They are in a so called crisis....but yet they wont approve me for a loan because my credit is under 700....WTF?? if that's all they are approving then i hope they do go under...but what really pisses me off is that Im a 26 yr old...VETERAN and I cant get approved for a loan for the life of me but I guaruntee if I were an immigrant I could get a 50K loan without a blink of an eye.....i know this because I see it all the time. this is sooo stupid and they wonder why no one is buying.

 

why? i say why??? you can thank your new commander in cheif bro

 

Man, that just isn't right. Number one, anyone who serves or served should get first shot at any loan or basically anything at all. Number two, that credit score should be enough for you to get a loan no matter what.

 

As sad as it is to say, when loans were handed out like candy and ppl lost their jobs or mindlessly squandered their vehicle payment and defaulted on them...ppl that did the right thing pay the price for it.

 

Yup, i've been ontime for all of my mortgage payments and because of that i will pay more for my house. You do know they are renegotioating defaulted members so their payments go down so they can keep the house they shouldn't have purchased in the first place.
Anywho, YES they are denying anyone that is under a Tier 3 which is under a 700 middle score. they are doing this because they have no other choice as mentioned above. You'd think they would lower it to a Tier 3 so they can sell some vehicles????


Also, i don't know what's goin on yet about the score tables changing? Before it ranged from i think 300-850+. Now it starts at 600 i think and goes up to 990 or something. I dunno how it efects everyone yet or if anything has gone through?

 

I really do hope GM goes under, not so sure about Chrysler.

 

the ONLY good thing about chrsyler going under is if the dealers had to blow out their stock for real cheap. maybe i could get a mason dump for 10k!!!??

 

Up to 900 now huh?!! Thats nuts. I have a 760 score, and my wife is 800, and we had a hard enough time getting pre-approved for $30,000 auto loan. Yet when we went to buy our house, $300,000 was immediate. And no, we are not delinquent 'dog.

 

I would presume 760 or 800 is delinquient at all. My middle score isn't even that high yet I have never missed any payments ever. I do have like 80 something total accounts that are open and closed combined...lol I'm a total credit card abuser. They were sending me tons of 0% for a year and i would dump all that money into high yield savings cd's and make free money....lol 2yrs ago i got a credit line of $75k. I took $74k and put it into CD's and made some good money. Like $3500 in one year doing absolutely nothing
Now that all lenders are otherwise broke, no more 0% for a year. i think it's been like 3 months since i have recieved a credit card offer for 0% intro. i was getting 2 a day before the whole economy slump.

Car loans are tougher to get because it's very easy for people to default and say, ahh the engine is blown come repo it. What they don't realize is that the bank will sell at the auction for stupid low money and you will have to mcover the difference on your credit!

 

GMAC received 6 billion in the "stimulus" package to lend to sub-prime borrowers looking for car loans. How this is a good idea is beyond me, but you may want to look at GMAC, as they supposedly have money (taxpayer dollars, so my money, your money, etc) to loan to people with 619 FICOs or below.