Might not be a member no more

[RoyalCanadian]

Especially those Canadians...they must hate our freedoms too

Nope -- we like your freedoms.(although I'll never understand why you can make Jack Daniels in Lynchburg, TN, and you can drink Jack Daniels in Lynchburg, TN but you can't buy Jack Daniels in Lynchburg, TN. Does it have something to do with guns? It must have something to do with guns.)

We think your Constitution is pretty darn good too. Your Bill of Rights is nice. The Declaration of Independence was a nice thing for those merchants to write during their tax protest during the rebellion. We thank you for kicking out the brightest and the best of American society in 1784 so we could start forming Canada. That was nice of you.

However, as the Canadian ambassador to the United States recently said, you guys just have a dysfunctional government with a bureaucracy so huge that additional bureaucracy must be created in order for the bureaucrats to navigate their way through the bureaucracy.

 

[LakeAriel]

dysfunctional government ...


That's an understatement!!!

 

[RobDoc]

This has drifted far from the original topic about someone being declined for credit by DVC.

Please keep comments to the topic.

Thanks

 

[Dean]

Dean, they allow anyone 18 and older on the contract.

I realize that they can allow anyone of legal age on the deed. The question was whether they had a minimum age for loan approval though I doubt they do, but some timeshare do.

Why not? He's making a down payment so DVC has some cash up front. Even if he defaults DVC takes the points back and resells them. It's not like he's purchasing a car which looses value as soon as it's driven off the lot.

But there are costs involved on the front end and in any foreclosure. I'd figure 20% is not quite at the break even point but likely close enough to take a chance.

 

[mattsdragon]

If you are paying off your credit card monthly so there is no balance, that could be a problem. I didn't realize this either when I was younger, I thought that paying it all off each month was good for your credit rating. But what it shows is that you are basically just paying cash for everything and not using credit. You need to use your card to make large purchases, which you then pay off over time. This establishes your crediblity. It's the same thing if you buy a car in cash, it's great that you could afford to do that, but it doesn't prove anything to banks. As far as they know, you just inherited money, or had a good day at the track. They want to ensure you are going to be able to pay regularly.

 

[kritter]

sounds like there is more to the story here and you are not giving us all the "full" story here...Maybe there is another reason..Should you maybe have some other debt that you are not aware of??