Re: Compromise Sale Reporting[ Edited ]
11-16-2012 06:42 AM - edited 11-16-2012 06:48 AM
An unsecured from Navy Fed is a definite possibility. The only downside of that is, from my little bit of research, that interest rates at NFCU are 12% on unsecured. Which is actually decent for a non collateralized debt obligation, but on the amount I expect to need it will be a bit too much. (I'm enlisted E-6, but single. I do okay money wise, but not well enough that I could take a 20k loan with any term less than likely 48 months)
The VA will charge me interest @ the rate of my mortgage. I know it sounds like I'm trying to have my cake and eat it too. I'm definitively considering some unsecured loan to pay the difference. The most important lesson I've learned with credit is "if you signed you pay (as long as you are capable)." There are valid hardships, and I know better than to think I'm one of them.
I think the house is marketable (I'll be paying out of pocket for a home inspection before listing, and fixing whatever I can afford to.). I owe 210k, and desktop comps set ask right around 200, but with expected downward price action. I think my loan to value points towards renting it out for 1-2 years and rechecking the market, ugh it's a stressful situation at any rate.
The item in red: I wouldn't expect anything less
What about a NFCU Platinum card? The plat has really low interest rates... Lower than my NavCheck or Cash Reward card.
You could ask them to change your existing card over to a Platinum card and give you a really good rate on it. Also, you can ask for a CLI, they might bump you up to 15k or 20k as a credit limit. That way you don't have to apply for new credit.
My card with NFCU was opened in march and they started me with 22k which is a crazy number. My husbands scores were in the toilet and they started him with 4k in June, which was recently increased to 7.5k
My husband was discharged E-5, and was a "grunt" machine gunner 2nd battallian, 4th marine. Do you have any retirement funds that you could take a loan against?
Also, check out Discover Personal Loans... They sent me a pre-approval flyer for loans up to 25k at 7.9% Their term can be as long as 84 months.
Your scores are very good, there is no reason why you couldn't get a decent rate on a personal loan
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