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

Blog posts (119) | Videos (71)
 

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

Credit Drying Up For U.S. Small Biz

Reuters: As losses mount at American banks and the pain of the credit crisis spreads from housing and finance to the broader economy, many small companies complain it is increasingly difficult to obtain loans. Tighter credit could ... Development Center in Texas. “They are demanding higher credit scores and want more collateral before [more...]

Date: 2008-07-29 14:07:46

Senators: credit scores shouldn’t determine insurance rates.

A person’s financial history should not determine how much they pay for auto insurance, say three south central Senators. “If you have a low credit score you pay a higher amount,” said Sen. Oletha Faust-Goudeau ... it so insurance companies could not set premiums based on credit scores. She is co-sponsoring [more...]

Date: 2009-01-15 23:01:51

Saving your credit and credit scores

I have blogged about my experiences with American Express and their systematic reductions in my credit lines ... , but in my case Amex decided to start chasing the balance.  I pay them $500, then they reduce my credit limit ... as “closed as consumer’s request”)  which would have locked in the higher credit limit on the credit [more...]

Date: 2009-01-14 23:51:28

The truth about home down payments...right now

Filed under: Real EstateWith all the talk about the credit crunch and tough housing market, ... to get a mortgage. While it's true that credit score requirements are higher than ever -- somewhere north ... to get an FHA loan with a weaker credit score than you would need for traditional Fannie and Freddie [more...]

Date: 2009-01-02 23:30:00

GMAC to lend money to those with credit scores higher than 700

We already saw how the economy has affected the markets, from real estate and auto industries, to financial institutions ... lending money to people that have a credit score of more than 700, I did not even blink ... . Long gone are the times when 0% down and “no credit needed” loans were widely offered by lenders [more...]

Date: 2008-10-24 21:26:58

Repossession

Repossession is when a lender takes back the property you have purchased, leased, or put up for collateral ... as a higher credit score. We have excellent customer service, and you will develop a close professional relationship with your paralegal to work together to clean up your credit report Source . [more...]

Date: 2009-01-04 01:30:59

Now Feds hope to spur auto lending

Credit markets for housing are loosening up a bit. Will automobile lending be next? Car dealers certainly hope so ... to borrowers with credit ratings higher than 620 – a subprime score that illustrates the difficulty ... of credit, 2008 was the worst year for auto sales in a very long time. Maryland dealers sold 16,842 new cars [more...]

Date: 2009-01-02 15:07:40

Must Read

The Power of Persistence I came across a fascinating study this week. Can’t stop thinking about it ... children lasted 13.93 minutes or 40% longer. Any one want to guess who has higher scores on standardized ... more credit than it deserves. Persistence quotient might be a better predictor of success! How long [more...]

Date: 2009-01-16 05:02:20

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

Auto Refinancing Loan – Tips For Getting A Cheaper One

Current economic situation is forcing several car borrowers start thinking about refinancing their vehicles, ... to offer lower interest rates on your application. Having Less Than Perfect Credit While you can find auto loan approvals regardless of your credit score, you will be paying higher interest rate [more...]

Date: 2009-01-02 12:40:11

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

Easy No Credit Check Loans

September 20, 2009 | By Preston West In Blogging | For those people with low credit scores or low wages, “No Credit Loans”, are an excellent alternative. Although this loan is linked with much higher interest rates it is an option for those with few choices. Because the loans are usually paid back over a shorter amount of time the huge interest rate may not be a deterrent to borrowing funds. For people that need quick cash for a short term, this could be ideal. [more...]

Date: 2009-09-20 22:50:50

The United Socialist States Of America

I can't imagine any politician arguing against this on principle, can you? ... , and immediately lowered its lending standards. No longer would buyers need a credit rating of 700 or higher. Now, people qualify with scores as low as 621, which is 2 points above “poor” and 102 [more...]

Date: 2009-01-14 03:19:28

Mortgage Rates on a Friday Afternoon

Changes to rate are noted with a  :)  for a rate improvement or :(  when rates are higher than what I posted last week ... properties).  The conforming rate quote below is based on owner occupied with a minimum credit score ... @ 1 Pt: 7.750% (APR 7.656%) worse 0.25%  :( FHA.  Pricing based on credit score of 620 or better [more...]

Date: 2008-08-08 22:33:56

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

Forced Swing

Trevor Immelman Creative Commons License photo credit: mandj98   Most PGA Tour Players, if asked, ...  higher scores.  Remember, playing well evolves from good swing tempo. The temptation is always ... your scores. Related Posts No Related Post [more...]

Date: 2009-01-17 00:21:09

Workable real estate deals may require even more creativity

This is my column for this week from the Arizona Republic (permanent link) ... can help his buyers accumulate a down-payment, perhaps working with them to improve their credit score at the same time. The investor gets a higher purchase price, the buyers get a lower monthly payment [more...]

Date: 2008-12-20 14:25:56

Workable real estate deals may require even more creativity

This is my column for this week from the Arizona Republic (permanent link) ... can help his buyers accumulate a down-payment, perhaps working with them to improve their credit score at the same time. The investor gets a higher purchase price, the buyers get a lower monthly payment [more...]

Date: 2008-12-20 14:24:47

Where's The Happy Medium?

The other day, I noticed that the finance charge on one of my credit cards had gotten a lot higher, ... been more than $1,500), and in the last six months, my salary has increased about $10,000. My credit score hovers somewhere around 700, give or take. I have to wonder: Where's the 'increased risk'?The banks [more...]

Date: 2009-01-15 20:39:00

Important Information About Student Loans

by Kim Archer For those who cannot afford to directly pay for their college, student loans are typically used to provide the cash they are lacking ... show on the student’s credit score. There are also student loans that are granted to adults instead ... with higher education. New students can have access to several kinds of student loans. The most [more...]

Date: 2009-01-16 10:38:32

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

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 [more...]

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

Helping America’s Students

Helping America’s Students Peter Wehner - 12.10.2008 - 10:19 AM The Trends in International Mathematics and Science Study, or TIMSS, ... deserves credit for requiring schools to administer annual math tests and demanding higher standards ... gains in math in recent years (since 1995, for example, the average score among fourth-graders [more...]

Date: 2008-12-10 15:19:05

2009: What’s Ahead at Beingfrugal.net

It’s hard to believe it’s the beginning of yet another year.  My mom was right when she used to tell me that time seems to pass more quickly as you get older.  This is the year my daughter will head off to middle school!  What happened to my little pig-tailed toddler? I could probably spend all morning reminiscing on old times, but I won’t [more...]

Date: 2009-01-01 12:00:22

Grateful

Even though we are spending the week living in one giant freezer (the high today is -6, with the low of -21 - although I swear the thermometer said it was lower than that this morning, and that is Fahrenheit, in case you weren’t certain), we battled with stomach virus that left Little Dude without one of his beloved blankets for several hours ( [more...]

Date: 2009-01-15 23:06:34

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

Is It Better To Have A Mastercard?

by Will Smith In these current times despite a poor credit history it is still feasible for someone to get a credit card from the mass that ... unfortunate people with a poor credit score can see straight away which credit card companies will issue ... currently flood the market. The primary two credit card suppliers normally best to approach first [more...]

Date: 2009-01-16 18:28:18

What went right for Bush

Article from: The AustralianTHE final word on George W. Bush's foreign policy belongs, perhaps, to his successor, Barack Obama, who will be inaugurated as president of the US next week. In his most wide-ranging television interview on foreign policy, Obama was asked last week whether he stood by a remark he made in the southern Israeli town of [more...]

Date: 2009-01-16 22:33:00

Loose Change: 1/15/09

houdini_CV_20090115092637.jpg Getty Images Personal Finance: -How to shop for legitimate, nonprofit credit counseling. SecretsForMoney ... -Members of the Pennsylvania State Employees Credit Union will be trailblazers in the free credit-score front. It’s an expansion of the “Scores on Statements” program. WSJ -Along with college [more...]

Date: 2009-01-15 14:30:54

Let Me Tell You About The Loan You Could Have Had

Not interested? Most people aren't when it's talking about how they got taken advantage of in the past. First off, it's in the past so it is over and done with, and there's no use dwelling on it, right? Second, there's the ego thing. Nobody who's been bragging about what a great deal they got likes to find out they've been had. Taken for a ride [more...]

Date: 2008-12-18 15:00:47

Texas Faith: The gift of recession this season

The economic downturn brings with it a host of negatives, no doubt - and not just material, but psychological as well. As columnist David Brooks of the New York Times wrote recently, recessions reorder the social order and breed a certain pessimism. But in this holiday season, it is possible to ask another question: [more...]

Date: 2008-12-23 13:20:32

Slump hits architects, billings at 13-year low

• Click to enlarge A survey of architects shows that construction of commercial buildings likely will drop in the next nine ... reported the November billings index rating was 34.7, down from the 36.2 mark in October. A score above 50 indicates an increase in billings, an AIA press release said. The “inquiries for new [more...]

Date: 2008-12-18 02:00:28

Best 0% APR Credit Cards

Gone are the days when you couldn’t walk to your mail box without a credit card offering 0% on balance transfers or 0% on purchases hitting you in ... for it. There is absolutely no reason why anyone should pay an annual fee to use a credit card, unless it offers ... the face. With the recent credit crisis and all the bank failures, credit card issuers [more...]

Date: 2009-01-15 12:09:25

Three Legislative Proposals That Could Have Major Consequences for Your Finances

J.D. is on vacation. This guest post comes from DR of The Dough Roller, a money management blog ... in a consumer report or any change in a consumer’s credit score, as the basis for increasing any annual ... on Wall Street and in the credit markets lately, one could easily forget about money-related legislation [more...]

Date: 2008-12-18 13:00:42

The Credit Crunch, Close Up and Personal

Within the last year, the true extent of the real estate debacle and ensuing credit crisis in the United States has become blatantly obvious ... and not just those in the subprime category. Customers with a credit score of 700, who were deemed “most ... .   But now there is a new phenomenon rearing its ugly head: a credit crisis of the individual [more...]

Date: 2008-12-15 16:37:48

Eliminate Your Debts With Unsecured Debt Consolidation Loan

Are you worried about piles and piles of debts? Well, unsecured debt consolidation loan is what you’ve been looking for ... to provide any real or personal property at all. Even though you have a bad credit history, you are still ... will be spared from any foreclosures in case of defaults. The interest rate though is much higher [more...]

Date: 2009-01-15 07:50:27

FHA Mortgage Insurance Fund Down 40%

Mortgage Law Central reports today on FHA’s Oversight Capability.  The House Committee on Financial Services held a hearing to look into the recent Business Week story alleging that predatory lenders are alive and well originating FHA loans. The committee listened to testimony from HUD on the approval process for FHA lenders, [more...]

Date: 2009-01-14 22:30:06

How To Break Away From The Debt Prison, Forever!

By Tom Graneau Americans are plagued with personal financial problems ... dictated to by an invisible being telling me what to do, and how to do it. I prefer to have the freedom ... finance is the most common platform for human errors. Many of us have purchased more “stuff” on credit [more...]

Date: 2009-01-16 18:03:11

Subprime Defaults Are Just The Beginning

If you thought we were almost done with the collapse of the mortgage market, you are sadly mistaken. Last night 60 minutes did a piece about the looming wave of mortgage defaults, Alt-A and option ARMs. While, as Scott Wilson outlines below in his guest post on Your Mortgage or Your Life, 60 minutes did not do a fabulous job on this story, [more...]

Date: 2008-12-15 23:37:29

#464. The official point system of SCL commenter fitness.

(A few weeks ago, a reader told me that someone had written a hilarious post about what it takes to be a wicked awesome Stuff Christians Like commenter. That sounded too funny to be true, but it wasn’t. A guy named Matt with a site called thechurchofnopeople.com did indeed write a really funny post about commenting on SCL [more...]

Date: 2009-01-02 11:00:00

Get The Best Home Mortgage Loans

by John Bear Planning to refinance your current mortgage? There are actually several options that are available for you ... . Now, it is entirely up to the lender to give loan approval that is based on the credit scores. In simple terms, to have a no doc loan, your credit score should be very high. Now, if you think low document home [more...]

Date: 2009-01-14 21:01:19

Things You Tend Not To Spend Much Time Thinking Seriously About When Making A Decision To Relocate

I have had this item on my blogging to-do list for probably 18 months now, without attempting to address it ... accounts and getting local credit cards. You see, your check - or should I say cheque? - drafted ... s start with credit history, something discussed in this blog a long time ago. Or, rather, your lack [more...]

Date: 2009-01-15 20:29:06

Pay a Prepayment Penalty Now, or Wait to Refinance?

Hi Dan wondering if you could help me out I'm getting a lot of different answers from a lot of people and I'm really searching for help I bought my house brand new (three years ago) for 550,000, and (the next year) I refinanced into a mta loan. which at that time was around 4.25% and now is 7.125%. I have a hard prepay of $12,000 [more...]

Date: 2008-12-25 16:11:28

Student Loans in United States

Federal student loans and Federal Plus loans are available in United States for the students who wish to continue with their higher education ... approval does not involve a credit check. You also don’t need a cosigner to apply for this loan ... of the student should have a good credit score. This is one thing which the government looks into to approve [more...]

Date: 2009-01-16 04:16:18

Recommended Free DIY Credit Fixing Website

My friend, Dean, has a website on how to fix your own credit. It’s pretty detailed because it’s what he did himself, for free, to fix his own credit ... . However, it can’t hurt if your score is a 750 to clean up the bad items on your credit report just to nudge it higher. It’s a good time to do this since you can get a free report online and send [more...]

Date: 2008-12-29 15:44:54

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

Recession Proof Your Credit Rating

With the unstable state of the economy, many customers are concerned about the rising interest rates and the roll-backs that are taking place on ... you a higher interest rate with the credit company while shaving valuable points from your credit ... card companies. This also helps to maintain the credit score. One of the most important aspects [more...]

Date: 2009-01-14 19:00:30

If You Have Bad Credit, Can You Still Get A Mortgage?

“If you have bad credit, can you still get a mortgage?” Generally speaking - no. Or maybe I should say “not until you fix your credit” ... with these companies. The end result? I see someone who has a poor enough credit score (below 580 ... who has a high enough credit score to qualify for a mortgage “graduating” from their programs. Common [more...]

Date: 2009-01-14 23:32:50

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