Mortgage Loans

[ShanetheMortgageMan]

Not sure if anyone noticed but the original post was from 10 months ago, and the original poster hasn't been on the FICO forums since 04-09-2008 12:30 AM.

[Dallasgirl]

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ShanetheMortgageMan wrote:
Not sure if anyone noticed but the original post was from 10 months ago, and the original poster hasn't been on the FICO forums since 04-09-2008 12:30 AM.

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Yep, I noticed.  Hopefully, all went well with their wedding last August and they are now comfortably residing in their new home.  Lots of great comments, though!

[Lel]

Yeah, this is yet another revived thread thanks to myFICO's Valentine's Day newsletter. I think there have been more recent discussions about relationships and credit.

[LisaJ]

Ok; I feel very stupid.  LOL.

[Bspencer1983]

While the situation you are in may be true for most banks it is not so for all. My credit is only in the high 5's to low 6's. I had a child right out of high school and had difficulty paying for everything myself. In the year after his birth I had almost every bill I had sending me to collections. Its been 6 years and I am still cleaning up my credit and paying off old creditors. My fiancés scores are much higher than mine and he has no negative items on his credit. I make more money than he does however. We purchased a home 4 years ago with an interest rate of 6.15% then my credit was in the 4's. We refinanced that home last year and were given 6.0% fixed rate this time. My credit was mostly in the low 5's. Now my credit is still horrible and I am in the high 5's low 6's and we just purchased a second home and received a rate of 5% fixed for 30 years. We had at least 15 places tell us we could not buy our first home, then they told us we could not refinance our home, then they told us we could not buy another home. And we researched and spoke to many many different places when we finally found one who could work with us and get us the rate we wanted even with my horrible credit. I currently have a mortgage through Taylor Bean & Whitaker and went through a great broker used to be Mid Atlantic capitol but is now

Primary Residential Mortgage, Inc. We have had great luck with them and they have done wonders for us. We have had decent rates every time we have used them. Keep shopping around and remember that a lot of the big banks and mortgage companies are the ones having trouble so it might pay to go to a smaller company. Shop around before you decide who to use.

[cavylove]

If he got married, I sincerely hope that he followed the great advice given.  If I had to do my life over again, I would have waited to get married.  I, nearly 20 years later, am separated and trying to repair my credit for the second time.  The actuarials that have studied the data know what they're talking about.  Oftentimes the one with the better credit, out of love or emotion, would have a tendency to bail out the one with a lesser FICO score - putting self at risk.  In my case, my spouse came from a two-parent home where both parents earned a good salary putting the household on the higher end of middle-class.  Yet despite their incomes, their warm generous hearts often incurred large amounts of debt -personally and for others.  In a nutshell, because of the family dynamic, we ending up bailing them out from time to time on a bill (whether I agreed to it or not).  Impatience, poor judgement and indulgence are a recipe for disaster. 

 As I said before, if wedding 08 did get married, good luck! 

[ShanetheMortgageMan]

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Lel wrote:
Yeah, this is yet another revived thread thanks to myFICO's Valentine's Day newsletter. I think there have been more recent discussions about relationships and credit.

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Makes sense, this was the second thread in as many days that I was tricked on.  I thought something odd was going on.