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Tulsa Mortgage : Podcast 168 – Part 2

Tulsa Mortgage When you’re in the process so that you just don’t overlook something because in our natural. You know life when you’re just not buying a house you get busy and sometimes you go to go make that payment in Waterville. Oh no. Oh perfect example water hate the Bixby water bill because it felt like a long time you couldn’t you couldn’t pay on line or anything do like automatic payments.

Yeah it was a pain. You like go downtown sign up for this thing take a blood sample. I talked to the mayor for registering for an interview with the mayor.

You’re like I haven’t been coming to city council meetings but I really need to set up my water bill on automatic payment so that you didn’t do that. So you know what happened when we first met because our water would get we get the two day notice like we’re cutting your water off in two days. And so we get paid. I mean that’s like was like selling you to drive downtown to go pay the water bill. So now it’s set up on automatic and that’s a whole problem too because then one time $2700 water bill.

Tulsa Mortgage So they had like how they had this problem.

You know like water glitches they draft your account for twenty seven hundred bucks one day. It’s like hey I’m going to need that back because I just pre-paid for 30 years of water.

I don’t not live.

Tulsa Mortgage No I didn’t because we took a shower for 10 straight days. That’s what happened. What happened. What happened is I started doing the math and I was like Emma 14 year old daughter Emma. When you take a shower for 47 minutes it actually cost dad $400. OK. So we’re not going to do $400 showers. OK.

Let’s go to the Ritz Carlton to take a shot of this by the room for the night and then we can talk about the shower as long as you’re sure all night but everybody’s got that annoying bill that you’re like you know like oh it’s the credit union after drive across town or this deposit and put it in my savings and then.

So just get those alerts set up because if you don’t then you might run into a problem where you miss something might literally be in a van down by the river. Yeah. I mean I mean honestly because here’s the thing. Most of the time I would say like a large percentage of time whatever you do we can fix. I mean it’s just we can figure it out because it’s not always like we actually just had this happen about two weeks ago and it wasn’t like you’re denied.

Tulsa Mortgage But the guy was a 690 credit score and the accountant he was laid on moved his credit score down to a six forty. OK. So what do you think that meant for him higher interest rate higher cost. And he wasn’t happy. But like do you you missed a payment like your dear in this spot because you were late and it sucks. I get it. I’m with you. But the whole interest rate cost game that gets played is based on a reward system. Right. If you have high credit score and high down payment you get rewarded with a better rate and better cost. If you have a lower credit score you get penalized you are going to pay more. So if if you’re missing a payment right in the middle of the process up what’s going to happen is not necessarily you’re denied because you had a late this month it’s just going to be like. Well like in his case his interest rate went up by an eighth of a point and his cost went up by two hundred bucks because he missed a payment. And it’s like it sucks. But at that point where do you get it. Because the guy was literally six days away from closing and we had to pay all we have to pool what we call pre-Clovis credit we pull it basically within 10 days of closing. And if anything dramatic has changed on their credit then we have to repay like litter that they call it precludes we pull to find out.

Were there lights on anything is there any new accounts open that type of thing is what it does. Because that way we know and if there’s a major thing that’s happened like it flags it will have a late payment on something. Now I have to put a whole new credit report with a score and that’s what messed him up. So it didn’t make it a hard pull on his credit. Yeah. Yeah absolutely but that’s a whole nother that’s a whole other podcast which we’ve covered like 50 times.

We have 30 seconds. Let’s do it now.

But if it really says like I don’t want to give because of good drama because there’s a whole podcast on that. I think Tyler and I did like a podcast just on on credit score so there’s a there’s a good one there but the key here guys is just anything that works for you to make sure that you don’t miss those payments. Just do it. Set up the system. Yes. I mean I could tell you story after story after story after story. People that are literally we find out they’re in the process of getting evicted from their apartment because they thought since they’re buying a house they need to pay rent.

They haven’t given notice. You know there’s all this stuff that happens that you might only do your part to get it to pay for anything no more. Yeah. But it’ll happen like you get a judgment possible. How did you get a judgment from the time that you started like what how did this process where you have been living in that apartment.

Yeah. Trying to get a house that’s why we were getting a house because we didn’t want to pay rent for the last four months.

So the key is if you want to get a mortgage you want to get approved and you don’t want to pay a higher rate or terms.

Tulsa Mortgage Make sure that you’re not missing any payments on any of your current accounts that you’ve got whether you believe they’re reporting to credit or not it doesn’t really matter.

Broadcasting live from the koala’s studios in Tulsa Oklahoma. You’re listening to the Steven Tyler show