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Old 03-05-2004, 12:27 PM   #1
Equityguy
Vendor
Vendor Sales Rating: (0)
 
Member#: 52489
Join Date: Jan 2004
Location: Grover Beach, Ca
Vehicle:
2004 Wrx
Blue

Default Home Financing

Hey guys,

My name is Nathan Sutton and I work as a Loan Officer for Chase Manhattan. I have had the best time transforming my Wrx into a nicely tuned machine. I would not have been able to make the right choices without the ideas and advice that I found within the Subaru community and especially Nasioc. Nick and I were a little skeptical how it would be for a lender to post on this forum however through time I found that many of the people that I met in the community could use my help. So far I have been able to help friends who never thought they would be able to own a home because of bad credit and just the myth that it wasnt possible for them. I have been in the business for a long time and there is nothing that I enjoy more then helping good people achieve better financial success and having the knowledge that they have someone who they can trust. I can do loans in most every state in the U.S. and I am happy to answer any questions.
I can be reached through a personal message, or email which is nathan.z.sutton@jpmchase.com and my office number is toll free
(800) 752-2831 Ext. 206. No matter what questions anyone has, I am always happy to help.

Thanks,

Nathan Sutton

(800) 752-2831 Ext. 206 nathan.z.sutton@jpmchase.com
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Old 03-05-2004, 06:54 PM   #2
SjYankee006
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Join Date: Mar 2003
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Location: CT
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Wow, this is something I never thought I'd see on NASIOC... oh well, I guess if Nick ok'd it... welcome!
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Old 03-05-2004, 11:43 PM   #3
tcs007
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Chapter/Region: MWSOC
Location: Madtown
Vehicle:
2003 WRX Wagon
Reddish

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Old 03-06-2004, 02:31 AM   #4
BrianH
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Quote:
Originally posted by tcs007
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Old 03-06-2004, 02:58 AM   #5
gerbs
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Location: Chicago
Default

Quote:
Originally posted by BrianH
Quote:
Originally posted by tcs007
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Old 03-06-2004, 04:23 PM   #6
Equityguy
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Location: Grover Beach, Ca
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2004 Wrx
Blue

Default

Hi , yes it is a little off topic ofcourse, but I have been able to help 10 people so far, 3 of whom did not think that they had a chance to buy a house in the next 5 years. Even if you just have questions, I am here to help anyone out who has a house or is looking to buy. Let me know, even though I am in California, I can do loans almost everywhere in the U.S.. Hope all is well and look forward to getting out on the track today.


Nathan
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Old 03-07-2004, 04:35 AM   #7
benjaminetanyahoo
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MTA

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I need a loan for my sti shortblock, turbo, etc project. What sucks is I can't get one simply because of two things on my credit that I couldn't effect. I was in transit to Korea to serve my country and some bills got lost in the mail because of the time delay, yeah now they are there for who knows how long and I can't fight them. Damn it that is bogus and I'm very good with my money. I just want a loan damn it!
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Old 03-07-2004, 01:07 PM   #8
Equityguy
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Member#: 52489
Join Date: Jan 2004
Location: Grover Beach, Ca
Vehicle:
2004 Wrx
Blue

Default

Im sorry to hear about your difficulties. Question? Did you dispute your three credit reports? Have you called the company that you were late with? Sometimes you can get them to report something different based on your circumstances. If you havent done those things, I would give it a try. You might be suprised if you havent seen your credit reports to find what is on them. Are you trying to get a loan through a bank? Are you a home owner? Anyway good luck and let me know if you have any more questions.

Sincerely,

Nathan

Quote:
Originally posted by FutureSTIer
I need a loan for my sti shortblock, turbo, etc project. What sucks is I can't get one simply because of two things on my credit that I couldn't effect. I was in transit to Korea to serve my country and some bills got lost in the mail because of the time delay, yeah now they are there for who knows how long and I can't fight them. Damn it that is bogus and I'm very good with my money. I just want a loan damn it!
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Old 03-07-2004, 01:39 PM   #9
edubb11
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Member#: 23918
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Chapter/Region: South East
Location: I have a spork.
Vehicle:
2002 WRX (SOLD) :(
Sex? Yes, please.

Default

Hi Nathan and welcome to the boards.

Nathan makes a good point as far as your circumstances goes. I too was in a similar situation, I was overseas serving my country, and some unanticipated bills had been sent to my family's home, which were not paid because my folks did not know that they were bills, and only paid the bills I specifically instructed them to. As time passed, this so called 'bill' was posted as a charge off to my credit report in the measly amount of $23.00! I soon learned the impact of this type of negative mark on credit as it severely affected my FICO score. I called the credit union who posted this to my credit report, and also explained to them the soldier/sailor civil relief act. Within 30 days the mark was off of my credit report and everything is now back to normal.

I would highly recommend that you take some kind of action now, as you may have your credit health restored sooner than you think.
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Old 03-07-2004, 02:46 PM   #10
benjaminetanyahoo
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Join Date: Aug 2003
Chapter/Region: Tri-State
Location: Midtown West (Lincoln Center)
Vehicle:
2000 New York
MTA

Default

Thanks guys. I have two copies of my credit reports and all credit lines are closed out that aren't being used, but those marks apparently the reason I get declined. I thought the Soldiers Relief act was simply talking about Interest rates? Well I will look into anyways and give the companies a call because this is ridiculous. The two loans I have applied for me told me the same thing. What makes no sense is one bank, I had a 3k loan for them for like 2 years and I paid it off like 1 year and half early and they still didn't approve me. I argued with the lady because I was like you don't look at repeat customers. I was a customer with you guys and you still do my banking, I paid off a loan in half the time and that doesn't mean anything. Apparently not, I need a new bank especially now that I'm on the East Coast. Chase Manhattan is the bank everybody uses around my neighborhood so who knows. Thanks again everybody
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Old 03-12-2004, 06:06 PM   #11
Equityguy
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Join Date: Jan 2004
Location: Grover Beach, Ca
Vehicle:
2004 Wrx
Blue

Default

Hey let us know how it goes.
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Old 03-23-2004, 12:43 AM   #12
samwY
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Default

um...no
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Old 03-23-2004, 06:10 PM   #13
CosmoTheCat
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Member#: 3409
Join Date: Jan 2001
Chapter/Region: NWIC
Location: Woolley
Vehicle:
1998 Ram 2500
Green.

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What's with the rudeness? Knock it off.
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Old 03-24-2004, 03:16 AM   #14
Zdsquared
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Location: Miami
Vehicle:
2003 impreza wrx
black

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why not help me with my wrx loan its @ 9%apr i'm about to refi
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Old 03-26-2004, 10:59 AM   #15
Equityguy
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Member#: 52489
Join Date: Jan 2004
Location: Grover Beach, Ca
Vehicle:
2004 Wrx
Blue

Default

If you are a home owner I could do a Home Equity Line of Credit and at 4% your looking a decent rate and the payments are interest only. When I first got into my Wrx I had a 13% rate which was eating me alive. I was just happy to get into the beast and since have gotten it reduced to 6%. Ofcourse with the savings, I somehow have managed to spend it all on mods.
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Old 03-26-2004, 11:08 AM   #16
BrianH
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You should set up a six speed financing group buy with one of the vendors. Now that'd be pimpin.
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Old 03-29-2004, 12:51 PM   #17
Equityguy
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Vendor Sales Rating: (0)
 
Member#: 52489
Join Date: Jan 2004
Location: Grover Beach, Ca
Vehicle:
2004 Wrx
Blue

Default

That would be nice. I would be happy to help out any of the vendors in any way that I can. Let me know guys!
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Old 03-31-2004, 03:40 AM   #18
G-REX
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Join Date: Jul 2001
Chapter/Region: South East
Vehicle:
2008 Impreza STi
Dark Gray Metallic

Default

Hey Nathan, quick question. I refinanced with BoA earlier this year and took the 5 year arm at 4.325% on a 30 year. Now all of a sudden I owe like 2k in taxes! Both my wife and I claim married-0 so it makes no sense, I've never had to pay the IRS before. So my question is, did my refinance hurt me?

Someone mentioned to me that the tax and interest is is calculated over the life of the loan and since it's a "new" loan I don't get credit but I'm struggling to figure out what that means. Sorry to air my laundry NASIOC but thought maybe someone else might get into the same thing. Thanks!
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Old 03-31-2004, 05:54 PM   #19
Equityguy
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Vendor Sales Rating: (0)
 
Member#: 52489
Join Date: Jan 2004
Location: Grover Beach, Ca
Vehicle:
2004 Wrx
Blue

Default

Hi G-Rex,

The refi you did, would have no effect on your income taxes. There could be many reasons why your taxes increased but I would speak to a CPA to find out. Good luck and let me know what you find out..

Best Wishes,

Nathan
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Old 03-31-2004, 08:07 PM   #20
benjaminetanyahoo
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Member Sales Rating: (11)
 
Member#: 41300
Join Date: Aug 2003
Chapter/Region: Tri-State
Location: Midtown West (Lincoln Center)
Vehicle:
2000 New York
MTA

Default

Screw the IRS, run for a border. Seriously though, that sucks I spent 4 hours last night talking about tax scams. The man has got us everyway. I'm in the military and I want to double dip so to speak. Collect money from a contract job for tuition and the GI Bill, yeah they will find out somewhere because both get reported, how gay is that? More and more, I just need to leave the country or get a job under the table because taxes are a bitch, screw the IRS everybody not pay taxes for a year and then the IRS will have to shut down because the government won't be able to pay their employees and we will all be free :-P
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Old 03-31-2004, 08:12 PM   #21
benjaminetanyahoo
*** Banned ***
Member Sales Rating: (11)
 
Member#: 41300
Join Date: Aug 2003
Chapter/Region: Tri-State
Location: Midtown West (Lincoln Center)
Vehicle:
2000 New York
MTA

Default

Do you do VA loans? I wanna get a house around this area because it's growing like crazy especially in Chesapeake. I just wanna buy and become a landlord and have some smuck pay my mortage until I refinance and get some money, what ya think? I still haven't called abou my credit report, I'm slacking. I will definately pull that Sailors and Soldiers Act, and see what happens.
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Old 04-01-2004, 10:24 AM   #22
Equityguy
Vendor
Vendor Sales Rating: (0)
 
Member#: 52489
Join Date: Jan 2004
Location: Grover Beach, Ca
Vehicle:
2004 Wrx
Blue

Default

I can do VA loans no problem. The main things that we would need ofcourse is your DD214 and your VA Certificate. Besides that some tax returns and what not, but VA has a great program and I have done many of them. If you want to pm me we can talk further and I would be happy to help.



Best Wishes,


Nathan
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Old 04-01-2004, 07:11 PM   #23
ebeck
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Member#: 35585
Join Date: Apr 2003
Location: Scottsdale AZ.
Vehicle:
RIP I'll always be
The Ver8 Magistrate

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When you say you could do a "Home Equity Line of Credit at 4%", Is that an interist only variable rate like an AMT or something or do not mean fixed interist.
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Old 04-02-2004, 12:15 PM   #24
modvp
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Location: MD
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It's more likely to be a variable interest rate...prime rate. Fixed is uausally a little higher...like 6-8%.
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Old 04-02-2004, 08:24 PM   #25
Equityguy
Vendor
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Member#: 52489
Join Date: Jan 2004
Location: Grover Beach, Ca
Vehicle:
2004 Wrx
Blue

Default

Yeah Modvp is right . Most banks offer a Home Equity Line based on the prime rate which is sitting at 4.000%. A fixed rate does go up to the 6.000% range. Most people are skeptical about having a variable rate but the truth is that even if the Fed was to raise rates 10 times (typically raising at about a quarter percent each time) your rate would be 6.500%. Noone can predict what will happen with the economy but chances are that it would take some time for that to take place. The benefit of an Equity Line is that you are only charged interest on what you take out. The payment is low because it is interest only and the best part is that it can be tax deductable. Another advantage of a credit line is that the money is there for you at all times. A real scenario that we saw out here in central California was with the grocery stores and the strike that lasted months. I helped alot of people who were union and had to stop working with a home equity line. Other people use it for a down payment on a second home or rental. Hope that helps and if anyone has any questions that is what im here for.


Best Wishes,


Nathan
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