I am currently in a bad financial situation. I have terrible credit and can’t even get approved for a new credit card. My monthly payments on my car and credit cards are too much for me to handle. Recently, I have even been having trouble making my mortgage payment. The sad thing is that my mortgage payment is currently only $ 900. I currently owe $ 12,000 on my mortgage and my house is worth anywhere between $ 600,000 and $ 800,000.
I want an equity loan of $ 100,000. I will use this money to pay off all other debt and help fund my son’s college education. I do have steady income and will have no problem making the payment on this loan.
Are there any good company’s that will finance my loan? I am afraid that if I apply to too many places I will ruin my chances of getting the loan because I know that each failed application has a adverse affect on my credit score. Any help is appreciated.
My husband makes money good enough and we are trying to restore our credit by making payments on a car. Most things on our credit reports are credit cards for old, had minor limitations and medical bills. We live in a mobile home right now that is a purchase for the program, but the lender closed and sold to another company and they say they know nothing about it. The real credit is the sister of my husband’s name, but we all payments and even taxes every year after. We also provide insurance for them. I do not know if a lender would look at home this information when we try to appy for a mortgage? We also considered possibly owner financing homes, but we want to live in a rural area and have some size and I do not know if many people their homes like this in these areas are for sale? I hope someone can help me.
Basically, my mother wants to get into another house soon. She has 30 years of credit history, and I am well seasoned in the mine, but an attempt to help check things to an end by their credit score. I read all the appearance of “types” of credit scores. Apparently each credit reporting agency has its own version of a credit score. I also heard myFICO, the status of many probably close to what would be a mortgage company pull ist.So we verified that she and her myFICO 719.Menschenwürdige was enough to get a mortgage? What is negative is its debt ratio of credit (credit limits are not as high as they could be, and the cards have high balances). There is also “late payment” next to a Honda Finance, from 2002. He says once … more than 90 days late. Basically, she helped her brother who is suffering (which they never do for anyone who knows) to obtain a vehicle. He and my mother and her own mother does not appear that should have a brother, all payments each month for the car so it got repo’d. Apparently it is to fall in December 2009.Allerdings is a mortgage in his name for a very long time, and paid on time every time. Thus, all other credit cards. What are the chances of its ever a mortgage?
We went through credit counseling about 8 years ago and paid off all our credit cards. Since then I have established credit with 3 companies and have always paid on time. If I have good credit but my husband doesn’t use credit cards will it affect us negatively if, say, we wanted to refinance our house? We financed a car last year and the salesman said we had really good credit, but my husband says car dealerships don’t look at our credit score the same way a mortgage company does.
I’ am a 22 year old Man stuck between a rock and a hard place
Here is my story
for the past two years I have been taking care of my terminally ill mother and my two teen younger sisters.I have tried time and time again to apply at random places on the base fast-food places construction ,cashier ,even as a janitor nobody has even had the courtesy to call me and let me know I didn’t get the job but it has been a struggle with raising teens and a mom who needs bed rest most the day is very hard .and to make matters worse My girlfriend got kicked out of her house ,and I just found out two days ago we were all getting evicted by the 12 of feb. due to the landlord not paying his mortgage so
I seriously need a job to take care of self my girl and sisters. My mother was given a little over a year left …I don’t know what to do ,and I don’t know if MACC project would help me because I’m already an adult ,but If there is anyone out there who cares and could let me know what I could do or if you could help please do
oh and I live in San Diego county ,National city Ca, 91950
Thank you …
I also forgot to mention that I have no credit cards or any money of any kind.
I don’t even have a car so please any information is helpful.
So I purchased an income restricted property in 2006.(It means you have to make under a certain amount to buy in this case $ 47K for family of 1 or $ 51K for family of 3)
We moved about 6 months ago because my husband received military orders and we had to relocate for school. We now have no intentions of going back. The house has been on the market since and we finally have an offer from someone that qualifies to buy.(remember income restriction) But unless we bring over $ 22K in cash to pay the difference we can’t close. (we don’t have $ 22K, we would have to go in debt via credit cards and don’t really like that idea.)
On top of that we are competing with new builds in the same neighborhood that are going for $ 170,000. And the city offering $ 40K back on certain properties to keep the value up. (Example $ 130K property +$ 40K back = buyer paying $ 90K leaving property value @ $ 130K.
In order for us to break even we have to sell for $ 185,000.(the offer was for $ 170,000 which after commission and paying the difference leaves us at negative $ 22K.
I don’t want to hear about us being irresponsible if we walk away. We had a fixed rate mortgage and have not missed a payment so far. The property was within our means at the time but is no longer since we relocated and have had to float rent along with other household expenses in addition to the mortgage. We’ve spent about $ 10K keeping the house on the market, and we’re out of funds.
I guess I just want to know what the consequences are of a foreclosure? Can they come after us for anything? Would it be a situation where we would have to pay even more than 20K out of pocket? Does anyone have any other suggestions of options? And also if you think we should just foreclose.
Oh yeah a little more about us:
Because of the income restrictions there are rules against renting the property out.
We have no intentions of buying for a very long time. After this experience we decided not to buy anything unless we can pay it in full out-right.
We are currently renting and will be relocating in less than a year. Then possibly relocating again a year after that. (not by choice but by military orders)
We are a single income family. We have a toddler and an infant, it wouldn’t make sense for me to return to work because we would have to pay for child care. And most importantly my #1 priority is to take care of my kids right now, I didn’t have kids to let someone else raise them. If they were school age it would be different because I could work while they were in school. So please don’t question my work ethics. I grew up in a household where both of my parents worked 2 jobs and the end result was not good. I’m not willing to trade my kids to finance a place I no longer live in or even care for. You can call it a priority in family ethics.
me and my wife had decent credit then katrina hit we fell behind on everything mortgage credit cards she lost her job we had to move to west virginia for two months put the kids in school we had no power here 3 yrs later we caught up the mortgage but we lost one of my cars had no choice if i would have had damage or lost my house i would have been able to get all the loans there was no help for people who just lost income and had to relocate for a short while is there anything i could do me and my wifes credit scores are in the 500s 525,540 i have 75,000 equity in my house but nobody will give me a look because of score default mortgage on rental trailer its a shame we did everything right and now its going to take years to get our scores back up any advice web sites mortgage companies that might help
About a year ago my husband opened a checking account with a large bank. He had me go to the bank a few weeks later and do a signature card so that I could cash my child support checks there. I never really did that though. The check cashing place was closer and they only charged $ 2 for the child support checks. I never used the account. I was just on it. Some how he over drew or what ever you call it and now it says he owes them over $ 700! I had nothing to do with it, but I’m afraid to go open an account of my own somewhere, by myself only because I’m afraid they will try to collect it from me and I don’t have that. I just don’t know what to do. I don’t know why the thing was overdrawn and he says he doesn’t either. But I don’t know how to go about getting my own account somewhere even if it is just a savings account which for me would be ok anyway because I don’t really write checks for anything. I always use money orders. I don’t trust banks really but you can’t do anything without a bank account. My son asked me if I wanted to go into a savings account with him but now I would be so embarrassed if it showed up that I am a bad risk or something. I am in my 40s and have paid cash for everything my entire life. No credit cards, loans, or even a mortgage ever. Now what. I just want a place to put my money when I get it to save. Thank you
Where can I find a mortgage company that will pay off my old mortgage. Then let me buy a new doublewide to put on this property. But also let me refinance my automobile and credit card debt all into one monthly fixed rate of thirty years. Is it possible to finance your auto loan in with your mortgage???????
I have a house on this property the old home place ok house, but has no block foundation under it so basicly worth nothing but on the other half of the acre I want to put a house. This is a one acre lot in total with a five year old new vinyl sided garage. I owe $ 11,000.00 on the entire 1 acre.I want to refinance the 11,000. plus borrow enough to pay off my truck and buy a new home and would be nice to pay all my credit cards off and enought to put my power service in and build two porches on the new house. Comes up figuring tight to about $ 100,000. dollars. Will they go that kinda loan anyone??????