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What types of credit can qualify as alternative credit for tradelines?

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Forums » For Mortgage Professionals » Loan Scenarios » What types of credit can qualify as alternative credit for tradelines?
 

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Latest post Mon, Feb 9 2009 5:22 PM by MisterVA. 3 replies. Viewed 723 times.
Page 1 of 1 (4 items)

  • Mon, Jan 19 2009 12:58 PM                

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    I have a lender where I need a total of three more tradelines from my borrower.

    In similar circumstances, what have you all used as alternative forms of credit for tradeline conversion?

  • Mon, Jan 19 2009 1:18 PM                 In reply to

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    Phone, utility, insurance, rental history, cable, all come to mind.

    PREMIUM MEMBER
     Going the extra mile is my normal route, even with today's gas prices.
    Kent Mikkola, Mortgage Consultant, M & M Mortgage, LLC, 1700 W Hwy 36, Ste 130, Roseville, MN 55113, Direct 651-558-9807, kmikkola@themmmortgage.com

  • Mon, Feb 9 2009 4:13 PM                 In reply to

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    I've used tradelines as off the wall as storage facilities, children's day care and private school tuition.   

  • Mon, Feb 9 2009 5:22 PM                 In reply to

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    Those rent-to-own places with the weekly payments are possible sources, too.  Although, I would not pay $1500 for a $300 TV myself.

    PREMIUM MEMBER
     Paul Chandler, Certified Mortgage Professional
    Prime Lending
    pchandler@primelending.com
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