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Tulsa Mortgage :  Podcast 28 – Part 1

Steve: This is stevecurrington.com and this is Steve and Tyler show and episode number 28.

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Tulsa Mortgage  Automated voice: Welcome to the Steve n Tyler show with stevecurrington.com and Tyler Wyburn.

Steve: Who negotiated a contract for you?

Tyler: A realtor.

Steve: You’re pretty smart. Good for you, man.

Automated voice: They’re talking about everything you need to know about mortgages, home loans and more. Nobody knows mortgages like these two. Get ready, because here’s Steve and Tyler.

Steve: Tyler, what’s happening? Who knows mortgages more than Steve and Tyler?

Tyler: Nobody.

Steve: Nobody, nobody knows. Tulsa mortgage like stevecurrington.com. I’m a singer, I bet you didn’t know that. I bet you didn’t know it. What are we talking about today, Tyler?

Tyler: Talking about things to not do during the mortgage process and today we’re talking about don’t miss any payments on any lines of credit. Especially mortgage payments.

Steve: That’s right.

Tyler: Pay your bills.

Steve: Pay your bills. That’s all [unintelligible 00:01:16] is asking you to do is just to pay the bills. Because if you don’t pay the bills then it’s going to mess things up. What can it do? What have we got for people today?

Tyler: Well, few things they can do. Could do more, but– Late payments on open credit reduces credit score substantially.

Steve: That’s right.

Tyler: Late payments can affect your loan approval and a late mortgage payment can lower your scores much at a hundred points.

Steve: That’s right.

Tyler: That’s a big one.

Steve: A hundred points for one?

Tyler: For one. One late payment.

Steve: On a mortgage?

Tyler: Yes.

Steve: Why would you be late on a mortgage when you’re trying to buy house?

Tyler: How many people call us and say, “Do I need to make my mortgage payment? Are you sure? I need to make my mortgage payment, right? Or no, no, I don’t have to? We’re closing next week, I don’t need to make a mortgage payment”. Happens all the time.

Steve: Yes, guys, he’s right about that. It does happen all the time.

Tyler: Those are just people that call us and ask us.

Tulsa Mortgage  Steve: This is true. There’s another set of people, don’t call us and ask us. Here’s what is comes down to then, I mean for me it’s just you have to make sure that– here’s what I tell people, “Your credit’s amazing, keep doing what you’ve been doing. Keep doing that. Don’t stop doing what you know you need to do when you’re buying a house”. Because why would they need to change? Keep doing on your credit making payments on time, doing all that stuff, because if you don’t, it’s just going to be painful. It’s going to be super painful. Hold on a second. That was an exciting holly cow. That’s not the kind of holly cow you’re going to get when I find out you didn’t make the mortgage payment last month. You’re going to get a shaking my head.

Tyler: You’ll probably get the crickets, actually, for a minute, a solid minute.

Steve: Yes, that’s what is going to happen in the underwriting department in the underwriting room with the underwriting machine. [unintelligible 00:03:30] to tell those kids at school there was a spanking machine. In a room, there’s was a giant spanking machine. When you don’t make your mortgage payment, there’s a giant underwriting room with a giant underwriting machine in it. And that’s what it turns into when you don’t make your mortgage payment. It just can’t work.

I have got all the underwriting machines go home for the day when that happens. They just throw their hands up in the air and they say, “What the crap? No more Tulsa mortgages get approved. None. Zero. It ain’t happening”. Because stevecurrington.com did not make his mortgage payment while it’s a known process. Yes, what do you think about that, Tyler?

Tyler: It’s a big one.

Steve: Late payments on open credit reduces credit score, late payments could affect your loan approval and a late mortgage payment can lower you scores much as hundred points. In fact, late mortgage payment is like you’re not getting a loan. Really, if you had a late mortgage payment last month, it’s probably means you’re not getting a loan.

Tyler: For a while.

Steve: Yes and just so everybody knows, I can see Tyler shaking his head like agreeing with me, but he hasn’t figured it out yes that he– that the radio, the microphone, doesn’t take off his Tulsa mortgage head checking. I did that so I could put Tulsa mortgage by the way. I’m finding out as I’m trying to go live on the Facebook, that you cannot post a picture and go live at the same time. What else, Tyler, what do we got?

Tyler: People think they miss on a small, $25-$50 payment on a credit card won’t hurt them that bad, but that is not true. Definitely not true.

Steve: Yes, “It’s only a $25 payment”. What’s the problem with that?

Tyler: The problem is, it’s a late payment. A late payment is a late payment, is a late payment. That’s what it is.

Steve: They don’t consider the fact that it’s only 25 bucks.

Tyler: No.

Steve: But it’s only 25 bucks.

Tyler: Okay, that’s fine, it’s only your credit score.

Steve: What do you think, we don’t really talk about this, but trivia, what do you think having a late on a credit card does to your credit score last month?

Tyler: Last month? Tend to drop it, obviously.

Steve: Sure, how much?

Tyler: 20 points, 50 points.

Steve: 60, 70 I think, I’m just guessing.

Tulsa Mortgage  Tyler: I think it depends on your credit profile for sure.

Steve: What do you think on medical collection? Did we talk about the lady that had two medical collections?

Tyler: No, we haven’t talked about her.

Steve: She’s 710 credit score, she had a $35 medical and she had a 70 on her. If those were not on a credit, where do you think her score goes to?

Tyler: She’s an 800 plus.

Steve: She was an 810, it was literally was a 100 points. It was like a 103 points, she was like an 813. Perfect. Her credit was perfect.

Tyler: Two small medical collections.

Steve: If a little bit medical will do that to you, a late payment and that’s just a 30 day. Imagine if you had a 60 or 90 day. We just had a girl that had a 60 or 90 days and was like a Helzberg account, remember that? She did not get approved. It was too much to overcome along with all the other things. Her realtor claims someone else is approving her loan right now, but not this Tulsa mortgage company. We’re not–we do not do loans for people that don’t pay their bills, sorry. Let me take that back. We do loans for people that need help. I can only help the willing and if you continue to have bad habits with your credit, it’s probably that you’re going to be approved by me or anybody. So it’s not just a Tulsa mortgage we’re talking about, that’s pretty much anywhere. I don’t care if you’re in Alabama.

Tyler: People have problems. Things happen. It’s understandable.

Steve: Yes, bad things happen to good people.

Tyler: It’s overcomable.

Steve: Overcomable is not a word, I just want to clear-

Tyler: It can be overcame.

Steve:-I just want to be clear that we did not approve the word overcomable, at the begging of the podcast, Sometimes Tyler uses words that are not approved, overcomable is not endorsed by stevecurrington.com, not approved by stevecurrington.com. Go ahead.

Tyler: I like that. If bae can make it into the dictionary, I think that overcomable can make it to the dictionary.

Steve: What is it?

Tyler: Bae.

Steve: Bae is in the dictionary?

Tyler: Yes.

Steve: Ain’t is in the dictionary because people used to say ain’t ain’t a word because it ain’t in the dictionary.

Tyler: We’re Tulsa mortgages here, and we say ya’ll, and that’s in the dictionary.

Steve: You all.

Tyler: It’s y’all.

Steve: You all.

Tyler: Y’all

Steve: You all.

[music]

Tyler: I’m sure its not ya’ll that it would?

Steve: I don’t know, it never kicked into any whipping. I need to really get my soundboard sounds under control.

[music]

Tulsa Mortgage  Steve: I think that needs to be our new story time.

Tyler: I almost took a nap.

Steve: Really?

Tyler: Yes.

Steve: Tyler been yawning all morning and he just said “I think I’ll just take a nap”. I think he’s been asleep the entire time. That is no secret. The bear barrel polka.

[music]
Steve: Just trying to mix things up from the boring talk about Tulsa mortgage. Some people think that missing small a $25-$50 payment on a credit card would not hurt them that bad, which is false. Also, did you know Tyler, that revolving credit, credit cards, department store accounts, that kind. Revolving means it has a limit, you charge up, you pay down, pay off, every month, make a payment every single month. 30% of your credit score, this is what I tell people. What do I tell people? I say, “It’s like being in school, trying to graduate with a 4.0,” you know you scholars that graduate with honors and get a 4.15 try to graduate college or high school without taking all the required curriculum.