General discussion

VA mortgage loans , What a drag !

Apr 17, 2018 4:49PM PDT

I was my dad's caregiver for the last 12 years , living in his house with him and didn't use any credit for anything . Didn't need to as I like to pay cash for everything . Well that really messed thing's up as I have no credit score now .
I never had bad credit, just never used credit.

Well, dad passed last Oct. and I decided to buy the sibling's out and keep dad's house . I'm putting down at least half the value down so no problem getting a loan RIGHT ? Nope ! WRONG

Even for a VA loan , I was denied as I have no credit score lol.
Even the bank I've used for the last 40 years and have purchased 2 other houses through said no and I have $$$ in their bank that would make others drool .
One person told me that I don't exist because I have no credit score.
So now I'm hunting down a bank that will give me a small loan for maybe 5 years and it's hard to find one.
I could almost pay cash for this house but don't want to break myself doing it ...
I guess my point is that Bad credit is better than having No credit these days...

I really thought this purchase would be a snap , Fooled again Shocked

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Comments
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what to do
Apr 17, 2018 4:54PM PDT

Get a couple of credit cards, like Chase or Bankamericard. Use it for all purchases and pay off fully each month, which means NO finance charges. In a year you will have a credit record. Doing it with two cards will increase the credit rating. It will cost you no more than using cash, but create "credit rating".

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Sorry about your Dad
Apr 17, 2018 4:55PM PDT

I must have missed that post. As I recall, he liked gardening and putting flowers in pots of front yard area.

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Thank you James
Apr 17, 2018 5:04PM PDT

you remember correctly, Dad sure had a green thumb and had a very artistic eye. I miss him sorely as we became best buddies .

I never thought I might be messing up by not having credit.

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I found this older post of his gardening
Apr 17, 2018 5:16PM PDT
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The garden
Apr 17, 2018 5:56PM PDT

hasn't looked like that since than. Dad was in the hospital so much that he could no longer do it.
The last two years he was alive I had to put him by little sister's house as I had colon and prostrate cancer and needed operations . He was always complaining that I wouldn't bring him home and I didn't tell him why. I feel bad about that.
He was happy by sis's though . Los of property and wild flowers and animals . Whistled to the birds.
Here is a recording of Dad and myself outside the day before he passed .
Open With VLC player Dad Whisteling

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heard the cricket too
Apr 18, 2018 3:04PM PDT

Reminded me of Buddy Holly and how they named their musical group.

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That day was wonderous
Apr 18, 2018 4:31PM PDT

I gave Dad a a good scrubbing in the shower, a long relaxing shower.
shared the same cups of coffee and enjoyed the view and the sunshine , getting him to eat .
I gave him a hair cut and a shave outside , he really liked that Old Spice burn after the shave.
Starting laughing and he was cracking jokes and really admiring the Lord's beauty.
Started whistling, and got sleepy.
Took Dad indoors and put him to bed with a smile.
A few hours later he held his arms up and said my Mom's name , a few minutes later ......

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(NT) If only we all could go so peaceful
Apr 18, 2018 4:47PM PDT
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(NT) Now, THAT is quality time!
Apr 18, 2018 6:51PM PDT
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I had that problem the first time I bought a used
Apr 17, 2018 5:33PM PDT

car from a dealer. They financed it through one of the 'we'll take anybody' outfits, although a decent one. The first time I went in the guy said they were surprised I didn't have the usual bad credit - just no credit! Happy Paying off the car fixed me up.

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Yup
Apr 17, 2018 8:02PM PDT

The world runs on that credit score.

For years I did the same as you......paid cash for everything.

I did not even have a checking account.

The bank was a 5 min walk so I would just take the cash and get bank checks.

One day I woke up and said this is nuts walking around in some mall with $100's in my pocket.

So I got a credit card and a year or 2 later I got a second card.

I alternate the cards and use them for convenience.

Pay the cards off monthly in full....no interest fee and build a credit score.

One of the cards even gives me 2% cash back.

That's not going to help you any since you need a loan today.

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And Now
Jul 31, 2018 3:12PM PDT

The Rest Of The Story .....

Ultimately , after being turned down by 7 banks , including my own bank , I decided to make a last ditch effort and try Quicken and they checked me out and said " I don't know what the others are thinking but , You Have A Great Credit Score and we can start the loan process right now " !

I got the VA loan through them and put a bunch down but Get This !
My Bank turned me down for a loan and guess who the mortgage holder is ?
Wait for it ......

My bank is the mortgage holder !
I went to my bank and chewed their A$$es out and now they want to give me a revolving line of credit

This was a long ordeal and I don't understand any of this but , I closed on the house today and plan on paying it off by next May. Than the real work begins .....

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Man, the cracks your situation fell through
Jul 31, 2018 6:52PM PDT

were all but invisible! Happy

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It's good that you are making progress
Jul 31, 2018 7:08PM PDT

Look ahead....

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