Andrea Andrea, FHA, Shannon discussed on Clark Howard
What kind of number would you guess you're at now from monitoring on credit karma? Okay. It's a little bit different than running for a house. I found right credit, karma says on at six sixty and the mortgage mortgage credit score than is at, like six thirty six twenty five six twenty eight. The Nedal in it was six twenty eight. Okay. And that's enough for you with many lenders to qualify for an FHA loan. Right. Okay. And I'm doing it to emit credit union. I get the went through my older. Brother got integrated Indian, and I have occurred from my at my highest limit, but I have one that you said, you talk about all the times that double cash of the city double cash. Yes. Okay. I don't know if I should go ahead and get that one because it's a lower interest rate on any of the other ones that I don't, don't do it till after you have closed on your home. Okay. Because, you know, the applications for credit close to when you're buying a home can get the mortgage, underwriters say, there's something here was Shannon. We're not gonna do this with her so you don't want to upset anything by applying for any new credit now. Okay. But once you're established in your home, and all that, then it's fine for you to get the city double cash, but the double cash is only useful. If you never run a balance on it. Gotcha. Yeah. They like a little booklet. So you could see. And I'm reading through it, I'm like, okay, well, I get it. I always heard you talk about it, so I didn't want to check with you know, if I should cancel it three hundred third. No. Definitely keep that open because it's helping you at showing a line of credit, this aging, it's showing that your utilizations helping your overall utilization, rates, and I'm really impressed with you having had difficulty with credit how you're working step by step to rebuild and. Never needed credit. I was married, which he ruined my credit. But then, you know got divorced anything. My parents raised my son. They did a guy so he took everything of everything. So I didn't have to have any credit I live with him. He paid her rent now forty four years old. And I'm thinking, oh man, I gotta do something. Well, now you're standing on your own to FINA sounds like you're doing pretty well. So for Lincoln, I'll get that setup and LA. I'm love this. You know, you don't you don't conquer everything in a day, and you're doing step by step. You're teaching yourself. The tools to have a really solid credit record. You're moving towards buying that house. You're looking the next step of establishing long-term savings for your retirement. This is excellent. This is great and inspiring, Shannon. Andrea. Andrea is Andrea. Andrea is with us. Andrea andrea. I had a fifty fifty shot now still got it. Wrong didn't I. Yes. How are you? Great. Thank you longtime listener. So thank you very much for taking my call. Certainly this group. Is that my daughter's payment and several other bands that are friends with us have been using a particular crowd funding site, specifically for artists and over the last couple of years? They have started to be some problems, specifically around January of this year and payments already getting withheld, even though campaign's raised tens of thousands of dollars, some even close to one hundred thousand dollars, and the, the company has been withholding payments, and now you can name them. This is a news story. Go ahead and just name who were talking about. Okay. Yeah. Pledge pledge music. Yes. A pledge music has been in financial trouble for a while. The whole idea of was that independent bands that were, not at a point. Point in their band life that they could be under the umbrella of one of the big labels were out there. Trying to really make it. And so this was a kind of like a crowdfunding kind of platform fully music acts and they been trying to sell it. They failed and there's millions of dollars collectively that else actually they, they have some really big names now because people are choosing to do this instead of being with record labels. But, but the newest I and I'm sure you've probably noticed that they the CEO announced sort of sketchily, not through their site, but has announced that they're in the British equivalent of bankruptcy. They just announced it on Thursday or so let me tell you what happens. I'm not going to be the bearer of particularly good news in the British version of bankruptcy. It doesn't always but generally leads towards just a straight liquidation. They don't businesses do what so often has done here, which is chapter seven where a business is given protection from its creditors. And they're given an opportunity to reorganize and try to stay in business. So in our system, the idea is to try to keep the business alive in the British system. The idea is to shut it down. Immediately doing accounting and see how much money can be paid back to people who are owed money. Yeah. I see. Okay. So it's possible it's possible that someone will want to save it, and we'll come forward to do so but I mean who knows because it's very rare like, I think about when an airline goes bust and Britain, there's just done, and when an airline goes bust in the United States, they just have one life after another after another. And they some of them have been bankrupt three times and they're still flying. So it is a different business method of dealing with and solvency. Right. And she, so, you know, the fans are just so well, the band, of course, are, you know, getting messed up. But also, the, the tens of thousands of fans who donated to their bands. I mean, it's, it's crazy taping when because it's like the only thing they have to do is to keep all the donated money in escrow. But yet they clearly spent it and in their terms of service, it states that no money will be spent it all be held on account. And clearly they did not do that. So I know that the British musicians union is trying to bring criminal charges. But in the meantime, the artists are trying to just get the word out to everyone that they should try to have their fans get credit back from the charge it as a fraudulent charge on the credit is charged back. That's interesting concept, I've not seen that in any of the stories about pledge music, but that is a smart idea. If you have contributed to a crowd. Funding for a band you love. Right. And for the band's themselves, it's gonna be a while, not as long as is in the I'd say, it'll be a while, probably months before, it's clear if there's money, that's gonna come out of this to reimburse bands partially for the money that's been held, and I wish I had a much more positive rosy picture. I could draw. But unfortunately, I can't in this case you're listening to the Clark Howard show. Ten.