Feeling ready to buy a house for the first time is much different than actually being ready to find and purchase a home. There are pitfalls for seasoned homebuyers, but first-time buyers should make sure to get all their ducks in a row before they start looking for a home. Your most important consideration should [...]
Archive | Credit RSS feed for this section
May 24, 2013
September 16, 2012
Credit Scores – How Important Are They? Like it or not, credit scores have great importance in our financial lives in many ways and many folks don’t even realize it. Never before in history have our financial transactions been so closely monitored by the major credit bureaus and used to determine our credit worthiness based [...]
April 17, 2012
Strategic default isn’t likely to go away for a long while and the likely 150 point credit hit most defaulters will receive isn’t incentive enough to avoid it. Strategic default in Atlanta is alive and well; the typical defaulter isn’t what most would expect and the thought process is even less complex. In short, the [...]
January 31, 2012
There are signs of hope in the American economy in 2012 so far – unemployment is down and the economy is still growing, to name two – but in terms of the domestic real estate market, foreclosures are still having an impact on housing prices. Data released recently indicate that the sale of foreclosure listings [...]
December 8, 2011
The Atlanta Journal Constitution reports that a new trend is apparent; homeowners are paying the credit card before the mortgage. Historically, Americans protected their house payment and were more apt to be delinquent on credit card payments, said Charlie Wise, the company’s director of research and consulting. But crashing home values and desperation have caused that [...]
November 10, 2011
It is undeniable that social media has made it much easier for people to bind together toward a common cause. Occupy Wall Street protestors have utilized social media to gather people in various cities across the country, many of which are protesting foreclosures and occupying abandoned buildings. Recently, Bank of America (which has been a [...]
June 20, 2011
It’s official: real estate markets nationwide have lost more over the last few years than they did during the Great Depression. Specifically, from 2006 to the first quarter of 2011, nationwide real estate markets have lost roughly 33% in value, compared to the 31% in value lost from 1929 to 1933. And the worse news: [...]
June 16, 2011
Posted by: DotLoop, Where Deals Get Done™ Most Americans dream of owning a home, but become deterred by negativity surrounding the housing market. Rather than speak with a REALTOR® about their options, they decide to continue renting –wasting money in the process. If only such renters knew the value of owning a home is –more [...]
June 1, 2011
When you review your credit report, or just begin to investigate your credit status, keep in mind that federal law provides you with a set of rights to aid in your task of gauging your credit rating.
May 19, 2011
Have you been turned down for a loan recently becuase you have a FICO under 640? Well good news, you may now qualify for an FHA loan even if your FICO score is 600. This means that if you meet the requirements you may purchase a “move-in ready” home using an FHA loan with a middle credit score of at least 600.
April 4, 2011
The beat goes on….all of the “special committees”, the federal involvement in FNMA, the “investigations” and “inquiries” into fraud and time bomb loans… and the hundreds of millions of dollars (or billions by now)….and what to show for it? Abysmal performance of Home Affordable Modification Program (HAMP) and a combative stance that essentially mandates struggling owners to destroy their credit before a lender will speak to them.
April 4, 2011
When I think of the American Dream’s beginning it was in the ‘50s, right after WWII, when everyone wanted to “own” a home. At that time, homeownership meant a 50 percent down payment and a maximum 15-year note. It was an accomplishment to own a home, a matter of pride and the ultimate indicator of success. In the 2000s the American Dream morphed into perversion. Homeownership became a right rather than a result of hard work and a long period of self-denial as one saved the 50 percent down payment.
March 17, 2011
Purchasing a home for Inland Empire residents after a bankruptcy, foreclosure or short sale can be a very frustrating. Most people do not even know how long one must wait before entering the housing market. Documentation is the key to avoiding a frustrating experience for the first time home buyer or even the season home owner. [...]
March 8, 2011
Credit reports are still key for lenders to determine a buyers ability to repay a mortgage loan. Having credit scores in the 700 range and open tradelines is ideal.
February 14, 2011
Should you pay cash for a home? The rates are great but the application pricess and underwriting is combative and brutal. Many buyers feel like they are being turned upside down and shaken to see what falls out of their pockets. Buyers with cash are often avoiding mortgages for the purchase of a home, buying with cash and refinancing later as/if needed.
February 13, 2011
For many individuals, the idea of purchasing a home is a bit of a scary prospect. However, with the right tools and plenty of knowledge, you can move forward and become a homeowner.
January 23, 2011
Utilizing the FHA 203K Streamline mortgage a Dayton Ohio home buyer can obtain a mortgage with a minimal down payment and up to $35,000 thousand dollars in rehab and or repair expenses. With so many Dayton Ohio bank owned properties (aka REO’s) available makes an excellent opportunity to not only get a fantastic price on a home but update it how you would like creating lots of equity. Visit http://www.greggreenwald.com for more information about the Dayton FHA 203K Streamline mortgage.
January 16, 2011
The Dayton Ohio Foreclosure and Short Sale Process can often be confusing and hard to understand. This article is intended to offer an in debth understanding of how Short Sale and Foreclosure process works in the Dayton, Montgomery and Miami county Ohio area however much of it is applicible throughout the country. If you or someone you know in the Dayton Ohio area is behind or about to be behind on mortgage payments it is important you know all your options before rushing to a decision. More articles on the topic can be found at http://www.GregGreenwald.com
January 10, 2011
Credit Score Optimization Tips for the USDA Loan Program With lender’s continuing to tighten their guidelines, it is more important than ever to know how to optimize your credit score for getting a USDA Loan here in Arizona. There are five components that make up your credit score, let’s take a look at them really [...]
January 4, 2011
Congress signed into law this past July a new consumer protection bureau and President Obama has named Elizabeth Warren to be the advisor of this new department to help crack down on mortgage fees, credit card, banking fees and many other unfair lending practices. The program will take up to 10 months to implement but [...]