Posts by Gary Stewart78

Gary Stewart78 said:I’m right there with you, folks 😉

In my view, whether HROK gets up and running or not doesn't really change much for us. Banks have plenty of other ways to hedge their bets and protect themselves. As long as you're sticking to the terms of your contract—you know, keeping those monthly payments coming in on time—the bank isn't going to be losing sleep over my personal business or what's happening in my private life.

Does anyone happen to have any inside track on this? What’s your gut feeling—do you think we'll actually see HROK become operational before the year wraps up?

Has anyone heard any recent updates regarding when HROK will finally open up for citizens? 🤔

Gary Stewart78 said:Just wanted to breathe some life back into this thread 😛

Has anyone had any "recent" experiences lately when it comes to applying for a loan over at Wells Fargo? 🤔

Thanks!

Seriously, has nobody tried pulling a loan through Wells Fargo in the last two years? 🍿

Just wanted to breathe some life back into this thread 😛

Has anyone had any "recent" experiences lately when it comes to applying for a loan over at Wells Fargo? 🤔

Thanks!

I’m right there with you, folks 😉

In my view, whether HROK gets up and running or not doesn't really change much for us. Banks have plenty of other ways to hedge their bets and protect themselves. As long as you're sticking to the terms of your contract—you know, keeping those monthly payments coming in on time—the bank isn't going to be losing sleep over my personal business or what's happening in my private life.

Does anyone happen to have any inside track on this? What’s your gut feeling—do you think we'll actually see HROK become operational before the year wraps up?

rapidskipper12 said:Gary Stewart78, just give it a shot. All you're losing is your sanity, the hassle of gathering paperwork, and the endless wait for approval... 😉

He’d be absolutely right if I didn't have to pay off both properties simultaneously upon committing to the purchase 😵

But seriously, does it really make sense for banks to demand proof from every single financial institution that I don't have any outstanding loans, especially when half of them don't even have a local branch in my city?!? 👎

Rebecca Green7 said:It isn't possible.
New data hasn't been fed into HROK since May 25th, but all the existing records up to that date remain fully accessible.
Besides, an American bank isn't going to hand you a loan based on a handshake or "good vibes." They require pay stubs, bank statements, credit card history, debt disclosures from other institutions, and so on.

First off, thanks for the reply, but here's the actual situation:
Yes, HROK has all my records up until May 25, 2018. And I've been incredibly diligent—solid income, perfect payment history. In twelve years, I haven't missed a single due date on a bill, let alone a loan or a credit card. Honestly, everything has been handled perfectly (all my previous loans and debts were cleared over three years ago).

Regarding the mortgage, I was actually at JPMorgan Chase a few days ago, and they told me that instead of relying on HROK, they now want to see my checking account statements and details for any credit cards I might hold. They didn't mention needing official clearance from every other bank to prove I don't have existing debt.

Are we really expected to bring in proof of non-indebtedness from every single one of the more than twenty different banks out there?!? 😲

I'm asking because I have a real opportunity to pick up two apartments—one in a prime location for rentals and another to live in. Both properties are priced well below market value, so if anything ever went sideways, the bank could "easily" recoup their money. Plus, I don't see why they'd even bother triggering the mortgage if payments are being made regularly, regardless of whether I already have another loan tied to my monthly income.

To my way of thinking, it’s no different than taking out a home loan and then losing your job; the bank doesn't care about your employment status, they only care about whether you can cover the monthly installment, right? 🕺

Given that HROK has been effectively "out of the picture" since May 25, 2018, I’ve been pondering a bit of a hypothetical scenario. Is it actually possible to take out two separate loans from two different banks at the same time? Specifically, could you theoretically purchase two different apartments using the same credit capacity—say, based on your single salary? My thought process is this: you rent one place out and live in the other, which would leave you with enough cash flow to cover both mortgage payments simultaneously.🤔