HELLP!!!

iVillage Member
Registered: 01-23-2007
HELLP!!!
7
Tue, 05-27-2008 - 1:47pm

Major confusion here....


Long story short, I'm looking to consolidate all of my debt into one payment. I seem to be getting really good rates.


Have any of you heard of Surepoint Lending? Any experience with Countrywide Lending?


I'm so afraid of getting taken.


Dee


iVillage Member
Registered: 01-23-2007
In reply to: dmh66
Tue, 05-27-2008 - 4:43pm

Ok, so


iVillage Member
Registered: 01-23-2007
In reply to: dmh66
Tue, 05-27-2008 - 5:15pm

Just got the third offer. It's from Quicken loans. She'll call back with details in a bit. I did find out my score is 731!


Dee


iVillage Member
Registered: 04-12-2007
In reply to: dmh66
Tue, 05-27-2008 - 6:49pm

Dee,


I don't understand...if you had cards locked in at 5.35% and 4.99% for life then how did the rates go up?


Robyn


iVillage Member
Registered: 01-23-2007
In reply to: dmh66
Tue, 05-27-2008 - 7:23pm

I have no idea, Robyn. I was so upset. I probably missed something in the "fine print". I had heard things like this happen with certain companies, but it never happened to me before. I've always been a pretty happy customer.


If this goes through, it is no more credit for us! I no longer trust those companies.


Dee


iVillage Member
Registered: 05-27-2008
In reply to: dmh66
Tue, 05-27-2008 - 7:30pm

Is this a HELOC loan? If it is, you may want to reconsider. Paying unsecured debt with secured isn't always a good way to go.

Countrywide I hear, is close to going to BK, so I'd try to stay away from them. Never heard of Surepoint, but from my research, they're a mort firm. So it sounds like you're getting a HELOC.

Please, please, please, if it is a HELOC loan, rethink consolidating your CC debt for that. Try to talk down your rates if you can. I know "for life" doesnt' mean just that. It just means "until they want to change it". Unfortunately, anything could've triggered them into raising the rates, including a high balance that isn't getting paid down.

Lastly, rethink the "no CC's", especially if you ever want another mortgage, or car loan, or personal loan. You need credit to get credit.

iVillage Member
Registered: 04-12-2007
In reply to: dmh66
Tue, 05-27-2008 - 7:46pm

Geez, Dee, that's terrible!

iVillage Member
Registered: 11-17-2007
In reply to: dmh66
Tue, 05-27-2008 - 11:06pm

Keep at least 4 active credit cards and check with local banks little ones sometime they have great deals going and big credit unions.


Discover has been sending us some pretty cheap offers. They were down to 1.9 the other day.


With that score you can shop around and get some good deals on money with out a mortgage


Another one is First National of Omaha they are going for 2.9 on the first transfer. They gave my husband 9,000 to start and me 8,000 both were 2.9 and then after we had them a few months they raised us to 10,000 and 12,000


Not a bad deal.


Good Luck


Mary Ann