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Blog entries tagged with "credit":
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Disclaimer: ActiveRain Corp. does not necessarily endorse the real estate agents, loan officers
and brokers listed on this site. These real estate profiles, blogs and
blog entries are provided here as a courtesy to
our visitors to help them make an informed decision when buying or selling a house. ActiveRain
Corp. takes no responsibility for the content in these profiles, that are written by the members
of this community.
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On this, the sixth day of my series, I believe that it is time for a more serious issue. And it can severely affect your ability to purchase a home, a boat, a car, and everything else. Todays safety tip is...stop buying so much stuff! At least if all you are … (2 comments)
Well butter my butt and call me a biscuit - I'm feeling more cooked every day. Maybe it's just me - maybe my friends have been right all along. Maybe I really am a moron - certainly in a financial sense if not many others.
Theoretically interest rates were lowered to stimuate the economy. IMHO, the wrong "number" is being lowered. It used to be pretty much anyone with a 600+ FICO could get a loan. Now I can understand that people with FICOs way below 600 having difficulty getting a loan and they definitely shouldn't … (1 comments)
Will this home meet my financing program standards? Will the bank give me an extra $10,000 to fix this up? As a real estate broker, it is super to get a buyer to the bank or in touch with a mortgage broker that has checked the purchaser out inside and … (1 comments)
I have found a GREAT resource for credit related info. If you are credit challenged, I would definitely recommend this website:
Real estate and lending go hand in hand. Rates are "higher" so borrowers afford less. Tighter guidelines limit lending options. Limited lending options shrinks the pool of available buyers. Smaller pool of available buyers raises the inventory on listed homes. Higher inventory reduces demand (see supply and demand). 
Why is Good Credit Important?The difference between a 700 FICO score and 698 is one-half percentage point. Meaning, on a $165,000 30-year fixed rate mortgage, that half point could cost you more than $19,000 in interest charges, assuming 6 percent is the lowest rate available.
There are several very important truths about your credit score:
Question: At application, there were items on my credit that were not paid off that I had already paid off. What do I do?Answer: Document, Document, Document! If you have items that appear on your credit report in which there is a balance still remaining yet you have paid it off, … (0 comments)
Now all the talk is around an old technique called "credit piggy backing" which has been around for years. I first used this technique some 20 years ago when my father applied me to his gas cards and then department store cards. Now we have those in the financial industries that … (0 comments)
Like millions of homeowners, have you gotton in over your head ? Dreading the thought of your mortgage skyrocketing.... you and millions of people are caught in the middle. There is a way out, a way to save your home, a way to save your credit, to save your good name … (0 comments)
As I read the posts around here and listen to the news, it appears that there is a field of opinion among professionals that is diametrically opposed to each other. One one hand there are those that believe that we have hit bottom in the real estate market and that things … (11 comments)
I have attached the latest news from NAR---looks far more positive than other 2008 reports: … (0 comments)
Credit Companies (phone numbers)
It occurs to me that every high school I have ever seen has an economics class. However, I have don't hear about very many schools that teach the importance of credit to it's students. It seems as if that would be a very easy subject to incorporate into a classroom. It … (0 comments)
The Department of Housing and Urban Development and the Federal Housing Administration (FHA) announce new sales incentives on HUD Home sales in Michigan.
I was reminded of an email I received recently after reading Gail Gladstone's recent post "YOUR SKIN WILL TURN PURPLE" about email chain letters, phishing and the numerous other forms of junk and cheats we are exposed to daily.
You may not know it, but you could be perpetrating a violent crime ... against your credit. You may be a credit killer if you behave in ways that harm a valuable asset: your FICO credit score, a powerful three-digit number traditionally used by lenders to decide how much risk they're … (2 comments)
It's so great to surround yourself with individuals who are helping to sharpen the saw. A good friend of mine emailed me a couple of weeks ago and sent me a link inviting me to listen in to her own personal radio show. As I prepared to listen to it … (6 comments)
Obtaining Your Credit Report.
You may be right!
Down-payment options Buying a home doesn't necessarily mean having to make a large down payment. Most mortgage companies offer a loan programs that can help you buy a home using little or no cash. 
Your credit report contains information about where you live, how you pay your bills, and whether you've been sued, arrested, or filed for bankruptcy. Consumer reporting companies sell the information in your report to creditors, insurers, employers, and other businesses that use it to evaluate your applications for credit, insurance, employment, … (0 comments)
Scoring your Credit - How's your FICO?
If you are looking to buy a home in the near future here are some great tips to keep in mind. The current market is a buyers market. There are great deals out there if you are a buyer.The first thing you should focus on is getting pre-qualified. Before you begin … (0 comments)
WHAT'S IN YOUR WALLET THIS HOLIDAY SEASON?
Does Danger Lie Ahead? 
As the mortgage market got more aggressive on their lending and started to give out more 100% programs to people with less than perfect credit, the idea was right! Allow everyone the opportunity for homeownership!
Repost of my first blog due to faulty URL...sorry all! 
November 28, 2007
In a strange but true "Back to the Future" paradox, the 1985 film of the same name starring Michael J. Fox and Christopher Lloyd occurred prior to the April 1999 IRS legal memorandum allowing taxpayers to segregate various building costs into shorter depreciable lives other than the standard 27.5 years … (0 comments)
Foreclosures 
What's money?
If you are thinking of buying a home in the near future, get yourself in a good buying position. The first step in getting ready is to get your credit in good shape. Your credit makes a huge impact on how much a lender will approve you for on your home … (2 comments)
Under the Energy Policy Act of 2005 (EPACT), homeowners who make energy-related improvements in 2006 and 2007 may qualify for tax credits. Products include: Exterior windows and skylightsExterior doorsCertain roofing materialsStorm windowsStorm doorsCertain water heating equipmentInsulationMain air circulating fansCentral air conditionersGas, oil or propane furnaces and hot water boilersAir-source and geothermal … (2 comments)
Hey, first time home buyer, this post is for you. You know who you are. You are either renting or living with the fam. You have a job and see all of these houses on the market. As prices continue to fall you are peaking over the fence wondering if you could … (0 comments)
I got a call yesterday from a prospective buyer, a first time home buyer who had just found his dream house. It was a referral and this was the first time I had talked with him.
Sellers Need To Be Committed To Selling Their House In A Short Sale
Will "freezing" your credit report keep scammers from stealing your name?
You can spend $110 a year to by LifeLock's ID security or you can do what they do for free. LifeLock puts a fraud alert on your credit reports and renews them every 90 days. LifeLock also "opts out" of preapproved credit offers from the credit agencies. The last thing is … (1 comments)
Sometimes, a portion of the rent payed by the tenant during the time of the option can be credited back to the buyer to help cover closing costs. Make sure that your mortgage lender is knowledgable about how to structure this, and the amounts that are allowed.
Safeguarding Your Mortgage Application Takes Commonsense
If you think you are going to have emergency money with your credit cards after a foreclosure, you may have a big suprise. Your creditors are checking your credit all the time. If you default on one debt, they have the right to jack your interest rates accross the board. This … (0 comments)
Hello and welcome. A little about myself............
Are you a teacher, police officer, firefighter, health care worker, or member of the United States Armed Forces who could use a little extra help buying a home? If your answer is yes, I may have the perfect program for you. With this program you may need little or no contribution … (0 comments)
Are you on the verge of going in to default and have no equity in your home? What if there was a way you could sell your home and walk away with a check at closing, and get a check every month?
8 steps to managing debt
With loosing some of our first time home buyer loans, causing fewer people to get qualified, I have been getting more and more calls asking about lease to own and option to purchase.
"Mawage, that bwessed awangement, that dweam wifin a dweam," said the Impressive Clergyman in The Princess Bride . Clearly, he was operating in a world where substantially less than 50% of mawages ended in divorce, however, that is the reality that we face today, and it does not appear to be something … (2 comments)
Since last August, the residential real estate market has been devastated by the collapse of the "subprime" mortgage loan industry. Subprime mortgage loans are those made to borrowers with poor or no credit histories & which contain terms that were temporarily favorable, i.e. low initial teaser rates, interest only payments, etc.. … (0 comments)
The Mt. Diablo Housing Opportunity Center (http://www.mtdhoc.org/) is offering a FREE housing resource fair on Saturday, November 10th from 10am to 3pm. Official representatives from local cities will be on hand to provide information about housing programs in Concord, Walnut Creek, Pleasant Hill and Martinez. You'll be able to also find … (0 comments)
Good Credit Habits Mean More to Lendersby Frank SchiefelbeinInterest rates are reasonable these days, and homeownership has become more affordable thanks to a strong economy. Whether your clients are homeowners moving up into larger residences, or first-time home buyers, their credit history is a key component in the success of their … (0 comments)
Let's get real here.
When I applied for my first credit card, I was stunned by the outcome. I was given a monthly limit of more than double my monthly income. The only instruction I was given is to look for my new credit card in the mail and activate it when I receive it. … (0 comments)
Don't get discouraged by changes in the "market" - be it financing or home sales. Change isn't a bad thing, it just means that we have to buckle down, work harder for the buyer and expand thinking to get things done. I guess the key is to get educated NOT discouraged! Spread the word - interest rates … (0 comments)
Something prompted me to totally change direction in what I was going to post tonight. I'm not going to give any long intro's or pull any punches. These are my thoughts on some things that need changed or that should remain as is, heck call me the new sheriff in town. … (86 comments)
Your credit file and score (a numeric ranking from 300-850) are used to make decisions about loans and interest rates available to you. In many cases, the higher your credit score, the lower your interest rate may be. The lender will obtain a copy of your credit report which will document … (0 comments)