I had the same problem last time I installed Gentoo: $LINES is too many, creating hidden lines below the screen, which is really annoying. Last time $LINES was 28 and there was two lines below the actual screen that I couldn't see, so it should've been 26. Now it is 40 and I haven't counted the actual number of visible lines. The only difference with this installation is that I choosed another font for the console this time.

How do I fix this? I had some problems searching on google since "lines console" really didn't hit the right spot. :P Any file that should be configured?

Are you saying that once you boot you can not see to login?
You can not see all the text at the bottom?
Are you using framebuffer?

.bashinitrc is probably what you're looking for.

I have tried to use bashrc and bashinitrc to change the LINE variable but it did not help. To answer comprookie2000's question, no I was not using framebuffer. Now, though, I am using it (along with gensplash) and now it works fine.