Mondavi Tracker

Re: Do I qualify for a mortgage?

Mondavi — Sat, 18 May 2013 03:16:02 GMT

You can buy one from this very website. Buy the Equifax report. It will be the same score as you would get from a lender. You can buy it for a one time price or sign up for the Scrore Watch. If you have a promo code you can get one report for $15.95 otherwise it will be $20. I could PM you a promo code that worked for me yesterday.

Re: Do I qualify for a mortgage?

Mondavi — Fri, 17 May 2013 21:10:11 GMT

As for the mortgage specific questions you will have to wait till one of the actual loan guys from here chimes in or someone else with more knowledge than I.

Your scores you have sadly do not mean much of anything. They are all FAKO scores and lenders will not be using those scores. They can range +/- 100 points and up in difference than your actual FICO score.

The TU98 score you get from here most likely will not be the same as a lenders. Most will use TU04.

The EQ 5.0 score you can buy from here will match what your lender will pull.

The EX score you can only get from lenders or a few credit unions. 'However that will soon change and myfico will be offering the EX Fico again from what I read"

Re: Do I qualify for a mortgage?

Mondavi — Fri, 17 May 2013 17:51:27 GMT

First thing I would do is try to get the medical collection removed. If it is paid in full I would start sending GW letters the the collection agency.

Where did you get your scores from?

Do you have proof that you make 4k in tips? You are going to have to be able to show on paper that you make that in tips. Such as a print out from work.

You never said what her credit score was. If you are going in this together then you will need both of your scores.

What is your DTI and hers? There are online calculators that will give you an idea.

I am no expert but the short employment history and part time may be a problem.

Besides your wages what were your last two years of gross income on your W2's? Lenders will request that.

Will I be able to purchase a new home?

Mondavi — Thu, 16 May 2013 23:27:32 GMT

I have had a very long journey in credit repair 14 negative items " two left". Last year my credit was TU 545 EQ 616 EX 606 all lender pulls. I have not did another lender pull yet. My TU 98 from here is now 719 (Today) and EQ is 709 (Last Month) EX unknown. I know the TU04 will be different than my TU98 from here. I however am counting on that I will be over the 700 mark though for my middle score. I just have a few small things to wrap up. Before I apply I will have a CO from 2008 with a settled for less than full amount. I was apart of a scam/fraud case. I have all the proper documents to prove to an UW that it was indeed fraud. I will also have a Paid in Full charge off from 6 1/2 years ago left. Chase will not budge.

Here is where it gets tricky. Not sure if an UW would have fits over it. I have been at the same job for 7 years. I work seasonal. I work 9 months each year. Unfortunately no permanent positions are open. I always have rehire rights and that will not change. During the off season I am on unemployment and after taxes I take home $1,700 a month for the three months I am off of work.

I will be applying on my own. My girlfriends DTI is though the roof and would only hurt our chances. Plus her income is somewhat sad. She pays all her own bills.

Here is a list of my income and assets.

I make $4,400 a month. Plus at least another $1,000-1,500 each month in overtime however lets just assume I make $ 4,400 a month for now.

The last two years on my W2's I made $62,000 and $64,000.

I have $195,000 in stocks that I can sell at anytime. They would be used for most of my 20% down.

I have $23,000 in my savings account.

I have $35,000 in my retirement. I can cash that out anytime I want, however I rather not touch it.

My credit card Utilization is 1% of my three cards only one requires a minimum payment of $25 a month and it has a zero balance.

I own two vehicles. Both are paid off. " Not sure if that would matter in trying to get a home loan"

Besides the $10 dollars I owe on my credit card that is all the debt I have.

The homes we are looking at are around $320-335k. I would be trying for a conventional loan. Insurance would be around $80-90 a month and property tax would be $3,000 a year.

Using DTI calculators I seem to be good in that regard. I am just concerned about not working for 3 months. Even though I always save up before that time and never have problems paying my bills and rent " $1,200" a month. I figure I could afford without being home broke during those three months a max of $ 1,600 a month for a house payment with insurance and property tax included.

What do you guys and gals think? Thanks for your time and input. I really appreciate it:smileyhappy:

Re: CapitalOne Goodwill- Won't budge!

Mondavi — Wed, 15 May 2013 23:01:50 GMT

That 30 day late from Dec of 2008 should have little to zero effect on your credit score being that long ago. Personally I would not even worry about it. Unless you just want your credit report to look perfect. If so then keep trying.

If you were trying for a home loan I doubt an UW would even ask about 1 30 day late from that many years ago. Especially since that is your only negative thing.

Re: Dofd question

Mondavi — Wed, 15 May 2013 22:52:41 GMT

Either date of service or If billing to the consumer were to be deferred pending insurance processing, then there is no set due date upon which to become delinquent.

The DOFD would then be the date due set in the billing statement, if not paid by that date.

Re: HELP. I messed up, and I need advice

Mondavi — Mon, 13 May 2013 19:39:59 GMT

Ya I agree. Call the irs I'm sure they will work with you. However the insufficient funds could be an issue.

Re: 674 to 658 by doing what the simulator told me to do.

Mondavi — Mon, 13 May 2013 14:19:54 GMT

You said you paid off your revolving debt to zero correct? Your credit cards. Mortgage and student loans do not count as revolving credit. You need to keep your utilization between 1-10%. So if your util is zero now my guess that is your drop in score.

Re: When should I be able to get this off my report?

Mondavi — Sun, 12 May 2013 13:35:35 GMT

What does it have on your TU report for "estimated date of removal?" Since a payment was made on 4/06 and nothing after that I would assume your DoFD would be 5/06. Just looking at your dates from here I would assume it may be removed around 8/13 to-10/13.

Re: Can a original creditor threaten to sue on time barred debt?

Mondavi — Thu, 09 May 2013 21:35:50 GMT

Thanks for the help. Here is the code for OH if you are bored and want to look it up. rev. Code 2305 03. Unless I just misread it.

Re: Can a original creditor threaten to sue on time barred debt?

Mondavi — Thu, 09 May 2013 20:43:59 GMT

My attorney was not to concerned about them trying to use the OH SOL. Since the contract was signed and I lived in California he said they would also have a really hard time getting a judge to accept the SOL of OH and if they did they would have to sue me in Caliornia. He also said that if this did go to court that by the time it was done he would make them spend at least 6 times of what the debt was originally. With all the processes he would make them go through.

I just was not sure if they could threaten to garnish wages over the phone without proper notification first. There has to be a violation somewhere with them telling me I can not have an attorney represent me if they do sue. I wish I could deal with these people face to face. Actually I may be behind bars if I did so maybe that would be a bad idea.

Also OH is now 8 years on a written contract. I think it was revised last year.

Can a original creditor threaten to sue on time barred debt?

Mondavi — Thu, 09 May 2013 18:49:28 GMT

I live in California. My DoFD on this debt was June of 2008. This was for a boat loan. The bank is located in OH. This whole thing has become a mess. I was involved in a fraud case. The bank does not care since in the fine print it stated I could not sell the boat without contacting the bank first.

They sent the debt to many different CA's it was always sent back. Since the case was so complex. I finally called the bank. Have not spoken to them in over four years. I was able to get them to recall the debt. Well after reaching out to them. Their internal recovery department treated me like garbage. Demanding that I make a settlement offer that very minute. If I did not they would send it over to legal and my wages would be garnished. On top of that they told me an attorney could not represent me and that only I could deal with them. So after getting to the point were I was going to explode in anger, I hung up and called a manager who then assigned me to another agent. Who once again talked about legal crap. She also said since interest and penalties are still occurring that a settlement will only go up and that is how it works. Two years ago they sent me an offer to settle and now she said I would have to pay $3,000 more now.

Since the DoFD was June 2008 and I live and signed the contract in California I would hope the SOL has passed since a written contract in CA is 4 years. I know debt collectors are not supposed to threaten to sue on time barred debt. Does this also apply to creditors and their own debt? Also can they threaten to garnish my wages without any legal notice. On top of that tell me that I can not be represented by my attorney when dealing with this??

I do have an attorney but trying to save myself some money before he gets invloved more than I need.

Creditor accepting payment after settled closed account.

Mondavi — Wed, 08 May 2013 21:03:19 GMT

Was trying to do some research on this. I had a credit card what went into CO back in Aug of 2007. I sent a payment in before it was going to be CO at the request of the creditor. At the time I had no idea what a CO was. Well the representative said if I paid before a certain date the CO would be avoided. Well they got my payment before that date however they charged off my account two days before the payment posted. The remainder was sent to a collection agency the next month and I paid them what they requested.

Six years later I am stuck with a settled for less than full amount on my credit. Pissed about this I called and asked why I had this remark from the creditor. They claimed that I still had a balance of $132 and it was never paid. It also was not their problem that the collection agency only requested what they did. So I begged to be able to pay off the balance so I could at least get a paid in full on my account. They flat out said no at least 10 times over the last year since that account was already settled and closed with a zero balance.

So today I explained what happened to someone else and she understood and asked if I wanted to pay the rest of the balance and she would change it to paid in full after payment posted. Since the account was already settled and closed what will happen now that I paid the balance off since it was already had a zero balance? If they process my payment and decide not to change the creditors comment of "settled for less than full amount" what can I do about it? She said they will be sending a letter in 10 days saying it was a paid in full account. If she did this for me and it goes through maybe I could ask her to change the account to paid as agreed or delete the account. I highly doubt that though.

I should note that this was all because of a silly $300 limit card. $222 was the balance of my first 30 day late and by the time it went into CO 180 days later I had $342 in overdraft and late fees!!! I had many other cards that were $7,000-10,000 that I eventually paid off in full. I just thought this card was so insignificant that I blew it off. Wow I was wrong.

Re: UW Help!!!! please

Mondavi — Sat, 04 May 2013 06:34:23 GMT

Does the system she works with require her to enter how much she made in tips at the end of each shift? Even though most servers will not enter their cash tips only what is on their credit cards. If for some reason she may have done that you could get print outs of what she made.

Just a thought.

Re: How much of a jump (if any) can I expect?

Mondavi — Thu, 02 May 2013 02:42:48 GMT

You said your total revolving debt is 15K and paid off. So what is your utilization at now? Zero percent?

Re: Does myFico use Beacon 5 for the Equifax score?

Mondavi — Thu, 02 May 2013 02:36:54 GMT

Yup. It will be the same one as a lender would pull. The TU from here is the 98 version and most lenders use TU04 for home loans so scores can be different.

Bank will accept a settlement but I have to go though the CA??

Mondavi — Tue, 30 Apr 2013 21:25:26 GMT

Complex case I have so I will not get into those details. I called the bank after 6 years to try and take care of this debt. It is past the SOL and the case is very complex so most CA's give up in a few months of having the debt. I think 7 CA's have represented the bank over the last 4-5 years. Well today I spoke with a head supervisor of the bank and they said I could not deal directly with the bank and I would have to call the CA that was representing them at this time.

I got brave and called the CA that the bank told me to call. The CA told me they no longer have the debt and gave it back to the bank. I called the bank back and said "ok now what"? Same supervisor talked to me a little about what I might settle for. Then I was told I would have to call back later in the week to see exactly where my account is now and what CA may have it.

So I guess my question is why on earth would the bank who still owns the debt and reports it would not just negotiate with me and my attorney directly? They have their own internal collection deparment. Instead pay some CA a percentage of what they collect. I would assume from what I read anywhere from 20-50% of what they collect. Does that just sound dumb or what? Give a CA that much money for doing absolutely nothing at all. The CA will still have to contact the bank to see if the bank would approve the settlement amount anyways.

This just frustrates me because I do not want to see some random CA get paid for doing nothing.

Re: Gutted. Scores plummet day before pre-approval

Mondavi — Mon, 29 Apr 2013 06:06:42 GMT

Something else is up. A 30 day late that is two years old should not have that much of an effect. Removing the dispute comment should not affect your scores. If the account was under investigation then yes it could change your scores a lot during the investigation. I have removed a few "consumer disputes this account" comments and never seen a score change. Maybe someone else can share their experience with getting dispute comments removed and if there was any score change.

What was your utilization before you paid the card off and left a small balance on another? What is your utilization now? One other thing is the TU from here really does not mean much of anything. Most lenders will use TU04 and people can have +/- 50 points from what I have seen between the two models. Your EQ from here will be the same, so that is a cause for concern.

Re: Disputed unpaid CO as paid and EX verified it as unpaid.

Mondavi — Sat, 27 Apr 2013 23:56:05 GMT

I would assume that you have in writing from the OC that you paid this CO? If so just file a complaint with the CFPB against EX and include the copy that you paid this CO and that it should be verified as paid. If you have proof some person from EX not from a 3rd world country *sarcasm* will actually take care of it and update it how it should be.

Re: Old negative removed and lost 35 points FREAKING OUT

Mondavi — Fri, 26 Apr 2013 20:14:36 GMT

What was your AAoA and oldest account before it was removed vs after it was removed your AAoA and oldest account now?

Reason I ask is I had some problems with some of my positive closed accounts being removed from EQ way before 10 years. My AAoA went from 9 years down to 5years and oldest account went from 15 years down to I think around 10 years. I lost 30 points because of this. I eventually got them all put back on and score went back up 31 points.

I am guessing that is what might have happened. Was it a C/O or just late payments from the account removed?