Comments for credit meld info

Comment on How do I remove my father’s mortgage from my credit report? by Jennifer

Jennifer — Wed, 20 Jan 2010 16:20:29 +0000

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Comment on How do I remove my father’s mortgage from my credit report? by Quicken Loans

Quicken Loans — Wed, 20 Jan 2010 15:29:25 +0000

If you are on the mortgage, the mortgage will have to be refinanced to remove a borrower and the remaining borrower will have to be able to qualify for the mortgage by themselves.

Comment on How do I remove my father’s mortgage from my credit report? by bdancer222

bdancer222 — Wed, 20 Jan 2010 14:54:20 +0000

Are you actually on this mortgage? If so, it should be showing up on your credit report. If your name is not on this mortgage, dispute it with the credit bureau as not being your debt.

Is this really one of those situations where you and your father are both on the mortgage? Is your father paying the mortgage? If your credit is good enough, you can just get a letter from your father saying that he is paying that mortgage. If your new mortgage company won’t accept that, then, yes, your father will have to refiance to get your name off the mortgage.

Comment on Calif. How long can i claim the deduction of a mortgage credit certificate ? by Derrick

Derrick — Wed, 20 Jan 2010 13:57:45 +0000

typically 15 years.

Comment on How do I remove my father’s mortgage from my credit report? by src50

src50 — Wed, 20 Jan 2010 13:56:05 +0000

First you say it’s your father’s mortgage, then you say it’s yours. Which is correct? Whose name is on the loan note?

Comment on How do I remove my father’s mortgage from my credit report? by lepr0kan

lepr0kan — Wed, 20 Jan 2010 13:04:52 +0000

I’m a bit confused if you are on the mortgage with your dad than yes the only way to get it off your report is for your dad to refi. If it’s on your report in error you may send a letter to each credit bureau disputing that the mortgage does not belong to you, along with evidence that it is your father’s loan not yours. If you are looking to buy a home soon talk to a broker they may be willing to help with this process in order to get you a mortgage.

Comment on What type of interest can we get on a mortgage with mixed credit scores? by Jennifer M

Jennifer M — Wed, 20 Jan 2010 12:48:07 +0000

The one that makes more money will be considered the primary borrower and the loan will mostly consider that score. Since you guys have a year you should definitely try to increase his score!!

There are too many other factors to even give a close estimate of the rate. We need to know the loan to value ratio(CALC: Loan amount / Purchase Price) and if you are prepared to show documents proving your income.

It sounds like he has paid almost everything on his credit. Did you keep those accounts open? The length or your history is important so try not to close older accounts. He now needs to prove he is responsible and can make monthly payments. Take out a credit card/small personal loan (maybe you can co-sign for him) Only use it for an amount that can be paid off every month..AND pay it off! Pay EVERYTHING on time for the next year. Dispute any items that are inaccurate on the credit report. Send me a quick message and I can send you a sample letter that I give to my clients. Credit repair can be done on your own but depending on the severity you may want to contact a credit repair company/attorney. ((not the same as debt consolidation…stay away from those!))

Comment on How do I remove my father’s mortgage from my credit report? by beverley1156

beverley1156 — Wed, 20 Jan 2010 12:41:22 +0000

Is your Father living in the house you have this mortgage on? Is he paying the mortgage or are you? Can you afford 2 mortgages?Is there a lot of equity in the house you have the mortgage on?Answer these questions and I can probably advise you what to do.

Comment on What type of interest can we get on a mortgage with mixed credit scores? by See Saw

See Saw — Wed, 20 Jan 2010 12:21:56 +0000

Mortgage rates differ a lot and are based on your credit rating and the value of the home. Before approving your loan, your lender will scrutinize your credit history. There are two types of mortgages according to the type of rate: fixed or adjustable. Consult a mortgage broker or contact the lender directly asking for quotes. This lets you decide between both the varieties of mortgages.

Comment on What type of interest can we get on a mortgage with mixed credit scores? by Max J

Max J — Wed, 20 Jan 2010 11:32:11 +0000

Hello Mrs. Beetlebum, how are you. Since you already know where you stand credit wise the best thing I can tell you too do is open new trade lines of credit. When a lender reveiws your credit, they are not just taking the score into account but the strength of the trade line. In other words 1 year of solid credit card payments in better then none. Your score unfortuneately will matter soleley because Residential Mortgage like Personal Credit is fico based driven in other words, credit scores are taken into affect. You must understand, the subprime market is the biggest market for those who have issues concerning credit, however, it is also the market where anything is possible. When one has challenged credit, as we will call yours, rates can go as high as 15 to 18%, but occassionally you can find some lower, such as a starter rate of 6.9 to 7.5%, if you do your home work and you shop around. Some times this occurs when you have an arm, or so it did. However, based on what I have experienced on the lender in when I have reviewed a deal I have seen people get done as low as 400+ with 120 day rolling lates, 2 BKs, numerous charge offs, followed by many slow pays. So pretty much anything is possible. If you need more questions answered please let me know. I will be happy to assist you.

Max Jackson
Credit Analyst
Mr. Good Credit