-
Preparing credit profile for mortgage advice?
Posted on April 30th, 2010 2 comments
katya asked:
I have a good credit rating, and I need to refinance in early 2010 (because my mortgage payment is too high..I ‘d set it for 15 years instead of 30).
I am preparing: In order to clear my credit profile, I am paying off a large amount business debt on credit cards with a personal family loan .
2 questions:. How likely is a bank ( in 6 months time) to ask me how I did that?
2nd: I’ll be paying $ 1250 a month… I ‘m wondering will they see this in my checking account and suspect it is a loan? should I be making monthly payments to my family member with money orders so it doesn’t show
I am 1000% honest and just want to package myself right because if I don’t get this mortgage payment down, I could be headed for trouble.
I was told I do not qualify for mortgage modification because” I’m not in trouble” Seems only if you are in default, they’ll help !.
LucilleRenting & Real Estate Business Cards, Business Credit, Business Debt, Checking Account, Credit Advice, Credit Cards, Credit Profile, Credit Rating, Family Member, Money Orders, Mortgage Advice, Mortgage Payment, Personal Family, Qualify For Mortgage2 responses to “Preparing credit profile for mortgage advice?”
-
I have bought and sold two houses as a private individual. You should go to a book store and ask them about a book on realestate terms. so you can understand more of what they are talking about. A couple of things you should have is the lowest fixed rate,usualy 30 year you can get. you don’t want a variable rate that will increase on you. Also you should make sure that it is in your contract that you can make extra payments on the (principle only) at any time with your regular payments as an option, say in increments of 100 dollars. If you can afford to make the extra (principle only payments) your regular payments will start to go down when the recalculate your loan payments each year. you will also build equity faster, because you will be paying directly on the principle. Otherwise the first 10 years will be just paying on the intrest of the loan.
-
credit-report-score.10001mb.com – try this service. I use it to monitor my credit. As I know, they have such a service.
Powered by Yahoo! Answers
David April 30th, 2010 at 20:23