Paul S asked:


I am wondering if DECREASING my credit limit on a couple of credit cards would be helpful if and when we try to get a home loan, or is it simply the number of credit cards that matter? It seems that I have heard somewhere about the debt to income ration and that somehow ithe maximums that you can borrow can work against you even if you do not come anywhere near using those amounts. Thanks for any help on this!

Sebastian

aint_a_player_no_more asked:


I am just about in over my head with my credit cards. It’s becoming harder and harder to pay the bills. I don’t want to declare bankruptcy. Is it possible to call your credit card companies and negotiate a pay-off?? Ex: I owe $8000 could I negotiate to pay only $6000?

Isaac

emilydianemiller asked:


My hubby and I are working on improving our credit to become homeowners. Once I was told you needed to have a good mix of credit on your report to show you are responsible in all areas. We have two car loans, several student loans, and various other items.

We don’t have any credit cards, don’t really have a need for them. But everything I hear says you should have some revolving credit to show responsibility. I don’t want to get a credit card just for the sake of having one unless absolutely necessary.

Anyone with mortgage approval know anything about this?

Jesus