spooky Tracker

Re: Should I pay off my student loans or just wait until 2012 for it to get off my credit report?

spooky — Tue, 26 May 2009 15:03:36 GMT

sallie mae wont lower my payments , why do you say they will ?? I need the magic words..... Spooky

Re: whats worse ? foreclosure or defaulting on student loans???

spooky — Sun, 12 Oct 2008 20:33:08 GMT

ionedr-I will absolutly take your advice as well as others here. I will call Direct asap. I will keep you posted. Thanx everyone

Re: whats worse ? foreclosure or defaulting on student loans???

spooky — Fri, 10 Oct 2008 00:41:55 GMT

I am sorry, but If you go back and read all my entries, and if you still have a Q, I will give more details. Ok ?? Spooky

Bail-out for Sallae Mae? When ?

spooky — Thu, 09 Oct 2008 01:17:02 GMT

I didn't realize SM had a bail out in the past! Why then do they not make better arraingments with those of us that are looking heading for a crash?? Seems like they haven't learned. I have very high loans with 16 % int, we told them that we cant make these payments, and they offer nothing! I would think that after a failed history that they would be a bit more willing to work something out BEFORE we get behind, were not behind, never have been, but the writing is on the wall. Anyone ??

Where can I transfewr my PRIVATE SMAE st.loans ??

spooky — Sat, 04 Oct 2008 17:08:26 GMT

Desperatly looking for a place to transfer my HUGE loans from SMAE, someone suggested Direct Loans, I didnt think this was possible, that they only help if its FEDERAL Loans. Desperate.

Re: whats worse ? foreclosure or defaulting on student loans???

spooky — Sat, 04 Oct 2008 17:01:03 GMT

These again are PRIVATE Sallie Mae loans, can I transfer Private to Direct Loans ?? I absolutly will if I can!! I'll get right on it , but when I went to their site, it says FEderal loans can be transfered and consolidated, nothing about Private Loans -I hope your correct, I'll be all over that if I can, but it doesnt look like it to me. I also went to the other site hopeforhomeowners.org, and all get there is an add for hosting websites. Thanks spooky

Re: whats worse ? foreclosure or defaulting on student loans???

spooky — Thu, 02 Oct 2008 00:20:14 GMT

OH , and this idea that I would go shopping HAHaHaHa very funny, the only reason to do a refi is to take out just enough to lower the rate, and lock it in at a fixed rate. At all our past homes, we came out ahead, and never had to refi to do this because we had enough down, and high scores to lock at a low fixed rate. I am looking into renting out this place, I still need to either refi (how?) or find a buyer. if the house wont appraise for what I owe, o well to me.

Re: whats worse ? foreclosure or defaulting on student loans???

spooky — Thu, 02 Oct 2008 00:13:41 GMT

First off I have NO equity in my house ! I am in the negative due to the Michigan economy, our nieghbors have lost their homes. We are in the majority of those actually pay our mtg, and always on time, we have no other debts except very a small balances on our ONE credit acct, and our car payment (again -small) the reason why we are doing great otherwise is because 1. we only buy what we need, all our furniture is second hand as well as most of our clothes-2. we both work 2 jobs, I sell alot, and guess where it goes-on the MORTGAGE as extra to help build the equity, that is loosing value faster than we can pay off(this includes bonuses !!!!) When we bought the house with no $ down, we were looking at a large bonus coming later that year, that we got and put on the mtg, but as I said, the market tanked here, and I kid you not, alot of the nice houses in my nieghborhood were foreclosed on, other houses have been sitting not selling. I would love to refi, except again-NO EQUITY!!!, So now we want to stop throwing money away, and re think . If Could work more- I would, Theres not much left to sell, and the idea of just renting for a few years cant be that bad. man I am tired!! Thanx for trying, but I ontb think we'll be homelss. Spooky

Re: whats worse ? foreclosure or defaulting on student loans???

spooky — Wed, 01 Oct 2008 16:24:50 GMT

They aretotally PRIVATE loans with Sallie Mae. So Iam screwed ?!? There are no other way, esp with the credit crunch ,will further create a problem getting a lender. My daughter will be going back to school, and we'll try to keep up with the interest at the same time. When the coast is clear, maybe we'll find a lender to refi them, scince SM wont cooperate, and then we'll be okay. In the meantime we'll move out of our house and if we can find a renter, but the mtg will adj from 1500. amonth to 2300. amonth in one year, so I guess the answer here is to try to to sell the house, but if I cant -OH WELL, I'll loose the house because I can re cover from foreclosure than defaulting on PRIVATE SMAE S Loans @ 70K !! i was hoping to find an alternative, but I guess I was right, foreclosure is better than defaulting on Private loans. OH I agree that if these were Fed we'd have a set of better options, but we dont. TY everyone. Spooky

Re: whats worse ? foreclosure or defaulting on student loans???

spooky — Wed, 01 Oct 2008 03:51:00 GMT

Mary, I really appreciate th advice, I have been on this forum for about a month loosing my sanity, the honest truth is we are looking for a renter so we can move closer to my husbands job, he puts 2000 miles amonth on his car, and we would like very much to move out to where he works, he spends 3 hrs a day commuting. Also we owe 209K on the mtg, the comps for my area of about 10-15 mi radius is about 210K, we put no $$ into getting in here in 2005, If we could maybe get a renter to pay, then we would rent a place out by his job. The prices look good. The private st loans from smae are very large, SO--- Any help on this is very appreciated. I guess what I am saying that loosing the house is bad, but I think scince we didnt put up anything, and were are willing to live with renting probably for a very loing time, I would love to NOT foreclose of cours, I would rather default on my ST Loans. I need your expert advice. Spooky

Re: whats worse ? foreclosure or defaulting on student loans???

spooky — Wed, 01 Oct 2008 03:39:46 GMT

cindy121, are you saying that i can default on my loans, and the judgement will leave my repor after 6-7 years?? These are SMae private loans that i co-signed on ? very curious- hmmm spooky

Re: whats worse ? foreclosure or defaulting on student loans???

spooky — Tue, 30 Sep 2008 18:36:13 GMT

Whats this about a relief act never heard of it? Spooky

Re: whats worse ? foreclosure or defaulting on student loans???

spooky — Tue, 30 Sep 2008 18:33:43 GMT

Iuven637- Ty for your answer, what would happen if I paid abit (1/4-1/2)of the min. payment irregardless of what SM wants, what would SM do then ? What could they do ?? If I am consistantly paying EVERY single month,and its always on time ! what are they going to do ? give it back and say its not enough ? NOT a Chance- scince when will any company do that.!! Anyone?? spooky

Re: whats worse ? foreclosure or defaulting on student loans???

spooky — Tue, 30 Sep 2008 18:11:56 GMT

Raven13, That is a HORRIBLE story!! Theres always somene worse off, I will pray for him. I am coming to the same conclusions about the SL vs foreclosures. I just posted a response to this, it explains in detail what were thinking of these days. Ty again, & God bless SPOOKY

Re: whats worse ? foreclosure or defaulting on student loans???

spooky — Tue, 30 Sep 2008 18:05:27 GMT

rodrain2- I m the co-signer, and we have NO equity in the house, we got a no money down house loan, with our income, it wasnt a problem making the payments, and a good credit history, and no reason to believe we wouldn't be able to create a large amount of equity but then the area started going down in value ( I live in MIch) and then things went down down down, scince like I said, we have nothing into the house, nothing down, no equity, we could re coup eslewhere (renting looks good these days), and with major losses on wall street, we have lost most of our savings, were in our 50's, so--- my daughter has decided to go back to school, I would rather pay her tuition,she would only need to go part time., put the loans into deferrment, she will pay what she can onto the interest, but we will have to go rent somehere cheaper... Anyways, thats what were thinking.open to any suggestions. Spooky

Re: whats worse ? foreclosure or defaulting on student loans???

spooky — Tue, 23 Sep 2008 19:39:07 GMT

Thanks for your ideas, will they defer after using up all possible deferrments? They told me that we have used all except 6 more months of partial deferments, where we pay interest only payments. Will going back to school nuke that policy ? I am trying to encourage my daughter to go back, she is all for it except that she is afraid of it piling up even more, at some point they have to be dealt with, I think were going tp put the house up or sale in the early spring,(living here in MI-that could be next to impossible) but we'll try that anyways. TY spooky

Re: NCO Student Loans

spooky — Tue, 23 Sep 2008 02:48:46 GMT

Also. what does SOL stand for-please tell me !!!

Re: NCO Student Loans

spooky — Tue, 23 Sep 2008 02:47:55 GMT

WHAT's NCO ??? i have nasty Sallie Mae, who now ont refi my loans as theyt said they would
(once i reached a magical score- which i then acheived) so whose NCO ??

Re: whats worse ? foreclosure or defaulting on student loans???

spooky — Mon, 22 Sep 2008 04:06:19 GMT

Were those private loans ? SM only gives out private loans, so how does the govt get involved in taking your tax returns. ? Do you have to be in complete default? We've co-signed so that would hurt my daughter as well scince they are hers primarily???? so curious!

Re: Loan Modification

spooky — Sat, 20 Sep 2008 02:28:03 GMT

When you do a mod, what exactly happends? Do they only adjust they rate? or term? can I have them permenetly mod it.? I have year, and no equity any more ( I live in Michigan) TY Spooky