Finding a house....my story...let's hear yours.

[Guest]

I just got a call from a farm I had inquired about...only two bedroom ...no basement...but some possible outbuildings. 20 acres fer the ponies......fixin' to go check it out.....

P.S I realize I have some PMs...and am trying to get my post count up to see em...

 

[Julian]

Well, while most assume purchasing is a combination of credit, income, assets, etc, really, it varies depending on which your strength lies in....

Credit?......Credit is very misunderstood.

Your credit score today is only your credit score today, and, has nothing to do with tomorrow and a lot of people take "today" and assume that dictates ones entire future.....

Negative things can drop off credit report with time, or, remain, and, their significance is reduced...positive things can eventually outweigh, etc...lot of possibilities, but, in most cases, 6 months or a year (actually sometimes 90 days, but, giving high end) one can completely turn everything around....and, if one has had problems in the past, they can actually do a lot of work to fix creditors....

BK's really don't matter anymore after about 4 years or so...(actually, one can get a mortgage 1 day out of a BK, just has to be a greater down payment....)

No verifiable income? (shame on you btw ), no problem, they have loans made just for you (no income verification, no employment vcerification, no asset verification, etc )

They got em all

Probably best thing to do is to find a mortgage broker (not a bank....banks rarely have any "creative " products.....although they can get creative for preferred customers....most of the time they really offer nothing else...)....give them a call, say your "thinking" about it, not sure what you need, if you can even do anything, and, if you can't today, what would they suggest you do to ensure you can 6 months or a year from now...and, feel free to tell them a glimpse of your situation...(They've seen it all trust me, not a surprise......the guys I deal with wouldn't bat an eye if you told them you got your money from contract hits, running an escort service, smuggling arms, etc (I mean, everyone needs a home, right? (but, don't tell them, exactly )....

But, surely you get the point from above...today is just today....you check first, see what can be done, and, if nothing today?, well, then, you see what you have to do to make it so you can in the future.....

Not a problem

Could be as simple as just getting a few credit cards on time, paying em, etc.....(or, you could also have good enough credit.....you wouldn't be the first person to assume they have "bad" credit, and, find out they can buy something tomorrow.....

Really, in the end, it's usually just a matter of rate.....

(There are literally thousands of different loans from hundreds of lenders....)

 

[ItsGrowTime]

In addition to my MJ hobby, credit is my second hobby. Repairing your credit is actually quite do-able if you have the mindset to succeed with it. There are wonderful resources on the internet for repairing and/or maximizing your credit. Feel free to PM me if you would like a referral or any in depth assistance.

 

[Julian]

I've done same many times for friends, and, think people don't really understand credit, or, realize how simple it is to correct, or, from a conversation with someone, how to handle creditors.......

Very misunderstood as a whole.....

Examples:
1. Many creditors report recent activity on older events (called "re aging, and, illegal), meaning an account put into collections 1/02 will be reported as "last active" 07/07.

This will either be corrected and you will be re scored or it will be completely removed and you will be re scored...(I did this for a friend, and, even though it should have remained another 2 years...they completely removed the account from report..)

2. People should be aware all states have a statute of limitations for debt..(even IRS has one.....10 years from date of filing I believe....)

3. Majority of all collection activities is in violation of federal law.....

A "cease and desist" letter should stop all contact..(sent fax and also registered mail...any further attempt at contacting you is indeed a violation of federal law and carries around a 1k fine per offense, and also your court costs....)

(plastic?...revolving debt?...they really can't do anything...they can if they like file suit, obtain a judgment and a possible lien, wage garnishments and such, but, in most cases, will not...depends on your assets and financials....)

Bottom line?.......one can go from a 490 today (absolute shit) to a 700 (very good, about all you need) in 12 months....(The guy above who I made some letters for him to bureau's went from a 520 middle score to a 720 in about 11 months

Credit is only today...has little to do with tomorrow, next year, etc.....

Very simple...you obtain all 3....address, send letters to all 3?....if correct.....done deal...(my guy above.....I sent letters and got like.....I don't even know...15 negatives removed for the guy in 30 days ......got 3 low limit cards....done deal....guys good now......)

Edit: VERY good business for someone well spoken and organized btw.....$500 or whatever per person...takes you an hour to review reports and send letters......very good one...thought about setting some people up in such a business......

 

[ItsGrowTime]

Be careful with the business side of credit repair Julian. The Credit Repair Organizations Act put a big dent in that type of business activity and practically neutered anybody who is in it for profit.

 

[Julian]

Eh, not familiar with it but not concerned....(if pursued I would make sure I went through all regulations)

I know that a major problem was all people making claims which were inaccurate.... (can "fix" credit.....) and, know a lot of people were creating new socials basically and stuff like that....

Nah, I'm good....I have several highly regulated business's.....too much money within the letter of the law to risk anything....

(I've of course never charged anything...was for friends and family who were overwhelmed, so, someone's gotta do it, ya know?.....Paperwork not something that phases me......(credit reports, some letters? that's nothing in my world...I have files on ongoing projects that are equivalent to several phonebooks , so...

Just something that has been in back of my mind, waiting for someone who can handle it (and, who can use it....)

Always a way to structure things

Edit: Yeah, to anyone reading this......there is nothing that anyone can do that you cannot do for yourself..., and, no one can "promise" anything also.....(in some cases, there may very well be nothing one can do except pay some things off or let them roll off........)

Note: If one has any issues with charge offs and such, they are best left alone...addressing them in many cases can possibly even hurt and lower score.....and, also, balances reduced will always make score raise...(ie: you have 5 cards maxed.....if you pay all 5 down (or even consolidate them to another card and transfer balances, etc) they will go up...

NOW.....

Another thing many should be aware of:
NO ONE KNOWS what events scores actually represent......so, no one knows what any given action will equal as far as scoring (and, 3 different bureau's also, which is why mortgages refer to "middle" score....they use the "middle" score....)...so.....(of course the reason this information is not shared is because then if it could be manipulated, it would of course not be an accurate reflection of someone, since they could manipulate it one way or another...

Anything good helps

Anything bad hurts all to varying degrees...

(and, likewise, not all ":good" things help...(ie: cancelling a credit card when paid in full instead of keeping it active, etc...)

Immense subject probably best left alone

(of interest to people: I have seen in 15 years tens of thousands of credit reports and only a handful above 800.....so.......if your over 700?...your basically fine.....700-725 or so really all one needs in life to get what they want......so, someone in mid 600's?.....your fine.....don't mess anything up and time will find you into 700's, etc....)

 

[Guest]

The Search is Over !!

The Search is Over !!

I think I drove at least a thousand miles and bought a hundred newspapers ...before my quest ended.
perseverance paid off...3 BR/ basement, barn and acreage (less than 10)for.....(drumroll please)....550 a month.
The LL is a dear old woman who just wants her rent money on time, no inspections, no bullshit. She is cool with the arkload of furry critters as well.

 

[smurfin'herb]

Nice man! im happy for ya. Im in the same position now. I need a 3 bedroom for around 700/mo. But the only thing thats slowin me down is the fact that i need to find a landlord that smokes, so that if he did just pop in on me one day and see the plants, then it would be more likley that he wouldnt kick me out or call the cops. I am having a very very hard time with this. Any suggestions? I thought about just renting a place and saying that i am very private and i do not like to be bothered, but that still doesnt mean that the landlord or his workers wont stop over to fix something, or whatever. How do all you renters out there deal with this issue? Do you think apt. complexes would be a good idea since theres like 300 apts. in one area owned by the same person/people and that may lower chances saying that there is so many of them that nobody bothers with your unit? i need some suggestions/answers pretty bad, my current lease is up in 8 days!

 

[Guest]

Nice man! im happy for ya. Im in the same position now. I need a 3 bedroom for around 700/mo. But the only thing thats slowin me down is the fact that i need to find a landlord that smokes, so that if he did just pop in on me one day and see the plants, then it would be more likley that he wouldnt kick me out or call the cops. I am having a very very hard time with this. Any suggestions? I thought about just renting a place and saying that i am very private and i do not like to be bothered, but that still doesnt mean that the landlord or his workers wont stop over to fix something, or whatever. How do all you renters out there deal with this issue? Do you think apt. complexes would be a good idea since theres like 300 apts. in one area owned by the same person/people and that may lower chances saying that there is so many of them that nobody bothers with your unit? i need some suggestions/answers pretty bad, my current lease is up in 8 days!

It took me at least 3 weeks to find the "perfect" house. I have to have a basement...and room for dogs, cats and horses and a landlady that would not bother us.
In my area, if you act like you want to be private...they suspect a meth lab right away.
It helps to be handy, tell the LL you used to do maintenance work somewhere...make it up, and when something breaks, fix it yourself, or at least if you have to call a pro, you do it on your own dime....that is just the way you have to do it in a rented house.

I don't know what you look like, but it helped us immensely to get cleaned up. Granpa looked pretty scary with his big ol beard...I had long, witchy hair, did not wear make up. We decided to clean up our appearance ...and the next place we looked at..we cinched it. Found a LL who wanted references in the ad, but after talking to us for 15 minutes...said she could tell we were good honest people and did not need to see them. She was the one who brought up the fact that she does not bother her renters unless they are late...she would rather you call a pro to fix something and send her the bill.

I found it, but I am not exaggerating, it took three weeks,endless hours driving to every podunk town I could get to...buying newspapers....knocking on doors and asking about empty houses.

No no no to apartments unless you are small...in a cab or something.(monthly bug sprays)
No rental agencies...no real estate agencies. Rental agencies will pop in an ya..and real estate companies that rent..will do the same.
You have to rent from a private owner....

 

[smurfin'herb]

yep thats what i thought, i guess there is no other option rather then to buy. Well thanks for the tips. turns out that i really am a handyman so thats covered,and i look like a normal clean cut person, but i think i will take my industrial earring out just in case. older folks hate piercings (especially a bar in your ear!) Oh and i forgot to mention that my car died a week ago and i dont even have a way to go look at houses so im so screwed.

 

[badboyg]

^^^^^^ SWEEET!!!!!! ^^^^^^^^


sorry this was NOT aimed at smurfin'herb... but the good news from granma....

 

[Guest]

Maybe not so screwed...

Maybe not so screwed...

Are you looking in an area that you can get to by bus or walk?

How big a grow do you want to do ?

single dude or whole fam damily to worry about..i.e. kids and schools and crap.

Pets? No pets makes it easier....

Like I said before...I feel that a basement is 100% a necessity if you want to be safe and at ease...

If I were a single dude...I would have no problem finding something...

Two bedroom house....tell em you get your kid on the weekends and need a second bedroom...hopefully it has a big walk in closet...if you wanna go bigger...fill the whole room...

 

[smurfin'herb]

im moving with my best friend. I need him to move with me cuz a 2 bedroom is like 550-650 and a 3 bedroom is like 650-800 and up. So if i get a three bed for 700/mo me and my friend each pay 350 but me livin by myself in a 2bedroom for 550/month, then i would have to pay all of it. So i need a 3 bed, plus i like having a roomate, i get bored otherwise. (no pets, no family,no girl. It sounds worse than it is. I travel with friends and do stuff all of the time and never have to worry about being drug down or having to finacially support someone. Its really nice being able to be free! Mary jane is my girl! lol

 

[Guest]

im moving with my best friend. I need him to move with me cuz a 2 bedroom is like 550-650 and a 3 bedroom is like 650-800 and up. So if i get a three bed for 700/mo me and my friend each pay 350 but me livin by myself in a 2bedroom for 550/month, then i would have to pay all of it. So i need a 3 bed, plus i like having a roomate, i get bored otherwise. (no pets, no family,no girl. It sounds worse than it is. I travel with friends and do stuff all of the time and never have to worry about being drug down or having to finacially support someone. Its really nice being able to be free! Mary jane is my girl! lol

no worries....you just need to get your walking shoes on..
me, I am packing...hooray

 

[smurfin'herb]

You hit it on the spot granma! I just need to be free for a while to do what i want and get out there, you know? thanks for understanding where im at!

 

[mapleboy]

I had the problem of finding killer houses and applying (my paper income was about 6k a month) and people kept getting the houses that made 12+k (high housing demand(high income area)), so after 2 months of searching and applying gave up and went with an apt as a temp.

ONE WORD...


MOVE!!!!

 

[Guest]

Good advice in post #23

Good advice in post #23

From Julian.
I found a mortgage broker online...he called me this A.M...
He is going to pull a credit report om myself and granpa.
I think I may have been very naive all these years about how things are in Big Brother's world, I should have done this when I had 10,000.00, not 2,500.00

 

[Guest]

Granma

You know what you need to think about doing? Become self employed…get yourself an in home business…even if it’s completely bogus. Make deposits into a bank account in your business’ name & keep your credit card’s balance low or zero & pay them on time. This will help with your credit report. Then save every dime you can for a down payment on some property. The key to owning your own property is to have that down payment & be able to show (on paper) you have the ability to make those loan payments.
Don’t wait to get too many more years under your belt. It’s nice to be able to write off the interest from your real estate loan on your taxes rather than sending rent money off to someone else never to be seen again.

Good luck to you!

Bh

 

[Guest]

Granma

You know what you need to think about doing? Become self employed…get yourself an in home business…even if it’s completely bogus. Make deposits into a bank account in your business’ name & keep your credit card’s balance low or zero & pay them on time. This will help with your credit report. Then save every dime you can for a down payment on some property. The key to owning your own property is to have that down payment & be able to show (on paper) you have the ability to make those loan payments.
Don’t wait to get too many more years under your belt. It’s nice to be able to write off the interest from your real estate loan on your taxes rather than sending rent money off to someone else never to be seen again.

Good luck to you!

Bh

I am self employed...and that is what I plan to do....

 

[Julian]

The key to owning your own property is to have that down payment & be able to show (on paper) you have the ability to make those loan payments.

Actually, I try to stress that it not really the case (although what people believe....)

Really, starts with credit.....

Good credit and someone could not only go "no doc"...or "stated", but, can do so no money down, and, even further, can even get seller to kick in closing costs for them.......

One could even be unemployed with good credit and go no money down stated/no doc and have seller kick closing costs.......