Just bumping this thread up to see if anyone knows the latest status. I have heard that funding was approved through 9/2010 on April 6th but the existing structure was left in place. Perhaps one of our LO friends has some insight.   Thanks ... View more

  You should not have a problem. Sallie Mae generally gives you 29 days past the due date before reporting it as 30 days late. ... View more

Thanks for the followup CanDo.   I am not currently in search of a mortgage myself, but I did tell my daughter and son in law a few weeks ago that they would not qualify for a USDA guaranteed loan based on thier income of $75,500.00. After reading your earlier post I was just concerned that I had possibly misled them. Again, thanks for following up on it for us.   Take care.   Kilowatt ... View more

Hello cando.   Are you sure that 115% of the "Maximum Adjusted Household Income"  shown on the chart is allowed? The reason I ask is because if you complete the worksheet using the family of 4 figure of $70,750.00, any income level above that amount will report as ineligible. If 115% of $70750.00 is allowed, then an income up to $81,362.50 should report back as eligible. I may be wrong, but I think that the 115% is already included in the "Maximum Adjusted Household Income" amount. I say this because if you take 115% of $61,500.00, which I believe is the latest U.S. median family income, you come up with $70,725.00 which I assume the goverment rounds up to $70,750.00 as shown in the chart. You'll notice on the charts that $70,750.00 is the lowest maximum income for a 4 person household regardless of the location, so that figure must be based on 115% of the U.S. family median income, which is generally higher than median income for most rural areas.   What do you think?   Kilowatt ... View more

Thanks Brian. That's what I thought. A friend of mine insists that the only time one would have to figure in the payments for credit cards in DTI is if the credit card is a joint account and the person applying for the mortgage is the joint owner, not just an authorized user.   Thanks again.   Kilowatt ... View more

  One valuable yet under-used resource for problems with Federal student loans is the Federal Student Aid Ombudsman.   http://fsahelp.ed.gov/     Good luck.     Kilowatt Message Edited by kilowatt1 on 05-11-2008 04:13 PM ... View more

  In addition to what has been posted, you could put $1900.00 toward the HSBC card which will bring it's utilization down to 29%. Then apply the remaining $300.00 toward the Cap1 card which will bring it down to 35% utilization. Once you do this then you should see a pretty nice jump in your scores since you will be going from a combined 58% utilization down to a 30% combined utilization. (generally there is a sizeable increase once you break under 30%).     Hope this helps.     Kilowatt ... View more

 The PFICO score WaMu provides is for the preceding month. In other words, the score listed on WaMu today is actually what your TU score was around Feb. 19th, (the 19th is when WaMu usually updates things.)   Hope this helps.     Kilowatt ... View more