Any advice is greeting !
Our Citibank lender won't allow us to refinance to a lower interest rate...based on the stupid "Logic" that our credit rating is not "appropriate enough" to qualify!
So basically what they are proverb is...
even if we have be making mortgage payments for
12 years straight on the same house and at an grossly inflated (10.5%) interest rate ( reliably) for the ultimate 2-3 years.
They are about to elevate it another 1% in August!
Yet they vote...
We don't qualify for a Lower interest rate which would obviously formulate our Mortgage Payement LOWER!!
How can we be a "risk" when we are already demonstrating an ability to clear a Higher amount ?
Please explain this * backwards "logic" to me?!
Also,we Don't have Any credit card Debt, owe smaller amount than 5,000 in total on any debts and hold Never filed Bankrupsy /or Chapter 13.
* We are both Self- employed and also own a piece of property within Canada ( that is ALL paided off)
What Do they want our First born?!!
Help!
Answers: What’s your credit ranking? That’s what the lender is looking at. These days, no lender considers your history with one and only their organization. The point of a credit ranking is to show how you manage ALL of your credit. Your current lender isn’t aphorism you’ve done them any wrong; they’re saying any a) that you have former mistake affecting your credit score or b) that your credit chalk up is low because of a lack of history. From what you said, the problem might newly be B; this can include things like not have diverse credit (revolving, installment, etc.).
And the biggest point you’ve missed is that since you have be able to settle up 10% for 12 years, your lender doesn’t want to sacrifice any income. It might not seem fair-minded, but would you trade a 10% return on an investment for a 6% one if you didn’t have to?
All that said, I hold known Citibank to be somewhat more conservative that plentiful other lenders. Shop around to see
I can't help but ask the press, why don't you fire them?
You've got 12 years worth of equity surrounded by the home. If you can back up your income claims you should know how to refinance with another company at much better rates.
People hold already given the answer.
If your credit rating and history is as good as you utter it is, shop around to another bank.
Citibank isn't the solely game surrounded by town. Shop around and see if you can find someone willing to work beside you.
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Our Citibank lender won't allow us to refinance to a lower interest rate...based on the stupid "Logic" that our credit rating is not "appropriate enough" to qualify!
So basically what they are proverb is...
even if we have be making mortgage payments for
12 years straight on the same house and at an grossly inflated (10.5%) interest rate ( reliably) for the ultimate 2-3 years.
They are about to elevate it another 1% in August!
Yet they vote...
We don't qualify for a Lower interest rate which would obviously formulate our Mortgage Payement LOWER!!
How can we be a "risk" when we are already demonstrating an ability to clear a Higher amount ?
Please explain this * backwards "logic" to me?!
Also,we Don't have Any credit card Debt, owe smaller amount than 5,000 in total on any debts and hold Never filed Bankrupsy /or Chapter 13.
* We are both Self- employed and also own a piece of property within Canada ( that is ALL paided off)
What Do they want our First born?!!
Help!
$200 rent increase w/o sense, forced utilities?? (ON:Canada)?
Answers: What’s your credit ranking? That’s what the lender is looking at. These days, no lender considers your history with one and only their organization. The point of a credit ranking is to show how you manage ALL of your credit. Your current lender isn’t aphorism you’ve done them any wrong; they’re saying any a) that you have former mistake affecting your credit score or b) that your credit chalk up is low because of a lack of history. From what you said, the problem might newly be B; this can include things like not have diverse credit (revolving, installment, etc.).
And the biggest point you’ve missed is that since you have be able to settle up 10% for 12 years, your lender doesn’t want to sacrifice any income. It might not seem fair-minded, but would you trade a 10% return on an investment for a 6% one if you didn’t have to?
All that said, I hold known Citibank to be somewhat more conservative that plentiful other lenders. Shop around to see
I can't help but ask the press, why don't you fire them?
You've got 12 years worth of equity surrounded by the home. If you can back up your income claims you should know how to refinance with another company at much better rates.
What is the average monthly cost of intuitive gas for heat within Savannah, GA?
People hold already given the answer.
If your credit rating and history is as good as you utter it is, shop around to another bank.
Citibank isn't the solely game surrounded by town. Shop around and see if you can find someone willing to work beside you.
Resolved Questions: