Credit Score; how long do I need to wait?
I am a couple of weeks away from applying for a mortgage. I have worked really hard of the last year to improve my credit rating, but stupidly applied for a credit card and opened a bank account in a short space of time.
My credit score was recently “good” however, I just checked my score and it had gone down several points to “average”. This was due to 2 credit searches in the last couple of months which have now left a negative foot print on my history. I am now worried about the possible effects of this on my mortgage application. One of these searches was a result of opening a bank account with my future mortgage lender.
My question: how long does it take to improve my credit score after my last credit search? Is is on a month basis or do I have to wait an entire year for the searches to be deleted from my credit file?
The bank account did not report to the credit bureaus.
So do not worry about this.
And, all you did was open 1 credit card.
Just make sure you pay it in full each month. Do not dare carry balances.
Consider not using it 1 full month before your credit is checked.
Have a $0 balance.
Something tells me that you are starting to carry high balances on that credit card and not paying it in full each month.
Keep usage low. A tank of gas (petrol) a month, and pay in full when you get the bill in the mail. Not the minimum, not more than the minimum, but in full.
Carrying balances can cause serious damage to credit scores.
The inquiry is extremely minimal. It will drop off your score in 1 year.
Government Matching questions? 10 points?
This is not graded, it is just an assignment. Don’t tell me to do my own homework. 10 points go out to those who help =)
1. Just as government makes the rules providing for safety, it must
2. Early goldsmiths made ornaments of jewelry and
3. Money made by unauthorized persons is called
4. In addition to coins, the government prints paper bills
5. America had no banks such as we have today until
6. The first bank of America was chartered by
7. More business is done with
8. A company may transact business that involves
9. People accept checks because they know
10. A check can be cashed only after it is endorsed, or signed, by
11. One of the important functions of a bank is that of
12. A spoken contract has the disadvantage of being no better than
13. A deed is a form of written document by which one person
14. Some states require a bill of sale to be given when
15. Written permission to sell property to pay a debt is known as
A. serious losses of property may be avoided.
B. generally perform services under contract.
C. they can take them to a bank and get money for them.
D. the person to whom it is made payable.
E. lending money to business firms.
F. the memories and honesty of the parties concerned.
G. the state of Pennsylvania on application of Robert Morris.
H. checks than with actual money.
I. make and enforce rules for conducting business.
J. served as the first “bankers” by storing and lending money.
K. after the Revolutionary War.
L. or certificates, which are commonly called paper money.
M. counterfeit, and prison sentences await counterfeiters.
N. millions of dollars a year and never handle large sums of money.
O. a mortgage.
P. automobiles, branded livestock, and certain other kinds of property are sold.
Q. transfers the ownership of lands and buildings to another.
PLEASE HELP ME! I have SO much on my plate right now. I don’t need to deal with this un graded assignment.
Ithink these are right but check them.
Refinance the House?
I am living in Silicon Valley, California. My brother bought the house as an investment property. (My parents and I are living there and paying him the rent as mortgage.) The loan needs to be refinanced in September.
Q1: I would like to add my name on the title. Should I go through the Title Company to add my name on the title? I talked to the Bank. They said that I would be better to go to the title company to add my name. The reason is that when my brother and I need to do the refinance, we still need the title company anyway…
Q2: Refinance. Any advise?! I have heard about Good Faith Estimate. I know it is good to get. Can’t I only get one after I fill out the application with the bank? In other words, if I don’t fill out the application (without having them to check on my info with my ssn), the bank WILL NOT issue the Good Faith Estimate. Isn’t that true?
Q3: How’s the interest rate? Has it been going up?
1. Adding your name on title is simple in nature but your brother needs to quit claim you on, if he is in agreement then there is no issue.
2. If you refinance the land and you are on the application then your name will automatically go on title.
3. Every application comes with full disclosure, including a good faith, and rates are very stable, but the forecast is increasing rates by years end
4. If you need help email me, firstname.lastname@example.org, I am a VP for a large Mortgage Company
How to explain late rental payments to the landlord of a house we are interested in renting?
Here’s the situation- we currently live in a mobile home that we are buying rent to own through a trailer park. We have a mortgage payment for the mobile home as well as Lot rent. We have lived here for 7 years and the last year and a half we have made late payments- I lost my job – we got behind on everything and everything just went downhill. We recently decided to look for a house to rent with my aunt because shes having a hard time right now also but she does pay her rent on time every month where she’s at . I figure with her income as well as my fiances we could all help each other out for now.The people we have the trailer through right now said we could either turn it back over to them or sell it but we would have to pay lot rent until it sell’s. I am so depressed because when the future landlord calls her to get a reference she’s going to tell him we have been late the last 1.5 years. How could we explain this to him, do you think he would even consider us. I had my heart set on renting this house but I talked to him today and he said he needed us to fill out an application so he could ” check a few things”- and were going to give him some money to hold the house for us . Would he accept our money before checking the rental history if he were going to say” sorry your rental history is crap”.I know this is a long question but Im just confused and dont know what to do . Please nothing rude- I really need help!!!
Landlord—- I didn’t keep the landlords money- we paid her late.
“Whenever money was a little tight I felt entitled to keep the landlords money.”
Three credit bureaus won’t allow me to view my credit report?
I just turned 18 and I tried to open a checking account with HSBC. However, to verify my identity they asked me a particularly odd question,about a mortgage taken out in April 2008. They asked me to name the account provider and amount paid. I became curious,and decided to perform a credit check. When I filled out the application they too asked me the same question, when I was unable to answer. They told me I would not be able to view my credit report online.
Can someone,take out a mortgage using my social security number, even though I was 17 in April 2008? If so,what can I do, how will this affect my credit? Where do I go to find out additional information? Who would I report it to?
IF someone did that (and yes.. People do that, which is what id theft is all about), it will certainly mess up your credit.
Call again and ask to talk to a supervisor. You need to report this TO THEM and, probably in writing, with a copy of maybe your driver’s license (that will show your age). State in the letter that you have reason to believe that there is fraud on your account, and why.
Legally, you have reason to get a copy of the information that will exactly identify the loan which is using that number. Since it apparently involves someone buying a house, that is big time fraud, not just against you, but against whoever they got the loan from.
Obviously.. If someone used your number for a home loan, you WOULD NOT have the info to answer any question about the loan. That’s the whole point.
You may also want to be talking to your police dept if they have a fraud/ id theft unit.
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