Bail Me Out

Today's linkIt's Not a Weekend It's a LifestyleSaying for the DayAlways borrow money from a pessimist, he doesn't expect to be paid back ... on the mortgage without fail. He let other things slide. He ruined his credit rating. But he protected ... credit rating. The fact that he has never missed a payment on the mortgage doesn’t count. He can’ [more...]

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

Blog posts (106) | Videos (107)
 

Obtain Helpful Recommendations About Orlando Realtor

Part I Step 1: Spiff up your credit Good credit can lower your mortgage interest rates, potentially saving you hundreds of dollar a month ... . Order a credit report (usually free online). You can dispute any mistakes, but the most important thing is to build up good credit from here out. Lenders want clients who can pay bills on ... [more...]

Date: 2008-12-31 00:00:10

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

2007 Vs 2009

“The 14 Biggest Differences Between Investing NOW & Investing Pre Dec 2007” ... in this 14) Pre 2007: Mortgage rates would change slowly, incrementally & infrequently. Credit ratings ... lenders are not passing on rates & finding excuses not to lend. Credit MUST be solid And [more...]

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

Mortgage Interest Rates Hit New Lows

Mortgage interest rates are sitting at about the lowest they have ever been. The averaged 30-year fixed rate loan is hovering at about 4.97% and the average 15-year loan is sitting at just 4.25% as of the week of September 25 th , 2009. These banner rates will be available to consumers with good credit scores, have significant home equity, and know how to shop around for the best deal. If you meet this criterion, it’s an absolutely great time to refinance your loan. [more...]

Date: 2009-09-30 17:45:59

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

Arizona Mortgage Rates October 17, 2008

Arizona Mortgage Rates for October 17, 2008 Mortgage Related News This week we ran into more than one person who was interested in what lenders ... include: Must be a second home 400,000 max loan amount 75% Loan-to-Value International credit report ... are able to provide loans for Canadian Nationals. After some local discussion between [more...]

Date: 2008-10-17 16:18:20

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

The Importance of GOOD Credit

by Rob Kosberg We all should know that good credit is a “must have ... to get a loan, a mortgage, credit card depends on a good credit rating. Our “Credit Score” is most ... FREE Guide on Maintaining and Repairing your Credit [more...]

Date: 2009-01-03 12:23:01

Mortgage Rates — More Changes Coming Soon!

Mortgage rates have improved but continue to be volatile.  Today’s rates are actually up about 0.125% from yesterday ... properties).  The conforming rate quote below is based on owner occupied with a mid-low credit score ... ?  Those with 40% down (home equity), 740 plus credit scores with taxes and insurance included [more...]

Date: 2009-01-09 21:22:08

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

Mortgage Rates January 9, 2009

Mortgage rates are off to an outstanding start for 2009 ... of your credit report.  You are allowed 1 free copy every 12 months, and the inquiry will not be reflected ... credit dispute letter” and find hundreds of free or sample dispute letters to send out. The next [more...]

Date: 2009-01-09 15:17:37

A-Z real estate vocabulary for home buyers and sellers

Nothing is more fundamental to buying or selling your home than understanding the language that realtors, lenders and others in the industry use ... , origination fee, hazard and mortgage insurance, credit report and appraisal fee. Debt-to-Income ... inspection. Annual Percentage Rate (APR) - The cost of credit expressed as a yearly rate. Bridge Loan [more...]

Date: 2008-12-02 21:05:42

New regulation and the GAO

rdan GAO has a report on regulation deficiencies of financial markets: ... participants—such as nonbank mortgage lenders, hedge funds, and credit rating agencies—some of which ... difficulty understanding new and increasingly complex retail mortgage and credit products. • Fourth [more...]

Date: 2009-01-15 10:00:01

Home loan

by Tom Martens Before starting the homeownership or monthly mortgage installment ; ... to the prime rate set by the Fed. When determining this rate, your credit history and credit score are major ... online home loan calculators on financial or property websites to start working out what your payment [more...]

Date: 2009-01-16 14:42:11

Mortgage Rates Hitt All-Time 38 Year Lows, Read On...

Just another quick update as I track several sources for mortgage news and rates, this time, notating that mortgage interest rates have hit all-time lows -- that's the lowest in 38 years ... market in January of 2009?  Credit, money, it's not flowing particularly from the banks, since they seem [more...]

Date: 2009-01-17 02:54:20

Washington Post Death Spiral Watch (Joe Stephens Edition)

Outsourced to Nate of FiveThirtyEight.com: FiveThirtyEight ... of the borrower. According to current rate quotes from myFICO.com, a borrower with very good credit can expect a mortgage rate about 30 basis points better than someone with pretty good credit, and a borrower [more...]

Date: 2008-07-06 19:46:28

Information trickle down

UPDATE: 7:45PM NZDT:ODT reporting:ANZ and National Bank have announced they are dropping their fixed-term mortgage rates ahead of the next Official ... fall in line with what the RBNZ does on 29 January.-- UPDATE ENDS RNZ reporting that the S&P credit rating downgrade has affected our dollar. I have always said that credit rating agencies will trigger [more...]

Date: 2009-01-13 22:43:00

Last Mortgage Rate Update of 2008

Mortgage rates are essentially unchanged from what I posted here last week ... properties).  The conforming rate quote below is based on owner occupied with a mid-low credit score ... Fixed @ 1 Pt: 5.250% (APR 5.329%)  FHA.  Pricing based on credit score of 620 or better and loan [more...]

Date: 2008-12-26 19:22:20

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

Latest News in Refinancing Home Mortgages - Dec 04, 2008

Mortgage applications up 112.1% last week, due to drop in rates: ... economy and troubled credit markets. Mortgage applications were up 112 percent during the week ... one proposal, Treasury would seek to lower the rate on a 30-year … Mortgage Lenders Report Rise In Number [more...]

Date: 2008-12-04 14:07:14

Mortgage Rates Dip to Low 5’s

criteria that I use for pricing Friday’s rates.  Do check with your local Mortgage Professional to see what rate you qualify for.  What’s caused this big dip?  You can thank the Fed for stepping in to buy $600 billion ... the company was in violation of financial debt covenants of its note-purchase agreement and credit agreement [more...]

Date: 2008-11-25 16:14:43

Maintaining Excellent Credit Rating

Being approved for credit is a sign that someone is willing to take a risk on you with their money ... of all, get your free annual credit report from the credit bureau. Check for mistakes or false ... bills - food, utilities, rent, or mortgage. Before you go out shopping for credit lines, make sure [more...]

Date: 2009-01-15 03:41:35

FICO Fitness Fundamentals

A FICO score is the number that determines the interest rate you pay on credit cards, car loans and mortgages ... credit bureaus: Equifax, Experian and TransUnion. The FICO score is linked to just about every ... in your favor) Don’t apply for any new credit cards Review your credit report periodically to make [more...]

Date: 2008-11-25 16:08:53

William O’Donnell and others at financial giant UBS issued a report earlier in the week noting some reluctance by investors to buy government bonds ... the credit crunch, investors have demanded a greater premium on securities backed by mortgages, which means consumer rates are less tied to Treasuries than before. I asked O’Donnell if mortgage rates [more...]

Date: 2009-01-08 17:39:53

Friday’s Mortgage Interest Rate Update

The comparison of rates is based on when I last posted on (I skipped a week while our family was vacationing at Lake Roosevelt) ... is based on owner occupied with a minimum credit score of 720, “full doc” purchase with a sales ... %) improved 0.25% to rate.  :) FHA.  Pricing based on credit score of 620 or better and loan [more...]

Date: 2008-08-29 21:09:42

Four. One Million Use Credit Cards for Mortgage or Rent

4.1 Million Use Credit Cards for Mortgage or Rent According to housing and homelessness charity Shelter, about 85% of the UK’s £1 ... Breaking point’ report revealed that ‘4.1 million households (16%) used credit cards to help meet ... , is that they normally come with a lower APR (Annual Percentage Rate) than unsecured debts [more...]

Date: 2009-01-08 08:18:32

Mortgage Rates Fall to Record Lows

Rates are at their lowest level in decades, but mortgages remain elusive for most homeowners and hopeful buyers January 15, 2009, ... that the government would buy up to $500 billion of mortgage-backed securities backed by Fannie Mae, Freddie Mac ... as homeowners with good credit and equity in their homes—an unusual combination these days—rush to lock [more...]

Date: 2009-01-16 13:41:00

Does The Most Common Refinance Problem Have A Solution?

What is the problem? It’s the shrinking value of your little bungalow ... . They have a 6.25% mortgage rate. They still have good credit, the same employment, and want to lower ... on your mortgage payment is a good thing. Check with us or a trusted loan officer to determine [more...]

Date: 2009-01-06 15:57:19

Widespread Mortgage Refinance (Good Credit Doesn’t Pay)

Mine won’t be one of the three million mortgages expected to get a new deal via The Bailout ... , to have the right numbers on our credit report. AND a month later when every headline ... , and took the best mortgage deal we could get. Who Wouldn’t Take an Adjustable Rate Mortgage? Because [more...]

Date: 2008-10-30 13:35:53

Dem Lawmaker Hits Credit Rating Firms With Collective Liability, Sparking Industry Protest

(ChattahBox)— Congressional lawmakers yesterday, focused on the much needed overhaul of the credit rating agencies, which played a major role in the collapse of the overrated subprime mortgage securities that caused the economic crisis last fall. Rep. Paul Kanjorski (D-PA) proposed a bill to address the accountability problems of the ratings agencies, by imposing collective liability for any improper ratings issued by competitor agencies. [more...]

Date: 2009-10-01 15:46:15

Economists React: Foreclosures Drives Home Resales

Economists and others weigh in on the larger-than-expected increase in existing-home sales amid another price decline ... , given the seizing up of credit markets and the recent increase in the 30 year fixed mortgage rate ... and, therefore, are unlikely to reflect the credit turmoil in September. Second, sales are coming at much [more...]

Date: 2008-10-24 16:11:18

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 ... .   We also had the Jobs Report released today which reported a loss of 62,000 jobs [more...]

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

Rates for Friday Afternoon

Mortgage rates are much improved since what I posted last week.  Wednesday and Thursday were rough on the markets as traders braced (and rightly so) for a stinky Jobs Report.  Bad news typically (but not always these days) equals lower rates ... quote below is based on owner occupied with a mid-low credit score of 720-739, “full doc” purchase [more...]

Date: 2008-11-07 21:38:07

Los Angeles Mortgage Rates Report: January 14, 2009

The US Treasury Department has been supporting the mortgage bonds market, in order to keep mortgage rates under 5% ... , their funding line gets filled up.  Imagine a funding line (sometimes called a warehouse line of credit) like a big credit card,  Normally, a big bank needs, say $100 Billion for its line.  The unexpected [more...]

Date: 2009-01-14 06:35:15

Mortgage Rates for Friday Afternoon

This morning’s Jobs Report was even worse than expected with 533, ... s report.   Mortgage rates are much improved over the last rate post (pre-Thanksgiving) and slightly ... ).  The conforming rate quote below is based on owner occupied with a mid-low credit score of 720-739, “full [more...]

Date: 2008-12-05 21:22:25

Another Bailout Plan: Directly Bailout Homeowners

—Ace Actually, if you accept "bailout logic" at all, this makes the most sense and should have been done from the beginning ( ... credit and a mortgage can refinance at a new lower rate. Treasury Secretary Henry Paulson ... time, “it's not going to be an instant panacea for what ails the economy,” he said. While lowering [more...]

Date: 2008-12-06 06:32:52

FHA Streamlined Refinance - Lower your Rate and Payments Without Credit Qualifying or a New Appraisal

With rates near an all time low, refinancing has become a big thing again ... refinance: No credit qualifying. This is not credit score based and it is not even necessary to pull a full credit report. Your mortgage does need to be up to date, and current and we will look [more...]

Date: 2008-12-30 16:30:24

Moody’s Techniques Deeply Flawed – Analyst Blog

Moody’s allegedly hastened the credit crisis earlier in the decade by assigning top ratings to mortgage-backed securities that deteriorated later. Moreover, it is being probed by regulators worldwide, with several ongoing reviews in Europe for rating a European debt product, constant proportion debt obligations (CPDOs), at a higher-than-merited AAA.   According to the Wall Street Journal , Eric Kolchinsky a former analyst with Moody's Corp. [more...]

Date: 2009-09-28 14:34:15

The Warning Signs Were There

Everyone knew that this was a possibility, but everyone - Democrats and Republicans - went along with the idea, ... those banks to extend home mortgages to individuals whose credit is generally not good enough ... more loans to so-called subprime borrowers. These borrowers whose incomes, credit ratings and savings [more...]

Date: 2008-09-26 12:45:00

How Do I Get a Subprime Mortgage?

“How do I get a subprime mortgage?” is going to be a question that we start to hear a lot more in the next few months ... borrowers as their credit rating has dropped and they have very little, if any, money in their savings ... though mortgage rates continue to drop, it is not helping the housing market. So, how [more...]

Date: 2009-01-17 04:00:18

Save Thousands By Negotiating Your Loan Rate With Your Mortgage Lender

My wife and I have recently applied and been pre-approved for our first mortgage.  We are moving to a new state this winter ... , application fee, and credit report costs, but these costs are separately listed in most closing cost ... and actually flourished during the current credit crisis and subprime mortgage mess.  We were offered [more...]

Date: 2008-11-20 13:45:27

Mortgage Rates for Friday Afternoon

Compared to the past few weeks, this week seemed a little more calm with regards to mortgage interests rates.  30 year fixed hung around 5.875 - 6 ... is based on owner occupied with a mid-low credit score of 720-739, “full doc” purchase with a sales ... of the year, check in with your mortgage professional.  Some lenders are beginning to either pull [more...]

Date: 2008-11-14 22:14:30

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

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

Friday’s Rates

Mortgage rates continue to be very volatile.  They are improved from last week’s rate report yet higher than the low point (mid 5’s for 30 year) ... properties).  The conforming rate quote below is based on owner occupied with a mid-low credit score ... .  Pricing based on credit score of 620 or better [more...]

Date: 2008-09-12 21:26:07

Fed’s Bubble Trouble Will Cause Rates to Spike and Spawn Hyperinflation

A few weeks ago, when the U.S. Federal Reserve announced a strategy designed to bring down long-term interest and home mortgage rates through ... of U.S. Treasury bonds rise while their underlying credit quality is deteriorating faster than Bernie Madoff’ ... . Just as the U.S. government issues mountains of new debt to finance the multi-trillion annual de [more...]

Date: 2009-01-14 14:30:03

Bill Would Make Ratings Agencies Share Liability

A key House lawmaker wants to make credit rating agencies — which have been widely criticized for failing to give investors adequate warning of the risks in subprime mortgage securities that triggered the financial crisis — responsible for each other’s assessments by holding them collectively liable for inaccuracies.The Associated Press reported that a new draft bill by the lawmaker, Representative Paul Kanjorski, a Pennsylvania Democrat, includes a plan meant to address what critics contend is [more...]

Date: 2009-10-01 09:07:48

It is soooo coold.. brr. Post Roundup

YEAH! Its melting Creative Commons License photo credit: *Micky The past few days have been extremely cold here in Minnesota, ... With Good Ones Time To Chck Your Annual Credit Report! Problems with Gift Receipts? Debt? What Debt? Mortgage Refinance Rates Continue to Fall The New Frugal Forum @ frugalhacks.com Free Advice [more...]

Date: 2009-01-14 16:21:15

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

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