Finally applied for refi

[rubyruby27]

I applied for a refi finally, I think its approved with conditions that the lenders interest is protected from any liabilities.

The mortgage broker said he had never seen them come back with this statement before, usually its, this must be removed or it must be paid.

Wish me luck, he is calling the lender today to verify this statement.

[Hedwig]

Good luck. I hope it works out.

[rubyruby27]

Thanks, he just called and its approved if I pay the JDB's which I won't, or if I do I will sue them to recoup my money plus a little more.

[VexatiousLitigant]

Darn I thought you had taken care of the JDBs by now.

[Hedwig]

You need to look at the overall picture here. Is your interest rate going to be lower? By how much? How much will you save per month on the payments?

If you can recoup the amount you'd have to pay the JDBs in less than six months, it makes sense to just pay them. Lawsuits can be expensive. You have to look at what your time is worth, and maybe just decide to pay them and walk away and get on with your life.

[Loan Doctor]

If there are any things on title, like judgments, they will indeed have to be paid.

If there are things on your credit report that are <5000 total and are over 2 years old, then have your LO check out different loan programs. There are some that will ignore collection accounts.

Charles

[kevinp]

I've learned to do so many things here!..
Thank You..really useful..

[rubyruby27]

I haven't been here for a while other things on my plate. The JDB's are gone but it took alot to do, except for one and I don't care it comes off in a couple of months.

I didn't re fi with that company but I did get a 5.2 for 15 yrs with someone else and my roommate didn't have to pay the creditor on her account.

Now I hear the rates may go to 4.5 on 30 yrs. if they drop to 3.2 I will refi again.

For some odd reason my credit scores are not going up, while my roommates are in the mid 700's and climbing.

I finally got 2 credit cards to build my credit reports, one of them lowered my limit for no reason which I know I took a hit on that one as it made my balance at 90% instead of 45%

Soon everything will be paid off and I am only charging stuff that I can pay off in 3 months then restart the cycle.

Hope everyone is doing great.

Ruby

[Hedwig]

Good to see you again!!

I'm glad things worked out for you. If the credit cards are pretty new, that may be why your score isn't going up so fast. But as they age your scores will improve.

Keep up the good work and stop by to help some others!!