Where's KIp?

[luckytxn 2,264]

Are you that extended? Damn banks are falling over each other to loan money it seems when you don't need them. If you are serious, find a loan broker. He will put a package together on you, and try to sell the loan to several investors, not just banks. If your credit is good, and your income is steady, he should be able to find somebody, or some group, to buy the paper.

I have excellent credit and have owned many houses and had about 75 % of the money as a down payment. The bank and even my own bank said no because I didn't have three credit sources in the past 12 months. Years ago I got rid of all credit cards except one. Paid cash for my pick up a few years ago. Even still own another 10 acre tract of land paid for. They turned me down for not owning money for a few years. Shite you not. Told me to go get two more credit cards or similar and come back in 12 months and they will loan me as much as I want.

[I AM NOT THAT GUY 5,715]

Wow. I use several credit cards, but always pay off my balances every month. Try a loan broker. Banks are weird to deal with and don't always give you the best rates. I learned never to borrow from the same bank I deal with all the time, after I got burned by Home Savings. Seems borrowing money ends all friendships.

Edited September 4, 2012 by The Patriot

[spookyturtle 9,466]

I have excellent credit and have owned many houses and had about 75 % of the money as a down payment. The bank and even my own bank said no because I didn't have three credit sources in the past 12 months. Years ago I got rid of all credit cards except one. Paid cash for my pick up a few years ago. Even still own another 10 acre tract of land paid for. They turned me down for not owning money for a few years. Shite you not. Told me to go get two more credit cards or similar and come back in 12 months and they will loan me as much as I want.

And they wonder why there was a crisis? Penalizing people for not having credit cards or owing money?

[luckytxn 2,264]

Wow. I use several credit cards, but always pay off my balances every month. Try a loan broker. Banks are weird to deal with and don't always give you the best rates. I learned never to borrow from the same bank I deal with all the time, after I got burned by Home Savings. Seems borrowing money ends all friendships.

Was told that I can pay off balances but just need to use them now and again and show one year of using them. Or buy a new vehicle, they just said I need to show 3 things like this. I just like to be debt free and pay cash and also save money. I thought I was being uber responsible. The banks see that as a liability. I did go to 3 banks and 1 credit union. They also didn't like that I wanted to borrow the 50,000 and pay off with a 5 year loan. They said no one will give me a 5 year loan.

I just put up my last piece of land for sale. Be the first time in over twenty years I will own no land.

Edited September 4, 2012 by luckytxn

[TBoneTX 45,309]

Kip's back -- see various posts in P&R, see man.

[I AM NOT THAT GUY 5,715]

Kip's back -- see various posts in P&R, see man.