I am fixing to lose my wife here is the story she bought a house before we got married and we pay 550 each each month. Well I am selfemployed and hit a rough bump in the road and couldnt make my payment on time never over 30 days but right at the 30 day period also same on truck payment that I had to make of 350 and this has caused us to not be able to refinance the house and its a loan that after 2 yrs you had to refinance or the payments could go up. I don't know what to do a guy has told her she is screwed for 7yrs told her that its nothing she can do. This has caused a big strain in our marriage its killing me cause I am the cause of this. I am looking for any answers that might can help thanks or a mortgage co that we could refinance with anything that could help and fast thanks
How many 30 day lates does your wife have on her credit reports? Are you now making enough money to pay what you owe on time? She may not be "screwed", it depends on the situation, you'll have to give us more information to help you.
Are you sure these are showing up as 30 day lates? Did you verify this with your credit reports or the mortgage company? Work only on fact, not what people "say". Check your credit reports, if you have not pulled them yet, you can pull them for free at www.annualcreditreport.com Look at your reports, and then figure out where you are. If you can, pull your credit scores also, this will give you a better idea of where you stand.
1. Try to negotiate with the truck lender...in many cases, they'll let you move one of your payments to the end of the loan. This could free up cash in your budget to help you catch up in other areas. 2. Credit cards/bank accounts...if you're being assessed late/overlimit/NSF fees, get on the phone with them and explain your situation. "I've been a customer in good standing for xxxx months/years...is it possible to get some or all of these fees waived?" 3. Marriage counseling. For better/for worse, etc. etc. and all that. Financial hardship is one of the leading causes of marital discord.
This is true. A late fee is usually assessed when the payment is 15 days late...however, this isn't a strike against you when it comes to refinancing, unless it's a 30-late. This isn't the best way to pull credit, for the following reason (which I've read on this and other boards many times.) When you pull your credit reports through means other than FACTA (the annualcreditreport.com thing), when you dispute something there is a 30-day period for the credit bureau to research and verify the item. If it's a dispute as the result of the free annual credit report, this period is 45 days. What if you've disputed a collection, and that collector takes 35 days to respond to the credit bureau's research request? It should also be noted that the scores which you find online aren't usually your "official" scores, i.e. the ones which a mortgage or an auto lender will see. Visit myfico.com to get those.
