Misfitmorgan's Journal - That Summer Dust

[Bruce]

We are usually running 5A these days. Used to be 4A. So yes, you are warmer than we are.

Could you maybe convince the loan officer and underwriter that forcing early termination on the lease (2 lousy months ?????) only makes the situation they are "concerned" about worse?? Sometimes they just look at numbers and if you talk to them they can see beyond the "rules" depending on the situation. I really don't understand why a lease that is almost up is so different from a loan that is almost paid off. Seems like your current lease (from the point of view of cash) would be paid off in 4 months if it were a loan and if that would be OK why is a lease that will be paid off in 2 months be worse?

Stupid question but what will you drive when the lease is done? You either buy it or have to get another vehicle right? Are they possibly ASSUMING that you will have to put out some cash for another vehicle which may or may not be the case? Maybe you already have an extra vehicle to drive that they don't know about.

No friends or relatives that could sneak a couple grand into your mattress? You could sneak an equal amount into their mattress in a couple of months

This is all very amazing, it isn't like you are trying to borrow half a million dollars.

 

[misfitmorgan]

This is all on a 57k loan....like piddly chump change to them. The property already appraised at around 85k so if we default its not like they are gonna be out, not that we plan too.

I have another vehicle they know i have it listed it on the loan as a liquid asset. I told them i will not be leasing another vehicle. The problem is the ballon payment, thats their worry. Worried I will get behind trying to make the balloon payment to keep the car, I told them I wouldnt but they need assurance you know.

Best part....DH isnt any where on the loan. We make another 25k/year they arn't figuring in plus approx 10k/yr off the farm...so really our debt to income with the new house would only be around 20% can't put DH on though cause his ex-wife messed up his credit and the last card wont fall off for another 2yrs or something.

They said a loan would be fine....no balloon payment..the lease is the issue because of the balloon. Even if i sent the car back i would be charged for early termination and mileage.

My one friend said she would loan me 1k...but i have to wait to see how much the pay off is. I forgot we also have $350 this weekend from shearing so that helps some.

 

[Baymule]

You will do this. Maybe by the skin of your teeth, but you will do this. You have the whole forum rooting for you.

About those baby pigs.....I need piggie pictures. Lots and lots of squeezy cutie huffy kissy baby piggie pictures. Close up, group pictures, lots and lots of pictures. So when they are born, be right there to take and post pictures. Tell them their Aunt Baymule loves them and thinks they are beautiful.

 

[Bruce]

I was wondering if you had the extra $$ you could put it down on the loan and that would bring the D/E down close enough for them to look the other way. I hate to see you give $700 to the greedy lease company, that isn't even close to reasonable. No way would they be missing anywhere near that in "loan interest" for a lease that is up in 2 months.

DD1 needed a credit card to travel for ice skating. Given she has no job I needed to be on it as a guarantor. I had to bring in my "not paycheck" (ie retirement check) statement and the 1099 for my investments. With that they only gave her $500. She needed $1K for hotels. Not that she would use the card much, there are only 2 trips a year (she is on the 2nd one now). I called and said I recognize the "not paycheck" is just enough to cover the mortgage (also at the CU, always paid on time) so the debt/income looks bad but look at the 1099. I could cover her monthly VISA bill for years even if she maxed it out monthly. No good, have to get the wife on the card as well. Except the next day the nice girl at the CU called and said the card now has a $1K limit.

I don't know what got them to change their minds. Maybe they figured I was unlikely to run the investment account down. Maybe because I've had an account at the CU since 1979 including a VISA that has never been anything but paid off monthly. Maybe because my wife is joint on the checking account there. Maybe they looked at the "traffic" through the accounts. All I know is I "pushed" a bit, in a nice way, and things happened.

That is why I suggested the "personal touch" , sometimes things can happen. Have you mentioned DH's $25K and the ex-wife screwing his credit? I'm sure they know that story all too well. If it is just 1 card, they might be willing to look at his income "off the record" and decide your family is good for the lousy $1,600 balloon.

GOOD LUCK!!!!

 

[Bruce]

Plus Aunty @Baymule will PAY for pictures. $50 each, $100 if they are especially cute. And she trusts they WILL be especially cute and will prepay for the pictures

You can pay her for pictures of her cute goats in a few months.

 

[Baymule]

psssttt.......@Bruce I don't have any GOATS!

 

[babsbag]

Is your DH's credit score so bad that it would impact the loan? Ours was pretty bad right after we moved here, more than one late card (long story) so when I applied to get our home refinanced I was a little concerned as there were still lates reported on my acct. They told me that as long as they weren't in the last 2 years that it didn't really matter and that my mediocre credit score was well within limits.

 

[misfitmorgan]

You will do this. Maybe by the skin of your teeth, but you will do this. You have the whole forum rooting for you.

About those baby pigs.....I need piggie pictures. Lots and lots of squeezy cutie huffy kissy baby piggie pictures. Close up, group pictures, lots and lots of pictures. So when they are born, be right there to take and post pictures. Tell them their Aunt Baymule loves them and thinks they are beautiful.

I will do my best @Baymule but my picture taking track record is not so good lol. We expect 1-2 to farrow on July 7th the third will either be the same or 1-4 weeks later. The boar had 4 girls and he seems like he picked a favorite and stuck with them for 3-5 days so shall see how farrowing goes. I still need to get you hereford pigs. They are locked in a outdoor stall atm though with some other piggies because we had to put the ones who are suppose to farrow in their own stalls so we could keep track of piggies since it has been raining pretty much non-stop here for weeks now. So we moved some of the other pigs into a stall DH made on the lean-to end out of the barn outside. The result is pure mood/slop but dry-ish...mud/slop is from all the rain. Getting the barn cleaned is hopeless, every time it looks like it is gonna dry up enough to do it...we get surprise rain. So soggy atm you cant even walk on the ground with slipping and sinking...even after back bladed the driveway so it would drain better.

Is your DH's credit score so bad that it would impact the loan? Ours was pretty bad right after we moved here, more than one late card (long story) so when I applied to get our home refinanced I was a little concerned as there were still lates reported on my acct. They told me that as long as they weren't in the last 2 years that it didn't really matter and that my mediocre credit score was well within limits.

It is bad enough to negatively impact the loan. I put 3 of my credit cards with 100% on-time payments on his credit to bring it up from 460. The card from his ex-wife is reporting 26 late payments and killed his credit, every single other thing on his credit is 100% on time paid. Even so his credit score atm is only high 500s/low 600s they use the median credit score so his would be 597. The late payments are not all more then 2yrs old. She was suppose to be paying the credit card because she ran the debit up on it she agreed..he canceled the card....they separated and she paid the first 5 months, fast forward 3yrs when i check DH credit and go "wtf why are you not paying this credit card" he had no idea he just assumed she had paid the $700 original balance off the credit card cause she kept telling him she had. He got a hold of the bank to ask why no one had contacted him, they said they send several letters, he informed them they were sending them to his ex-wife's house. We got a copy of the bill and have been making the payments since, so he can have more paid-on times. His ex-wife isnt 100% at fault, it is partly his own fault he didnt check the card to make sure she was paying it.

So adding DH isnt a realistic option which is why i didnt already do that from the start, thankfully michigan is not a community property state lol. Just waiting for the finance company to send me the pay off amount, so i can see how much it actually is.

 

[misfitmorgan]

Oh i forgot, two pigs our farming partner as here are getting shot and bled out and then going to the butcher on saturday before we go downstate to shear. DH agreed to shoot, bleed them, and drop them off and we will get a couple pounds of sausage back. DH also spend the past 3 days taking care of someone elses filthy pig barn because they went out of town. He came home with pig scabies...joy. On the bright side though he got all the eggs the chickens laid for his "payment". He got to call the owner of the pigs and let them know that he doesnt know how to count because his pig that was suppose to farrow in mid-july had 15 piglets on day 2. Also told him his pigs had pig scabies...he isnt concerned.

Shirley is going to the butcher...live to be butchered for a family friend that wanted some pork. She is a little more mouthy and less level on the top line them Laverne so we decided to let her go for meat, ironically the berks that DH loves are all way way more mouthy then this girl. With feed bills about to rise a lot and the poopy weather we have the two barrows, the smallest gilt, and eva for sale atm. So if they all get sold that will be 7 less pigs to feed, house and clean up after. Shall see how it goes.

As soon as piglets are weaned the two pigs our friend owns are moving to his house too.

 

[Bruce]

psssttt.......@Bruce I don't have any GOATS!

OOOPS! Well you must have something cute to take pictures of for @misfitmorgan Guess I was thinking of @Devonviolet.

@misfitmorgan Does the bank KNOW about your husband's "predicament"???? Does he have any cards in his name (other than the 3 you added) that show "always paid"? I would bet that if you told them what you told us and if he has been paying "religiously" since he found out the ex did him wrong, they will see that he is not, in fact, a credit risk and it wouldn't take much of his income to put you over the top since all they are getting pissy about is the soon to be gone car lease.

Something that might also help your credit score is to cancel a couple of cards. They don't like to see a lot of POTENTIAL instant debt even if you never touch it. We primarily use our LL Bean card, they keep raising the credit limit. Went last Sept to nephew's wedding in CA. Airline tickets for 4, hotels, rental car. Not at ALL the usual monthly bill. We paid it, they raised our limit. They just jacked it to $20K Yes a MONTH. NO WAY we EVER spend close to that. Nor could we pay it so we would NOT do it! We NEVER carry a balance, use the card for convenience only. I think it was $3K when we first got the card maybe 20 years ago. Bought our daughter a graduation present in May (including the part my Dad bought, he paid us back before the bill even came) and drove to WI for her graduation, stuck a bunch of hotel and restaurant charges on the card plus the "usual" monthly charges and paid it off when the bill was due. Now they think we are Daddy Warbucks or something. I think that VERY UNUSUALLY high bill was under $7K so I don't know why they think we need $20K. We don't even go on yearly vacations, those 2 trips were "odd" for our spending habits. If we needed to get a mortgage I would bet our credit score would take a huge hit with that $20K of "credit risk" sitting there.

Man, 3 yrs of monthly interest and penalties on a $700 original balance must be horrendous! I don't suppose he can take the ex to small claims court and force her to pay off the bill?