Wednesday, May 26, 2010

Not late on bills, 685 credit score, equity in my home, was approved then declined by Lenders?

Need Help! I applied for an Equity loan, had score 685 and equity. Made payments way before due date not past due date. I drive for a living...me and fiance were splitting up and needed this loan BAD to pay off my truck. The note was $626.00 a month, house $685.00 electric $165.00 and so on. I was told I had been approved and qualified for. When the Lenders (credit card co.) found out I want to pay off truck to get the title they declined me.



Tell me if I'm wrong? That would've put $565.00 back in my pocket each month to pay bills. If you got hurt and can't work you can catch up on credit cards but NOT YOUR TRUCK. They will come GET IT!!! Then YOU LOOSE EVERTHING! Open your eyes everyone! Watched what's going on and NOT CSI. Don't be led to the PASTURES!!!



Not late on bills, 685 credit score, equity in my home, was approved then declined by Lenders?

No problem. Go to another lender. There are a million of them out there. Just take your credit report that you have paid for along with the appraisal that you just had done to another lender and they will be able to help you. If they appraisal is recent they can re-certify it in the new lenders name and will save you money.



Not late on bills, 685 credit score, equity in my home, was approved then declined by Lenders?

Apply for your loan elsewhere. Did you go through one of those fly by night things you get in the mail promising you a pre-approved loan? If so consider yourself lucky they turned you down. Stay away from that nonsense. Go to your local bank that you have always used or a well known bank in your area. Get a loan through them.



Not late on bills, 685 credit score, equity in my home, was approved then declined by Lenders?

You're right they've got us. Most haven't yet realized it. Sell your truck, get an inexpensive vehicle before you have real trouble. Credit is tightening, foreclosures are happening, house prices falling. The Fed chairman just said this %26quot;robust economy%26quot; may be in danger of a recession. Get your finances in order as best you can. Maybe try somebody else for an equity loan. Yes, people are in real trouble, as evidenced by a negative 1% savings rate-the worst since the great depression.

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