Hello everyone, recently completed a short sale and now Greentree is wanting money from the shortage. They were the 2nd on the loan and were shorted $54,000.00 but are willing to accept cash payment of $13,500.00 which is a respectable offer and I would like to pay that more than ever. I elected to move back in to my rental property during the short sale process,which I am grateful to have had that option. Now the property in which my family and I reside has a tax assessed value of $186,500.00 and I currently owe $140,000.00, and I cannot find ANY lender willing to loan me $13,500.00 because I missed 12 payments in a row (on the house that I had to short sale)during the short sale process. Does anyone have any suggestions???Â
Jan 152011
So, this is a weird situation. Many many years ago (early 90s) I had an AMEX that was cancelled due to non-payment (college student, stupid, etc.). I left the country for a long time and have recently returned, but since I was gone for so long, my credit report shows that my oldest account was opened 10 months ago (BofA secured – $ 3k limit).
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I have a mortgage with Wells Fargo (not yet reporting), an auto loan with Toyota Motor Credit (could have paid cash, but wanted to build my history), the BofA secured Visa, and a store card (Spiegel). All accounts are in good standing, no lates, with a credit utilization of 4%.
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My scores as of today are:
TU – 690 (8 inquiries)
EQ – 692 (6 inquiries)
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Most of the inquiries are related to obtaining a mortgage, though some are also from setting up life in the US (cellphone, utilities, etc.).
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I’d like to be able to get back in with AMEX for various reasons, not least of which is that if approved, I might be able to get my account re-aged to the initial account’s opening date. I know I’m most probably on their blacklist. I haven’t heard from them in over 15 years and have no idea what the balance is.Â
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What is my best course of action? Do I apply for a card and then appeal/ask for Oasis when declined? Or do I call them directly, explain the situation, pay my outstanding balance and hope they approve me for a new card? Is there any hope for approval (after paying off the old debt) with my current credit profile?
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I am going to ask another question regarding which CC should I add to my credit card profile to add to my rewards. I have excellent credit, pay my balance in full each month, and I use my CC to pay for everything I can to rack up points/miles etc.
I am at a point where I want to increase my points and miles so there are some options. The question is, what is too much. I basically share a VISA with my wife, and have an older VISA that i keep. I realize that you should keep older credit cards for history. I want to add at least one AM/EX either the Starwood points, or the Delta Miles. I also might switch our Cap1 card to the signature to get 2 points for every $ 1 spent, instead of 1.25 for $ 1. That is a new card, not a switch. And recently, I have received letters for UNITED miles (20,000 bonus) and AA Miles (21,000 Bonus). I would love to use those just to add to my miles on those flights. Could I add 3-4 cards without hurting my excellent credit? I will not rack up debt.
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Sep 152010
I’ve been working to clean up & build up my credit. I’m in a bad situation and need to get my own place soon. I want to buy a house and now is definitely the market for buying, but my combined score averages out to 603 and I need to be at 620. I have 2 more derog items (both are cc’s) left and they are due to drop off in Nov & Dec. When they drop I will be left with one cc that is good but is only 9 mths old. Will my score drop because of the short time of credit history on that card?
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Sep 062010
OK here’s my question. According to FICO Score Summary my Lenght of Credit History is VERY GOOD Average of 7 years, Oldest account was openned 17yrs ago. When I check the tab Understanding your Score under What’s hurting your score: The last thing was I have a Short Credit History – Average of 7 years. I’m so confused, please help. Thanks
I have a house in a rural area of Pennsylvania. I work for the Army and will never be returning to the area where the house is located. I have had it on the market for about 9 months and recently got an offer. I owe $52,000 on the house, the offer was for $40,000. I will likely counter offer but it will still leave me a bit short. Best case scenario I am looking at losing about $8,000 with the commission,etc simply to be able to walk away from the table at closing. I am losing money on this house and would like to get rid of it. It was appraised for $57,000 before I purchased it in 2005, so I have been paying PMI on it. I have it financed through my credit union. What would you recommend in my position? Would a short sale even be an option? Would the private mortgage insurance help with a short sale? I know it will impact my credit but I would save about $800 a month with mortgage payment and paying for utilities by getting rid of it. Thank you.
I spent 3 1 / 2 months, through the process of short sale with my apartment. Mortgage banking operations is recognized short selling through, but the deal ultimately failed because of the mortgage insurance company refused to sign the agreement. Now, my family is in pre-program of redemption. Why they do? In addition, they will agree it would be better money and have been restored, rather than confiscated house? The price of the apartment does not sell, they want, because in the same building of new apartments were sold for $ 3000 U.S. . Only frustrating: /
You can get a short term car insurance? Where should I go?
I was tryin to sell my house in Michigan. We had for 2 months of sales, only performance. We can not lower our asking price and then lower than that currently do not have the money to finish. (I did not, because our real estate agents) has reduced its Commission, he suggested talking about the short sale of our mortgage institutions. What is your opinion?