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credit: Broke? You're in good company! - 07/08/09 02:28 PM
With MJ's parting this week - it reminded me of a book on my shelf...
THEY WENT BROKE?! by Roland Gary Jones
MC Hammer, born Stanley Kirk Burrell, sold some 18 million copies of his album, Please Hammer Don't Hurt 'Em. Even though he won Grammy's and earned over $50 million in the 1990's - he filed Bankruptcy. "It's time to stop the bleeding and get on with my life," he told one reporter when he filed.
John Wayne, Sam Walton and Donald Trump all sufferd financial hardships too! John Wayne at one time invested millions into get rich schemes from, "Hair … (5 comments)
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credit: First Time Homebuyers! Get Your $8000 Piece of the Bailout! - 03/03/09 10:10 AM
There is a silver lining to all of this Bailout Business (thank goodness!) and it applies all First Time Homebuyers! In the recent stimulus package, Congress, and President Obama wrote in a $8000 Tax Credit for First Time Homebuyer's who purchase a home between January 1, 2009 and December 1, 2009 (that's right, the actual law says DECEMBER ONE, so you need to close by November 30, 2009!)
The actual Credit is $8,000 or 10% of the purchase price, whichever is less. It is a CREDIT. This is much different than a Tax Deduction. If your total tax liability came to $6,000, but you … (22 comments)
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credit: Credit Boo-Boo's - 02/16/09 09:30 AM
This is a repost from last year....
Does your credit look like a train wreck? I've talked to several clients recently who hit a rough spot - and are working their way out. They had some questions I thought other people might need answered too!
How long does negative information stay on a credit report?
The Fair Credit Reporting Act says that negative information can stay on your report for a minimum of seven years (I always thought that said MAXIMUM - but I was wrong). There are some exceptions to this:
* Delinquency information like late payments remain for seven years … (3 comments)
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credit: FICO No Longer Available to Consumers - 02/05/09 02:37 PM
Yesterday, Experian and Fair Isaac decided to end their relationship... and the result will be that in a few weeks, Consumers will no longer have access to their FICO scores.
"Currently, myFICO.com is the only place you can purchase your FICO scores based on your three credit reports
from Equifax, Experian, and TransUnion. After February 13, 2009,
you won't be able to purchase your Experian credit report or FICO score
through myFICO.com. Moreover, you won't have access to your FICO score based on Experian data at all."
As a lender, we will still have access to the scores, and … (9 comments)
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credit: What is in the House Stimulus Bill 01/28/2009 - 01/29/09 09:23 AM
This is only part of what the Homebuilders and NAR were looking for - but having the FHA limits here going back up will help... especially when you look at the new PMI guidelines that are coming out. (For information on the Genworth changes announced yesterday, click here going to minimum credit score of 700 in many markets)
Via Pederson Properties, Inc. (Coldwell Banker Residential Brokerage):
Last night, the U.S. House of Representative passed H.R. 1, the Economic Recovery Package, by a 244 to 188 vote. The bill contains a number of issues critical to REALTORS® and the industry, including the extension, … (5 comments)
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credit: Do You Have Credit Boo Boos? - 02/27/08 02:07 PM
Does your credit look like a train wreck? I've talked to several clients recently who hit a rough spot - and are working their way out. They had some questions I thought other people might need answered too!
How long does negative information stay on a credit report?
The Fair Credit Reporting Act says that negative information can stay on your report for a minimum of seven years (I always thought that said MAXIMUM - but I was wrong). There are some exceptions to this:
* Delinquency information like late payments remain for seven years from the DATE OF DELINQUENCY.
* Charge-offs stay … (7 comments)
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Eleanor Thorne 919-649-5057 Cary Mortgage Loans
Cary,
NC
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Steve Thorne NC Mortgage Experts
Address: 111 Corning Road, Suite 230, Cary, NC, 27518
Office Phone: (919) 649-5058
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