All Forum Posts by: Account Closed

The Federal Reserve is exempt from anti-trust laws.

Nice thought, but it is a non-starter.

Use the credit cards to do it, that way it will be free! /snark

There are much better ways today to use leverage than an LOC.

Does it have an adjustable rate? If so, it is going to skyrocket by 2011. Tapping the LOC will impact your FICO more than getting new loans for purchase.

I could go on, but the net is, I would recommend against it. The risk is higher than you probably think it is.

Can we send The Chosen One to France? He might actually be a citizen there. /snark

Of course no one asked you the most important question in my opinion...

Are these negative items legitimate? I am not being a jerk, I know there are legitimate reasons many people get themselves into trouble with credit. But, if these items are legitimate they are going to be much harder to remove.

One thing these credit repair companies don't share is they can often get a legitimate item removed because the creditor does not respond with proof within the allowed time. However, there is absolutely nothing preventing that legitimate item from returning at some point in the future if the creditor does decide to get off their butt and resubmit with proof. Historically, most who fail to respond in the allowed time never go through the steps to get them resubmitted.

But, times they are a changin' and that practice may go the way of the dinosaur.

You got some really good advice here and there is absolutely NOTHING a credit repair company can do that you can't. Submit the disputes, do it in writing and HAND WRITE the letters. Dispute one item per letter and DO NOT mail all of them all at once. If you spread them out they are more likely to assume you have actually researched each of these on your own.

There is a good chance if you are persistent you can get most if not all negatives removed.

However, the bureaus are offering a fairly new product allowing creditors to see what your FICO "was" at intervals depending on what level of service they buy from the bureau. Responsible borrowers don't have large or cyclical swings in their scores. More and more creditors are starting to look back to see if there has been a large upward movement in the FICO and asking the buyer to explain why it happened.

Single member LLCs are being pierced more and more often by courts. That is a fact.

Your asset protection strategy should be as complex and convoluted as your paranoia dictates and your pocketbook can support.

Gary with 3 properties the bigger question is where do you want to go? If you think you are going to max out at a hand full of properties an aggressive insurance strategy MIGHT be the better way to go. If you are looking to grow bigger and will eventually hire employees and such then sit down with a competent attorney familiar with this business and they will help you figure out a comprehensive strategy.

Jenny, whatever you do, no matter who recommends it, DO NOT READ Atlas Shrugged by Ayn Rand. :wink:

Now to your point, we are in interesting times. It might be that you need to adjust and restructure to stay under the radar and accumulate assets and cash in ways that minimize your tax exposure until a more favorable political climate comes about. It always does.

This is exactly what I and many who think like me are doing. FWIW, I am no where near the $250K by choice and I am further reducing my taxable income to the absolute bare levels. I am doing this because I choose not to participate in the socialist programs being forced on America.

If things change and the way I have things now doesn't work. I will change again. As Tim W pointed out, there are always loopholes and exceptions.

Harrison that is an incredible quote, I'd like to use it, do you know who it came from so I can give the proper attribution?

Okay, well, you seem to have talked yourself into your choice.

Personally, I think it is a mistake to take that kind of risk. But, that is what makes this country great. We each get to make our choices from the options before us and accept the consequences of those choices.

Often, but not universally true.

The cost is small though, get the policy.

Title insurance required by a lender ONLY protects them. If you want protection you must get a buyer's policy too.

Always, always, always get a buyers title insurance policy, even if the lender doesn't require it or no lender is involved. It is not very expensive.