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Mortgage/Credit Score

Discussion in 'General' started by Gorilla George, May 13, 2021.

  1. njracer

    njracer Well-Known Member

    We do rapid rescores for clients that have funds to pay down accounts. I've been able to up the score 50 to 100 points on some clients. It takes about a week once we submit the documents to Credit Plus to get the new scores. This has helped many of my clients get into a home!
     
  2. crashman

    crashman Grumpy old man

    I was going off of BigBirds comment about paying the agencies for a temporary score bump. I did not fact check it but it sounds ridiculous enough to be true.

    And those same computers that can see that I have no debt can also see that I have had many loans in the past that were paid in a timely manner and that I have no black marks, etc. on my record for missed payments. I am going to stick to my original opinion that it does not make any sense. From what I have seen the system rewards people for being ass deep in payments...
     
    Phl218 and MachineR1 like this.
  3. dsapsis

    dsapsis El Jefe de los Monos

    Expect a threatening PM, mate. He seems sensitive to his transgressions.
     
  4. motion

    motion Nihilistic Member

    I'm pretty much a drunken sailor when it comes to cash, but at my age (58), there's no way I'm taking a loan on anything. They can all go F themselves!
    When you are DGAF wealthy, you don't take out loans. You're past that shit. Loans are for suckers. You're sticking it to everyone every chance you get. Not caring about your gawdam FICO score or paying bank interest is one of the sublime benefits of being DGAF wealthy.
     
    TurboBlew and crashman like this.
  5. BC

    BC Well-Known Member

    I musta missed the pm
     
  6. motion

    motion Nihilistic Member

    Not me I hope!
     
  7. dsapsis

    dsapsis El Jefe de los Monos

    Not you, BigSky.
     
    motion likes this.
  8. SuddenBraking

    SuddenBraking The Iron Price

    auminer likes this.
  9. Banditracer

    Banditracer Dogs - because people suck

    Nothing yet. :D
     
  10. auminer

    auminer Renaissance Redneck

    But not right now.

    Right now, we're in a period of rampant inflation. The Fed target is ostensibly 2%. They finagle with what they count as ""core"" inflation to try and keep the reported numbers in line. But they are losing the ability to even make the lie happen. You can't print TRILLIONS of dollars in a few months and not have repercussions. Look at the money supply charts. Ever since beerSARS became a thing we've been creating fiat USD out of nothing like your drunken sailor analogy, but on crack. Even the so called 'core' inflation numbers are 4+, and CPI is way higher.

    So why would DGAF wealthy care?

    Here's why: My mortgage is 2.25%. Even now those with decent credit can still get 3%. So, the value of the dollars I'm paying it back with is dropping at 4+%... while I'm paying 2.25 and can deduct interest. It's like I've got my own printing press with a roof on it.

    I'm actually pondering taking a loan and purchasing a rental property or two but these damn eviction moratoriums have me sketchin'.

    I fully expect even higher inflation numbers. Just wait til 15 bucks an hour minimum wage comes around. You ain't seen inflation yet!





    Edit:

    Damn... I read that and realized that I'm thinking way too small.
     

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