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Established Contributor
thankfulheart
Posts: 619
Registered: ‎09-26-2011

Re: (Hopefully) My Journey to Homeownership

What a difference a day makes!  Walked into my CU this morning and walked out with a personal loan to pay off the balance of the mortgage on the marital home at the same interest rate, but  a longer term, bringing me under the backend ratio!  I will also now be able to exclude the tax/insurance on that house since I will no longer be on it.  Woo-hoo!  AND, using the same inquiry, the CU gave me a CLI on my Visa and lowered my APR!! Double woo-hoo!  They had given it to me back when I was still in the high 500s at a $500 CL and they bumped me to $3,000 today.  I'm still stunned.  My LO is thrilled as is the UW. Said I "did good".

 

So, it looks like we are still on track for a mid-July ground-breaking and an ontime, late September close.  My stomach is much happier today.

Starting Score: 10/1/2011 EQ 568 TU 593
Current Score: EQ 664 TU 700 EX 701 (FAKO)

Regular Contributor
dekelley1
Posts: 140
Registered: ‎12-22-2008

Re: (Hopefully) My Journey to Homeownership

You are a truly embattled warrior!!  Great job.


Starting Score: 615
Current Score: Lender pullEQ 667, TU04 698 TU98 644, EX 660
Goal Score: 700


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Established Contributor
thankfulheart
Posts: 619
Registered: ‎09-26-2011

Re: (Hopefully) My Journey to Homeownership

2 steps forward, NO steps back this time!  Got my loan docs, signing them tonight and putting them back in the mail on Monday. It's finally starting to feel real.

 

The problem student loan consolidated, so now I'm just waiting for them to apply the IBR to it. 

 

I'll go Monday to get/mail the cashier's check to payoff the marital home back in Ohio where I also have an attorney working on filing a quit claim deed to get it off my back once and for all. 

 

Tomorrow, I'll be dropping off the rest of the downpayment at the builder's office.

 

Starting Score: 10/1/2011 EQ 568 TU 593
Current Score: EQ 664 TU 700 EX 701 (FAKO)

Established Contributor
JusdoNit
Posts: 921
Registered: ‎12-10-2011

Re: (Hopefully) My Journey to Homeownership

Full steam ahead:smileywink:


Starting Score: 722
Current Score: Now 687 what the hockey sticks...from a 784 (Aug 12 EX 751 EQ Fico)
Goal Score: 800

If your outGo is more than your INcome than your UpKeep will become your downFALL.

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Established Contributor
thankfulheart
Posts: 619
Registered: ‎09-26-2011

Re: (Hopefully) My Journey to Homeownership

Dropped off the check for the last of my downpayment with the builder and signed a change order for FHA rather than the USDA I had orginally planned.  They said I am next on the list, so hopefully will be breaking ground in the next few weeks. I still have to have my meeting with the builder to go over the final plans, so I'm impatiently waiting for that.

 

Paid off the mortgage on the marital home.  Feels very strange emotionally. Don't quite know how to describe all of that.  That home was where my children were born. I designed the kitchen addition from the ground up and helped build it. My home office there was perfect.  It's hard to let that go.  I'm still waiting on the quit claim deed that my attorney is drawing up so I can finish getting my name off of it.  I did send over the payoff paperwork and such to the mortgage folks.  She said she would be getting a credit supplement for that for the UW.

 

STILL wating for the student loan consolidation and IBR thing. I cannot believe how long this is taking.  It's been over 90 days now and is downright ridiculous.  I always get some friendly, perky CSR who tells me it's "in process" and "should only be another 48 hours".  10 days ago. Right.  Very frustrating as it's the other big hurdle I need to clear right now.  I just need the documentation so we can move forward to UW once and for all.

Starting Score: 10/1/2011 EQ 568 TU 593
Current Score: EQ 664 TU 700 EX 701 (FAKO)

Regular Contributor
jules0580
Posts: 155
Registered: ‎05-13-2012

Re: (Hopefully) My Journey to Homeownership

Good for you! Congrats and good luck with the rest!

Established Contributor
thankfulheart
Posts: 619
Registered: ‎09-26-2011

Re: (Hopefully) My Journey to Homeownership

{hates working 3rd shift}

 

While I was asleep yesterday, the credit company called to say they needed to do a conference call with the former mortgage co. for the credit supplement. Since I missed the call, I will have to wait until Monday for that.  Never done one of those before, so will be a learning experience.

 

NelNet got 1/3 of my loans consolidated and finally applied IBR to it. Kinda. Sorta.  The amount is wrong and once all 3 loans are inhouse, it will get fixed, but it's the best we can do for now.  They are saying another 30-60 days to finish the consolidation, so basically 6 months from when I initially applied.  RIDICULOUS.  I've emailed the ombudsman to see if they can help at all as it has been a nightmare.  Then, I can't seem to get ACS or Direct Loans to report correctly.  ACS is PIF, and DirectLoans is reporting a $2 balance on a loan that was PIF ages ago, but for some reason showed another $2 owing, so I paid it back in February.  I figure I will die of an ulcer before my student loans are paid off at this rate.:smileymad:

 

For kicks, I wrote letters to my former state representatives asking them to follow the IRS example regarding paid tax liens.  Seems unfair to be put in a "debtor's prison" for a 7 year term on a debt that was PIF within a few months of the lien being filed (which was as soon as I learned of it).  We'll see if that does anything.

 

I'm also considering GWing the old mortgage company as they are the only other real baddie on my CRAs. Now that they are PIF, I'd like them to delete the tradeline altogether (there were extenuating circumstance, including a FEMA event).  I'd love for a pre-closing pull to have an even shinier credit report (and I'm still gunning for a great Lowe's CL!).

Starting Score: 10/1/2011 EQ 568 TU 593
Current Score: EQ 664 TU 700 EX 701 (FAKO)

Regular Contributor
jules0580
Posts: 155
Registered: ‎05-13-2012

Re: (Hopefully) My Journey to Homeownership

I keep reading about go letters. What exactly is at, is it asking a company as been paid in full that has previous bads to delete? Does this work usually I would love to get that off my report. Can u give me an idea of what u say in them? Any info is greatly appreciated
Established Contributor
thankfulheart
Posts: 619
Registered: ‎09-26-2011

Re: (Hopefully) My Journey to Homeownership


jules0580 wrote:
I keep reading about go letters. What exactly is at, is it asking a company as been paid in full that has previous bads to delete? Does this work usually I would love to get that off my report. Can u give me an idea of what u say in them? Any info is greatly appreciated

A good will letter is a request for the OC to do something, whether remove negative notations or the tradeline altogether.  Basically, I just explain what happened at the time so they can see that it was a one-off event and ask nicely for them to forgive me.  I have GWed the mortgage company before, but they insist that they must report accurately (I get it). The thing is they are NOT required to report at all, so hoping for a TL deletion.  Several other companies have removed 30-60 day lates for me via GW letters, so it does work.

Starting Score: 10/1/2011 EQ 568 TU 593
Current Score: EQ 664 TU 700 EX 701 (FAKO)

Regular Contributor
jules0580
Posts: 155
Registered: ‎05-13-2012

Re: (Hopefully) My Journey to Homeownership

awesome thanks!


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