bremerton: How To Afford A Mortgage -- Part 4 - 07/13/06 09:21 AM
ü Credit Scores and Sub-Prime Loans Prior to the early 1990's homebuyers had to have a very good credit history to qualify for aloan. Those who had foreclosures, repossessions, or bankruptcies in their history were toldto wait 7 years and to walk the straight and narrow credit path in the meantime. … (0 comments)
bremerton: How To Afford A Mortgage - Part 3 - 07/12/06 06:54 AM
ü Finding a Bargain Home One of the clichés of the real estate world is the most important thing to consider when buying a home is "location, location, location." That also applies when trying to find a bargain in a home. Generally it is better to buy a "fixer-upper" in a … (1 comments)
bremerton: How To Afford A Mortgage - Part 2 - 07/12/06 06:49 AM
ü How to Maximize Your Income Most lenders will require that you disclose your income from the previous two years and use this income to qualify you for a mortgage. They will ask for W-2 forms, tax returns, or bank statements to verify the income. The lender will then apply a … (0 comments)
bremerton: How To Afford A Mortgage - Part 1 - 07/11/06 07:31 AM
ü Minimum Cash Requirement The main deterrent in buying a home today is not income or credit requirements but rather finding the necessary funds to cover the initial costs and down payment. Traditionally a 20% down payment is required and in many instances the related closing costs and escrow funds can … (0 comments)
bremerton: SIX THINGS YOUR CREDIT CARD COMPANY HOPES YOU NEVER FIND OUT - 07/11/06 07:22 AM
#1 The average consumer has 4 credit cards, with an average balance per card of $3900 (that’s $15,600 in debt in case you haven’t done the math!) Sure, there’s safety in numbers, but is this the company in which you want to belong. I don’t know about you, but I’d much … (1 comments)
bremerton: DEVELOPING CREDIT FOR FIRST-TIME HOMEBUYERS - 07/10/06 04:52 PM
Establishing New Credit Banks and Credit Unions – If you have a checking or savings account, you are already a customer! Try here first.Department Stores – Another great option but start small and build a good payment history. Finance Companies – An option if you have had credit problems in the … (3 comments)
bremerton: DISPUTING DEROGATORY CREDIT - 07/10/06 03:06 PM
Derogatory credit can appear on your borrowers file for a number of reasons. Each scenario is possible, but there are different ways to approach each one. o The consumer may have a common name and have a mixed file with someone else. o They may have had joint accounts with an ex-spouse … (0 comments)
bremerton: Divorce and Credit - 07/07/06 04:26 PM
How We Can Help Far too often as Realtors and Loan Officers we are confronted with the issue of divorce with a new or previous client. I know that I used to cringe when I heard that one of my clients was in the middle of a divorce. I certainly don’t … (0 comments)
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ü Credit Scores and Sub-Prime Loans Prior to the early 1990's homebuyers had to have a very good credit history to qualify for aloan. Those who had foreclosures, repossessions, or bankruptcies in their history were toldto wait 7 years and to walk the straight and narrow credit path in the meantime. … (0 comments)
