Real Estate Industry Blog » Credit

Housing Prices Still Impacted by Foreclosures

John E. Miller — Tue, 31 Jan 2012 17:01:50 +0000

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 [...]

Paying the Credit Card Before the Mortgage

Hank Miller — Thu, 08 Dec 2011 12:43:02 +0000

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 [...]

Bank of America Listens to Debit Card Fees Outcry, but Ignores Foreclosures

John E. Miller — Thu, 10 Nov 2011 19:52:04 +0000

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 [...]

Real Estate Losses Surpass the Great Depression – And Why the News Isn’t All Bad

Brian Davis — Mon, 20 Jun 2011 15:48:14 +0000

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: [...]

Owning a Home Gives You More Than a Roof Over Your Head

Dotloop.com — Thu, 16 Jun 2011 14:34:56 +0000

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 [...]

Your Rights Under the Federal Fair Credit Reporting Act

Stephen Katz — Wed, 01 Jun 2011 19:18:59 +0000

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.

How Your Credit Score Can Impact Your Mortgage Loan

Leesa Sandoval — Thu, 19 May 2011 18:35:45 +0000

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.

The Boondoggle that is HAMP – thanks for the help DC

Hank Miller — Mon, 04 Apr 2011 19:59:00 +0000

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.

Is Owning a Home Still the American Dream?

Hank Miller — Mon, 04 Apr 2011 17:49:16 +0000

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.

When Can I Buy A Home After A Short Sale-Foreclosure-Bankruptcy?

Mark Estermyer — Thu, 17 Mar 2011 17:53:15 +0000

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. [...]