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reneedavis
54 Posts |
 Posted - 05/08/2008 : 12:57:21 PM
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| BORROWER HAS 2 TRADELINES BUT ONLY ONE IS OPEN THE OTHER ONE IS CLOSED AND PAID AS AGREED A 540 MID SCORE FIRSTIME HOME BUYER IS THERE ANY HOPE FOR THIS LADY?????? HER FUNDS TO CLOSE AND DOWN PAYMENT ARE GIFTED. |
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Bobbi
111 Posts |
Posted - 05/08/2008 : 12:58:38 PM
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| try FHA you can build a score there |
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bramous
858 Posts |
Posted - 05/08/2008 : 12:59:58 PM
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| Would you lend your own money to her? Poor credit, no history of paying, no skin in the game.... |
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maclin
510 Posts |
Posted - 05/08/2008 : 1:00:36 PM
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| The right lender would let you use alt. trade lines ...phone, cable, ins. etc. try Wilmington or accredited |
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jvanpetten
2111 Posts |
Posted - 05/08/2008 : 2:07:00 PM
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I don't see anything about bad credit in his scenario.
quote:
Originally posted by bramous
Would you lend your own money to her? Poor credit, no history of paying, no skin in the game....
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cblaskoski
467 Posts |
Posted - 05/08/2008 : 2:10:26 PM
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| in what scenario? the one where 540 mid score was posted, or the one you quoted where poor credit was mentioned? |
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Reegor
440 Posts |
Posted - 05/08/2008 : 2:16:06 PM
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FHA loan.
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cblaskoski
467 Posts |
Posted - 05/08/2008 : 2:20:55 PM
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| mortgage loan |
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jvanpetten
2111 Posts |
Posted - 05/08/2008 : 3:04:21 PM
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No bad credit mentioned here.
quote:
Originally posted by reneedavis
BORROWER HAS 2 TRADELINES BUT ONLY ONE IS OPEN THE OTHER ONE IS CLOSED AND PAID AS AGREED A 540 MID SCORE FIRSTIME HOME BUYER IS THERE ANY HOPE FOR THIS LADY?????? HER FUNDS TO CLOSE AND DOWN PAYMENT ARE GIFTED.
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jvanpetten
2111 Posts |
Posted - 05/08/2008 : 3:04:52 PM
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What does this mean?
quote:
Originally posted by cblaskoski
mortgage loan
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bramous
858 Posts |
Posted - 05/08/2008 : 3:12:03 PM
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quote:
Originally posted by jvanpetten
I don't see anything about bad credit in his scenario.
quote:
Originally posted by bramous
Would you lend your own money to her? Poor credit, no history of paying, no skin in the game....
Sorry...inappropriate word choice. Lack of credit maybe....still, would you lend your own money? I mean, sure there may be a way to get the loan done, but does this person deserve a home? Have they shown financial responsibility? History of paying obligations? Have they saved any money? From the basics above, I say no...(IMHO). |
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CreditRepGal
582 Posts |
Posted - 05/08/2008 : 3:12:06 PM
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| The closed account is as good as no account. Past history unless it's bad, has absolutley no value on your current credit score. The open trade is good bt maybe I can help. We can add an installment tradeline to your clients account using his rental history. It WILL help the score. Also we can adress a few other issues. Please call me if you have qestions. |
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jlmandl
142 Posts |
Posted - 05/08/2008 : 3:15:08 PM
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| Fha w/ alternative credit. HUD just put out new guidelines on it. |
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staceymedinas
44 Posts |
Posted - 05/08/2008 : 3:18:44 PM
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| FHA allows alt. tradeline, like rental history? How do you get that to report on credit? |
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CoralSnake
10260 Posts |
Posted - 05/08/2008 : 4:47:36 PM
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quote:
Originally posted by jvanpetten
I don't see anything about bad credit in his scenario.
quote:
Originally posted by bramous
Would you lend your own money to her? Poor credit, no history of paying, no skin in the game....
He doesnt have a 540 because he made all his payments on time and didnt max out any cards the day after he got em.
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swtrnsassy1
59 Posts |
Posted - 05/08/2008 : 4:50:26 PM
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quote:
Originally posted by reneedavis
BORROWER HAS 2 TRADELINES BUT ONLY ONE IS OPEN THE OTHER ONE IS CLOSED AND PAID AS AGREED A 540 MID SCORE FIRSTIME HOME BUYER IS THERE ANY HOPE FOR THIS LADY?????? HER FUNDS TO CLOSE AND DOWN PAYMENT ARE GIFTED.
Alternative trade lines, phone bill, cell bill, installment not reported, cable bill, rental history.... get a verification of payment history, and there you have alternative tradelines. |
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staceymedinas
44 Posts |
Posted - 05/08/2008 : 4:53:22 PM
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| Thanks for the response! :-) |
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d_damiano
515 Posts |
Posted - 05/08/2008 : 4:54:31 PM
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quote:
Originally posted by reneedavis
BORROWER HAS 2 TRADELINES BUT ONLY ONE IS OPEN THE OTHER ONE IS CLOSED AND PAID AS AGREED A 540 MID SCORE FIRSTIME HOME BUYER IS THERE ANY HOPE FOR THIS LADY?????? HER FUNDS TO CLOSE AND DOWN PAYMENT ARE GIFTED.
try www.prbc.com and build alt trade lines |
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