Mortgage Interest Rate Drop Possible with Treasury Intervention

Treasury Secretary Henry Paulson is considering a new plan to reduce mortgage rates in another bid to revive the U.S ... for the lower rates. There are already a number of additions to rates due to credit score, loan ... is enormous. We saw the results of the investment of $600 Billion into the MBS market last week [more...]

Date: 2008-12-04 07:30:46

Blog posts (137) | Videos (240)
 

We’re Never Going To Go Back To The Heyday

The News Journal reports from Delaware. “For Delaware in particular, key industries are sensitive to national economic conditions ... a certain credit score. Deborah combined the No-Document Loan with another loan and was able to buy [more...]

Date: 2008-10-24 15:48:52

Barriers and Problems Refinancing a Home Mortgage in 2009

My quest to refinance my home mortgage continues. Rates are around 5.00% with no points for a 30 year fixed, last I checked ... based on LVT ratio, credit score, and loan type. For instance, take someone with a 95% LVT, good ... Fannie Mae and Freddie Mac underwriting guidelines must have an LTV ratio of 80% or less. Higher LTV [more...]

Date: 2009-01-14 11:00:51

Tips For Buying New Car

Most people can not plop down the cash to buy a new car outright. That means most of us finance new vehicles ... the finance guys at a dealer claim they have an “official” report that grossly undercuts your credit score ... online, or getting a loan from your bank. That last option is worth a serious look. Most dealers [more...]

Date: 2009-01-05 05:02:50

Mortgage Mania 19 - The Jumbo Strikes Back

Amid all the celebration and hullabaloo associated with the recent drop in conforming interest rates as a result of the Treasury Department taking ... be willing to buy those that are considered low risk (excellent credit score, low loan-to-value ratio [more...]

Date: 2008-09-09 19:08:17

GMAC limits loans to buyers with 700+ FICO rating

Filed under: Car Buying, GMIf you're in the market for a new car, you'd better get your credit score in order first ... to consumers with a credit score of over 700. That number is up from the 71% average ... . Auto lending units are looking for top tier customers right now, and GM's captive credit arm [more...]

Date: 2008-10-14 12:52:03

Firm Cries Foul on Credit Reporting, Mortgage Loans

Nearly one in two borrowers is plagued by medical collection accounts that are lowering their credit scores and limiting their ability to get a ... mortgage, said mortgage and credit expert Rodney Anderson, of Rodney Anderson Lending Services, in a press release Monday. When the Federal Reserve announced its plan to invest up to $600 billion in ... [more...]

Date: 2008-12-08 16:04:24

Try getting a loan

by Misha Weidman: I’ve been talking to lenders over the last few weeks to get a sense of the credit crunch from their side of the desk ... have a stash of cash ready to go for your down payment and your credit score better be impeccable – or you’ll ... . Several were loan officers at big retail banks like Bank of America and Wells Fargo. Others were [more...]

Date: 2008-12-20 16:35:30

Declaring Bankruptcy

by Elma Evvie Deciding whether or not to declare bankruptcy can be one of the most difficult decisions ... : When you apply for a loan or even get a job if your credit score is bad then that can influence them to deny ... ; then it is going to leave a bad mark on your credit report for seven years. If you are struggling and barely [more...]

Date: 2008-12-30 12:44:30

Stopping Foreclosure Through Lender Mediation

by Tomasheus Privetsky You’ve had more than your share of difficulties in the last few months ... A Workout Of Your Loan If you have missed a few payments, your credit score will drop dramatically; once this data is on your credit report, it will be difficult if not impossible to get a new loan [more...]

Date: 2008-12-19 22:27:21

Check Credit.

In my opinion, owning credit cards are advantageous in these difficult economic times..but ONLY if you are a responsible and disciplined user ... or loan makers, there’s this site that can help you know your score. This credit report is based ... transaction that involves credit activities. At checkcredit.pro, you’d be able to request instant [more...]

Date: 2008-11-06 10:11:14

Racing the Clock on DPA Programs: Will The Dems Save the Day?

I had some fun, yesterday, with a report about the down payment assistance ban and the First-Time Homebuyer Tax Credit ... credit score of 620. Compliance to the underwriting guidelines then, could make DPA programs, or 100 ... that the Tax Credit might be collateral for a “tax refund loan”, thereby, facilitating the need [more...]

Date: 2008-08-28 04:26:04

Housing: Who Got Rich? Who’s to Blame?

Cross-posted by Maggie at Maggie’s Notebook Who do we blame for today’s housing crisis, subprime loans and the Fannie Mae and Freddie Mac debacle? ... credit programs for immigrants…. With these advances in technology, lenders have taken advantage of credit-scoring models and other techniques for efficiently extending credit to a broader spectrum [more...]

Date: 2008-09-17 19:51:39

FHA Update: The “It Girl” of Mortgage

This morning I’ve been trying to update articles I’ve written on FHA in an attempt to have the information be accurate during this day and age of ...  credit scores.   Home Buyers can still obtain a gift or loan from family members as long as it meets underwriting guidelines. Rental income credit when buying a new home and renting the existing [more...]

Date: 2008-10-18 17:09:29

Find Your Perfect Auto Loan Deal Online

by John Brennan Recently the credit market has tightened its neuse and causing a major concern with all potential new car buyers ... use a unique credit report only available to the auto industry called the “Fico Auto Industry Option ... , Experian, and Transunion. One good tip of advice is to research your credit report and credit score [more...]

Date: 2008-12-09 12:05:04

Volt Still Kicking as Feds Take $5B GMAC Stake

With a new $6 billion bailout from the Treasury approved late yesterday, General Motors has lowered its requirements for auto loans ... loans to customers with a credit rating of 621 or above, down from yesterday’s minimum score of 700 ... use progress on the Volt as leverage in negotiations for federal aid. So, bailout? Check. Cash [more...]

Date: 2008-12-30 21:00:12

Real Estate: Buying your first home.

Wondering about buying your first home? Are you ready to move up or down-size??? Have you heard they aren’t making loans any more? ... ???.. In simple terms Lenders want: Stable work history; Two years Employment in the same field is considered ... . Good credit; your credit score needs to be 620 or higher, in most but not all cases. FHA [more...]

Date: 2008-09-23 16:00:42

Tightening Consumer Credit Standards

According to a Federal Reserve survey of senior loan officers at major banks, ... % of banks report that they’ve been actively lowering credit limits, with just under 40% saying that credit ... 52% of banks reported that they’ve increased the credit score required to secure a line of credit [more...]

Date: 2008-12-29 15:00:51

5 Reasons Why You May Be Turned Down For Finance

Factors contributing to someone's credit score... Image via Wikipedia Being turned down for a credit card or a loan can come as a bit of a shock, especially as banks and credit cards have been slated recently for irresponsible lending and really [more...]

Date: 2008-11-27 08:33:25

Borrowing Beyond your Limit can Result in Consumer Debt

Consumer debt has risen to worrying percentages in the past few years ... of the loan, how much the borrower is able to pay back per month, their current credit score ... debt can be acquired in various forms, including through a credit card or a payday loan. There are many [more...]

Date: 2009-01-17 00:24:29

Houses, Credit Reports, Lenders….ACK!

Wondering about buying your first home? Are you ready to move up or down-size? Have you heard they aren’t making loans any more? ... terms Lenders want: *Stable work history; Two years Employment in the same field is considered ... your needs. *Good credit; your credit score needs to be 620 or higher, in most but not all cases. FHA [more...]

Date: 2008-11-08 12:00:06

Loan For Bill Consolidation - An Attractive Alternative?

Many people in the US today are deep in debts that they are not in a position to repay ... over them Correct your dropping credit scores. Boost your credit ratings Leaves you without any debt ... . Many people to own several credit cards and bad debtors, usually would have bad repayment record [more...]

Date: 2009-01-16 17:50:56

second residential mortgage

If you are still confused about what a second residential mortgage loan is and how you can use it to your advantage, you are literally losing money ... mortgage, check your personal credit report to ensure that your credit score has improved. Lenders ... loans.The other type is a “home equity line of credit” or HELOC. The main difference between the two [more...]

Date: 2009-01-14 10:43:37

How to Save by Refinancing your auto loan

Even when you are maintaining good credit standing and paying all of your bills on time, changes in the financial markets as well as improvement in your credit score can lead to potential ... . Most everything you do better in your credit relationships will result in a positive credit report [more...]

Date: 2009-01-02 16:39:52

Can homebuyers still get liar loans?

Randy Johnson, president of Independence Mortgage Co ... and they have to like your credit scores, but agree with them ahead of time that you are not going ... professional, graduate degree, self employed for over 25 years. My credit score is over 800. I currently [more...]

Date: 2009-01-16 11:00:49

Good Time To Ask About Refinancing Your Mortgage: I Might Save $50,000!

With the rate drop yesterday, mortgage rates are at amazing lows. People in the office are bragging about locking in 4 ... . (Especially if you have a good credit score and a loan-to-value ratio below 90%.) My favorite source [more...]

Date: 2008-12-18 11:53:02

Home loans

by Tom Martens For the vast majority of us, homeownership means a monthly mortgage installment ... this rate, your credit history and credit score are major factors in whether your bank considers ... the best option for you. Administration fees payable every month differs with each loan, so check [more...]

Date: 2009-01-16 14:53:39

car loans

car loans Filed under: Autos, Finance, Loans Finding A Car Loans Online If you are interested in getting a car these days you have probably ... problem is where to begin. Firstly you should have some idea of your credit score. There are many ... . I personally use creditexpert.com It allowed me for a small mothly fee to view my credit score [more...]

Date: 2009-01-16 17:21:05

Refi Problems

While mortgage rates may be a historic lows the screening that lenders are doing are stricter than ever ... rates, you'll need a FICO credit score of 720 or higher, says Cameron Findlay, chief economist ... it's not worth the trouble. ...If you have a home equity loan or line of credit, you'll probably need [more...]

Date: 2009-01-16 13:13:00

How To Get The Right Credit Score

Imagine that you are going into a lender’s office prepared to apply for and receive a loan ... credit bureaus: Equifax. Experian, and TransUnion. You are shocked when your loan is denied, or maybe ... , 2TransUnion uses the Empirica system, and 3Experian uses the Experian/Fair Isaac system. Despite each credit [more...]

Date: 2009-01-07 21:19:35

Mortgage Rates

Mortgage rates are slightly improved from last Friday’s rates by about 0 ... %)   0.125% to rate FHA.  Pricing based on credit score of 620 or better and loan amounts ... entice you to buy? Conforming Mortgage Rates (loan amounts up to $417,000 for 1-unit properties [more...]

Date: 2008-12-19 18:21:45

Pitfalls of Bad Credit Credit Cards

Having lousy FICO scores, as we all know, affects our ability to pull out loans ... you for what you’ve done, they’ll report you to credit rating ... . As for the lending companies that do accept our request to borrow money, the rates [more...]

Date: 2008-12-27 14:35:46

Self-Employed Still Getting Denied Home Loans, Despite Easing Market

Entrepreneurs_Home_Mortgage_Woes Entrepreneurs are used to dealing with problems people with steady paychecks often don’t have to worry about ... t get a $500,000 loan for a home in San Francisco, despite having a stellar credit score of 800 ... . Here’s yet another one: getting a home loan. The mortgage-lending crisis that’s frozen so many [more...]

Date: 2008-12-02 14:00:28

What's going on with GMAC's car loan standards?

Filed under: TransportationFlush with capital from taxpayers, GMAC is lowering its underwriting standards. The credit crunch and a shortage of cash had pushed the company's minimum FICO score for car ... required credit score below 670 would have allowed 65% of Americans to get a GMAC loan [more...]

Date: 2009-01-02 23:00:00

DELINQUENCIES RISE WHILE NEW FORECLOSURES DIP

In one of today’s government reports at least two positive stats can be Foreclosure starts dipped 2.6% in the third quarter vs. the second quarter ... income) to subprime (low credit score) through subprime. The chart shows the proportion of loans 60 days ... foreclosures in the period. Unfortunately, other than those facts the report was fairly bleak [more...]

Date: 2009-01-11 03:10:55

Chrysler to Offer 0% Financing After New Bailout

The government loaned Chrysler Financial $1 ... to a wider range of credit scores, which means it will be that much easier for people without sterling scores of 700 to buy cars. A score of 620 will be sufficient to get you into a vehicle. Chrysler [more...]

Date: 2009-01-16 21:38:39

HOUSING PUSH FOR HISPANICS SPAWNS WAVE OF FORECLOSURES

For years, immigrants to the U.S. have viewed buying a home as the ultimate benchmark of success ... loans, which carry high interest rates and are tailored to borrowers with low credit scores or few ... multiple cash jobs, but had no savings or established credit history to allow them to qualify [more...]

Date: 2009-01-06 13:19:54

Debt And Bill Consolidation

Debt and bill consolidation is the practice of paying off many loans with one loan ... the chances of missing a payment, which could adversely affect one’s credit score. Sometimes, debtors ... . There can be sizeable gains from reduced interest rates, since credit card interest rates are substantially higher [more...]

Date: 2009-01-16 13:16:08

California Debt Consolidation

California Debt Consolidation January 16th, 2009 Debtors are the ones who face tough times ... in California through their debt consolidation loan help you to improve your credit score. They abide [more...]

Date: 2009-01-16 04:11:25

Bad Credit Don’t Have To Worry

As someone who always concern to the public issues today, I do feel sorry about crisis global nowadays ... bad is your bad credit score today ? Do you think that you can die because you can’t pay your bills ... than perfect credit could found a way to find a loan online. Don’t be worry anymore, and I can’ [more...]

Date: 2009-01-12 04:48:51

$7,500 1st Time Buyer “Credit” is a LOAN

I’ve been seeing quite a few agents and lenders using the $7,500 1st Time Buyer “Credit” in their promotional materials aimed at first time buyers ... , if there is sufficient capital gain from the sale…if the tax credit is claimed on the 2008 tax return, a $500 ... closing costs Just How Much Your Credit Score Impac [more...]

Date: 2008-10-08 03:39:29

Start Loans For A Clean Future

Thousands of Americans buy their daily trip to the debt ... was in a precarious situation regarding the credit debt and low credit ratings would not be able ... credit histories, so a good credit score is not necessary [more...]

Date: 2009-01-05 00:43:48

Easy to Find Loans

The financing of anything is really difficult and now you might have to spend more time looking for a loan to purchase a luxury item or to consolidate your loans. The number of applications you fill out will affect your credit score ... and it is online. I was looking to replace my old rust bucket and I could not find a Car Loan [more...]

Date: 2009-01-15 02:22:51

How To Buy A House

There has been a lot written about the mechanics of how to buy a house ... changes are reflected in your credit score, you may be able to apply again and get a mortgage loan ... . But what if you can’t get preapproved? What if you have little income, bad credit or other serious problems [more...]

Date: 2009-01-13 02:01:00

Do I need another credit report?

The following post in our Reader Question series is an actual user submitted question ... about him. A: We recommend checking your credit report and score at least once per quarter ... of the information in your credit report can literally save you hundreds or even thousands of dollars on a loan [more...]

Date: 2009-01-12 19:10:54

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

Affordable New Vehicle Financing with Chrysler Financial

Chrysler customers with a wide range of credit scores are immediately eligible for affordable financing  Company rolls out national zero percent APR offer on select vehicles  Partnership with credit unions and independent lenders continues ... . Now our customers, including those with scores in the 620 range, will be able to apply for affordable loans [more...]

Date: 2009-01-16 19:39:42

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! ... and FHA jumbo loans.    We’ll end next week with the goulish Jobs Report.  Most traders should ... credit score of 720-739, “full doc” purchase with a sales price of $500,000 and a loan amount [more...]

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

Listen to this awesome news!!!

I don't know if you remember, but a sweet but desperate reader wrote in saying that her student loans went into default and she wanted to know how to ... into collections! How do I get it off my credit score?My heart immediately sank, but I wrote back a short post ... and it is now officially OFF my credit report..thank God! It turns out that they mailed [more...]

Date: 2009-01-03 18:08:00

Charlottesville Real Estate–Mortgage Options

Charlottesville Real Estate–Mortgage Options Posted by Fulton Gaylord under For Buyers, Regional News, Charlottesville Mike Platt, ... and currently it requires a 620 credit score for this option. Many areas of the country are in “declining ... my Senior Loan Specialist with MetroCities, recently sent me the following information pertinent [more...]

Date: 2009-01-10 13:46:31

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