| |
credit scores: Credit Bumps that Delay Closings - 02/24/12 09:15 AM
As I wrote in my comment to Ginny Gorman (Phillips Post Road Realty, North Kingstown Homes for Sale - North Kingstown RI), I cannot praise the message contained in her post below strongly enough! I say Amen!
And Ginny is so right. Even after having multiple discussions with multiple real estate professionals (agent AND mortgage lender) ... some buyers will still go out and buy, buy, buy ... or have credit inquiries run for future purchases.
It needs to be known and stressed ... sometimes even the smallest change in credit can have a huge impact on credit scores, so … (5 comments)
|
credit scores: The New Year is Upon Us. Make '2012' the Year of YOU! - 12/23/11 05:05 PM
The New Year is Upon Us. Make '2012' the Year of YOU!
The headline reads ...
Average 30-year mortgage rate a record 3.91 pct. Average rate on 30-year fixed mortgage falls to record 3.91 pct., 15-year flat at 3.21 pct. And yes ... this means if you're one of those that have earned good credit scores, you could receive this record low interest rate for your mortgage. Remarkable, isn't it?? And to just prove how very remarkable it is ... I tell you, I've been in the mortgage business for 35 years … (36 comments)
|
credit scores: Don't Trip-Up Your Home Buying Plans This Holiday Season ... Spend and Give Wisely! - 12/14/11 01:10 PM
Don't Trip-Up Your Home Buying Plans This Holiday Season ... Spend and Give Wisely! "Tis the Season ... The above words typically refer to the "Holidays" ... joy, love, laughter, family, giving, sharing ... all the meaningful and good things in life. But they also can mean ... Tis the Season of huge sales. Tis the Season to buy loved-one and friends' gifts. Tis the Season of massive appliance and car sales. Tis the Season to charge items. Tis also the Season that you will hear … (13 comments)
|
credit scores: The Relationship Between Your Credit Scores and Your Mortgage ... More Than "Kissin' Cousins" - 12/03/11 09:52 AM
The Relationship Between Your Credit Scores and Your Mortgage ... More Than "Kissin' Cousins" Recently I was reviewing a credit report with a prospective homebuyer. After going over a few different pieces of information together, we began to talk about differing mortgage programs available to him for his home purchase. It's fair to say, that this young man's credit scores were ... well, shall I say, "challenged"? They were close to getting his foot TO the door of a new home, but not quite THROUGH that door. He had some work to do. … (11 comments)
|
credit scores: You Go to the Gym. You Workout Daily. But How is Your FINANCIAL Fitness?? - 10/10/11 06:48 PM
During the process of mortgage pre-qualification, many questions get asked. Among those questions are those pertaining to the applicant's credit and credit scores. This isn't surprising at all, given the enormous importance credit plays in mortgage lending.
What is surprising to me though, is NOT the number of those applicants that don't know their credit scores. Nope. It's the sheer number of those people that think they DO ... and then are totally wrong. It turns out they truly have no clue just how "financially fit" they are.
Now I'm not talking people … (28 comments)
|
credit scores: Divorce 101 for your Finances, Credit, and Outstanding Mortgage ... - 08/28/11 09:53 AM
Divorce can be devastating. With U.S. divorce rates hovering right around 49%, it's obvious that divorce and its far-reaching consequences touch many lives.
Add the present housing crisis into the upheaval experienced during divorce and you find many Americans presently experiencing a great need for accurate financial and legal guidance. While going through a divorce is probably the worst time to expect anyone to make sound financial decisions. Yet, that is exactly when the demand for these decisions are being made.
Certain precautions and actions should be taken during and immediately after divorce proceedings to protect yourself ... … (31 comments)
|
credit scores: Decided NOT To Buy a Home Right Now? What Steps You Should Take Next - 02/14/11 02:35 PM
Okay ... you've made the big decision. You're not buying a house ... now.
After taking all things into consideration, you've decided that buying a home is just not in the cards or right for you at this time.
Now what?
My answer is the same for you, as it is for someone that has come to the opposite conclusion regarding buying.
Contact a professional lender!
Why? Because if you ever hope to buy a home in the future, you should not procrastinate or waste time that could be … (5 comments)
|
credit scores: "Let the Sellers BEWARE" ... and Be AWARE. Playing Defense & Offense While Selling a Home - 10/11/10 10:02 PM
"Let the Sellers Beware" ... and Be AWARE!
Playing Defense & Offense While Selling a Home ...
Huh? Beware? Thought that was the Buyer!
Not these days! Agents, buyers, and sellers must know how to play DEFENSE and OFFENSE throughout a property transaction. This "one-of-a-kind market" delivers much more for each of them to consider than ever before.
Prior to the present challenging market, sellers asked their agents, "What will I net in proceeds at the closing of my sale"? Now, more often the question is, "If I sell my home for less than I presently owe on my mortgage, what … (39 comments)
|
credit scores: Having THAT Talk With Your Child. It's Time and It's Important. - 09/08/10 01:33 PM
For more information on the Credit Card Act follow this link: http://en.wikipedia.org/wiki/Credit_CARD_Act_of_2009
To contact Gene Mundt regarding a Credit 101 talk with your classrooms or organization, please go to: http://genemundt.com/Contact-Me.html
… (22 comments)
|
credit scores: A ROYAL Announcement ... CREDIT is King! - 08/24/10 05:26 PM
Here's an important message that definitely bears repeating ...
If you ever hope to enter the home buying market ... there is no better time than NOW to start the buying process!
And whether you're hoping to buy within 6 months or 6 years down the road, the following statement is true. The first steps you take towards purchasing your home will be the same. Those steps will begin with credit. It's also true, that your processing and preparation for Closing Day will end with credit also.
What does that mean?
It means that ... Your Mortgage Professional … (14 comments)
|
credit scores: Real Relief ... New Stiff Restrictions Coming For Debt Relief Companies - 07/30/10 02:27 PM
When asked by a customer about debt relief counseling or services, I always take the time to thoroughly examine and determine exactly what the nature of the person's debt is ... and how severe. Many lenders will do the same, and proceed in assisting those customers that they feel equipped to counsel and assist at no cost to the customer.
I do this to help straighten out debt and benefit credit scores for present customers, and those considering buying in the future or refinancing present loans. I consider it just another way I can benefit my customers and also see it as extension … (31 comments)
|
credit scores: FICO SCORES ... How They're Arrived At ... How They're Affected by Short-Sales, Foreclosures, & Bankruptcies - 05/06/10 12:46 PM
It is pretty much understood, that if in foreclosure or going through a short-sale, credit scores are going to take a hit. What has not been clearly understood ... is just how much of a hit is felt? Until recently, there had not been much of a barometer or "method" known for calculating or determining how these delinquencies would affect a FICO score. Fair Isaac has recently revealed a little bit of information as to how they calculate that.
Explaining the five components that make up a FICO/Credit Score might prove helpful here. If they are known, the results of foreclosure, short-sale, and bankrurptcy will be better understood.
First … (78 comments)
|
credit scores: Home Buying ... Education! Education! Education! - 01/18/10 03:52 PM
Buying a home during today's challenging market can be intimidating. Seeking the financing for that home ... frightening ... especially if it's the first time you've ever done so.
The media can be full of horror stories of confusion, distrust, and fraud. The perception is that evil lenders or real estate professionals lurk around every corner. Traps are everywhere.
The truth is ... the real estate and financing industry is much like any other. There are good and bad within these professions. But, that being said, precautions do need to be taken to insure that you end up finding and … (2 comments)
|
credit scores: STOP THE PRESSES! "NO DOWNS" & "LOW DOWNS" FOUND ALIVE! - 05/28/09 08:12 PM
… (1 comments)
|
credit scores: Conventional Loans Versus FHA - The Pendulum Swings - 04/10/09 06:11 PM
Historically, there has always been a rise and fall in popularity of particular lending programs. An example of this can be proven with the Adjustable Rate Mortgages (ARMs) that were so popular just a short time ago and are so terribly unpopular now. Merely whispering their existence makes heads spin, something akin to Linda Blair in the Exorcist.
Now it is true that in many many cases, these ARM programs were promoted and utilized in lending situations that were definitely wrong or ill-advised. Some of the current mortgage predicament can be directly linked to their flagrantly inappropriate usage, but the unpopularity that currently surrounds them doesn't alter or disprove the fact that … (16 comments)
|
|
|
|
|
|
Gene Mundt Mortgage Lender Chicagoland Mortgage Lending
Joliet,
IL
More about me…
815.277.4036 www.genemundt.com
Address: Attention: Gene Mundt, Mortgage Lender, 1823 Centre Point Circle, Naperville, IL, 60563
Office Phone: (815) 277-4036
Cell Phone: (708) 921-6331
Email Me
 Listings
Links
Archives
|
;)
;)
;)
