credit: You Are Not Immune, No Matter What Your Credit Score Is - 05/08/08 08:49 AM
Four times annually, the Federal Reserve surveys 84 different banks about general banking conditions.
One of the survey questions asks about current mortgage lending standards and whether they are loosening or tightening.
The chart at right is from the April 2008 survey and it illustrates what we already know: It's getting tougher and tougher … (0 comments)

credit: Co Signing for a Mortgage, The Possible Implications - 04/22/08 01:13 PM
As mortgage lenders limit how much money they will lend and to whom, co-signing home loans is growing in popularity. "Co-signing" a home loan is when a third-party -- usually a parent or relative -- promises to make repayments to the bank in the event that the borrower falls behind on his … (0 comments)

credit: Credit Scoring Tips For A Better Mortgage Rate - 04/17/08 10:16 AM
Credit scoring is becoming more important to mortgage pricing so now would be a terrific time to brush up on your credit education. If you understand how the system works, after all, you can make it work to your advantage. One terrific place to start your research is at myFICO.com.
Published by … (0 comments)

credit: Mortgage Lenders Get "Once Bitten, Twice Shy" And Impose New Restrictions - 04/11/08 01:07 PM
Getting approved for a conforming home loan is now tougher than before. 
Again.
As home loan defaults mount, government-sponsored financier Fannie Mae has imposed new guidelines on what it will lend and to whom, highlighting the need for a strong credit profile and a downpayment.
In other words, Fannie Mae is outright declining … (0 comments)

credit: Credit Cruch defined - 04/08/08 11:00 AM
News sources like to use the term "credit crunch" in describing the U.S. economy, but they rarely define what a credit crunch is and what it means for Americans. 
A credit crunch is when the amount of available loans suddenly decreases over a very short period of time.
Usually, it follows a period … (0 comments)

 
Mortgage Company: John Topa, Mortgage Advisor, First Sunrise Mortgage
John Topa, Northeast PA Mortgage Advisor
Scranton, PA
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John Topa, Mortgage Advisor, First Sunrise Mortgage

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