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FIND YOUR DREAM HOME OR APARTMENT

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Feb 8, 2014 8:12PM
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lets complain... "bank of America" is not and never was, "wamu" turned into "chase", im not sure what plant that ones supporting, but it isn't this one. wells fargo is doing just fine locking you everyone's money. And the wall street numbers are higher than anytime in history. yet we are in recession mode and the only thing I see being built are homes apartment buildings and condo's. and it doesn't seem to matter which state your in...hum I wonder how the bank(s) justifies having huge inventories of homes already foreclosed on and a couple of years worth of paper mortgages soon to follow. and then turn around and finance new homes with first time buyer incentives like 100% financing no down payment? isn't that the first part of the wheel that came apart after the million for a billion deal burst the bubble???

we know the banks can screw with the curve on your credit scores they have been doing it for years..same old complaints, just a new day to bitch.

Feb 8, 2014 8:08PM
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lets complain... "bank of America", "wamu" turned into "chase", im not sure what plant that ones supporting but it isn't this one. wells fargo is doing just fine locking you everyone's money. And the wall street numbers are higher than anytime in history. yet we are in recession mode and the only thing I see being built are homes apartment buildings and condo's. and it doesn't seem to matter which state your in...hum I wonder how the bank(s) justifies having huge inventories of homes already foreclosed on and a couple of years worth of paper mortgages soon to follow. and then turn around and finance new homes with first time buyer incentives like 100% financing no down payment? isn't that the first part of the wheel that came apart after the million for a billion deal burst the bubble???

we know the banks can screw with the curve on your credit scores they have been doing it for years..same old complaints, just a new day to bitch.

Feb 8, 2014 7:55PM
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The real problem is the rules designed by our Federal Overlords are not intended to help real Americans who have been hurt.  I am a perfect example as I am sure many others are.  I've never missed a payment on any bills (in fact I've never had any bills other than gas, electric, water, sewer, trash, etc -- I carry no credit cards or other loans although I do use credit cards but pay in full each month).

I had a home that experienced a major structural issue not covered by insurance and was forced to move and return the no longer habitable home to the lender because it was no longer suited for occupancy (this was not neglect, a flood damaged the home and caused unrepairable).

As a result I am "unmortagable".  I can't buy a home because I have a steady job and always have.  If I snuck across the border two months ago our government would be bending over backward to help me.

It is far beyond time for our government to recognize that being an American matters and it is far beyond time for our banking system to recognize that faceless numerical spit out by a computer defines everything about a person.
Feb 8, 2014 3:57PM
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the whole problem is we can all complain about the situation her on th einternet. The real complaining should be done to our people in washingotn that took our money to bail out these banks that have screwed us. Lets start a grass roots effort to call our representatives and get them to fix the mess they created.

Anyone who would like to email me please do to get this started.

 

Thanks everyone

Feb 8, 2014 2:02PM
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The Banks seriously think their sh$t don't stink. They engage in risky portfolio gambles, fall on their asses while the WHOLE COUNTRY pays to bail their sorry asses out of the mess THEY created. WHAT A FREAKING JOKE! BOTTOM LINE! If your looking for a home loan this is what should be important. 1. got an income?   2. paying rent?   3. can you actually afford the home your looking at? i.e. payment,taxes, insurance(which by the way is usually cheaper than rent) and the homes history of utility cost.  *** THREE THINGS PEOPLE ALWAYS PAY FOR*** RENT, FOOD, WARMTH.

Feb 8, 2014 1:07PM
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I have an 811 (yes, EIGHT HUNDRED ELEVEN) credit score and I cannot get refinanced
Put THAT in your pipe and smoke it!
Feb 8, 2014 12:42PM
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Well lets see, how about late car and or minimal monthly credit card payments, along with excessive consumer debt, and a lousy work history. Then there's the fact you don't earn enough for the mortgage your seeking, you have little or no money saved to put down and you've  had a bankruptcy, foreclosure, repossession or all three. After all that you can always claim lenders are just singling you out and picking on you
Feb 8, 2014 12:28PM
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Here's a perfect example of the mindset of a lot of borrower's still till this day. I was Underwriting a loan a few days ago & while talking to the processor she stated the following.

1. The borrower doesn't want to give his employment phone number, he states the pay stub (dated 2 months ago) is enough & we're asking too many questions. Really???

2. The borrower doesn't want to explain the $30,000 deposit he had on his last bank statement even though his net pay check is direct deposited & only equates to $2800 per deposit. Really????

3. He thinks we should be able to use his sons income even though his son is not going on the loan, his explanation is it's his son & if HE can trust his son then we should too. 

Now this is obviously not the norm but c'mon people you qualified for the original mortgage once before, why act brand new to the whole game??? But this is what we run into every day. People want hundreds of thousands of dollars just on their "good looks" and don't want to lift a finger to obtain it. Forget the fact that fax machines have been around cheaply now for over 30 years, internet & copiers have been around affordably for at least 15-20 years. You don't even have to leave your house for the most part but this somehow is still "TOO MUCH TO ASK". 

If you have this type of attitude then you deserve to get turned down or run around. 


Feb 8, 2014 12:00PM
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What a bunch of bull!  I thought robo-loans were what burst the housing bubble in the first place? Aren't there stories of loan processors making jokes about applications with waitresses listing their income as $200k a year and such? 
Feb 8, 2014 11:14AM
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Don't bother.  Banks are too tight and will just deny your loan application.
Feb 23, 2013 11:18AM
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We will be using my husband's VA loan benefit,thank goodness.
Feb 23, 2013 9:11AM
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lol. even your automobile insurance affects your score, they check your credit history from once a year to once a month depending on how bad they want to raise your rates. a lot of people don't believe me on this but check who has been asking about your credit and see how close that auto ins. rate increase is to your drop in credit score. the poor will always pay more than the rich on every thing.
Feb 23, 2013 8:37AM
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Oh and I forgot to tell you. We have excellent credit, over 700 and we were treated that way.
Feb 23, 2013 8:31AM
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Look, my husband and I just went through a home loan and it was a disaster!! We have owned 8-9 houses in our lifetime and this was the first time we wanted to say "Forget it!" It was our own bank and they asked so many questions after banking with them for over 15 years. Any unusual money  deposited in your account, they questioned, including a garage sale before we moved and the proceeds deposited into our account. My husband buys and sell coins and wow, they asked about those monies deposited into our account. We rented until we found a place to buy and they wanted document after document from that. This went on for 45-50 days before we even knew if we got the loan although we were pre-approved. FYI...If you are planning to buy a home, start documenting everything that has to do with money coming in and out of all accounts (at least 3 months worth). If you rent while trying to find a place, make sure your rent receipts have all info on them such as for what month you are paying for or if paying the first/last/deposit. Last of all...they are going to make you sweat to the very last minute before you actually sign the closing papers.
Feb 23, 2013 8:24AM
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The secret to buying a home and keeping it , is to buy within your means. I made sure when I bought my home, under the first time buyers program in 2003 that I would be able to afford the mortgage payments ( which also an escrow account for my property taxes and home insurance) if I found myself on unemployment! Which I have been on several times since I bought my home but through thick or thin I am still standing! Also its better to have little good credit or no credit then a lot of bad credit! Look to see what First Time buyer programs are in your community, there are free classes that you will be made to take, to ensure you keep the home you purchase. If you previously owned a home you need to wait 3 years ( dont know if this has changed ) before you qualify for the first time home owners programs. Good Luck and dont give up your dream. If I had to do it all again I would look for a more rural setting that I could do more homesteading with less city regulations regarding chickens and roosters and how tall a "weed" ( not ) can grow...but thats up to you.
Feb 23, 2013 7:58AM
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If you have a low credit score you need to come with money. If your self employed you have to have money. You can't not make enough you just need to have the money to take the balance to what you are approved for in the loan. (If you are pre approved to 100k and the house is 110k you need 10k for that.)

There is a trend here. If you have the money then there aren't any problems. I'm self employed and my wife had very low credit after the 1st broker ran her credit 12 times in 45 days. After two different banks we walked into our home. If you want the home and can afford it you can buy it no matter anything else.
Feb 23, 2013 7:53AM
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We bought a home on a LIE in 2004 and were lied to by Wells Fargo agents, (who didnt lose their job) and were told that we could refinance at any time.  It was our first home, and we had payments that were very tight to our budget.  2200 a month was a lot of money so when the boom hit in 2007 and 2008 the bank would not refinance and as a matter of adjustment increased our mortgage to 3800 a month due to an adjustable rate loan.  They told us it could not go higher than 2 percent in interest, the lie was that it could go up 2 % per month.  We lost our home and had to declare bankruptcy, the home is still empty in Las Vegas.  We moved and now are starting over.  We did not live beyond our means but within our means, and now the banks get money from the fed to protect the fed but not the consumer.  We live in a rental home at 1500 a month and may not be able to buy another home for a while, do not think that all people are irresponsible, and when you buy DO NOT sign all they put in front of you, get an attorney to review the documents because they DO LIE and they DO it for their company that is worth billions.  Apparently millions of others bought the same LIE and are sueing and we will eventually win as the attorney has told us but it my be years before we see a penny and even then only 10% of what we put in.  This country needs a poor revolution of the rich when only 3 % of us are over 100 thousand in assets or more and the other 97% of us live below, the majority should re-invigorate the mass instead of cursing and complaining.  I am 50 years old and know that my future is only what i make it so make it a good one.
Feb 23, 2013 7:39AM
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Been looking for a home to buy for a long time now. Other than not being able to find a descent

home I can afford. I find out that there are four hiccup when I go for a mortgage.

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