Buying a car & then selling current car w/c will lower DTI

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Listing Information
Amount: $7,200.00 Status: Loan created
Grade: D DTI: 48%
Lender Rate: 22% Borrower: hihello
Time Left: Finished State: TX
Funded: 100% Group: PsychDoc's Group
Loan Information
Loan Status: Default Origination Date: 2006-09-06 EricsCC ROI: -32%
Status History
Sep 04, 2006 Current
Aug 28, 2007 Late
Sep 07, 2007 1 month late
Sep 14, 2007 Current
Sep 21, 2007 Late
Oct 03, 2007 Current
Oct 21, 2007 Late
Nov 07, 2007 1 month late
Dec 05, 2007 Late
Dec 07, 2007 1 month late
Jan 07, 2008 2 months late
Feb 07, 2008 3 months late
Mar 07, 2008 4+ months late
Apr 09, 2008 1 month late
Apr 10, 2008 4+ months late
Dec 29, 2008 Default
I am marketing professional working in the healthcare industry. I have a stable job and get a guaranteed salary each month. All my bills are paid on time and never had any derogatories in my credit report. This loan will be used to buy a used car so that I can sell my current SUV which has a monthly payment of $532. This will also save me hundreds a month on gas since I travel an hour each way to work. Since the monthly payment of this new loan is significantly lower than my current auto loan, my DTI will also significantly be lower. Some of the debts that are showing on my credit report are from being added years ago as an extension on my family's credit cards so my real DTI should really be just in the 20's. My Equifax score as of 8/21/2006 is 648 and 651 for Transunion.
Borrower's Other Listings
33106 Buying a car & then selling current car w/c will lower DTI D $7,500 @ 27% Aug 21, 2006 Withdrawn
33120 Buying a car & then selling current car w/c will lower DTI D $7,800 @ 22% Aug 21, 2006 Withdrawn

 

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