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re: Question About PMI/Home Buying (Update on pg 3)
Posted on 4/10/13 at 12:01 pm to LSUGUMBO
Posted on 4/10/13 at 12:01 pm to LSUGUMBO
Another thing, I made the biggest financial mistake of my life last January. I wanted to surprise my wife with a trip so I put the hotel on a credit card I never use. Well, I forgot to get online and pay it. Needless to say, I was getting letters in the mail, thinking they were just statements so I would shred them. Well, they were late notices and I didn't notice until 6 months later. Ruined my perfect credit and it now sits at 678 so I doubt I can do much of anything yet. Pisses me off that I could be so dumb to ruin my credit over $200.
3
Posted on 4/10/13 at 12:27 pm to LETSGEAUX2
Damn that sucks. I'm sorry to hear that but it happens to the best of us.
Did you try to explain the situation with the CC company? If not, call customer service and ask to speak to a manager. Explain the situation to him/her and ask if you they will do a goodwill deletion of the lates from your credit report.
Assuming that you paid them in full immediately after you discovered your mistake, there's a pretty good chance that they will delete them.
Remember, they gain nothing by destroying your credit but they lose out if they believe you are shell shocked and won't use the card again. It's literally a couple of keystrokes and mouse clicks to make the lates go away, but if you tell them what a huge favor it would be they'll likely do it in the interest of keeping you as a happy card user.
Did you try to explain the situation with the CC company? If not, call customer service and ask to speak to a manager. Explain the situation to him/her and ask if you they will do a goodwill deletion of the lates from your credit report.
Assuming that you paid them in full immediately after you discovered your mistake, there's a pretty good chance that they will delete them.
Remember, they gain nothing by destroying your credit but they lose out if they believe you are shell shocked and won't use the card again. It's literally a couple of keystrokes and mouse clicks to make the lates go away, but if you tell them what a huge favor it would be they'll likely do it in the interest of keeping you as a happy card user.
Posted on 4/10/13 at 3:08 pm to LETSGEAUX2
quote:
LETSGEAUX2
You can get an FHA loan. The PMI is pretty high and just became permanent for the life of the loan.
You can go with with single payment PMI, and pay for it out of pocket, or go with slightly higher rate, normally around .375% higher, but with your scores, the rate will probably be about .500-.625 higher to get out of monthly PMI
You can work with a credit cleaning company, many are bogus, but the folks at www.640.com are pretty legit and have helped a few of my clients.
Rural Development was mentioned, but you seem to make too much money for that program.
Posted on 4/10/13 at 6:06 pm to LETSGEAUX2
quote:
Ruined my perfect credit and it now sits at 678 so I doubt I can do much of anything yet. Pisses me off that I could be so dumb to ruin my credit over $200.
Do some research on "goodwill letters." The Credit Repair forum on MyFico.com is full of good info and you will even find a number of example goodwill letters. Look on their forum for "back door numbers" and email addresses for higher ups with the credit card company. You would be surprised at the number of people who get things removed from their reports just by being persistent.
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