We have his and hers matching credit scores in the low 800s (out of maximum 850 -- not bad for an immigrant -- Bank of America thinks I suck, but not my credit union! We were offered the very best ever rates, and practically assured the HELOC amount).
We now have a HELOC, subject to approval of satisfactory home value evaluation and presentation of homeowner's insurance. HELOC is for more than I planned to request, but what the hey, I need only keep the debt level to 30% or 33% to avoid being "a credit risk."
No, I am not rushing out to buy a car with the HELOC, in case someone was alarmed or was seeking an opportunity to be righteously indignant. The HELOC is for the kitchen and eventually the roof.
and the miracles keep on coming
June 20th, 2008 at 05:55 pm
June 20th, 2008 at 08:16 pm
June 21st, 2008 at 06:00 am
I'm glad I'm not the only one noticing this trend on SA...
June 21st, 2008 at 06:38 am
When my husband first immigrated, he couldn't even get a gas card in his own name. I had to add him to my cards. Now it seems that everyone in the world wants to give him a platinum this or that card.