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What can you do if your ex got the house and you signed a quit-claim deed but he never refinanced and did not make payments and now it is foreclosed and showing on your credit report?
Wiki User
∙ 17y ago
Most quick claim deeds are not legal. The home was in both your names that is why it is on your credit report. Your joint residence was probably never "just" his. Is it too late for you to work with the lender, keep the home and legally have him sign the property with debt over to you. Perhaps it is not worth it, but you will probably see that on your credit for the next 7 years. You could call a real estate broker to get some questions answered about the quick claim or contact an attorney. Try calling the credit rating companies to see what they have to say, it can't hurt. Best of Luck
Wiki User
∙ 17y ago
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I paid a collection account off in full and it is showing refinanced or renewed. Is this good?
No it is not good. Any negative entry on your credit reports is a bad thing and can affect your score.
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The executor presents a plan to the court showing what debtors will be paid and what amounts they will get. If the court approves, the payments are made and the estate is closed. The rest of the debt will get written off as a loss by the debtors.
Where can one get a mortgage loan with bad credit?
If one has bad credit, it is difficult to apply for credit-based loans such as a mortgage loan, but there are ways of reversing the bad credit to make it acceptable for lenders. Such ways include making current credit payments in full and showing evidence of steady employment for two years. There are also FHA loans for people with bad credit that guarantee payment to the lender by the FHA if the borrower fails to make payments.
Primary borrower on loan?
I recently co-signed for a loan for my brother. The dealership not only put me in the primary borrower position (which was a mistake), but since then there have been payment issues. So it has been my phone ringing off the hook. Even as a co-signer (non primary borrower) I would have been responsible to make the payments in the event the primary borrower did not. I understood that. However, if you are applying for a loan being the co-signer does make a difference rather than being the primary. Typically, to be a co-signer you will have to prove (by showing the payments being made from a co-borrowers account) that they are making the payments or it will affect your DTI (Debt to Income ratio). Also as the primary YOU will get the calls if there is a late payment - in my case they did not even have the co-borrowers phone number. This really doesn't mean anything except that I had all of the pain for their being late on their payments. My credit has been negatively affected. SO IF you are going to be the primary borrower - be sure that you are willing to make the payments.
How long does it take for a loan payment to improve your credit score?
Although making a loan payment will have a positive effect on your credit score it may take time to show. You will need to have approximatly 6 months of on time full payments of any debt before a good rating is received and this does not stop a bad rating from showing up from the same creditor Basic thing to remember one late payment (30 days or more) can show on your credit score....to show a positive note it must be 6 months of good payments.
I paid a collection account off in full and it is showing refinanced or renewed. Is this good?
No it is not good. Any negative entry on your credit reports is a bad thing and can affect your score.
Can you get receipts for payments made to a collection agency?
yes and an accounting too. To be certain, make all payments in person at their office. You may request a reconciled statement showing all payments as well.
How do you record a personal loan from one person to another without collateral showing interest payments?
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How do you build a sales team made of freelancer salesman?
You have contracts with the freelancers showing what they can and cannot due and what their payments will be based on (how calculated).
How do you prepare a worksheet showing interest payments on a floating rate?
you have to have a sheet with several different interest rates because the rate is floating and not constant.
Can a mortgage company continue to report your debt as late after the bankruptcy is confirmed and you have continued to make monthly payments on time?
Payments in the last 12 months are reported on your credit report. The BK 7 and the previously late payments will continue to show on your credit report, but eventually your ontime payments will be the ones showing. You may be able to get a statement that the house was redeemed in the bankrupcy, but all late notices for the past 12 months and/or a notice of foreclosure will remain.
Which websites offer an amortization calculator compatible with Excel?
An amortization schedule lists payments for mortgages or loans, and splits the payments into amounts and interest, showing how much is left to be paid. http://www.vertex42.com/ExcelTemplates/loan-amortization-schedule.html offers a free amortization calculator which can be used with excel to make an amortization schedule.
How can cleaning jobs help improve bad credit?
Hiring a cleaning company to clean for you can improve a bad credit rating by them providing a service and you paying them on time showing that you can be relied on to keep up with payments.
If you co sign on a auto loan and they file chapter 13 bankruptcy how do you keep your credit from showing not paid on time?
You know the answer: YOU have to make the payments. You agreed to do that when you signed the agreement. Of course, you may be eligible for bankruptcy also.
How do I get possession of a car in Michigan that I cosigned for when the owner has stopped making payments and communicating with me?
Contact whomever holds the lien, they will allow you to make payments and take posession of said vehicle if signor has ceased to make payments. I have already contacted the lien holder and they advised me that they would not get involved with me taking possession of the vehicle. All they wanted from me were back payments. I brought the payments up to date. Now I want to get the vehicle in my possession. Unfortunately I have been unsuccessful at contacting the person I cosigned for. I've even heard that he may have moved out of Michigan. I have a copy of the Michigan registration showing myself as an owner. I am currently awaiting documentation from the state that I am on the title. What is my next step towards getting possession of the car?
Does a person's credit score improve once all payments have been completed on a Chapter 13 and the Chapter 13 is discharged?
Not usually. Although it does look more positive than a Chap. 7 discharge. The only way a consumer's CRS will improve is by establishing new credit and showing they are a good "risk". Which means keeping payments current, and unsecured debt, minimal.
What to do if an estate is left with more debt than assets?
The executor presents a plan to the court showing what debtors will be paid and what amounts they will get. If the court approves, the payments are made and the estate is closed. The rest of the debt will get written off as a loss by the debtors.
