The topic of credit is an important one when it comes time to prepare and apply for a mortgage. Questions surrounding every facet of credit arise during my initial conversations with prospective borrowers.
The following is just a small sample of the credit topics, info, details, and questions that I often cover with mortgage hopefuls:
The best ways to establish credit, if no credit scores or history has been established The best ways to build additional credit, credit history, credit scores (how scores affect interest rates/underwriting/loan approval, etc), if minimal credit has … (5 comments)
No one knowingly buys a home envisioning that financial hardships lie ahead ...
Yet hardships and challenges come even when planning and preparations have been made.
Those are the circumstances that many American homeowners now find themselves in. The COVID-19 virus has delivered them to their home's door. If you are one of those Americans that have been negatively impacted financially, either via loss of employment/work hours, income loss, other financial stresses, or health considerations due to COVID-19 ... you are definitely looking for a dose of good news. And thankfully, there is some to share.
A large percentage of U.S. homeowners … (33 comments)
credit advice guidance: If YOU are a Renter, but Don't Want to Be ...
- 06/24/15 08:32 AM
If YOU are a Renter, but Don't Want to Be ... Day after day, messages via social media and news media constantly show-up regarding the Rent VS Buy debate ... An article I ran across in Forbes today is a prime example. It offered some rather startling facts regarding the current cost of renting (6/2015). The headline read ... "A Record Number of Americans are Spending More than 30% of Their Income on Rent". Here are 2 statistics from that article that caught my eye: 1. One in five renting households making $45,000-$75,000 a year are spending more than 30% of their income on rent. and ... … (11 comments)
credit advice guidance: Divorce 101 for your Finances, Credit, and Outstanding Mortgage ...
- 08/28/11 02:53 AM
Divorce can be devastating. With U.S. divorce rates hovering right around 49%, it's obvious that divorce and its far-reaching consequences touch many lives. Add the present housing crisis into the upheaval experienced during divorce and you find many Americans presently experiencing a great need for accurate financial and legal guidance. While going through a divorce is probably the worst time to expect anyone to make sound financial decisions. Yet, that is exactly when the demand for these decisions are being made. Certain precautions and actions should be taken during and immediately after divorce proceedings to protect yourself ... … (31 comments)
credit advice guidance: Feeling Financial and Credit Stress? Return to Good Health Following These Suggestions ...
- 08/07/11 10:55 AM
Statistics told us, that prior to Christmas of last year, Americans were doing a pretty good job of decreasing their debt, especially on credit cards, plus they were in a savings mode too. But according to statistics recently released by the Federal Reserve, revolving debt (mostly credit cards) is up 5.1%. It is the biggest increase seen in this type of debt in over 3 years. That isn't completely bad news, as it signals a loosening of credit to some extent, a return to spending to some degree, and a return to marketing by retailers/businesses. More are actively … (39 comments)
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