| | Notices | Welcome to the Infinite Credit forums.
You are currently viewing our Free Credit Repair Forum as a guest which gives you limited access to view most discussions and access our other features. By joining our free credit repair community you will have access to post topics, communicate privately with other members (PM), respond to polls, upload content. Due to bandwidth constraints, PDF files can only be downloaded by registered Members.
Our creditforum will help you fix your own personal credit, there is nothing that a credit repair company can do for you, that you cannot do yourself. Registration to our creditforums is fast, simple and absolutely free so please, join our community today Please note that we are not attorneys, we are not selling anything, nothing on this site may be construed as legal advice.
If you have any problems with the registration process or your account login, please contact us. | Advanced Credit Repair - Dealing with Collection Agencies Discuss Equifax Refuses FICO 08' in the CREDIT AND LEGAL ISSUES forums; Originally Posted by apexcrsrvc
I can remember this time last year people were going no-doc, 100% financing with 580 mid-scores.
Right, and with a 580 score which is the sign ... 
04-20-2008, 10:15 PM
|
#51 | | If You Do Not Like It, Kiss My...
Join Date: Nov 2004
Posts: 5,538
Casino Cash: $1110600
| Quote:
Originally Posted by apexcrsrvc  I can remember this time last year people were going no-doc, 100% financing with 580 mid-scores. | Right, and with a 580 score which is the sign of negatives, and not just thin files, naturally the mortgage brokers had no fiduciary duty to see why these people's stated incomes were so high, yet why they couldn't/didn't pay their bills. 
__________________
How come "phonetically" is spelt with a "ph"? | 
|  | |
04-20-2008, 10:19 PM
|
#52 | | Elite Member
Join Date: Sep 2006
Posts: 1,054
Casino Cash: $538550
| Maybe they couldnt pay their bills because they used all their money to buy AU tradelines  | |
| | |
04-20-2008, 10:21 PM
|
#53 | | If You Do Not Like It, Kiss My...
Join Date: Nov 2004
Posts: 5,538
Casino Cash: $1110600
| Quote:
Originally Posted by spinn Maybe they couldnt pay their bills because they used all their money to buy AU tradelines | If they had bought AU tradelines their score wouldn't be 580. 
__________________
How come "phonetically" is spelt with a "ph"? | |
| | |
04-20-2008, 10:30 PM
|
#54 | | HONORED GUEST
Join Date: Jul 2006 Location: Austin-area
Posts: 2,691
Casino Cash: $332200
| Quote:
Originally Posted by jlynn If they had bought AU tradelines their score wouldn't be 580. | actually, some of them were GETTING to 580 because of AU tradelines...and therein rests at least some percentage of the problems inherent in the lending meltdowns.
__________________
I am not *your* attorney and you are not *my* client. Nothing in this post shall be construed as establishing an attorney-client relationship.
Would you rather us tell you what WILL happen or would you rather have rah-rah bull-droppings from someplace else? | |
| | |
04-20-2008, 11:15 PM
|
#55 | | HONORED GUEST
Join Date: Nov 2006
Posts: 272
Casino Cash: $523300
| Quote:
Originally Posted by centex actually, some of them were GETTING to 580 because of AU tradelines...and therein rests at least some percentage of the problems inherent in the lending meltdowns. | And how de minimus of a percentage would that be? I would bet my life that it was less than .00001 percent.
I suppose my larger point is that someone with a 580 probably shouldnt qualify for 100% no matter how they got a 580.
Hell, regular credit repair is good for a 580 in most contexts. I mean the throw it against the wall Lexington Law type credit repair services.
Should they in turn also be culpable in the mortgage fallout?
__________________ http://www.apexcreditservices.com
No part of the post above or anything posted by us herein is to be considered legal advice. If you seek legal advice, contact a licensed attorney within your jurisdiction. No part of our website link, including clicking upon it, constitutes an offer of any kind or an advertisement to seek an agreement of any kind. Its placement here is for informational purposes exclusively. | |
| | |
04-20-2008, 11:16 PM
|
#56 | | HONORED GUEST
Join Date: Nov 2006
Posts: 272
Casino Cash: $523300
| Quote:
Originally Posted by jlynn If they had bought AU tradelines their score wouldn't be 580. | You got that right . . .
__________________ http://www.apexcreditservices.com
No part of the post above or anything posted by us herein is to be considered legal advice. If you seek legal advice, contact a licensed attorney within your jurisdiction. No part of our website link, including clicking upon it, constitutes an offer of any kind or an advertisement to seek an agreement of any kind. Its placement here is for informational purposes exclusively. | |
| | |
04-20-2008, 11:18 PM
|
#57 | | HONORED GUEST
Join Date: Nov 2006
Posts: 272
Casino Cash: $523300
| Quote:
Originally Posted by roybean No doc with 580???? Get the hell outta here! | I'm dead serious.
It was ridiculous and it is the reason we're in the shape we're in now.
A 580 doesn't take much.
__________________ http://www.apexcreditservices.com
No part of the post above or anything posted by us herein is to be considered legal advice. If you seek legal advice, contact a licensed attorney within your jurisdiction. No part of our website link, including clicking upon it, constitutes an offer of any kind or an advertisement to seek an agreement of any kind. Its placement here is for informational purposes exclusively. | |
| | |
04-21-2008, 12:35 AM
|
#58 | | Elite Member
Join Date: Sep 2006
Posts: 499
Casino Cash: $390245
| Quote:
Originally Posted by jlynn I heard getting criminals off pays well.  | That must be one expensive hand job.
__________________
I represent intellectual violence. | |
| | |
04-21-2008, 12:38 AM
|
#59 | | HONORED GUEST
Join Date: Jun 2006 Location: West-By-God-Virginia
Posts: 6,518
Casino Cash: $1746925
| Quote:
Originally Posted by VexatiousLitigant That must be one expensive hand job. | 
__________________ Please be advised that I am not an attorney and nothing I post on this forum should be construed as legal advice. Let's Go Mountaineers!! Let's Go Drink Some Beers!! | |
| | |
04-21-2008, 12:44 AM
|
#60 | | Elite Member
Join Date: Sep 2006
Posts: 499
Casino Cash: $390245
| Okay I could swear I posted another reply, but it went into limbo.
In summary, it wasn't the rent-a-TL that did the credit industry in. It was giving no doc SISA loans to people who weren't supposed to get those loans. Those loans were created for non payroll people (doctors, lawyers, contractors, self-employed types) not the cashier working at Wal-Mart. But those types were allowed to state their income and assets too as well as put 0% down.
What, you mean those 580 FICO borrowers who have no equity, with their ARM resetting and a history of not paying their bills would actually default on their obligation with falling home prices? I'm shocked, SHOCKED to find gambling is going on here!
I've heard that there's a stronger correlation between down payment % and defaulting vs. FICO and defaulting. I guess all the eggheads at FICO and the UWs didn't realize that the reason those high FICO borrowers weren't defaulting 10-15 years ago was because they were putting 10-20% down. Give a high FICO guy 0% down and negative equity and he'll walk away from a bad situation too apparently...
__________________
I represent intellectual violence. | |
| | |
04-21-2008, 12:47 AM
|
#61 | | Elite Member
Join Date: Sep 2006
Posts: 499
Casino Cash: $390245
| Quote:
Originally Posted by hannah | I was reminded of this movie I saw many years ago as a young lad. Didn't see all of it, but the part I remember, there was this jail. And it had male and female prisoners. To make money, the female prisoners would bribe guards to let them out and they'd go pleasure the male prisoners (in between the cell door no less). One of the girls used this tactic as a cover to break out of the prison.
No clue what that movie was.
__________________
I represent intellectual violence. | |
| | |
04-21-2008, 01:14 AM
|
#62 | | Administrator
Join Date: May 2006 Location: Okinawa
Posts: 6,995
Casino Cash: $2738900
| Quote:
Originally Posted by VexatiousLitigant That must be one expensive hand job. | Bad baby....don't touch that!
__________________
____________
"Be surprised at what people won't do and not at what they do." | |
| | 
Posting Rules
| You may not post new threads You may not post replies You may not post attachments You may not edit your posts
HTML code is Off | | | All times are GMT -4. The time now is 07:54 PM. 
|
