He Lost Out on That One
By marcyaz
@Marcyaz (35316)
United States
February 9, 2016 7:19pm CST
I had written about my son was trying to buy a home but he had a call from the bank that he didn't have enough credit so they turned him down.
Today he went to the Credit Union and he has more papers to fill out and and appointment at 10 am tomorrow and I will go with him and see if I co sign it might help him.
I don't understand as he has a good job and has money in the bank for a good down payment but like I have told him if you pay cash for things you don't build your credit up which he has now found out.
Wish us luck....Tomorrow
12 people like this
12 responses
@DeborahDiane (40290)
• Laguna Woods, California
10 Feb 16
It is much harder to get mortgages these days than it was in the 1990s and before. I have my fingers crossed for your son!
2 people like this
@Marcyaz (35316)
• United States
10 Feb 16
@DeborahDiane Thanks for crossing the fingers, the real estate agent thinks he has a better chance if he goes to the Credit Union so we shall see what they have to say this morning.
@Blondie2222 (28611)
• United States
11 Feb 16
Yup cash doesn't build credit. I have a debit card but I do not own any credit cards as I don't want the hastle of spending too much and then be dealt with the bill later. I wish him luck and hope he can get the house.
1 person likes this
@Marcyaz (35316)
• United States
11 Feb 16
@Blondie2222 I only use my credit card when I have enough money in the bank to cover whatever it is I have bought that way no problem.
@VivaLaDani13 (60794)
• Perth, Australia
7 Mar 16
Wishing you all the best of luck! Really hope everything works out!
1 person likes this
@Marcyaz (35316)
• United States
7 Mar 16
@VivaLaDani13
Thanks, he went to the credit union on Friday and he was told they are waiting on the appraiser but it looks like the appraiser is about 2 weeks behind so it is still a waiting game.
1 person likes this
@VivaLaDani13 (60794)
• Perth, Australia
7 Mar 16
@Marcyaz I swear the waiting game sucks. No matter what the occasion is.
@marguicha (222893)
• Chile
11 Feb 16
have never understood that credit part in the US. Here you have problems if you don´t pay your debts. Otherwise, the Bank wants to know how much you earn and if you have other assets.I
@nezavisima (7408)
• Bulgaria
10 Feb 16
credit card that is not very nice.
but one must have a card for emergencies.
1 person likes this
@Marcyaz (35316)
• United States
10 Feb 16
@nezavisima We went this morning to the Credit Union to see about a loan on the house he wants to buy and went they checked my credit it now looks like his loan will go through as I am co-signer for him.
@wolfgirl569 (106066)
• Marion, Ohio
10 Feb 16
He needs to get a credit card. Us it every month and keep it paid off so he dont get charged interest. He will have a good credit rating in no time
1 person likes this
@Marcyaz (35316)
• United States
10 Feb 16
@wolfgirl569 He will listen now and try to get a credit card.
@PainsOnSlate (21852)
• Canada
10 Feb 16
Good luck to your so and you. It's important to have credit. It makes the world go around.
1 person likes this
@Marcyaz (35316)
• United States
11 Feb 16
@PainsOnSlate Hopefully now they will give him the loan since signed as a co-signer. It was much easier dealing with the credit union then the bank.
1 person likes this
