mortgage: Ted Knows Loans in Arizona - 05/12/20 06:04 PM

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mortgage: FHA Postpones "Collection Payoff" Requirement in Arizona and California - 04/09/12 10:30 AM
As if it is not getting harder to qualify for a loan, FHA put the scare in everyone for the last couple of months stating that FHA homeowners in Arizona and California would have to either:

Pay off all their collections if it amound over $1,000 or; Have a payment arrangement with the collection company for a minimum payment history of 3 payments/ months. The great news is that FHA came out today and stated that they were going to postpone the FHA requirement to "pay off your collection accounts" until they hear more public and industry comments before enforcing … (1 comments)

mortgage: USDA: Running Out Of Funds? UPDATE as of 06/01/10 - USDA NOW HAS FUNDS - 03/31/10 05:17 PM
USDA Running Out of Funds   As of 06/10/2010 - USDA now has funds available.  For more info go to : USDA Has Funds
It is well known that USDA is running out of money in May 2010.  However, one should consider the consequences to the depletion.  USDA has informed us that they are now leaning on $24 million dollars. When considering how much the program has gained in popularity, this amount will not go very far, if at all last until May. 
There is some cause for concern, however knowledge is king and it is not the problem rather the solution we … (5 comments)

mortgage: Credit Cards are Causing Damage to Your Credit Score - 11/12/09 04:59 AM
Credit Cards are Causing Damage to Your Credit Score
A new survey from the Federal Reserve shows that, despite how consumers are being hurt in the current economy, banks continue to raise the interest rates and lower credit limits with most credit cards.  Not good for those who are already struggling,, since studies consistently show that the single source that causes more people problems with their credit reports are their credit cards.  Specifically, the person uses his Visa or MasterCard to get out of a financial crunch, but when that crunch does not abate, he finds himself unable to make the … (0 comments)

mortgage: Fannie Mae Is Now My Landlord? - 11/07/09 05:39 AM
Update (BORROWERS' INSTRUCTIONS):   https://www.efanniemae.com/sf/servicing/d4l/pdf/d4lborrowerinstructions.pdf

Fannie Mae Is Now My Landlord?
Well when you think they have thought of everything, Fannie is now in the Landlord business!!  I am not sure how I feel about this and whether or not it will realistically make a difference in the process of filtering the problems out of the market.  However, it does help the struggling homeowners from becoming

homeless which is a good thing (Just in case, if you haven't heard, homeslessness is on the rise and it partly does have a relationship to the foreclosure problem). 
So what does this all mean?  … (46 comments)

mortgage: How to Find a Reputable Mortgage Lender - 09/30/09 07:34 AM
How to Find a Reputable Mortgage Lender
If you are thinking about buying a home, you will want to work with a trustworthy lending institution that will give you the best possible deal. If you apply for bids on the Internet, you will be deluged by offers from all kinds of lenders, some reputable and others not so reputable.
That is why it is important to find a bank, credit union, or loan company you can depend on. There are many ways to do this, but the main point is you don't want to rush into making a decision in choosing … (2 comments)

mortgage: RAISE YOUR CREDIT SCORE 100 POINTS IN FORTY-FIVE DAYS - 09/29/09 05:56 AM
RAISE YOUR CREDIT SCORE 100 POINTS IN FORTY-FIVE DAYS WHAT MAKES UP A CREDIT SCORE?
Payment History 35% Balances Carried 30% Credit History 15% Mix Of Accounts 10% Inquiries 10% PAYMENT HISTORY - 35%
Bills Paid As Agreed Most Recent 6 Months Highest Weight On Highest Pay History Mortgage Biggest Payment BALANCES CARRIED - 30%
Keep Balances As Low As Possible Outstanding Balance Versus Available Credit Affects Credit ScoreFor example:Credit Card Balance Available CreditVisa $10,000 $10,000Visa $0 $10,000 Leave Credit Card Balance As Is = Lower Credit Score Spread Balance Between Cards ($5,000 each) = Higher Credit Score Mortgage / Installment … (3 comments)

mortgage: About to Expire!! First-Time Homebuyer Tax Credit - 06/30/09 09:43 AM
Most consumers are unaware that while renting may seem like a economical way to manage their money, they are actually losing out not only on historically low rates, prices and tax deductions but they are missing out on the US Government's 1st Time Home Buyer Tax Incentive. If you are paying rent within the range of $700-1,900 (depending on the state) per month, this is your time to purchase a home while taking advantage of the $8,000 Tax Credit that is immediately paid to you after you purchase a home. In fact, you are able to claim the credit this year … (0 comments)