Purpose

Should I pay stud loan with credit card each month for the purpose of a better FICA score?

Jun 252011

I would like to build my FICO score so I can I buy a house in a few years from now. Is it worth the hassle of playing games with a credit card to pay my stud loan each month & then pay that card off in full each month when I already have the cash to pay it in hand. My payment is about $ 320 a month and my WellsFargo cred card ((I have three cards: one is my WellsFargo and the other two have a great APR card)) has a higher APR than I like. But someone told me that if I use the card more in this way, WellsFargo might lower my APR and my FICO score would increase.
People who don’t answer your question and try to sell you something in YahooAnswers stink!!

What is the purpose of a Buyer’s Financial Information Sheet and who sees it when Buying a home?

Buying Your Home 3 Responses »

Jun 232011

My husband and I are putting in an offer on a home in PA. We were asked to fill out a Buyer’s Financial Information sheet to go with our offer. Why did we have to do this when we already have a Pre-Qual letter to go with the offer? Who sees this information and how [...]

is now a good time to buy homes for the purpose of renting out?

Buying Your Home 5 Responses »

Jun 222011

i live in the philadelphia area. i want to buy several homes and rent them out. i plan on holding on to the properties for a very long time around 25 years or more. is now a good time to start doing this giving the current real estate market? if not when?

I figured out what the subprime mortgage crisis purpose is…what do you think?

Mortgage Loan 12 Responses »

May 182011

Starting with Carter’s “Community Reinvestment Act” on to Obama suing Citicorp for the Congressional Black Caucus to force them to make loans to unqualified buyers… The whole agenda was to make taxpayers buy homes for people who otherwise could never afford them…….. The plan was after people who could not repay their loans defaulted and [...]

Can a lender do this and for what purpose?

Mortgage Loan 6 Responses »

May 022011

I took out an unsecured personal loan to fix a problem with my house. My circumstances change so I am making partial payments. Today I got notice the lender is selling my loan to another one of their out of state branches which is a mortgage lender. I don’t have a mortgage with these people. [...]

What is the purpose of PMI (private mortgage insurance)?

Mortgage Loan 2 Responses »

Feb 052011

I have a question. All conventional mortgages when the buyer has reduced to less than 20% deposit is required to buy PMI (private mortgage insurance) which is to “protect” the lender against loss if the borrower defaults. When an FHA loan, they are insured by the federal government. Given this, why not instituitions ready to [...]

If we default on an Calif FHA loan for purpose of ‘strategic foreclosure’, what are long/short term impact?

Mortgage Loan 6 Responses »

Jan 262011

Originally purchased Manufactured Home in 2000 in California. Non-predatory lending, put 5% down for 120,000 home (3BD/2BA). We refinanced for lower (fixed) rate in ’08, w/ payoff of 3 credit cards & some cash out. Current loan balance is $ 170,000… but other manufactured homes are Short-Selling for $ 75K or less… and some are [...]

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