2005
Posts: 5
Posted: Fri Jul 22, 2005 7:15 pm Post subject:Need Advice On Getting Financially On Track thejoshua wrote: I actually just got a circuit city card and bought a TV interest free for two years, hopefull that helps out my credit a bit more. Be VERY careful with this. If there is minimum monthly payment due, DO NOT BE LATE. And, if at all possible, pay off the entire balance before the interest free period is up. You'll have to read the details of the agreement, but usually if you are late with a monthly payment, the "interest-free" turns to 20%+ interest rate. Also, if the entire amount financed is not paid off by the end of the two years, they then tack on ALL THE ACCUMULATING INTEREST OVER THE LAST TWO YEARS. So, please, please, PLEASE be careful and pay off the balance sooner than later. _________________ PFFrank.com Personal Finance, Frankly Speaking
Author:Board Monitor
Board Monitor/ Administrator
Joined: 05 May 2003
Posts: 1148
Posted: Sun Jul 24, 2005 9:52 am Post subject:Need Advice On Getting Financially On Track Good tip and welcome to the board PFFrank! I just checked out your site and it look interesting. Tell us about your site/background. By the way, feel free to use some of our credit education articles on your site: http://www.cardratings.com/freepersonalfinancecontent.html _________________ Best Regards, Curtis Arnold Board Monitor http://www.cardratings.com (501) 663-0314 Sign up for our free monthly e-mail newsletter!
Author:thejoshua
Joined: 13 Jul 2005
Posts: 12
Posted: Tue Jul 26, 2005 10:41 am Post subject:Need Advice On Getting Financially On Track Thanks Frank I have the cash to pay it off now, I just wanted to use it to build more credit. How many months do you think I should wait? I was thinking to break the payments into one year. Sound good?
Author:Sarasotatony
Joined: 19 Jul 2005
Posts: 37
Location: Tombstone, Arizona
Posted: Thu Jul 28, 2005 12:42 am Post subject: Need Advice On Getting Financially On Track I would pay it off in several large payments, say in three or four months. The sooner it is paid off, the faster your score will go up--although it sometimes takes 30-60 days for the new score to be adjusted after your payments are received.
Author:PFFrank
Joined: 22 Jul 2005
Posts: 5
Posted: Thu Jul 28, 2005 1:35 pm Post subject:Need Advice On Getting Financially On Track Board Monitor wrote: Good tip and welcome to the board PFFrank! I just checked out your site and it look interesting. Tell us about your site/background. By the way, feel free to use some of our credit education articles on your site: http://www.cardratings.com/freepersonalfinancecontent.html Thanks, I'll definitely use some of your articles on our site. The website started out as a little hobby, and has turned into a pretty good resource for people (so they tell me). I was always so frustrated with the internet and it's lack of a "centralized" location for personal finance information. I decided to come up with an easy to read/navigate "portal" for pf, and it's been getting some really good feedback. _________________ PFFrank.com Personal Finance, Frankly Speaking
Author:Board Monitor
Board Monitor/ Administrator
Joined: 05 May 2003
Posts: 1148
Posted: Fri Jul 29, 2005 8:50 am Post subject:Need Advice On Getting Financially On Track Neat! What is your background? _________________ Best Regards, Curtis Arnold Board Monitor http://www.cardratings.com (501) 663-0314 Sign up for our free monthly e-mail newsletter!
Author:sungod916
Joined: 19 Mar 2005
Posts: 26
Location: Sacramento, CA
Posted: Tue Aug 23, 2005 8:01 pm Post subject:Need Advice On Getting Financially On Track Gosh, I love this site!
Author:Board Monitor
Board Monitor/ Administrator
Joined: 05 May 2003
Posts: 1148
Posted: Wed Aug 24, 2005 8:02 am Post subject:Need Advice On Getting Financially On Track Glad to hear that! Out of curiosity, how did you find out about us? _________________ Best Regards, Curtis Arnold Board Monitor http://www.cardratings.com (501) 663-0314 Sign up for our free monthly e-mail newsletter!
Author:sungod916
Joined: 19 Mar 2005
Posts: 26
Location: Sacramento, CA
Posted: Wed Aug 24, 2005 9:39 pm Post subject:Need Advice On Getting Financially On Track Me? I believe I typed in "Credit Card Forum" on Yahoo!
Author:astounding
Joined: 04 Sep 2005
Posts: 12
Posted: Sun Sep 04, 2005 11:54 am Post subject:Need Advice On Getting Financially On Track thejoshua, When I was 19, I started with nothing but 2 ultimate financial management ideas, I heard from a great guru: 1) Create a Excel Spreadsheet with 12 months of the year. Then record every single expense in the spreadsheet. Record the date, description and amount. Here's the best, most accurate template example you'll see: http://www.astoundinginc.com/temp/statement.gif 2) Despite your current financial position, apply the 10% save rule. That's right. You can actually already live well on far less income than you use up now for general living. Every salary, or income you generate -- take 10% off that and put it in a bank like ING. == It's been 2 years now, and I'm gliding along terrific with 2 of my self-started direct mail businesses. All as a result of 2 above points! Best of the best, Andre Vas Mr. Problem Solver _________________ Here's a GREAT FREE resource with everything you'll EVER need to know about credit/debt management, credit cards, and applying for the BEST one: => http://www.Direct-Credit-Card.com/articles.php
Author:jesse
Joined: 05 Sep 2005
Posts: 2
Posted: Mon Sep 05, 2005 9:13 pm Post subject:Need Advice On Getting Financially On Track Hi, I recommend bringing a broader perspective into your strategy. Check out the ebook, The Science of Getting Rich by Wallace D. Wattles. You can find it in many places and many forms on the web. Now there's a study guide for it that is SUPER helpful. It will completely change the way you're thinking about all this. You can find out more about it at http;//www.thescienceofgettingrich.com Hope this helps, Jesse
Best Deals On Auto Insurance
Author: diddlydudette
Joined: 17 Jul 2005
Posts: 56
Posted: Fri Aug 19, 2005 10:40 pm Post subject: Best Deals On Auto InsuranceI did earlier this year. I used to have State Farm for years until I found Allstate to have a lower premium. I was also able to get Allstate's road service and still be below what State Farm was charging. Who did you find to be cheapest and are you happy with service?
Author:Board Monitor
Board Monitor/ Administrator
Joined: 05 May 2003
Posts: 1148
Posted: Sat Aug 20, 2005 10:11 am Post subject:Best Deals On Auto Insurance We use Shelter, but should shop around. How much are you paying if you don't mind me asking? _________________ Best Regards, Curtis Arnold Board Monitor http://www.cardratings.com (501) 663-0314 Sign up for our free monthly e-mail newsletter!
Author: diddlydudette
Joined: 17 Jul 2005
Posts: 56
Posted: Tue Aug 23, 2005 9:33 am Post subject:Best Deals On Auto Insurance Well, I used to pay 344.00 every 6 months with State Farm and then I changed to Allstate with same deductibles, same coverage and now pay 255.00 every six months and that includes the Allstate Road Service. So I'm thinking I'm savings couple hundred a year....not too shabby. I'm a true believe in shopping around and saving money.
Author: sungod916
Joined: 19 Mar 2005
Posts: 26
Location: Sacramento, CA
Posted: Tue Aug 23, 2005 8:05 pm Post subject:Best Deals On Auto Insurance Shooot. I was offered a 6mo policy @ $193 a month with Mercury at renewal. After being overcharged for so long I checked out 21st Century. They offered me a 6mo policy for 4 payments of $178. Plus I actually increased my coverage from Mercury. I was at the bare minimum for CA plus comp & collision ($500 ded.) EDIT: I am a male, 24 years old with a newly clean record (had 2 minor tickets that fell off).
Author: consumercity
Joined: 10 Nov 2004
Posts: 156
Location: Cincinnati, OH
Posted: Tue Aug 30, 2005 3:00 pm Post subject:Best Deals On Auto Insurance I hope this isn't off topic but a lot of people think going through companies that sell direct (Geico, Progressive, etc) are cheaper than going through an agent. That's not always the case. It is best to get quotes from both independent and captive agents too. I wrote an article about how to save money on car insurance. To read it, click here. _________________ Consumer City.org
Author: Board Monitor
Board Monitor/ Administrator
Joined: 05 May 2003
Posts: 1148
Posted: Wed Aug 31, 2005 5:15 pm Post subject:Best Deals On Auto Insurance City, Interesting. Do you think there is any benefit if you stay loyal to one particular company/agent for several years? _________________ Best Regards, Curtis Arnold Board Monitor http://www.cardratings.com (501) 663-0314 Sign up for our free monthly e-mail newsletter!
Author: capepuffin
Joined: 09 Nov 2003
Posts: 110
Location: Cape Cod, MA
Posted: Sun Sep 04, 2005 11:45 pm Post subject:Best Deals On Auto Insurance Don't move to Massachusetts!! We do not have the option of many/any insurance companies because they will not write polocies in our state. So we get stuck paying $$$$$! I just sent out my Sept payment for my Jeep and it was $370! I have a perfect driving record too! I did just remove my 20 yr old daughter from the polocy yesterday because it is just too expensive plus she is back in college now.
Author:Ira
SENIOR MEMBER (Member for 2 yrs.+)
Joined: 19 May 2003
Posts: 1153
Location: NJ
Posted: Mon Sep 05, 2005 4:24 am Post subject:Best Deals On Auto Insurance I always shop around for virtually everything. I have been with Geico ever since they reentered the New Jersey market. They are consistently well below the market. I am a member of several groups which have negotiated lower rates with major insurers and Geico is still considerably below even the negotiated discounted rates. For my 2004 Taurus with full collision I am paying $425.00 every six months. I had a minor billing problem when I switched cars a few months ago, but it was quickly cleared up. Thankfully I cannot comment on their claims service. _________________ Do not let what you cannot do interfere with what you can do. Ira Last edited by Ira on Tue Sep 06, 2005 10:47 pm; edited 1 time in total
Author:Board Monitor
Board Monitor/ Administrator
Joined: 05 May 2003
Posts: 1148
Posted: Mon Sep 05, 2005 8:51 am Post subject:Best Deals On Auto Insurance Ira, Interesting. How much of a savings did you realize with Geico? They claim up to 15%. I know they spend A LOT of $$$ on advertising, though. _________________ Best Regards, Curtis Arnold Board Monitor http://www.cardratings.com (501) 663-0314 Sign up for our free monthly e-mail newsletter!
Author:Ira
SENIOR MEMBER (Member for 2 yrs.+)
Joined: 19 May 2003
Posts: 1153
Location: NJ
Posted: Tue Sep 06, 2005 10:54 pm Post subject:Best Deals On Auto Insurance As far as I'm concerned their ads are at best conservative. I have saved closer to 25% off the next lowest rates. Geico is a full 100% below my previous insurer, AIG, but they tried to rape me for a minor fender bender which I didn't even want to report. They sent me a check for about $575.00 which I tried to give back to prevent a rate increase. They said my rate had nothing to do with my keeping or returning the money, so I kept it. My rate more than doubled from $450.00 to over $900.00 per six months. I love Geico!! _________________ Do not let what you cannot do interfere with what you can do. Ira
Author:Board Monitor
Board Monitor/ Administrator
Joined: 05 May 2003
Posts: 1148
Posted: Wed Sep 07, 2005 9:58 am Post subject:Best Deals On Auto Insurance Interesting. Did you get your rate quote from Geico online? If so, how long did it take to get the quote? Finally, do they offer home owner's insurance? We get a discount for having auto and home insurance with the same company. _________________ Best Regards, Curtis Arnold Board Monitor http://www.cardratings.com (501) 663-0314 Sign up for our free monthly e-mail newsletter!
Author:Ira
SENIOR MEMBER (Member for 2 yrs.+)
Joined: 19 May 2003
Posts: 1153
Location: NJ
Posted: Fri Sep 09, 2005 1:20 am Post subject:Best Deals On Auto Insurance I have yet to speak with anyone at Geico. I did everything online. Yes, I also have their homeowner's insurance which, like everyone else in the industry, gets me a discount on both policies. I got my rate quote immediately. Almost as soon as I finished filling out the application. _________________ Do not let what you cannot do interfere with what you can do. Ira
Author:hesiden
Joined: 14 Jan 2005
Posts: 88
Posted: Fri Sep 09, 2005 8:30 am Post subject:Best Deals On Auto Insurance I had State Farm for years because my parents set me up with them on auto while I was in college. They were ripping me off big time. I had home, auto and universal life with them for years. I gave them a chance to match what I found online, but they couldn't even come close. For example, I cashed out a 100K universal life policy for a 20 year 500K term life. Online I got a quote for 30/month. State Farm wanted 70/month and of course they kept pushing the universal life. For less money I got 5 times the coverage. Won't need life insurance 20 years from now. Home will be paid off kids should be...well half way thru college (I hope). My home insurance went way up one year and I called and tried to get them to reduce the coverage because it was way over estimated value. They said they could not do it, replacment value, blah blah. I might have to give Geico a try. Do they pull a hard inquiry? Currently with Progressive, and happy with the service. Had an accident (not my fault) just a few days after the policy started and didn't have any problems beyond being so new I wasn't fully in the system yet. I can't stress shopping around enough.
Author:Ira
SENIOR MEMBER (Member for 2 yrs.+)
Joined: 19 May 2003
Posts: 1153
Location: NJ
Posted: Fri Sep 09, 2005 2:06 pm Post subject:Best Deals On Auto Insurance Quote: I might have to give Geico a try. Do they pull a hard inquiry? What difference would it make? If the rates are so far below everyone elses, damn the torpedoes, full speed ahead, fill out the application, and do it now! Do not become a credit score junkie. Use your credit wisely and you'll find that everything else will simply fall into place. I've seen people emotionally unwilling or unable to apply for new credit which they need, want, and deserve because they were afraid of what the inquiry would do to their score. That's nonsense. Forget the implications to your score; concentrate on the implications to your wallet. _________________ Do not let what you cannot do interfere with what you can do. Ira
Low Income Mortgages
Author: gacreditbuilder
Joined: 07 Feb 2005
Posts: 28
Posted: Sat May 07, 2005 7:50 pm Post subject: Low Income Mortgages Is there any way for someone only making around 18K a year to get a mortgage without a big down payment? I would like to purchase about an 80-90k dollar house to rent out. My only bill is my car insurance, so I could afford to pay the mortgage myself during times when it's vacant. How can I get lenders to take a chance?
Author: CreditCardGuru
Joined: 20 Apr 2005
Posts: 394
Location: Durham, North Carolina
Posted: Sun May 08, 2005 2:10 am Post subject:Low Income Mortgages There are programs to help people...I had a friend on disability get a mortgage and her income was about 16,000 a year. src="http://pagead2.googlesyndication.com/pagead/show_ads.js"> _________________ I'm the Credit Card Guru, YOU BET
Author: Board Monitor
Board Monitor/ Administrator
Joined: 05 May 2003
Posts: 1148
Posted: Sun May 08, 2005 8:03 am Post subject:Low Income Mortgages From what I understand these programs are usually not available for investment purposes (i.e. for rental property). _________________ Best Regards, Curtis Arnold Board Monitor http://www.cardratings.com (501) 663-0314 Sign up for our free monthly e-mail newsletter!
Author:CreditCardGuru
Joined: 20 Apr 2005
Posts: 394
Location: Durham, North Carolina
Posted: Mon May 09, 2005 12:16 am Post subject:Low Income Mortgages There is the old rule, what one doesn't know, won't hurt....don't let them know....LOL. I know here a lot of people get foreclosed houses really cheap. _________________ I'm the Credit Card Guru, YOU BET
Author:homebuyer
Joined: 03 May 2005
Posts: 5
Posted: Thu May 12, 2005 12:00 pm Post subject:Low Income Mortgages CreditCardGuru wrote: There is the old rule, what one doesn't know, won't hurt....don't let them know....LOL. I know here a lot of people get foreclosed houses really cheap. The problem with that is if you have a tenant you need to evict for any reason, I don't think you would have legal recourse to collect back rent from them or anything if you are renting out illegally. If you turn them in for trashing your house or leaving without paying their rent, you will also be getting yourself in legal trouble for having a tenant in a home being financed by FHA or other types of loans that don't allow income properties. So if you do rent out your new home illegally you will be screwing yourself in the end if something should happen.
Author:Board Monitor
Board Monitor/ Administrator
Joined: 05 May 2003
Posts: 1148
Posted: Fri May 13, 2005 9:16 am Post subject:Low Income Mortgages Good post. Funny how our legal system works! _________________ Best Regards, Curtis Arnold Board Monitor http://www.cardratings.com (501) 663-0314 Sign up for our free monthly e-mail newsletter!
Author:homebuyer
Joined: 03 May 2005
Posts: 5
Posted: Fri May 13, 2005 6:19 pm Post subject:Low Income Mortgages Board Monitor wrote: Good post. Funny how our legal system works! Thanks! Reminds me the a story I read about two prostitutes that went into a local police station to report that one of their "Johns" wrote them a bad check. They got arrested for prostitution and never recovered the money "owed" to them because the law won't settle an illegal dispute. *LOL*
Author:sungod916
Joined: 19 Mar 2005
Posts: 26
Location: Sacramento, CA
Posted: Sat May 14, 2005 4:26 am Post subject:Low Income Mortgages Ok, do you want to read a real stupid criminal article? This is from the Sacramento Bee in my area. "Stolen car leads to 3 arrests in Roseville" By Art Campos -- Bee Staff Writer Published 2:15 am PDT Sunday, May 8, 2005 A suspected car thief's desire to upgrade from a stolen Honda to a Cadillac touched off events that led to three men being arrested in Roseville last week. Two of the men were taken into custody when they showed up at the police station to reclaim the Honda and were found to have outstanding warrants for their arrests. In addition, they were carrying drugs in their pockets, police said. The incidents began at 6:30 a.m. May 1, when a witness called police to report a man breaking into a Cadillac in the parking lot near Parker's Hot Dogs at 1605 Douglas Blvd., said Dee Dee Gunther, a police spokeswoman. Police arrived and were forced to subdue the suspect with a Taser gun and pepper balls, Gunther said. Dale Sayne, 40, of Sacramento was booked into the Placer County jail on suspicion of attempted vehicle theft, battery on a police officer, resisting arrest, burglary, possessing burglary tools and being under the influence of drugs, she said. Police said Sayne had driven to the parking lot in a stolen Honda. That car was traced to owner Justin John Shellhorn, 26, of Citrus Heights, who was wanted on felony warrants for probation violation in Yuba City and auto theft in Sacramento, Gunther said. Shellhorn also was wanted on misdemeanor traffic warrants, she said. Officers invited Shellhorn to pick up his vehicle at the police station, Gunther said, and on Thursday, he showed up, having gotten a ride from a friend. Shellhorn was promptly arrested, she said. During booking, police found marijuana, suspected methamphetamine and drug paraphernalia on Shellhorn, leading to additional counts, she said. Police then went out to the parking lot and talked to the man who'd given Shellhorn a ride, Gunther said. They discovered that Daniel Paul Morrison, 27, of Lincoln had three misdemeanor traffic warrants in Sacramento County for his arrest, she said. He, too, was carrying marijuana, suspected methamphetamine and drug paraphernalia, Gunther said. In addition, he was driving on a suspended license, she said. Morrison was booked and released on a promise to appear, she said. http://www.sacbee.com/content/community_news/roseville/story/12852022p-13701583c.html
Author:opmatt
Joined: 18 May 2005
Posts: 5
Location: Kirkland Wa
Posted: Wed May 18, 2005 3:47 pm Post subject:Low Income Mortgages CreditCardGuru wrote: The problem with that is if you have a tenant you need to evict for any reason, I don't think you would have legal recourse to collect back rent from them or anything if you are renting out illegally. If you turn them in for trashing your house or leaving without paying their rent, you will also be getting yourself in legal trouble for having a tenant in a home being financed by FHA or other types of loans that don't allow income properties. The status of the loan (investment property vs. owner occupied) shouldn't have any effect on your ability to take your tenant to court in the event that you had to evict them and collect back rent. That's what the lease agreement would be used for in court. I'm not a legal expert but I highly doubt that the court would base their decision on the occupancy status of your mortgage; it's simply a matter of a tenant not paying rent. Here's your escape: say you bought a house with the intention of living in it but after the loan closed (because of life changes) you decided to rent it out. You're not required to refinance your home just because you've decided to rent it. Creditbuilder, you shouldn't have a problem getting a loan for a house with little or no money down. Debt vs. Income, you wouldn't qualify so you would have to have a stated income loan. You can get 100% financing but your middle credit score will have to be about 720+. (There are a few other ways to do this even if your cs is <720.)
Author:homebuyer
Joined: 03 May 2005
Posts: 5
Posted: Wed May 18, 2005 7:35 pm Post subject:Low Income Mortgages opmatt: And I wrote that thing about it being illegal, not creditcardguru....
Author:opmatt
Joined: 18 May 2005
Posts: 5
Location: Kirkland Wa
Posted: Wed May 18, 2005 8:00 pm Post subject:Low Income Mortgages Cut and paste error, my fault.
Author:CreditCardGuru
Joined: 20 Apr 2005
Posts: 394
Location: Durham, North Carolina
Posted: Wed May 18, 2005 8:16 pm Post subject:Low Income Mortgages I never said it wasn't illegal, but people do it anyways, that's all I was saying. And there are other low income things besides FHA.....LOL. _________________ I'm the Credit Card Guru, YOU BET
Author:homebuyer
Joined: 03 May 2005
Posts: 5
Posted: Thu May 19, 2005 6:09 pm Post subject:Low Income Mortgages CreditCardGuru wrote: I never said it wasn't illegal, but people do it anyways, that's all I was saying. And there are other low income things besides FHA.....LOL. I know that but FHA is the only loan I am familiar with. But I would bet most all of those type of low income loans do not allow income properties.
Author:Sarasotatony
Joined: 19 Jul 2005
Posts: 37
Location: Tombstone, Arizona
Posted: Tue Jul 19, 2005 7:49 pm Post subject:Low Income MortgagesSomeone may wish to verify this, but I once heard that the lender would require proof (a track record) that the house would rent for a particular amount per month before they would loan on the property. Otherwise, you could claim that you could rent it for $1,500 a month, while it really would only rent for $700.
Author:BestMortgageInfo
Joined: 16 Mar 2005
Posts: 25
Location: Utah
Posted: Fri Sep 09, 2005 4:13 pm Post subject:Low Income Mortgages What happens is that the appraisal is a 2 part deal. 1) Normal value of the home 2) "Market rent analysis" which determines the rental value of the home. For a lot of lenders, even if you are not currently getting that much rent, they go by the figure in the rent analysis Charles _________________ Charles Clark www.bestmortgageinfo.com
Information Needed On Obtaining A Student Loan
Author: thejoshua Joined: 13 Jul 2005 Posts: 12 Posted: Thu Sep 08, 2005 4:48 pm Post subject:Information Needed On Obtaining A Student Loan I am not considered an independant student , it's up to me to pay for school, no mommy and daddy. My question was really, how likely it will be that I get approved for a loan. I had a charge off a couple years back, that I have paid now in full as of Feb 2004. I have a BOA CC that I've had for a year with no lates, and one circuit city card that I've had only for one month. The toal year cost of the school would be $15,050, so I would need a loan of approximately $10k. How likely is it I would get approved? I would greatly appreciate any help you could give me. ------------------------------------------------------------------------------------- Author: lawyer2be371 Joined: 10 Nov 2004 Posts: 135 Location: Milwaukee, Wisconsin Posted: Thu Sep 08, 2005 6:40 pm Post subject:Information Needed On Obtaining A Student Loan Do you mean you are an independent student? What state do you go to school in? Do you currently live there? What level are you, Freshman, etc... Are you undergraduate or graduate? Do you have Stafford Loans? Or Perkins Loans? Are you currently working, if so, have you been at your job more than two years? Lastly what is the name of the school you will be attending ------------------------------------------------------------------------------------- Author: thejoshua Joined: 13 Jul 2005 Posts: 12 Posted: Thu Sep 08, 2005 6:47 pm Post subject:Information Needed On Obtaining A Student Loan What I meant was I'm a dependant, even though I receive no help from my parents, because I'm not 24. The school is the aveda institute, it's in Charlotte NC. I am a resident but for the school it doesn't matter. The loan offered for the school is a sallie mae trade school loan. I am working but have only been at my current job 7 months, my last job was 3.5 years. ------------------------------------------------------------------------------------- Author: lawyer2be371 Joined: 10 Nov 2004 Posts: 135 Location: Milwaukee, Wisconsin Posted: Thu Sep 08, 2005 7:14 pm Post subject:Information Needed On Obtaining A Student Loan When you say that you recieve no help from your parents, what exactly does that mean.. When you did your FAFSA, did you or did you not supply your parents tax return information... And if so based on that information did they tell you that you were not eligible for any governmental loan program, or does the school you attend not participate in the gov student loan program. The loan that you stated the school has, have you already applied, and been turned down, or are you asking what our your odds of being approved for that particular loan ------------------------------------------------------------------------------------- Author: thejoshua Joined: 13 Jul 2005 Posts: 12 Posted: Thu Sep 08, 2005 9:03 pm Post subject:Information Needed On Obtaining A Student Loan I'm trying to see if I have a shot at getting it. I have to use my parents info on my fafsa app. They however don't help me at all, with mine and there income I don't qualify. ------------------------------------------------------------------------------------- Author: lawyer2be371 Joined: 10 Nov 2004 Posts: 135 Location: Milwaukee, Wisconsin Posted: Thu Sep 08, 2005 9:27 pm Post subject:Information Needed On Obtaining A Student Loan Well, If you could get your parents to cosign, the loan you might be able to get it Sallie Mae for the most part requires a cosigner, regardless to how good your credit is..... ------------------------------------------------------------------------------------- Author: girlie Joined: 25 Aug 2005 Posts: 21 Posted: Thu Sep 08, 2005 10:49 pm Post subject:Information Needed On Obtaining A Student Loan You might try calling the FASFA people (I had to call once its actually quite easy to get through and they are very helpful). Maybe there is some way you can appeal that rule. I have heard of other students appealing things like academic probation (not me because I am a total geek when it comes to school) and ending up with loans they were originally told they wouldnt get. Its just a matter of finding the loop hole, filling out the the right papers and jumping through their hoops. Maybe they have forms or something you can submit as proof that you completly support yourself. Secondly if you havent had your parents fill out the FASFA with you as a dependent, you should try. The worse thing they can say is no. If your parents have a lot of assets and make a lot of money you probably wont get grants but you have to make some serious boat loads of money before you wont get federal student loans. I have heard of plenty of people not getting grants because of too much income - but loans are different. Cindy ------------------------------------------------------------------------------------- Author: thejoshua Joined: 13 Jul 2005 Posts: 12 Posted: Fri Sep 09, 2005 8:20 am Post subject:Information Needed On Obtaining A Student Loan Getting them to co sign will not happen. I've already tried to do the fafsa as independant, I talked with fafsa and school, they basically said too bad. My parents have no money to begin with, they are military, I haven't had help from them for years. ------------------------------------------------------------------------------------- Author: ladybug23 Joined: 10 Sep 2005 Posts: 1 Posted: Sat Sep 10, 2005 2:09 pm Post subject:Information Needed On Obtaining A Student Loan Hello -- I was in this same situation when I was first starting out. I was technically a dependent but receiving no support from parents. I guess in this scenario, your only option from the Feds in is a PLUS loan (loan your parents take out). I was able to get around this by having my mom's bank provide a letter saying that they would not approve her for a PLUS loan. Once it was demonstrated that my parents couldn't get a PLUS loan, I was able to take out the loans myself. This was at major state university. I remember working with a school financial aid officer on this, so I would touch base with them to see if this would work. Good luck!
|
