Here's an important message that definitely bears repeating ... If you ever hope to enter the home buying market ... there is no better time than NOW to start the buying process! And whether you're hoping to buy within 6 months or 6 years down the road, the following statement is true. The first steps you take towards purchasing your home will be the same. Those steps will begin with credit. It's also true, that your processing and preparation for Closing Day will end with credit also. What does that mean? It means that ... Your Mortgage Professional … (14 comments)
Right now, you can't escape the headlines and deluge of information regarding mortgage interest rates. The rates themselves are big news ... let alone all the information and controversy swirling about the state of home buying, home buyers, home owners, home lenders, and home builders. The other day, I read an article online that related the opinion that the extremely low rates that we are currently experiencing are going to waste. The jist of the article was that because … (19 comments)
credit repair: NOW May Be the Time For Changes To Be Made to the Equation for Credit Scoring ...
- 07/11/10 09:13 AM
For many reasons, more and more often I am talking to those wishing to become home buyers that simply ... and I'll be kind ... have challenging credit histories to work with. Whether through problems of their own making, or as a result of the housing and financing crisis, many people simply do not have credit scores that even begin to allow them to think about purchasing a home anytime soon. And, if that is the case ... maybe, just maybe ... we need to start thinking about the long term ramifications of this situation for the individual ... … (20 comments)
credit repair: Credit Scores Down! Will Prospective Buyers Be Denied?
- 04/22/10 11:49 AM
I have been in contact and working with a prospective client for well over a year while he and his wife were tackling some credit issues. This couple took it upon themselves to gear-up their home search once again and have actually found a property they are interested in purchasing. After being in the works for so long a time, I obviously had to run an updated credit report to start the purchase process again. To my surprise ... because I had been assured that the correct measures were being taken to improve scores ... the new credit scores came in lower. A monthly mortgage payment … (18 comments)
credit repair: The Fallout of the Home Mortgage Crisis ... Divorce in America Is On the Rise
- 03/30/10 04:16 AM
The home mortgage crisis in the United States has spawned problems in the mortgage, real estate and banking industries, and many consumers are now facing mortgage payment increases in the coming months that could cause the number of home foreclosures to climb even higher. And all of those financial woes may be spawning another problem as well -- an increase in divorces, experts say. "A recent poll commissioned by divorce360.com ranked financial issues as the number two reason that Americans divorce, with abuse one of the main reasons for divorce in this country today." (The above is from an article by: Don Moore ... "Real Estate: Home Mortgage Crisis May Boost Divorces in … (14 comments)
credit repair: Home Buying ... Education! Education! Education!
- 01/18/10 07:52 AM
Buying a home during today's challenging market can be intimidating. Seeking the financing for that home ... frightening ... especially if it's the first time you've ever done so.
The media can be full of horror stories of confusion, distrust, and fraud. The perception is that evil lenders or real estate professionals lurk around every corner. Traps are everywhere. The truth is ... the real estate and financing industry is much like any other. There are good and bad within these professions. But, that being said, precautions do need to be taken to insure that you end up finding and … (2 comments)
I know many people are already into the thick of their Holiday shopping or making plans for gift giving and party hosting. Especially in this day and age, planning for the expenditures of the holiday season is extremely important.
It's also true that in the present challenging financial climate "execution" of your holiday plans can be even more important. It's easy to fall into the lure and "trap" of holiday spending! Figuring a budget for holiday spending and sticking to it isn't always easy, but maintaining a level head regarding expenditures protects your finances and credit ratings down the road. … (4 comments)
credit repair: First-Time Home Buying ... Fulfilling the American Dream in Today's Market
- 03/23/09 09:20 AM
The state of the nation's economy and current housing market is creating quite differing financial scenarios for some americans. While many are suffering hardships or battling through mortgage mayhem, the very same issues they are facing are causing quite the opposite effect for others and opening up avenues of opportunity. Most areas of our country have seen prices of homes and property drop or level-off. Although admittedly harder to obtain than in the past because of the financial credit crisis and more stringent guidelines, mortgages are available for those that have a reasonable amount of debt, have good credit scores, and are and have been employed for a set period … (0 comments)
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