Credit Question

[NaturalBornHustler]

Ok something very odd happened, Moms went in to get a loan for something and had her credit pulled. There is a Chase Ink business credit card in my business name/her name from when I first started out.

It did not show up on the credit report at all. I am almost positive while I did use my EIN number her SSN had to be used as well, as my business had no credit at that point. (I had only been on business for a year or so)

But why in the world would it not show up? The card has her name on it, and personal credit is usually tied to the business credit(they weren't just randomly giving out a huge credit line to a brand new business, so they had to use her perfect credit history to approve it)...so what gives?

Another question, if it is separate is that good for my business credit?

I have done mortgages before and am pretty familiar with how credit works, and I was stunned and confused as to how a large credit line like that was invisible on her report. Not complaining but thought it was odd.

[sonatine]

Ive found wildly divergent information about almost all aspects of my credit history and profile among The Big Three reporting services. Is it missing from all of them?

[NaturalBornHustler]

Ive found wildly divergent information about almost all aspects of my credit history and profile among The Big Three reporting services. Is it missing from all of them?

I am not sure, they didn't give her a copy of the report but usually on this type of loan they pull all 3 reports and use the average to get the score. In that case it wouldn't have shown up on any of the 3, they combine all the accounts on every report into one minus dupes obviously.

[Gordman]

Ive found wildly divergent information about almost all aspects of my credit history and profile among The Big Three reporting services. Is it missing from all of them?

THIS


Same here


Always important to check all 3

[Pooh]

Ive found wildly divergent information about almost all aspects of my credit history and profile among The Big Three reporting services. Is it missing from all of them?

What ever happened with buying that house?

[sonatine]

Ive found wildly divergent information about almost all aspects of my credit history and profile among The Big Three reporting services. Is it missing from all of them?

What ever happened with buying that house?

A combo of things honestly. I wanted to save up more for the down payment, I absolutely didnt want to move in winter or, even worse, deal with FHA contractor drama in winter (excellent call considering we just had the worst snowstorm in 20 years), and honestly I think the market is about to tilt towards buyers in a major, major way in the next 12 months. It sucks to wake up in a condo instead of my own home but if ever there was a decision worth a risk averse posture, I figure its this one.

[ShadyJ]

What ever happened with buying that house?

A combo of things honestly. I wanted to save up more for the down payment, I absolutely didnt want to move in winter or, even worse, deal with FHA contractor drama in winter (excellent call considering we just had the worst snowstorm in 20 years), and honestly I think the market is about to tilt towards buyers in a major, major way in the next 12 months. It sucks to wake up in a condo instead of my own home but if ever there was a decision worth a risk averse posture, I figure its this one.

Never buy a house its the biggest scam there is. The only way I would buy another house is with cash in a state with low property taxes. I know someone who bought a condo in FL for $140k at one point it was worth close to double that. Now its worth like 90k so he cant sell it. He used to rent it out for $1800 now no one will give $1500 which is his monthly cost because theres other places similar going for $900.

Buy and sell quick or rent.

[sonatine]

A combo of things honestly. I wanted to save up more for the down payment, I absolutely didnt want to move in winter or, even worse, deal with FHA contractor drama in winter (excellent call considering we just had the worst snowstorm in 20 years), and honestly I think the market is about to tilt towards buyers in a major, major way in the next 12 months. It sucks to wake up in a condo instead of my own home but if ever there was a decision worth a risk averse posture, I figure its this one.

Never buy a house its the biggest scam there is. The only way I would buy another house is with cash in a state with low property taxes. I know someone who bought a condo in FL for $140k at one point it was worth close to double that. Now its worth like 90k so he cant sell it. He used to rent it out for $1800 now no one will give $1500 which is his monthly cost because theres other places similar going for $900.

Buy and sell quick or rent.

It depends how you want to live.

I want Moroccan tiles in my bathroom and my backyard is going to have a hottub in the middle of a Japanese rock garden, surrounded by peacocks and ornamental pheasants.

Cant rent that.

Also, coincidentally, Ive been investigating property in Florida, and thats a whole other ballgame in terms of issues. Homeowner insurance alone makes Florida hilariously unrealistic to own property in, because of the frequency of major storms/typhoons/the whole fucking place sinking/etc.

But yeah if you just want to have someplace to keep your stuff and so on, renting is fine. If you want to live like a motherfucking sultan in the kingdom of your own making, forget renting, gotta buy.

[Baron Von Strucker]

A combo of things honestly. I wanted to save up more for the down payment, I absolutely didnt want to move in winter or, even worse, deal with FHA contractor drama in winter (excellent call considering we just had the worst snowstorm in 20 years), and honestly I think the market is about to tilt towards buyers in a major, major way in the next 12 months. It sucks to wake up in a condo instead of my own home but if ever there was a decision worth a risk averse posture, I figure its this one.

Never buy a house its the biggest scam there is. The only way I would buy another house is with cash in a state with low property taxes. I know someone who bought a condo in FL for $140k at one point it was worth close to double that. Now its worth like 90k so he cant sell it. He used to rent it out for $1800 now no one will give $1500 which is his monthly cost because theres other places similar going for $900.

Buy and sell quick or rent.

i think buying a house is ok. it is the mortgage and the banks are the scammers, i know it is difficult to have cash to buy a house, but it is the best way to avoid not paying double, low property tax is usually conducive to the neighbourhood, higher value = higher taxes as well as the larger the sq footage = more taxes.

defiantly nothing wrong with renting less hassles and if something happens you can down size easily, and invest your savings you may have from not having a mortgage.

[JUSTIFIEDhomicide]

Buying a house is fine as long as you know how to pay your mortgage and have the means to do so. Anyone who is actually paying their mortgage for 30 years is just hurting themselves financially. Might as well rent if thats the case. If you can afford to pay more than what your actual mortgage is per month it can turn into a great purchase

[ShadyJ]

Never buy a house its the biggest scam there is. The only way I would buy another house is with cash in a state with low property taxes. I know someone who bought a condo in FL for $140k at one point it was worth close to double that. Now its worth like 90k so he cant sell it. He used to rent it out for $1800 now no one will give $1500 which is his monthly cost because theres other places similar going for $900.

Buy and sell quick or rent.

i think buying a house is ok. it is the mortgage and the banks are the scammers, i know it is difficult to have cash to buy a house, but it is the best way to avoid not paying double, low property tax is usually conducive to the neighbourhood, higher value = higher taxes as well as the larger the sq footage = more taxes.

defiantly nothing wrong with renting less hassles and if something happens you can down size easily, and invest your savings you may have from not having a mortgage.

This is not true. You can look up property taxes by state. I live in WI which is like the 4th highest. On top of that I live in a semi bad neighborhood in Milwaukee. My friend owns a house twice the size of mine in Brookfield a rich subarb. His house is worth twice as much as mine but my property taxes are about 25% higher then his. It makes no sense.

[ShadyJ]

Buying a house is fine as long as you know how to pay your mortgage and have the means to do so. Anyone who is actually paying their mortgage for 30 years is just hurting themselves financially. Might as well rent if thats the case. If you can afford to pay more than what your actual mortgage is per month it can turn into a great purchase

Just not true. By paying more you just pay less interest but you still will pay way more then you will ever sell your house for not including taxes.

[ShadyJ]

Never buy a house its the biggest scam there is. The only way I would buy another house is with cash in a state with low property taxes. I know someone who bought a condo in FL for $140k at one point it was worth close to double that. Now its worth like 90k so he cant sell it. He used to rent it out for $1800 now no one will give $1500 which is his monthly cost because theres other places similar going for $900.

Buy and sell quick or rent.

It depends how you want to live.

I want Moroccan tiles in my bathroom and my backyard is going to have a hottub in the middle of a Japanese rock garden, surrounded by peacocks and ornamental pheasants.

Cant rent that.

Also, coincidentally, Ive been investigating property in Florida, and thats a whole other ballgame in terms of issues. Homeowner insurance alone makes Florida hilariously unrealistic to own property in, because of the frequency of major storms/typhoons/the whole fucking place sinking/etc.

But yeah if you just want to have someplace to keep your stuff and so on, renting is fine. If you want to live like a motherfucking sultan in the kingdom of your own making, forget renting, gotta buy.

I can understand that but you have to realize when you cater to your taste you hurt the resale value. When you want to sell it you narrow your range of buyers down to weirdos that live on internet forums.

[simpdog]

Buying a house is fine as long as you know how to pay your mortgage and have the means to do so. Anyone who is actually paying their mortgage for 30 years is just hurting themselves financially. Might as well rent if thats the case. If you can afford to pay more than what your actual mortgage is per month it can turn into a great purchase

Just not true. By paying more you just pay less interest but you still will pay way more then you will ever sell your house for not including taxes.

I hope you're trolling

[JUSTIFIEDhomicide]

Just not true. By paying more you just pay less interest but you still will pay way more then you will ever sell your house for not including taxes.

I hope you're trolling

I was thinking the same exact thing...

[sonatine]

When you want to sell it you narrow your range of buyers down to weirdos that live on internet forums.

100% true. On top of which, most people who buy basically barely stay the owners for longer than other people rent. I believe turn-around time is like, 4-6 years on the average home.

That said, I live and work in fairly affluent areas where there are generally ingrained artistic cultural traditions that lend themselves well to unique, elegant design.

If your housing requirements trend towards astro turf lawns so you dont get sued for the cost of re-sodding after your rusted out trucks get towed, then yeah of course I understand why you would feel that way about owning versus renting, and why uppity forum nerds making long term equity investments would seem outrageous to you.

[sonatine]

Also the fact that youre predicating a blanket objection to home ownership on how a friend of yours bought a condo.. in Florida... worth 90k... I mean look, thats basically like saying "Yeah dude dont get married, a friend of mine put a ring on the first 50 year old Puerto Rican heroin addict he saw leaving the state penitentiary and now he has Hep C and child support for 18 years".

[4Dragons]

Never buy a house its the biggest scam there is. The only way I would buy another house is with cash in a state with low property taxes. I know someone who bought a condo in FL for $140k at one point it was worth close to double that. Now its worth like 90k so he cant sell it. He used to rent it out for $1800 now no one will give $1500 which is his monthly cost because theres other places similar going for $900.

Buy and sell quick or rent.

It depends how you want to live.

I want Moroccan tiles in my bathroom and my backyard is going to have a hottub in the middle of a Japanese rock garden, surrounded by peacocks and ornamental pheasants.

Cant rent that.

Also, coincidentally, Ive been investigating property in Florida, and thats a whole other ballgame in terms of issues. Homeowner insurance alone makes Florida hilariously unrealistic to own property in, because of the frequency of major storms/typhoons/the whole fucking place sinking/etc.

But yeah if you just want to have someplace to keep your stuff and so on, renting is fine. If you want to live like a motherfucking sultan in the kingdom of your own making, forget renting, gotta buy.

10 miles inland is considered outside the flood zone and insurance is cheaper. Weather is still crazy there regardless.

[sonatine]

Excellent point, and 10 miles aint bad. But my friend down there dives off his back porch for lobsters every evening. I mean, thats a mans life, right there.

[JUSTIFIEDhomicide]

Where are you living nowadays Sonatine?