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Is it Possible to Get a Mortgage with Bad Credit?

by Troy Cruz William Engle Dawn Khoury James Nissen Robert Hill Chris Laning Janet Taylor Jack Enders Bruce Gross Rick Bean Keith Wood Ray Johnson ... Barney Bernard Ailleann Alan How good is your credit? If you know your credit score and won’ ... . A good credit score is going to get you a better interest rate, but just because your credit is bad [more...]

Date: 2008-12-16 18:11:06

Blog posts (55) | Videos (92)
 


Your Credit Score is Costing you Money

by Rob Kosberg There is a mystery among us. It’s called a CREDIT SCORE and is something that many of us don’t understand and may not even know ... credit risk,” we need to repair our credit. It is possible that some of us are in for a surprise ... aware that that a “low” score will result in difficulty obtaining a mortgage, credit card, and car [more...]

Date: 2009-01-15 09:32:20


When You Are Eligible For A Free Credit Report

By Federal law, you are entitled to one free credit report per year directly from a credit-reporting agency only if you certify that: 1 ... to know, whether you need a new credit card, an auto loan, or a mortgage. Lenders use your credit scores ... to obtain the best rates. Bad credit costs thousands of dollars! About The Author Virginia Broobin [more...]

Date: 2008-12-27 07:59:27


What to do if you’ve been turned down for a loan

Turned Down For a Loan?  Improve Your Loan-Ability! This article was written by Becky House, Education Manager for American Financial Solutions. For more information about credit scores, budgeting or managing your debt, visit MyFinancialGoals.org or contact Becky at 1.800.894.3946. Two years ago, someone with a 600 (poor) credit score could qualify for a mortgage or car loan. Now, reputable lenders will not even consider lending to someone with a score below 700. [more...]

Date: 2009-09-26 14:37:00


Poor Credit Scores And House Loan Possibilities

When applying for a mortgage as part of your overall preparation for home ownership, your credit score is vital ... (FHA) home loan. In this article, we’ll cover both options. 1. Sub-prime lenders who offer “bad ... that loan is going to cost you in interest over the life of the loan. If your credit score is below [more...]

Date: 2009-01-11 17:39:12


9 Reasons for a good credit rating or FICO score

Does my credit rating really matter? That question goes through a lot of people's heads as they max out their credit card or don't pay their automobile payment Huntsville Alabama car loans financing with bad credit mortgage home loans, real estate auto insurance, web design. Huntsville schools festivals business events and community [more...]

Date: 2008-12-22 12:51:43


Improve Your Credit Score - Determine Your Creditworthiness

Sure, the economy may be flailing, but learning to preserve and maintain your creditworthiness and improve your credit score is still extremely important. If you’ve spent any time watching or reading the news, you’re aware that bad mortgages obtained with faulty credit lending practices and other flawed methods have sent the economy into a ... [more...]

Date: 2008-11-22 19:00:48


New Year, Better Credit Score: Post 3

stockxpertcom_id12723501_size0-743295.jpg So FICO has branded you with a not-so-desirable credit score and you have made the resolution to bring ... month.  Remember also, not all debt is bad.  Items like mortgages and car loans on your credit report ... and see if they will take the late payment off so it doesn’t show up on your credit report [more...]

Date: 2009-01-10 15:55:57


Why Even Good Credit Might Get Cut

(Photo: Dan Esparza) You can afford your mortgage, you have a high credit score and you pay your bills on time every month. So why did American Express just slash your credit limit? Could be because of where you shop? A combination of the credit crisis and the increasing use of predictive analytic models [more...]

Date: 2009-01-16 02:35:39


How To Choosethe Best Mortgage Companny

Finding the perfect mortgage broker may not be easy, but it is very important. This article discloses tips on how to select a mortgage broker ... banks, online banks, credit unions, savings and loan associations and specialty bokers. These types ... your personal credit history and credit score, the amount of the down payment, and much more. It is hard [more...]

Date: 2008-12-04 05:21:14


Liens

If you do not pay State or Federal taxes or pay a debt owed to a creditor, they can make a claim against your property ... from the mortgage and the lien! How does a lien affect my credit report and credit score? This type of security interest looks very bad on your credit report. Potential lenders see a lien on file [more...]

Date: 2009-01-04 00:30:06


Should You Walk Away From Your Home?

(source) Despite the struggle, most responsible homeowners don’t think twice about whether they should make the mortgage payment each month ... back from bad credit and don’t want to let your credit score sink again. Whether you choose to fight ... a shot at a loan modification, when you can just take the “Free Housing For Six Months Package” [more...]

Date: 2008-12-03 22:29:29


Friday’s Rates on Thursday

Huh?  Since tomorrow is Independence Day, the bond markets will be closed…so I thought I would provide you with mortgage rates on today ... with a minimum credit score of 720, “full doc” purchase with a sales price of $500,000 and a loan ... %.   Rates should be doing great with all this bad news, right?  Not so fast!  It seems as though Wall Street [more...]

Date: 2008-07-03 18:00:27


What Has Happened to Real Estate Prices?

by Mary Bush Back in the late 1990’s and in the early part of the 2000’s banks had tougher guidelines to purchase a property when using conventional financing. Banks would lend you money based on your debt to income ratio and your credit score ... in addition to your residential mortgage payment. In some cases, the banks would stretch the loan [more...]

Date: 2008-12-21 13:24:48


What Has Happened to Real Estate Prices?

by Mary Bush Back in the late 1990’s and in the early part of the 2000’s banks had tougher guidelines to purchase a property when using conventional financing. Banks would lend you money based on your debt to income ratio and your credit score ... in addition to your residential mortgage payment. In some cases, the banks would stretch the loan [more...]

Date: 2008-12-29 12:10:23


N.J. man learns modifying mortgage to cut payments may impair credit rating

by Moe Bedard on September 29, 2009 · 0 commentsin American Nightmare To confuse consumers even more, not all lenders follow the guidelines.That may change on November 1, when lenders can use a new code to report them as a “loan modification under government program.” The code will clarify which borrowers have taken modifications, but because the modification process itself is not streamlined, it won’t be the only worm squiggling out of the can.The bigger impact on credit scores may depend on how [more...]

Date: 2009-09-29 13:48:05


Before you put in an offer….Check out the Condo Assoc.

Today, Wells Fargo turned down a mortgage applicant with a very, very high credit score ... and he informed me that my agent’s client has: “A high credit score, but 151 Tremont Street has a problem” [more...]

Date: 2009-01-16 02:10:54


Get a Mortgage on a New Home in Florida with 2% down! By Geniusofdespair

.fullpost{display:inline;}An Eye on Miami Investigative Report: Lennar and Shoma New Homes can be purchased with less than 2% down! ... credit scores still getting you a mortgage, we noted that a recent call to Lennar had yielded news ... , you can advertise your homes as having downpayment assistance available.” Loan Guy said of the program [more...]

Date: 2008-10-31 20:39:00


What up Party People?

Firstly...Happy New Year to all.Secondly...I know what you're thinking...where are the baby bump pics?? ... of the kiddos, working, and embarking on a massive credit clean-up so that my FICO score will be mortgage ... anyway.My heartburn is awful, I only throw up occasionally now, and my sciatica is so bad I can barely [more...]

Date: 2009-01-02 20:33:00


What Is My Credit Score and How Is My FICO Calculated?

If you’re like most people out there, there’s inevitably going to come some point in your life when you’ll need to apply for credit and seek out ... prospects like mortgage loans either - even routine applications for things like credit cards, checking accounts, auto loans, and even new jobs are undergoing greater credit worthiness scrutiny. Both [more...]

Date: 2008-07-08 03:19:44


Talk About Timing! ... pt. 2

Friday, January 16, 2009Last night I tuned into the follow up webcast on Oprah.com w/ Suze Orman. I learned a bit. Okay, I learned a lot ... , Equifax, & Experian. Yes, three..When credit card companies, car and mortgage lenders sit down ... the balance on your credit cards. This improves your FICO score... Seems like a no brainer right [more...]

Date: 2009-01-16 19:11:00


Sanity Begins Creeping Into Mortgage Lending Market

The New York Times reports that New York's state mortgage financing program, SONYMA, ... of the credit markets.With credit drying up, many banks have begun demanding larger down payments and requiring higher credit scores for borrowers, said Shelia S. Martin, director of program operations [more...]

Date: 2008-10-02 21:30:00


It’s time to refinance ~ but is your home worth enough to get that great low rate?

Short sales, Bailouts, Mortgage Reductions…there are all kinds of programs being talked about, ... .  You have a credit score over 800?  Awesome…we’ll give you a loan for up to 100% of the value of your home ... .  But I have a question.  What about the homeowner who has never missed a payment, has a great credit score [more...]

Date: 2009-01-17 04:16:58


Keep Closing Costs Down

Keep Closing Costs Down January 14th, 2009 | Category: ... costs can vary dramatically for buyers who have identical credit scores, loan terms, and mortgage ... home security bmw diy amplifier wiring sewing aquarium solar flooring auto repair led speaker [more...]

Date: 2009-01-14 11:46:00


The loan money i$ out there…….

Qualifying for a mortgage is not nearly as easy these days as it was just a couple of years ago, before the subprime-loan-market collapse and the worldwide credit freeze. Still, mortgages ... and detail – good or bad – your borrowing record contains. A consumer whose credit score is a little [more...]

Date: 2009-01-15 17:02:23


Mortgage Rates Are Falling! Will It Be Enough To Save The Market?

As most people know by now, the government has seized control of Fannie Mae and Freddie Mac ... . Credit score requirements are higher and income qualifications tighter. The net effect ... payments; one could venture to say that credit scores across the population are not as good [more...]

Date: 2008-09-11 18:42:24


Mortgage Rates for Friday Afternoon

Mortgage rates are up about 0.125% from what I posted this morning and up a bit more than that compared to last Friday’s post as  you’ll see by the ... rate quote below is based on owner occupied with a mid-low credit score of 720-739, “full doc” ...  0.325% to rate FHA.  Pricing based on credit score of 620 or better and loan amounts [more...]

Date: 2009-01-16 21:28:17


Did God Really Grant Houses to the Poor? You Betcha!

Time magazine just put out an article about how a certain type of Pentecostal Evangelism likely put a large number of consumers more ... correlation. That’s what a scholar of the fast-growing brand of Pentecostal Christianity believes ... who got dicey mortgages to believe “God caused the bank to ignore my credit score and blessed [more...]

Date: 2008-10-06 06:39:32


Did Racism Help Cause the Mortgage Crisis? The Bubble Bursts

Carter Glass In 1997 the FDIC published an imaginary interview with Carter Glass that predicted what would occur with the repeal of the ... . Yet data from a 2002 Fannie Mae report dispels this notion. It found: Credit quality alone therefore ... of credit scores is one of the most widely-used sources. Authors Rick Brooks and Ruth Simon reported [more...]

Date: 2008-12-15 00:20:33


Will a short sale hurt my credit score?

When I meet with homeowners who are struggling with their mortgage are maybe behind on payments and have no equity in their home, ... or foreclosure on one’s credit report. I recently came across some great information provided by a mortgage ... my report and if it appears that their only option is to sell their house in a short sale, I always [more...]

Date: 2009-01-15 20:14:24


How to Up Your Odds of Getting a Mortgage

by Troy Cruz William Engle Dawn Khoury James Nissen Robert Hill Chris Laning Janet Taylor Jack Enders Bruce Gross Rick Bean Keith Wood Ray Johnson ... is. When you are doing your homework, make sure you get your credit score. This is going to tell you how good or how bad ... that is going to lend to you. If your credit score is good, you are going to find [more...]

Date: 2009-01-04 09:20:10


Did You See What God Just Did To Us, Man?

Evangelical Christianity’s prosperity gospel is indicted for ints contribution to our current economic troubles: ... who got dicey mortgages to believe “God caused the bank to ignore my credit score and blessed ... to Wachovia and get a loan,’ but I have heard, ‘Even if you have a poor credit rating, God can still [more...]

Date: 2008-10-13 12:22:42


Help a Reader: Money Trouble

Here's a question a reader recently left here: My job closed up I worked for 25 yrs. My new job, I took a $15,000 pay cut a year ... my mortgages on time and never late on card payments, credit score of 735 and a ratio of 95-100%. I’ ... . I'm a single dad, divorced for 7yrs, raising my two kids on my own. Stuck in bad mortgage where [more...]

Date: 2008-09-29 19:45:22


Curbed University: Buy v. Rent, Game On

Curbed University is our new NYC real estate how-to section ... for the downpayment and closing costs and the credit score to qualify for a mortgage, what sort of broker [more...]

Date: 2008-09-11 18:17:21


Topics In First Time Mortgages Explained

Topics In First Time Mortgages Explained Posted By Chris Channing on @ 11:30 pm by Chris Channing When it comes time to buy a house or vehicle, ... locations. Having a bad credit score often hinders many from even attempting to obtain a mortgage loan. This shouldn’t be a deciding factor, since many lenders these days expect most to have a less [more...]

Date: 2008-10-21 04:30:38


How to Repair Bad Credit – Find Out Just How Easy This Can Be

Lower credit scores are the result of minimum payments, late payments, too many cards and not enough income, and bad financial planning. Most people who have a credit card can not afford the lifestyle they live, and end up using most of their monthly income on credit cards…Last 5 posts by LendingTree Says Google's Getting Into Mortgage Quotes - September 11th, 2009U.S. [more...]

Date: 2009-09-12 06:00:56


Topics In First Time Mortgages Explained

Topics In First Time Mortgages Explained Posted By Chris Channing on @ 10: ... can be discounted as a tax write off where applicable. Having a bad credit score often hinders many from even attempting to obtain a mortgage loan. This shouldn’t be a deciding factor, since many [more...]

Date: 2008-10-21 03:44:39


Mortgage Refinance – How to get Approval to refinance mortgage?

Amazon.de Widgets Only a few years ago, you could find a mortgage refinance company ready to issue you a loan as long as you had a honest credit score and a first installment. With a touch of paperwork to fill out, speedy credit check and employment confirmation, the keys to your dream house were yours before you knew it. Well, those days have come to an end. [more...]

Date: 2009-07-17 12:09:28


The FHA and Impact on Real Estate Values

Today the FHA, the Federal Housing Administration, is a gigantic player in the residential mortgage business. The FHA guarantees mortgages against default, and allows purchases of homes with only a 3.5% down payment, and provides a rock bottom interest rate of near 5%. These lenient terms apply to virtually everyone, even those with poor credit scores and little equity in the home, which are highly correlated with default. [more...]

Date: 2009-09-19 16:13:23


Does It Pay to Re-Finance?

Does It Pay to Re-Finance? Refinancing your mortgage can be an excellent opportunity to save money and get better terms on your home loan ... of re-financing. These situations include when rates of interest drop, when the householders credit ... t be longer than the householder plans to retain the property. Credit Score Improvements [more...]

Date: 2009-01-08 14:49:52


2007 Vs 2009

“The 14 Biggest Differences Between Investing NOW & Investing Pre Dec 2007” ... shortfalling properties, low yields and bad credit scores 2) Pre 2007: People were talking about growth ... in this 14) Pre 2007: Mortgage rates would change slowly, incrementally & infrequently. Cred [more...]

Date: 2009-01-16 14:06:40


Are greedy wolves making government-insured mortgages?

Now that subprime is a dirty word and Wall Street firms are no longer making securities backed by loans to people with low credit scores, brokers and bankers are filling the void with a little help from Uncle Sam. They are making loans ... FHA, which is meant to expand credit to folks of modest means? John Courson, president of industry [more...]

Date: 2009-01-15 11:00:45


How To Stop Foreclosure And The Wall Street Bailout

How To Stop Foreclosure And The Wall Street Bailout Posted By Alfred Sant on @ 8: ... that was signed back in July in which each loan will have to be underwritten by an FHA lender on a case ... histories and credit scores. This is going to be as if you are applying for a new Mortgage Loan [more...]

Date: 2008-10-07 13:26:48


Mortgage Rates Rising with Inflation

Rates are continuing their climb up upwards.  Helping to fuel this rise in rates, ... rate quote below is based on owner occupied with a minimum credit score of 720, “full doc” purchase ... to trade the safety of bonds (such as mortgage backed securities) for stocks.   Great for stocks = bad [more...]

Date: 2008-06-13 20:59:03


Good News For Buyers Is Always Bad News For Sellers

The Desplains Times reports from Illinois. “Last month Dan decided to stop paying his mortgage. It was hard for him ... be able to afford anything.’” “To finance the purchase he obtained two mortgages, one for 80 percent ... keep dropping,’ he said. ‘They go down by about $5,000 every month.’” “Dan’s credit score [more...]

Date: 2008-06-12 14:48:03


What will the NEW Mortgage Market Look Like?

My apologies for the lack of posts everyone, it’s been a little hectic here ... : 1) Underwriting Guidelines: A complete revamp of the entire credit policy. In a nutshell, a complete revisit ... will most likely have to present a minimum 740/760 credit score as well as a nearly perfect financial [more...]

Date: 2008-10-27 20:03:03


Refinance home mortgage

Home mortgage is very common these days. The moment I am writing, Obama has taken a lead over McCain in the president election ... your loan amount. Hence you will loose any possible chance to get the refinance. You should really have good credit score. No lender or bank will give you loan if they find out that you don’ [more...]

Date: 2008-11-05 10:58:55


Just Tricks…No Treats for Friday’s Rates

Mortgage rates continue to trend upwards like mummies crawling out of their graves.  (Sorry…bad reach. Booooo).  October has been terrible for rates! ... FHA.  Pricing based on credit score of 620 or better and loan amounts up to $362,790 for FHA in King ... all ready be factoring bad news into their brew. Conforming Mortgage Rates (loan amounts up to [more...]

Date: 2008-10-31 19:48:17


After the Chaos - What Types of Mortgages Remain

by Emily Winkle The mortgage market and subsequently the entire US economy had a major meltdown in 2008 ... the financial crisis that destroyed the mortgage market, 100% financing loan programs were availalable ... . (non-citizens could only get 90% financing!). With credit scores in the high 500’s, you could [more...]

Date: 2008-12-03 08:40:34


Mortgage Rates following a Dismal Jobs Report

This mornings Jobs Report was ugly. 240,000 non-farm jobs lost in October (higher than the expected 200,000) and unemployment at 6.5% ... with a sales price of $500,000 and a loan amount of $400,000. Rates are priced based on a low-mid credit score ... . Equally bad are the revisions to August and September's figures reflecting additional losses [more...]

Date: 2008-11-07 16:48:53



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