Debt Consolidation to Improve Credit Score
| Listing Information | |||
|---|---|---|---|
| Amount: | $10,000.00 | Status: | Loan created |
| Grade: | C | DTI: | 55% |
| Lender Rate: | 24% | Borrower: | hogrebe |
| Finished | State: | WA | |
| Funded: | 100% | Group: | (No Group) |
| Loan Information | |||||
|---|---|---|---|---|---|
| Loan Status: | Current | Origination Date: | 2007-10-31 | EricsCC ROI: | 20% |
| Status History | |
|---|---|
| Oct 31, 2007 | Current |
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Purpose of loan: I just built a new home for me and my 15 year old daughter. I accrued some credit card debt in finishing the home. I have $30,000 sweat equity in my new which I was hoping to use to pay off my credit card debt. Timeing is everthing they say. Due to the recent mortgage lender crisis I have had trouble getting a home equity loan to pay down my cards. By paying down my cards my FICO score will go up so I can get approved for my home equity loan. It would be nice to have tax deductable interest versus credit card interest. Help me make my home work for me. I have been in the work force since 1973 and retired from the military after 23 years. I now work as a nurse which is reliable employment. My financial situation: I have made on time mortgage payments for 17 years. I only want to improve my credit score and not do anything to risk my good credit. Monthly net income: $ 4500 Monthly expenses: $ Housing: $ 1500 Insurance: $ 75 Car expenses: $ 3 cars paid for Utilities: $ 35 Phone, cable, internet: $ 99 Food, entertainment: $ 250 Clothing, household expenses $ 100 Credit cards and other loans: $ 700 Other expenses: $ |
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