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Bending the Rules Credit-wise & Other Updates

June 27th, 2007 at 02:42 am

This was a new one for me, however it was explained to us as something being done "all the time" in the mortage business.

Mom was asked to add a family member on to 3 of her high limit cc acounts (all at zero balances) just long enough for the credit reporting companies to add the family persons name & account. This makes the credit of the person in question broad, or varied they explained. As soon as the report is noted, mom can take the person off the accounts. (which she will do) So, there is to be no risk to her.......she feels like she is helping in a family situation and I am just going to watch.

I'm not a betting person, but I'm willing to put money on this family person not being able to maintain a mortage .....if it happens in the first place. Buying isn't always a good choice for some. Although continued renting isn't a great option either, it seems to have so much less risk in this situation.

I'm grateful I don't need someone to work the system as it was explained to us.

Plumbing Update: None. No info. Nothing. Basement floor & wall are still dry. Just too frustrating not knowing how it got so wet, and obviously many times before. Mom said this AM "It's a good day if we don't see water".......I feel just the opposite. I think it is just nasty I can't come up with the problem! Wish I could see some water & nail down where it came from & when!

Historic Happening Here: I turned down money. Yep. Found 3 gentlemen to divide up the first round of cured wood dad had been saving to turn or carve. One of them asked what I was selling it for, and I turned it down. Dad would have shared before selling.....so that is what we did all day again today. There are 3 pretty excited woodworkers here in the Pacific NW tonight!

Posted in no $pending day | 5 Comments »

5 Responses to “Bending the Rules Credit-wise & Other Updates”

  1. mbkonef Says:
    June 27th, 2007 at 04:33 am 1182918824
    1182918824

    Good for you on sharing rather than selling. It sounds like you are honoring your fathers spirit with this and I am a firm believer that what goes around comes around so you have some good will out there that will find its way back to you at the right time.

  2. Ima saver Says:
    June 27th, 2007 at 02:28 pm 1182954504
    1182954504

    That was nice of you!

  3. fern Says:
    June 27th, 2007 at 03:16 pm 1182957364
    1182957364

    Yeah, sometimes feeling good about doing something for another person trumps the money. That was nice of you.

  4. baselle Says:
    June 28th, 2007 at 04:13 am 1183004034
    1183004034

    I understand the impulse to help the family member, but be careful with the credit shenanigans. It is in many ways an attempt to defraud.

    The sharing of wood was great! Hope the wood workers share with you what they did with it! Big Grin

  5. boomeyers Says:
    June 28th, 2007 at 04:21 am 1183004494
    1183004494

    How wonderful you got to share your dads legacy! I wonder what beautiful things they will create!
    Hope you get water soon??!!??

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