The credit card utilization is already calculated into your credit score. Lowering the utilization will raise your score but you would have to do a rapid rescore to see the immediate results. The more likely remedy would be to add more reserves, increase down payment or lower debt ratio.... more
A short sale, in any form, is the same. You never know. They could drag it out for months or weeks or they may never answer you on your offer. Nothing surprises me on short sales. They might just wait for a better offer without answering you, that is very common.... more
Good Evening Lindy:
First, I am so sorry to hear of your situation--this is not a fun place to be!
Lease-options, etc. can be very tricky business, and often may turn out not in your favor. Calculate all of the costs involved in renting vs. trying to buy this way before pursuing this!
I do have a townhome in Dunedin that has potential for owner-financing, and a house in Holiday--please do check my website (1515 Bayshore and 3933 Darlington are the listings), and if you think you might be interested give me a call and we'll talk more. Please have all financial information ready--the same stuff a bank would require:
pay stubs, tax returns, bank statements, financials (all bills, credit cards, etc.--a credit report if you have one)... more
Banks have downsized their staff over the past 3-4 years to cut costs and when market activity picks up, especially in spring, the entire loan process is slowed down. You might need an extension of your loan contingency.