|
Author
|
Topic: House Buying Question?
|
Team SOLO
Chevy Powered Stang
Member # 722
|
posted
 
 
quote:
Originally posted by cobraracer46:
quote:
Originally posted by Team SOLO:
cobrafag46 is the same fucking tree hugging loanaphobic bike riding faggot that has yet to put a post worthy of reading on this site.
As you like to say: Go eat a dick, Fag ![[Roll Eyes]](rolleyes.gif)
Go move to India so that I can outsource blow jobs to you!
--------------------
'88 Mustang Coupe: 8.02 @ 170
Posts: 3887 | From: Santa Clara | Registered: Jan 2002
| :
|
|
Avengeance
¯
Member # 5163
|
posted
quote:
Originally posted by cobraracer46:
I'll say it again, burn your credit cards! Fuck debt! Yeah, banks and credit card compaines like consumers to have a credit card balance because that means they (the lending institiutions) are making money off you from the intrest you pay. For those of you who get a hard on over your high credit score, think about this: Your credit score is only based on how much debt you have and how you pay for debt. Your credit score is not based on how much money you have in savings, or the size of your net worth, so if you love debt, then you will have a high credit score. Not surprisingly, I don't give a shit about my credit score since I hate payments,debt and like a large bank account and investments instead of paying interest. Now, even though I can't stand debt, I'm okay with a home morgage because you would be paying rent anyway. Furthermore, if you have no debt and plenty of savings, then yes, you can think about buying a home. By the way, you do not need a credit score to qualify for a good morgage if the lender underights you. In other words, when a lending professional underights a loan and finds that you the home buyer have no debt at all,ble to put a good amount of money down and have a very stable job, then yes you will qualify for a good home loan. Having debt and paying interest on it every mounth just because every one else deos it is fuckin stupid.
Soooo um.. whats your credit score?
You dont mind making a mortgage payment... yet you dont agree with the whole getting credit process in the first place? Explain to me... how the hell do you get to the point of MAKING a mortgage payment WITHOUT credit in the first place? Pretty smile and a nice personality? Pffffft.
Unless you make a BUNCH of money and have a SHIT TON of cash to put down on a house you WILL need a good credit score to finance a home loan.
Do you own a home? If so how did you get it, what did you put down, what amount did you finance, and what was your credit score?
--------------------
02' Limited Edition 35th Ann. SS
620rwhp/570rwtq. 10.6 @ 132mph.
Posts: 323 | From: NorCal | Registered: Dec 2004
| :
|
|
cobraracer46
¯
Member # 1142
|
posted
[/qb][/QUOTE]Soooo um.. whats your credit score?
You dont mind making a mortgage payment... yet you dont agree with the whole getting credit process in the first place? Explain to me... how the hell do you get to the point of MAKING a mortgage payment WITHOUT credit in the first place? Pretty smile and a nice personality? Pffffft.
Unless you make a BUNCH of money and have a SHIT TON of cash to put down on a house you WILL need a good credit score to finance a home loan.
Do you own a home? If so how did you get it, what did you put down, what amount did you finance, and what was your credit score? [/QB][/QUOTE]
Like I said before, since a credit score is ONLY based on how much debt a consumer has and if the debt is paid on time over a long period. Your credit score is NOT based on how much money you have in a savings account or in investments or the size of your net worth, so If you are broke and have no cash for anything like a large down payment for an uderwritten loan because you use credit for buying shit you cannot afford so you have a lot of debt and then pay the debt on time, then yes, you will have a "good" credit score. On the other hand, If you have no debt, that means you don't have monthly payments to make. The money that would normally go to the credit cards companies and car dealers, goes into savings and investments. The way I see it, A high credit score is a sign of stupidity. I personally don't give shit what my credit score is. As I explaind in my previous response, no credit score is needed to get an underwritten mogagae. In an underwritten loan, you need to put down alot of money, have absolutly no debt at all, No credit card payments, car payments, no debt, a stable job and a good amount of savings, not "credit" built up. OF course you also need to have a strong income for an underwritten morgage so if you have credit card and car payments stealing money out of your pay check every mounth,you won't have any money to build a good savings account and grow a good investment or two.
--------------------
2001 SVT cobra convertible with a Viper T56, Fikse wheels, Griggs frame kit, roll bar, Vortech, 4:30 gears, brembo GT brakes and more.
Posts: 1172 | From: Woodside California | Registered: Apr 2002
| :
|
|
Avengeance
¯
Member # 5163
|
posted
You are way off man... way off. You dont have to be in a bunch of debt to have a killer credit score. You dont have to put yourself in a hole with debt to get a killer credit score. Yes, you have to go into debt, pay the stupid finance charges, to prove yourself worthy of a good credit score... but you dont have to drown yourself in debt to get there.
You never answered my question about owning a house... so Ill assume you dont own one. (surprise surprise) I hope you have a good $50K-$100K in the bank ready to drop on a house when you decide to buy.. cause it sounds like you dont/wont have the credit score to get the loan when you need it. Im honestly sitting here feeling sorry for you... your thought process on how credit works, or how to gain it, is flawed.
You see.. I have a 785 credit score (I know thats funny to you), that was only last month, I know cause Im buying my second house and obviously we had to know my score. Ive never been so far in debt that I couldnt make a payment. Matter of fact I had ZERO debt when that score was pulled and I havent used my credit card in more then a year. I purchased things on credit that I COULD afford, JUST to build credit... instead of buying things I couldnt afford. The only things that Ive bought that were long term debt were my first house and cars... normal things. Now the cars are paid off and Im selling my first house with a profit of almost $180K, and I wouldnt had been able to buy that house (at age 22 mind you) if it wasnt for building my credit since I was 18.
I hope you figure it out soon... cause it would suck having to have mom and dad cosign for important things when you decide to but them. That is if you dont have that stockpile of cash I mentioned, for when you decide to buy a house.
--------------------
02' Limited Edition 35th Ann. SS
620rwhp/570rwtq. 10.6 @ 132mph.
Posts: 323 | From: NorCal | Registered: Dec 2004
| :
|
|
SmokinLX
¯
Member # 1684
|
posted
Avengence is rite, credit is a dual edged sword! For some it will be the leverage they use to get ahead in life and other's will bury themselves with it. Usually people who are unorganized and irresponsible with it tend to think that credit work's against You, or they were taught by their parent's that credit was bad. And I am not trying to bash anyone who has put in their opinion's about credit, as everyone has a rite to their opinion. I am a Real Estate agent and get the oportunity to help people make one of the most important purchases in their lives, which also gives Me the advantage to see what work's and what does'nt work for people that by a home and refinance too many times and bury themselves and end up selling with nothing or others who are leveraging their money in real esate and moving their equity from their residence to buying 1,2,or 3 rental homes. I can also respect those who don't want to get into the credit game because they know they don't have the discipline or orginization skill's to use it to their advantage yet. ![[patriot]](graemlins/patriot.gif)
--------------------
Dont claim power if ya cant mile per hour. 10 second AOD
Posts: 4388 | From: East Bay | Registered: Aug 2002
| :
|
|
|
Email this post to someone!
Printer friendly view of this Ford topic
