A 680 to 700 credit score will cost your buyers money now adays!!!

By
Mortgage and Lending with Charter One Bank

Six months ago this would be considered a strong buyer .   I firmly believe lenders ( the money providers for us brokers )  feel the same but they are charging for these types of good scores,  All  because of Fannie and Freddie. who have gone to  making adjustments for these type of credit scores...they have to make up for there losses right ?( bull ) they offered the initial products that put the economy into this situation!  ( sure there were some unsaleable loans to FNMA and FreddieMac that we sent to B paper lenders ) but believe me, they got pretty loose ended in their times....

Well obviously it is time to clean up the mess and at least Fannie has come up with a " lets help people who we currently are servicing , refinance program...I forget the name...Freddie just started one but you have to go to the same lender that is servicing your loan...Fannie's program says that we don't care what lender , as long as we service it.

I have been sending business to a lets call it "credit repair" company that has proven to me that they raise credit scores....A few months ago , I thought this was a good out source for my 580 credit score  past clients etc....Now that I take a closer look, it could save my 680 score clients thousands to get up to 720 which this company has done....if you agree with me and would like more info call me , I will give you info on the company....No, I do not get compensated for it  ( that would be illegal obviously ) ...hey all of you have a Great Holiday Weekend....I think we are all seeing the market improving....best of luck.....Tony Felbab  630-788-6184  

 

 

 

 

 

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