Ar_home_b_search
 



credit: Credit Repair. Should You Pay For It? - 04/17/07 02:54 PM
I received a call from a new lead today who needs some help with his credit. Actually , scratch that, he just needs credit. He hasn't opened a single new tradeline since he got divorced 7 years ago and the only things on his report are some old, paid collections and some old, paid judgments. So, he has no scores. He can't go FHA due to a late on a child support payment in the last 12 months (also paid and current now).
His first question is "Can you refer me to a credit repair agency?". Seriously? No, but I can tell … (16 comments)

credit: Really tough spot - any advice welcome - 04/14/07 10:45 AM
So, I have some friends in Northern Virginia that bought their new construction condo in September 2005. They paid $373K (full appraised value) and got a 2 year, interest-only ARM (I did NOT do their original loan...I was new in the business and they got a "better deal" with the builder's lender). Well, as those of you up in NOVA no doubt know, the condo market up there sucks right now.
My friends need to refinance to get out of their ARM, which will start to adjust later this year. Of course, they haven't done great things w/ their credit since … (5 comments)

credit: Rock, Meet Hard Place - 04/13/07 11:15 PM
I really hate going up against other, unscrupulous lenders who will quote someone a ridiculous rate just to keep them on the phone. It is so frustrating to be on the other end of this conversation:
Borrower: My score is a 600 and another lender told me they could give me a 5.75% rate.
Me: That is certainly possible, depending on your credit history and the current value of your home.
Borrower: The other lender told me that was my rate, period.
Me: Mr. Borrower, with a 600 credit score and no idea of the details of your credit history or the value of your … (4 comments)

credit: Cash-Out Refi, Sub-550 Scores, Self-Employed. Not happening, right? Wrong. - 04/13/07 10:52 PM
I feel really good about something I worked on this week. Really, really good.
A woman called my office last week after getting my number from a past client that she works with. This woman was nearly desperate to refinance because she and her husband were beginning to get behind on their credit card payments. They had recently signed up with a debt-settlement service that said they would be able to help them settle with their creditors for less than the balances due. Unfortunately, the woman and her husband didn't really understand at the time that, not only did they have to be … (2 comments)

 

Ian Fregin

Virginia Beach, VA

More about me…

UCM

Office Phone: (877) 490-7764 x 308

Email Me



Links

Archives

RSS 2.0 Feed for this blog