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URGENT/ PLEASE ANSWER ASAP/ GRATEFUL & WILL TIP VERY
URGENT/ PLEASE ANSWER ASAP/ GRATEFUL & WILL TIP VERY WELL/REFI-MORTGAGE Q'SHi there!Even Though I pay for the monthly service, I haven't asked a Q for a long time. Is sure is great to know you're out there when I need you though!!I am in an unusual situation of working as a live-in care giver for the terminally ill. I have almost no time off, and as it turns out early tomorrow morning (Thurs 6/16/16) will be my only opportunity in this next 3 months to apply for a refi for my home mortgage.Can someone please answer these Q's for me tonight, so that I can know what I'm doing first thing in the morning when I apply? Thanks so much for your help!! Note: I will not be able to chat, or get to my computer to answer any Qs to clarify that you may have for me. I get one shot to send these Qs now, and one shot to read the answers in the morning. So I will very gladly tip, if you can please answer my questions very clearly & specifically & in a way that I will not have to ask follow up questions in order to understand. (Also I do realize this is more than one Q!) Thanks so much again for your help!Questions:1) I understand that it's the law now that mortgage lenders have to verify your income with the IRS before granting a loan, which makes complete sense to me. But can you please tell me if I give the mortgage co. my 2 most recent tax returns, and then also my pay check stubs to date, that have not yet been filed (on my 2016 tax return), does the mortgage lender somehow report that to the IRS as well?And is there some sort of way that the mortgage co is required to confirm my current pay earned so far this year with the IRS, or any institution other than directly with my employer, and showing my pay check stubs?*** THESE FIRST 2 Q's on #1 ARE THE MOST CRITICAL for me to have answered***As, although my current employer does give me pay check subs correctly, I'm not sure they are caught up to doing/& filing everything on their end yet, that they should be (and will be soon). Sometimes families with terminally ill loved ones find themselves scrambling to have to learn about & do all that is required of them legally to become an “employer” also, in the process of just wanting someone to come in and take care of their loved ones, who they of course are already very emotional about. And while I completely understand and sympathize with the stress on them, I just need to make sure that (by morning! Yikes), this will not turn out to be a problem for me for any reason. …either now, in applying for the refi, or later, after I have gotten the refi. Please be clear on specifically what I have underlined for question number 1. Thanks so much!2) I have an extension on last years taxes, and will be turning it in tomorrow. If I take it directly to the IRS office will verification from them that they received it, be enough for the mortgage co to go ahead and process my loan based on that information and my return as I turned it in…or will the IRS need to takes weeks to process it first before the bank can use the it?3) How do I get quotes for loans at 2 separate mortgage companies? Apply at both places at the same time? And will they each pay for their own appraiser to come out? Or will I be responsible for the bill for the appraisal if I do not follow through and choose that company for the loan?4) If I apply for a loan at one bank and don't qualify, is there any way for the next bank I apply at to know that I did not qualify previously? (other than an inquiry hit showing on my credit report)5) How soon after I refi, can I refi again? Because when they decide on my interest rate now, it will be based partly on my fico score which includes credit card debt, and although my fico score is not bad, it will be exceptional after I no longer have this debt (which will immediately be paid off as part of this inclusive refi loan). I would of course like to take advantage of the lowest rates possible while they are still available. Does my thinking make sense? Wouldn't it be to my benefit to do that?THANK YOU SO VERY MUCH FOR YOUR IMMEDIATE ANSWERS!
Credit Report question: Is there a way to prompt an update
Credit Report question: Is there a way to prompt an update of my credit reports on the 3 agencies??? I have a low credit score of about 660ish. All my indicators are good except for credit card utilization, which is about 42% available. I have about 30k on various accounts. I would like to get my score up over 680 so I can refi some real estate loans. I paid down about $15k of credit lines, cards, etc. about 4 weeks ago to cut some interest and to bump my score. Nothing has changed. I thought credit status was sent out monthly? When I monitor my report on creditkarma and identity gaurd, no reports have gone in to them with the now paid off balances since April and May on the various cards. Is there a way to prompt an update??
A recent online loan request (I didn't even state an amount)
Hello,A recent online loan request (I didn't even state an amount) was declined, suggesting that there was insufficient recent loan activity reported to a credit reporting agency the potential lender had consulted. However, I do pay a monthly mortgage and have an active credit card and a consumer loan (a portion of which I have paid down in advance). I have credit scores in the upper 700s and a DTI of 19/27. What should I do? (I would like to borrow enough money to replace five sets of 8ft-high French doors on my house.)
This question is about calculating the closing cost
This question is about calculating the closing cost for a condo.The exact questions are:- What is the closing cost that should be expected for a condo purchased in Boston in $1.9 Million.- What are the specific items within the closing costs for a condo and what are the approximate feesassociated with each item- Is the closing cost effected by the size of the mortgage loan, for example if I pay cash for the property will be closing cost be less
How can I regain my good standing that was taken away by Identify
How can I regain my good standing that was taken away by Identify thief on 4/25/16.On 4/25/16 someone briefed the lender loan process without authorized and made changes my E-mail and banking information.I wish to keep my access for future loans with this lender. However,a. Per the lender hacker/they paid off a balance due and applied for 2 loans.b. Than applied for 2 loans. One for $250 and 1 for $1000.c. I was advised the funds were released to this party account on 4/26/16.Problem they have an internal policy if you become a victim of identity theft; they will not allow you to apply for future loans.The lender advised me this is Identify theft but I will be removed from obtain loans from them after I've signed the identify theft affidavit.I have been a client with this lender from Nov 2012 without any issue until now.My concerns if this *identify thief affidavit signed; its will damage my credit and remove this lender that allowed my personal information be change without my authorization.
Qin a credit card company has charged off part of my account
Qin a credit card company has charged off part of my account and sent me a 1099-C for the balance which I reported on my taxes, and sent me a letter saying they will no longer be collecting on this debt, why does my credit report still show currently delinquent and a balance due equal to the 1099-C amount? Can this be removed to show 0 due and not delinquent?
Sr Financial & Tax Consultant
I applied credit card and got approved.. I have not usedView more finance questions
I applied for a credit card and got approved.. I have not used it and just got a statement for the annual fee.. Upon looking at the statement, I realized I don't want this card.. Can I call them and cancel it before I have ever used it.. Will this effect my credit?
JD, MBA, CFP, CRPS