Life lessons...

[Bigmike]

If you intend on applying for a home loan....

Don't throw your school loan bills in the corner and neglect them.

Don't let your loan company break your student loans up into like 8 different loans. Make sure they consolidate it. If you are late or short it won't report 8 times on your credit report but only once.

Don't date a broke ass women with bad credit and a stack of medical bills.

Don't live in anyone's apt w/o your name being on the lease, you need it to report to the credit bureau if either of the top scenarios apply to you.

So damn mad right now, home mortgage payment would be less then rent. But because of the above mentioned that's a no go. All I can do is bend over and let rent fuck me hard for another year as I build and fix my credit... all over 35 points. Take it back not even mad... more depressed.

[Fit Guru]

We all make financial mistakes. Especially when were young. Student loans are a racket! Most people don't make nearly the money that their loans cost them. They have $80k in student loans and make $30k a year. I'm a Dave Ramsey guy. One of the first things be bad people do it pay off student loans. I'm a financial peace university grad. We have no debt except our mortgage. We have not credit cards. There's money in the bank so we use debit cards.starting young is the key. If noone listens to dave or read his books I recommend them. Hate to hear all that bro

[Bigmike]

Yea I went ahead and bit the bullet... used what was to be a down payment on a new rid to pay off every card I had a balance on. Maybe it will pick my score up a little... don't know it will get me to the cap for the financing I need to get a home loan though.

[suprfast]

Yea I went ahead and bit the bullet... used what was to be a down payment on a new rid to pay off every card I had a balance on. Maybe it will pick my score up a little... don't know it will get me to the cap for the financing I need to get a home loan though.

It will lower your debt to income ratio. Don't close out the accounts though, at least not the older accounts. You need long standing credit history.

[Bigmike]

It will lower your debt to income ratio. Don't close out the accounts though, at least not the older accounts. You need long standing credit history.

Yea I didn't close anything just paid it in full. As for my debt to income the loan officer actually said I was in very good shape. Just the slip up with late student loan payments and the way they were broken up screwed me.

I'll just work on using my CC and paying it same day online for the next month. Next month I'll roll over to full time Domain Administrator with about an 8k pay increase... so who knows.

[teddybear]

Its cool man just get in the door make a year or two of on time payments then refi later . I have a feeling homes arent going up in price much for about four more years anyway . good luck to you.teddybear

[suprfast]

Never pay a credit card next day. Wait until the due date. No late fees or interest starts until you miss that due date.

However paying off every month is fine. Its essentially interest free money for 30 days. Take advantage of it just don't get behind.

[Fit Guru]

Never pay a credit card next day. Wait until the due date. No late fees or interest starts until you miss that due date.

However paying off every month is fine. Its essentially interest free money for 30 days. Take advantage of it just don't get behind.

Credit cards are the Devil. Very few pay more than their minimum payment. People say all day long"I'm disciplined". Guess what? If your using credit cards and don't have an emergency fund and your A/C unit goes out your screwed! Especially if you've been paying minimums and your cards are maxed. Set back money in an envelope or savings account for emergencies. And don't touch it. A Florida vacation is not an emergency!

[Orange24]

Credit cards are the Devil. Very few pay more than their minimum payment. People say all day long"I'm disciplined". Guess what? If your using credit cards and don't have an emergency fund and your A/C unit goes out your screwed! Especially if you've been paying minimums and your cards are maxed. Set back money in an envelope or savings account for emergencies. And don't touch it. A Florida vacation is not an emergency!

I live by this

[suprfast]

Its all about credit in today's world. Bad credit is > no credit.

[Fit Guru]

Its all about credit in today's world. Bad credit is > no credit.

You know you're right this is a harsh reality for most Americans. But it does not have to be that way.