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conventional financing: Credit Scores & Rapid Re-Score - 05/26/11 02:23 AM
FICO Scores & What is a Rapid Re-Score? 
May 23rd, 2011
Posted by margo christophils - AKA Seattle MargoRapid Re-Scores can be completed to eliminate incorrect information (public records, late status, etc.), update balances on revolving accounts, update or correct collection accounts, and remove a dispute status on an account.  With the appropriate documentation, one simple change could provide the opportunity for a loan when a loan did not appear possible.
Unlike credit repair, re-scores permanently change the borrower's information at the credit bureau level.
We took a moment to analyze what Rapid Re-Scores have revealed this past year - here are … (4 comments)

conventional financing: Short Sale & Closing Costs - 06/06/10 03:15 PM
Having done many short sales and alot of training, I am finding that only on certain types of loans will the lender pay closing costs. For example if the short sale is a FHA loan and the new buyer is using conventional financing then there will be no closing cost paid, but if new buyer is using FHA financing then they will allow only 1% to be paid for closing costs per HUD. Live near South Lake Stevens … (0 comments)

 
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Margo Christophilis

Seattle, WA

More about me…

SeattleMargo.com - Horizon Real Estate

Address: 7900 Green Lake Drive North Suite # 212, Short Sale in Seattle, Seattle, WA, 98103

Office Phone: (206) 963-5525

Cell Phone: (206) 963-5525

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Seattle home value, buy now before you are priced out. Inventory is being snapped up quickly - here is why! Want to Buy a House? It's Like 1995 all Over Again! Why is this such a great time to own a home? This is the perfect storm if you are currently renting, what makes the perfect storm for a renter – home values have declined to a price point that is close to 2003, and with the mortgage rates at serious historical lows the buying power you have to own a home is like you just purchased in 1995. Home values in the Green Lake – Seattle, WA area for a home that is of a normal 3 bedroom 1.5 bath home with roughly 1600 square feet in 1995 depending on the exact location you would have paid 165,000.00 – 205,000.00. In today’s market of Jan. 2012 you will spend around 285,000.00 – 435,000.00, again depending on exact locations. So if you are a renter – this is the perfect storm: 1.Home Values Down 2.Mortgage Rates at all-time lows 3.Housing Supply – lots to choose from 4.Buyer’s Market – so you now can shop around and sellers will negotiate terms, price and incentives. See Historical Chart for Mortgages for the Year 1995: 1995 30 Year FRM 15 Year FRM 1 Year ARM January 9.15 8.80 6.82 February 8.83 8.46 6.67 March 8.46 8.06 6.45 April 8.32 7.88 6.35 May 7.96 7.51 6.13 June 7.57 7.06 5.87 July 7.61 7.09 5.83 August 7.86 7.36 5.93 September 7.64 7.16 5.81 October 7.48 7.01 5.74 November 7.38 6.89 5.64 December 7.20 6.74 5.57 Based on the buying power of today’s interest rates you effectively are able to purchase your home as if it was 1995! Answer these questions! •·What was the popular song in Jan. 1995? •·Who won the Super Bowl on Jan. 29th 1995? •·What Bombshell Beauty Married on Feb. 18th to a motley Rocker? See how time goes fast and looking forward where will you be in 17 years? Here is a great artical from Paul Muolo who wrote a post about buying a home like it was 2003. •Mortgage Rates •Read more


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