Posted by Christine Baker on January 15, 1998 at 20:48:12:
In Reply to: Chances of getting loan? posted by Jane B. on January 06, 1998 at 19:15:00:
My crystal ball tells me you have a 43.893% chance of getting your loan :)
Look, if ANYONE can tell you what your chances of getting a loan are based on the info provided here, I'd like to hear about it.
There is no way that I can tell you a thing without
1)reviewing your credit reports from all three bureaus.
2)analyzing your income, assets etc.
3)having at least a good estimate of your current LTV
And, that's NOT one of the free services I offer.
You got some time before your loan comes due. I'd start by IMMEDIATELY getting the credit reports from the bureaus and disputing what's not correct.
When I see "CCCS" I expect serious problems.
Download the loan application on the Loan Shopping page and generally just read what I say there and on the Credit Pages.
Considering that you already know you have credit problems, don't bother applying on-line and shopping for quotes.
Take your credit reports, your completed application, paystubs and W-2's to a couple of brokers/lenders.
If you don't have your reports, choose a broker who will pull all 3 bureaus and with all 3 Scores.
Oh, one last thing:
When you tell a loan agent about your unrecorded loan he'll have to add those payments to your ratios and list the loan on the application.
And no, I'm not telling you to lie on your loan application, just want you to be aware of underwriting guidelines.
Good luck,
Christine