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18Comments
my05dodge
Mar 28, 2012 4:21PM
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navygirl0981;  I was told a long time ago that they cannot refuses any reasonable amount.  Check with a lawyer.  If they refuse any payment you may be able to tell them to stuff if.  Not sure but it is worth it to ask.
zizzy253
Mar 28, 2012 10:40AM
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How do lenders expect people to pay down their debt when so many are underemployed with wages that barely cover the basics of food, shelter, car insurance/repairs.  My credit report is a mix of past medical bills and a student loan, not frivilous spending on unnecessary goods. As long as wages are low and people are unemployed or underemployed we will continue to remain in this stuck place. Would like to own instead of renting "our" current home. Everytime I look into a solution the same advice, "fix up your credit, pay off debts" oh wow never thought of that one. This article is a phoney waste of time..go screw yourself MSN!
Mike Fuller
Mar 28, 2012 5:43AM
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With election soon, We can hope for that REAL HOPE AND CHANGE
saph500
Mar 9, 2012 8:56AM
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Lets get this right ! Obama did not bail out the banks Bush did ! And what about  Ben and the FEDs they are the true devaluers of the US dollar! The things banks are doing with their free money at the fed window is doing nothing for homeowners who did everything right and never been late in anything? We are all underwater ! Where is our bailout LOL ! The banks should knock off 20-30 % off our principals ! Its nice for a bank to get their PMI insurance that almost all the loans were and collect and lose nothing and then sell that same home that was foreclosed on for 2000 dollars ! When the mortgage was 150.000 to start with thus killing all of AMERICAS PROPERTY VALUES! < WAKE UP IDIOTS... Its time for our useless congress to make a law that banks cannot sell a home that was foreclosed on for less than 10% of the value of the mortgage that it was forclosed on ! Thus saving yours and mine home values ! And the tax base ! But then congress does not work for Americans , just banks and rich pukes!
Ano y mous
Mar 3, 2012 5:22AM
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@Smartgurlzrule. I agree with some of what you say about people should grow up and pay their bills. Most of the people who are complaining about their financial situations causing them to be unable to get a mortgage is because of our economy pushing us into lower income or unemployment.

  Did President Obama tell the banks to GROW UP and take their bad loans and deal with it? Did he tell them well, thats business? No. He bailed the banks out with taxpayers dollars. Now the banks dont want to lend us taxpayers our own money back. Instead of bailing out the banks directly, motgages should have been paid off by the government and the banks still would have received the money to save themselves. If anything the banks owe us the American people a great deal of gratitude. And they can show that to us by not just lowering mortgage rates but acutually allowing people to get a loan with those lower rates.

GABRIELLE BROWN (M.A.D.D.D.)
Feb 11, 2012 7:14PM
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Smartgirl I get what you are saying but medical bills should not matter because if there is a lawsuit or dispute it will still be on your credit and most people in this country can't pay medical bills but they have to see a doctor. I was told that me paying my utilities, phone bills and rent is not good enough to define my credit as good but if I was late and it reports as such it makes my credit score go down. So you see some of us are paying our bills but are still getting F$%^!@. I got married in 2004 and not even a month later I started getting letters about loans and mortgages that was not mine and every time I disputed it and gave my info to prove it was not me I had trouble so I am still fighting this in 2012. So I budgeted and cut back on  a lot of things with my family to get a loan to buy my first home and because the house was under $50,000 I was turned down. See you have to go beyond your means to get money from these lenders so they can put you and keep you in debt. BTW this home was well kept and only 2 owners a new roof and plumbing. 
Someone (voicvresyn)
Feb 11, 2012 1:18PM
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Took out a small federally backed student loan to finish up my education. I missed a payment once of less than $50.00 and now I can't qualify for a home loan. I would rather borrowed from a loan shark. I might have broken thumbs but at least I'd have a house.
smartgirlzrule333
Feb 11, 2012 10:03AM
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The banks deny loans for unstable people with a proven records of not paying their bills. I work in lending and understand both sides of this issue. Not every loan can or should be approved and most consumers that are being denied loans are the ones who have "bad credit". Would you be willing to lend hundreds of thousands of dollars to someone who doesnt even pay their $200.00 medical collections? Or maybe the couple who has more debt than they do income? I wouldnt. People have to take responsibilty for their own situations. No one forced you to max out all your credit cards, or over spend at Christmas, or buy a car that cost double your yearly income... if you want to be a homeowner than save your money and pay your bills off first..tired of hearing people blaming others for things that are their own fault. GROW UP.

mfdco5
Feb 11, 2012 9:10AM
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Easy to ruin credit. A very long tough road to correct your score. Pound at the balances, do not pay the minimum payment. Once you have lowered your balance do not charge more than what you can pay back each month. I know it is easier said then done, but if you give it your best shot it will work.

common sense17
Feb 11, 2012 8:46AM
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It's pretty sad when a credit union won't loan a women with a damn good job and little debt a measly 65 grand to buy a small house but they will loan the same amount to someone who is getting a cadalac escalade. These institutions have millions to lend and 65 grand is a drop in the bucket. A person needs a roof over their head but they don't need a cadilac escalade. I have expressed deep dissapointment in my credit union in a conversation i had with a senior incumbent member in the past in a 2 hour conversation i had in which he was speachless the whole time. This is why i soon will no longer support them. What a joke these places have become.
Non-loser214
Feb 11, 2012 7:46AM
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Make sure that the lender has all closing paper dated at time you bougth your house
If they lose this documents, they can lose the foreclosure process, and you can keep your house

Airplane Al
Feb 11, 2012 7:25AM
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Don't buy now, soon Fannie, Fredi and other Gov. backed homes will be available for Homesteading. As far as bill collectors, get a Burn Phone, use it for 6mos and throw it away, screw with the system.
TG71
Feb 2, 2012 8:10AM
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you have to be nuts to buy a new home these days..bad idea in my book,the way this country is heading,as with iran, china threatining nuclear war if we invade iran, russia getting pissed....if anything save that money and move to a country that the world doesnt hate
Kiet Thich
Feb 2, 2012 3:18AM
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Beware Quicken Loans sponsors this  website.  Quicken loans are liar.  They rip-off my closing cost deposit when I was asked for refinance my existing mortgage.  I had excellent credit score close to 800.  My existing mortgage balance was $400,000.  I only want to refinance $400,000 and my home appraisal $585,000.  They said I was approved and qualified for the loan.  Told me to sign the paper and paid $500 deposit.  After two week later they said my home appraisal value was not enough to close the loan.  The application was denied.  Piss me off.  They did not refund my deposit.  Read the complaint Quicken Loans on search engine website. Beware Quicken Loans!!!
Brtangel
Feb 2, 2012 2:34AM
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@ Richard Gaston: keep your head up, My Friend. I've been there too. It takes time and work but it does get better. It's all about dedication and prioritizing. The worst part about credit ratings is you have to have credit to raise the number but with a low number no one will give you credit. @ Navygirl0981: Collectors can be the WORST. Some are down right NASTY! Just keep in mind that they can't threaten you. I delt with some really nasty medical collectors for YEARS! I am not sure as to what your collections are for but if they are medical, I could offer some advice that might help.  I've also been on the really bad side of credit cards, Judgments and even overdraft accounts that I have been able to overcome with alot of dedication and sacrafice. It's hard but it can be done.
Richard Gaston
Feb 2, 2012 12:24AM
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My Credit Score is only 520, no bank will loan to me for a home. I would be lucky if I can find a lender that would do a low doc with a 70%LTV
navygirl0981
Feb 2, 2012 12:16AM
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Actually, I have collectors who want me to make full payments and I cant, and I offer to set up a payment plan and the still refuse. So I was sending in what I could and I was getting my money orders back to me in the mail with notes saying and I quote "Please send only the full amount, we do NOT accept partial payments."

Despite my efforts I haven't been able to pay off the collectors because they refuse to take a partial payment.

This article was not well written.

Mike Baisley (C1SCO)
Feb 1, 2012 11:20PM
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Yeah if you get denied a home loan because you can't afford it keep trying it until you finally slip through the cracks, then enjoy your house for 1-2 years and then go through the foreclosure process, GENIUS.
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