@sxa001 wrote: These articles remind me that I am living in a bubble and that there are a lot of people out there who are still really struggling because of impact of the Pandemic.  Entire industries gone, and it still isn't safe to bring them back in full force.  I'm in the same boat.  I think the only true economic impact I've felt is the change/lack of products on the shelves when shopping.  There are people around me that I'm just finding out that their "working from home" means job hunting.. my community is an affluent neighborhood of executives/upper management professionals.   There is a large shift in how the economy functions but the industries that are needed will find their way back.  The ones that were going to die out anyway will stay that way.    I work with procurement teams across the country and everyone is green lighted to pay the extra couple dollars to purchase domestic products.  COVID's largest impact to my industry was lack of supplies which opened us up to the risk of massive asset losses, luckily we were able to avoid the losses and made it through.  However, we have truly rethought our purchasing decisions and have agreement that if spending an extra $2.00 on a wigit means that wigit is sourced and produced domestically removing the need for imports... it's worth every penny spent. ... View more

@Anonymouswrote: @SouthJamaicaIf your primary goal is improve your FICO credit score and your secondary goal is to reduce your monthly payments, If anyone has this viewpoint above, I'd strongly urge them to consider flip-flopping those goals.  The only exception IMO would be if there was a mortgage application coming up relatively soon. I have a 60% UTI due to new baby, new house, new everything in 2017.  I now have a goal of, in 12 months, to make massive home improvments to our new house due to new baby.  I got my Taxes, work bonus and other various expense checks and paid off my Car note and some of my UTI increasing my monthly allotment to go toward my UTI.  I did this because I have 12 months to get it right... don't care about score till January of next year.   If I needed a high score in 30 days, I would have paid down the UTI and maintained the car payment.   It's all in goals and time frame to achieve those goals. ... View more

I was in the same boat when I bought my last car, about 8 months post BK and a 18% car loan with one of those "your paycheck is your credit" places. I refinanced at about 6 months in with my Credit Union and it went down to about 5%.   It's really dependant on the CU you want to go with and the loan to value ratio, it never hurts more than an Inquiry to find out.  Check the Blue Book value and see how far your off, if you put money down you may owe less than it's worth which makes it easier. ... View more

I'm assuming that you are getting the construction loan to develop the 3 acers.  If that's the case it will be factored into the total Loan to Value when the loan is put together.  If you own it outright it will only help you, if you still owe money on it it will count against the LTV and could possibly be rolled into the final mortage. ... View more

We just bought a Second home to use as Primary and rented out our old one with about 15% UTI in CC Debt.  As long as the FICO score is good and your income will cover the expenses there shouldn't be any issues with outstanding debt.  Of course Underwriters are an odd step in the process to try and figure out, everyone of them are differant. ... View more

My Discover It is my daily card and hands down my favorite. ... View more

I wanted to add that as Credit Profiles improve the lesser "Hits" to a credit profile start to show themselves.  Amount owed is too high could be an extremely low hit on your profile but since you might not have any bigger hits (High UTI, recent late payments, ecessive pulls, ect.), the 'Amount owed too high' reason will show up... not to say it is too high, it's just the only thing that's hurting you.  I hope that makes sense.   For instance as my Credit Improved, my 'Negative Indicators' changed from 'Recent Late Payments/Charge Offs' to 'Public Records' to 'Mortgage Balance too High' (I've purchased 2 houses in the last 3 years and I'm only assuming they are hitting me for have 2 mortgages?).  My scores are still only in the high 600 - low 700's and I do carry some CC balances but High UTI doesn't show up, just the one on the Mortage balance and my public record (still 2 years to go before the BK falls off). ... View more

Check with the fund you cashed it out from.     I cashed mine out once after leaving a short term employment, the IRS came back to me a few years later telling me I owed them money on taxes.  I too thought I had the taxes taken out when I cashed it out.  I checked with the fund I pulled it from and they verified that they did take taxes out but didn't report it to the IRS.  I got a copy of the check stub and the tax form from the fund and sent it into the IRS.  I paid a small $30-40 differance but all said and done it was quickly cleared up. ... View more

I just got aproved on a conventional loan with similar scores (we close in 2 days) in a similar situation.   We ended up renting out our old house for sentimental and financial reasons (tons of equity).   They only needed copies of the signed lease for the property and they used 75% of the rental income towards our DTI ratio.   The reason for the 75% is banks know that over the course of the loan there will be vacancies as well as maintenance costs associated with rentals.   Now since you will be occupying the 1 apartment you will net about $1,800 rent towards your DTI (I assumed that you would occupy the 1 apartment at $950). Then you add in your regular income to come up with a DTI you can afford. ... View more

I took my video/ computer hobbies and turned them into some extra cash flow.    There is a friend at work that hosts and assists with EA Sports Madden (video game) tournaments and he asked me to shoot a highlight reel so he can promo his next tourny.  After I did his I picked up two more and there are 6 more that have requested pricing info.  I've shot a couple of them so far not a lot of cash yet but enough to make a differance.  The footage serves double because there are gaming web-sites that buy copies of my raw footage.   I've also taken my limited knowledge of Flash Web Design/ HTML/ XML and picked up a few small websites (5-6 page average) to layout and manage, these are nice because of the fact I can work on them after work, and on the weekends (plus if I do it right, only time I should touch it is when they make product changes) as long as I keep with the small sites.   Neither one effects my regular job, and nice $1000-1500 a month extra, once my names out there I can possibly get into the $5000-6000 extra...but again that's dreamin and would take from my 9-5's :)  ... View more

laurenjane wrote: FaircreditguyFL -   Won't it improve at all?  If you have re-established credit after your discharge, and the 7 years ticks by and finally the BK drops off, surely your scores will improve, as you won't be showing a "serious delinquency or collection or public record."  Doesn't that make sense?  Or am I missing something? Public records in general don't effect your score after 2 years.  It would be safe to say that a BK would be in the same catagory.  Basicly FICO see's a public record's closing date, it doesn't get into specifics on what it's for or how much it was for, just that is was settled/ closed on xx/xx date.   The part to look forward to is once the BK falls off, the unfriendly BK lenders will be freindly to you once again..... ... View more

Exactly...I had to understand what type of assets I am spending my hard earned money for. Do they depreciate or appreciate, and unless you are buying old corvettes or cobras, most cars(and trips) fall into the depreciable category. And the house is a great way to build equity There is an add running for a local bank, that has two characters called "Will and Way" and they talk about a boat, new car to haul the boat, vacations etc...and basically say if you cannot afford to do it on your regular income, go to the local bank and take out a HELOC...absolutely unbelievable....when we people every learn. Never!!  The same thing that's happening now happened in the 70's, 90's a little in '01-'02 but it will just continue on for ever.  Things will get really bad everyone will tighten up, once the sun starts shining again they will forget the bad times and start the cycle all over again.   In '98 my parents took a second mortgage to buy a house next to theirs, fixed it up and ended up selling both and retiring in the Mountains on 20+ acers in '03, they recently got part time jobs because inflation / cost living stole 30% of their savings in the last 5 years double what they budgeted for (luck has it they are still in their late 50's and can do it, I feel for those in their 70's that need extra income).   An ex-coworker took a second out and bought 2 Harley's, '07 Mustang and built a deck on his house.  Well his house just sold at auction and he had to quit his job to move back home at the ripe age of 49 (with 2 step-kids and wife) because he couldn't afford the 2 mortgage payments after his Overtime was cut (yes he budgeted possible overtime into his monthly budget) and the first was an arm that adjusted from 4.2% to 10.3% over two years.....It was the 2nd house he lost to foreclosure.   Some people don't learn, some who are "money smart" will stay ahead of the curve and suffer the consequences of those who are just careless... ... View more

I'd be carefull counting on the BRAC helping local economy. Maryland's economy has been proped up by the promise of the BRAC and word is now the NJ base employee's that are supposed to move to Ft. Mead are fighting it tooth and nail, some have even taken early retirement (cost of living in MD is triple compared to NJ). To top it off in my Opinion if or when a Democrat is elected Pres. (God Help Us!!!) the military will go through a huge "fat trimming" and those 30-60K jobs will dissapear......turning BRAC into more of a BEAC (Base elimination act of Congress), destroying local economy's. I don't mean to put doom and gloom in peoples lives, but until there is a fruitation of the BRAC benifits I wouldn't count on anything..I don't think it's going to be as good as everyone thinks it is, remember the promises are coming from politicians. Agree about BRAC, the thinking is that we are getting commands to relocate (more Generals = more $), we have NASA and Redstone down here and have been very fortunate in regards to both having strong futures. I have seen a YouTube with Mr. Obama discussing cutting defense spending for missile systems and FCS (Future Combat Systems) both of which employ many people here in Huntsville (including myself) and that does scare me (possibly back to the private sector), so I know what you mean (after hunkering down for eight years under Pres. Clinton). No doom and gloom taken...I know you are being a realist...and I know the inherent risk associated with taking "anything" a politician (all parties included) says as the gospel. But I try to be a glass half full person... ;-] Message Edited by HinH on 03-11-2008 07:39 AM I'm usually the half full kinda guy too but BRAC is kinda scaring me right now, at least in the Baltimore/ DC area. We haven't seen the Home Prices fall as much as the rest of the nation (due largely in part to BRAC predictions) and if things don't pan out like they think it's going to, there will be Billions of wasted tax money on infastructure improvments (highways, schools, Utililities) and I'm really afraid that the Housing market adjustments will happen all at once really destroying everything.   Basicly MD's economy is being supported by assumptions of BRAC and I really don't like assumtions!! I'd rather see a portion of the Jobs move here before investing, but that's just me.  As far as the housing goes, PA and DEL will see the most benifit, people who do move here are prob going to live out of state and commute to avoid MD's taxes and high cost of living squashing the presumption we don't  have enough housing (which is supporting housing prices right now).   Spending cuts are coming no matter what party is elected, but to what extreme's I have no Idea. I agree if (or when) Obama is elected the Civilian sector of the military will be cut short of being eliminated (have to pay for the Universal Health some how,lol). ... View more

MidnightVoice wrote: And they don't have to make a profit! I was talking to one of my CU reps and asked a few questions on how they operate trying to get a feel for if it was worth the switch.  I have my Bike loan and a CC with them, as well as a savings.  There are several benifits that I liked, not sure if I'll totally give up my local bank just out of conveniance (closest CU Branch is 2hr plane ride to Nashville, they only have 4 nationwide).   But the main things I liked were: 1. Loan Officers work by the hour, not by the loan (my selling point). 2. Intrest rates are set, no matter what your FICO is the intrest rate is the same. 3. FICO is a small part of the loan process (620 and above will get you approved for anything that may be needed), major influences are 1) Company Time, 2) Pay Rate..Basicly if you have "ok Credit", with the Company for 2 or more years and the DTI is within limits, you will get a loan. 4. CU is authorized for a direct pay deduction, so they know they will get their money which makes getting approved a lot easier. 5. CC is set at 11.9% and will not move up or down no matter how long I have the card, even if I miss a payment (which wont happen because it is auto-deduct) there would be no change in intrest rate. 6. New Bike loan 7.5%. 7. Approved new car loan at 5.5% (decided to wait on the new car). 8. Bi-Monthly payments, reducing overal intrest paid on all CC's and Loans. I still keep my Local bank just so I can make deposits but that's it.  So much easier to deal with the CU. ... View more

@Anonymous wrote: @Anonymous wrote: @Anonymous wrote: This is just the tip of the iceberg. Turning the frown upside down, if it gets bad enough, then 620 could be the new 760. If so then I am golden...lol OTOH... As far as jobs, depends on where you are. We have BRAC coming and our markets both real estate and jobs are in a good position to benefit from all of the moves and money coming to Huntsville. But, I talk to other people in other markets and they are hunkering down to weather the storm...so good luck to all. I'd be carefull counting on the BRAC helping local economy.  Maryland's economy has been proped up by the promise of the BRAC and word is now the NJ base employee's that are supposed to move to Ft. Mead are fighting it tooth and nail, some have even taken early retirement (cost of living in MD is triple compared to NJ).   To top it off in my Opinion if or when a Democrat is elected Pres. (God Help Us!!!) the military will go through a huge "fat trimming" and those 30-60K jobs will dissapear......turning BRAC into more of a BEAC (Base elimination act of Congress), destroying local economy's.   I don't mean to put doom and gloom in peoples lives, but until there is a fruitation of the BRAC benifits I wouldn't count on anything..I don't think it's going to be as good as everyone thinks it is, remember the promises are coming from politicians. ... View more

SerenityBound wrote: Sorry all!   PC went all schitzo on me!   I was asking PayYou, with that being said (what you posted about sleeping dogs), do you recommend still DVn a CA after the CRAs dispute?   SerenityBound....indeed! I know you wern't asking me, but if you've already disputed I would send a DV and wait until you've recieved the Green card back.  Once you have it send the CRA a MOV letter or request a re-investigation (although the MOV will get a better result).   Once the CRA has done the dispute the TL is already updated so going with the risk of having the update hurting your score is less (because it has just been done).  If it's been a while (6 months or more) since last update I would let sleeping dogs lay and only address it if they start updateing. ... View more

Reporting date does matter when calculating scores.    DOFD or DOLA only effects fall off date.    If a CA is updated today it will effect your score negatively (paid, unpaid, disputed, anything), if it hasn't updated for a few months it won't have as much effect. ... View more

Same thing happened to me.  I was denied AMEX for having a judgement outstanding (it was piad off it 2004 but lawyer never sent satisfaction letter).  When I contacted saud lawyer they sent in the satisfaction letter but the public record was updated and my score dropped 30 points.    AFNI was updating a collection weekly until I DV'd (that stopped everything) and that was keeping my scores in the low 600's.   It took about 3 months for them to stop effecting score so much, now I'm in the high 600's. ... View more

rycoop wrote: Okay my scores are crummy but they've come a long way baby... and I have to ask if this seems right.   Let me give you a little history. On 11/30/07 my scores were EQ 477, TU 531, EX 593. Today they are EQ 511, TU 601, EX 607. They are moving in the right direction but I'm trying like crazy to get them up high enough to qualify for a home this year.   I have only one good open cc (I wasn't responsible enough for the others I had). Regardless my only open acct is with Imagine card (I know, they're bad). I'm applying for credit and being declined so I've stopped all apps. NOW I am going to just keep paying on time and keeping the balance low so I can get those scores up.   My question is this..   I went to Score Simulator and I currently have a balance of 296 on a 300 limit. I put in 296 (to pay it off) and it says score could be 621-651. BUT if I only pay 260 I have a possible score change of 631-671. Is it really possible to have a higher score with a small balance on the card?? Wow?   Thanks for the feedback.       Having a 1-9% balance on reported to CRA looks better than a $0 balance.  The reason being is it shows you are being responsible by not over using you avialable credit, and able to maintain what credit is being extended to you. ... View more

MidnightVoice wrote: George2037 wrote: The average airline is running at 60-65% capacity,   I wish my flights were running at that capacity!!!!!!!!!   The ones I catch are usually running at >90%, and about 1 in 7 or 8 at >100% (ie, overbooked) True a lot of carriers are learning how to fill their flights by reducing frequency and setting the right prices.  Overbooking is unfortunatly a result of that, the reason is there is an industry average of 10% no-shows or double booking.  The FED allows carrier's to overbook flights up to 20% to allow for that, why stop booking at 100% when you know 10% have a high chance of not showing up and come asking for a refund (I just flew stand-by on Wen and the flight was overbooked by 12, but come push time there were 15 empty seats).  If you book at 110%, 99.9% of the time you'll still have empty seats but still close to 100% load.   Unfortunatly overbooking happens more on certain flights/routes, but hopfully your carrier see's that and is working on a fix.  I know my company looks at certain flights as "Repeat Offenders" on overbooking and react by increasing frequency in that time frame or reducing the overbooking percentage.  We also reduce flights on routes that carry less than 40% load factor (break-even point).   It comes down to fuel costs, the higher the fuel bill the more people that will be on your flight.  I personally miss the 100 empty seats on those 6hr non-stops (amazing how comfortable the seats can be when you can strech out across them), but I also understand that each empty seat costs the airline money. ... View more

@haulingthescoreup wrote: @George2037 wrote: Where the reduced capacity will occur is in the domestic market. They have a lot of overlapping routes that would be cut (some estimates are as high as 50% domestic alone), the planes on those routes are to small for international flights so probably would end up in the desert somewhere or liquidated (that's where the Pilot Union's step in Crying the blues). George, that's an interesting point --I hadn't thought that far. Delta and NW are the major players at my local airport, and I was getting all giddy about increased options. But I can see how it would easily result in even fewer flights. :( edit: BTW, my suggestion for the new card name: the NorthWestDelta GateHold. Message Edited by haulingthescoreup on 02-21-2008 04:02 PM But don't worry, look at the stock prices of the low cost carriers (LUV, Jet Blue, Air Tran) even with oil at $100bbl they are rising on the merger talks.  Walstreet belives they will be stepping in and begin filling the gaps.  A lot of people were worried about LUV going into PHL and hurting USAir and reducing their options.  However the end result was lower prices and more options. I think it was USAir and American West that joined up a few years ago and they reduced their domestic 35%, but all the Low Cost's increased their frequencies in those markets filling the gap. One example (not related to mergers but the end result of reduced flights) was the day before LUV started service a same day round trip (PHL to LAS and back) on USAir was $2,800, now it's $600 matching LUV.  That's why I think any merger that is seriously attempted will happen and the FED's will approve.  Unions will cause problems but in the end it's what is best for the consumer,  Mergers are the best thing that can happen now aside from one or two going completely out of business.  ... View more

Sylviatob wrote: George, interesting post. Not to be argumentative, but I thought NW has a strong presence in the Orient, whereas Delta has a strong presence in Europe. That's for international flights. Not sure about domestic flights though. My experience is limited in domestic service. First I want to say sorry for the side bar discussion not trying to hijack, just I love talking business :)   Sylviatob, true NWA has a large Orient/ Middle East presence, and Delta pretty much covers Europe and that's where the Merger will make sense and really expand their business (international is where the money is right now, especially with the weak dollar).    Where the reduced capacity will occur is in the domestic market.  They have a lot of overlapping routes that would be cut (some estimates are as high as 50% domestic alone), the planes on those routes are to small for international flights so probably would end up in the desert somewhere or liquidated (that's where the Pilot Union's step in Crying the blues).   Personally I think to combat the higher fuel costs a major reduction in capacity would both prop up failing domestic airlines and lower prices (if a plane is full they can sell seats cheaper).  Right now the prices are rising because of a two fold problem, high fuel bills and empty seats.  The average airline is running at 60-65% capacity, right now most planes need a 40-50% load factor to break even, 10-15% doesn't leave much of a buffer for "Unexpected Expenses". ... View more

haulingthescoreup wrote: Is this merger a fer sher thing? I would think that the union issues alone would make it a nightmare to pull off. The Pilot Unions are giving a fit about how the senority will work out.  Plus they know that there will be a 20-30% in flight reductions from overlapping flights, meaning the need for fewer pilots and the Unions don't like it.  I have a feeling they will fight it to the end, even block it as best as they can.  If the top officials want to make it happen they will, no matter how much the Unions cry about it, only thing is if they don't agree with it, it could take a lot longer.   Being in the airline industry myself I believe if your company is hurting like theirs are I would accept whatever happens as long as they are working towards keeping me employeed.  The reduction in flights would have me worried, but that's what I get for chosing a "Solid" industry like Airlines for my carreer. As far as getting the FED's to go along it wont be a problem, the sky's are overloaded with seats as it is.  On top of it pretty much every airline is loosing money which turns into no Income Tax revenue from the majority of them, I think any merger would be quickly pushed through. ... View more

On top of all that i went ahead and sent in the documents I had gathered to clean up the last two things on my credit (satisfaction letter, and mistaken Collection TL), and paid my UTL down to 25% with another round to drop it below 15% at the end of this month.  EX updated Friday and I would assume that TU and EQ will in the next 2-3 weeks.  With those taken care of my score should jump 40-50pts putting me past the ever so elusive 700, my current median is 640 (probably why they are focusing on the rent thing so much). ... View more

Lady_Scarlet wrote: Did they ever charge you a late fee (get a full account sent to you - which you may be able to substitute for a letter from them - shows they 'posted' consistently on whatever day)?  Check with the county also BTW- they have their own rules also...  what they don't want to lose is a 'paying tenant' even if you do pay on the 5th/6th - so they are standing on 'policy' to hinder your moving IMO.  Have you given notice? That was the feeling I got, all the people I went through as I went up the food chain said "We hate to loose you as a tenant".  I know they have a 40% vacancy (out of 1,500 units) right now and are hurting.  They did charge late fees but refunded them, I got a print-out of my account but with the late fees on there (even though refunded) the lender didn't like it.   I'm going to go through my CU and get something solid, I already spoke with them about the Rent history and they could care less.  100% financing at 7.2% and I can re-fi in 3 months to 5.75% no problem.  Not all is lost, the house was just an investment that I would have to put a lot of work into, if my raise is as much as it's been hinted around to be I'll be able to buy something that doesn't need as much work.  Plus I interview for a promotion in two weeks that will triple my salary and I'll be able to buy much more than what I'm loosing.   Again the old saying, Everything happens for a reason...just got to wait it out and see what that is. ... View more

ShanetheMortgageMan wrote: George2037 wrote: Well aparently the lender can't see the differance between 5 days and 30 days either.  Everything just fell through, unless I can find someone to lend me $155K in 18 days I'm pretty much screwed.   Gonna go have a case a beer tonight. Not all lenders require verification of rent.  Perhaps it's just a matter of trying to obtain a mortgage with a new lender.  Were you applying for FHA financing or conventional? It was a conventional.  Mt DTI is 4-5% off for many lenders right now, I got a raise but it hasn't showed up on stubs yet and it's still up in the air on how much (VP Hasn't signed off on it yet, he may adjust) but it's roughly 20-25% increase.  All is not dead yet if I can get proff of the raise by the 23rd but I'm not going to fight it.  If it's ment to be it will happen, if not I have untill June 30th to find another place. ... View more

Well aparently the lender can't see the differance between 5 days and 30 days either.  Everything just fell through, unless I can find someone to lend me $155K in 18 days I'm pretty much screwed.   Gonna go have a case a beer tonight. ... View more

No they don't report the the CRA's, but when asked for Rent Verification they told them I was late 12 times in the last year.   State of Mayland it's 5 days so on the 6th it's concidered late.  I get paid on the 5th so after work I drop the Check off at the Office and I guess since they don't get it untill the morning of the 6th I was concidered late.   I talked them into sending a letter that I have been a tenant since May '05 and how much my rent is, without mention of lates.  Still waiting to see if that was enough.   Forgot to mention that about two months ago they sent out a memo threatening everyones Credit if they didn't pay their rent.......I guess they didn't know that one of us has become a Debt Collection guru :)   If everything falls through because of them I have a nice letter ready for the local news, and a copy of the memo for all to read. Message Edited by George2037 on 02-15-2008 04:36 AM ... View more