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Credit Card Debt what to do when you lose your job can you still apply for a loan modification?

by on October 5, 2010

Applying for the government loan modification foreclosure prevention plan if you are unemployed.

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Got Collections?? Your Home Mortgage Application is at Risk of Being Denied

by on September 30, 2010

Updated Underwriting for Collections, Charge-Offs, Judgments, Garnishments and Liens   Conventional, FHA and VA mortgage loans in Phoenix may soon become harder to obtain for those with a troubled credit history. Currently, a borrower with up to $5,000 in collections may still eligible to purchase a home in Phoenix, in many cases. The new guideline change could also affect current [...]

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How to Fix Your Credit Score II

by on September 22, 2010

In my last post, I discussed some short-term fixes for boosting credit scores. Let’s look now at the long-term strategies. If you’re not familiar with what goes into a credit score you may want to read this post first. 1. Pay down your credit cards. Paying off your installment loans (mortgage, auto, student, etc.) can [...]

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How to Fix Your Credit Score

by on September 22, 2010

Not happy with that credit score? More importantly, is your lender not happy with it? Well, here’s some good news: it’s not a fixed number. It’s like your cholesterol level. There are things—short-term and long—that you can do to improve it, and things to avoid… First, some short-term fixes: 1. Correct errors in your report. [...]

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What is a Credit Score?

by on September 22, 2010

To get to the credit score, we have to start first with the credit report. Here’s how it works… Data on your credit activity is gathered, stored, and sold by three credit reporting agencies—Experian, Equifax, and Transunion. When someone—you or a creditor—requests this information, a report is generated. This report breaks down your credit profile [...]

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Card Sharks

by on August 31, 2010

Consider yourselves warned. As The Wall Street Journal reports, that “professional card” offer you received in the mail last week may give your ego a boost, but not without first raiding your wallet. With issuing offers of such cards up 256% from last year, you may be asking yourself: has everyone become a small-business owner [...]

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Know Your Credit Score

by on August 4, 2010

Whether you’re in the market for a new home, or applying for a loan, before you start looking at neighborhoods, you need to look at something else-your credit score.  Here are some of the key terms you should know: Payment History-Your payment history is a significant factor in determining your credit score.  A history of [...]

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Buying Your First House in Phoenix? Five Tips To Improve Your Credit Score & Save Money

by on June 23, 2010

Many first time homebuyers in Phoenix have recently decided to purchase their first home only to discover that they have less than perfect credit.  Don’t be discouraged.  There are many ways to rehabilitate your credit.  Here are a few key tips to improve your credit score in the quickest and most effective manner. •1. Review Your Credit Report For [...]

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The Curious Case for a Real Estate Shortage

by on March 22, 2010

At a time when almost everyone in the real estate industry, and most homeowners trying to sell, are desperate for more buyers and market activity, some analysts are predicting a real estate shortage in the next few years. Really? Is a real estate shortage even possible in the foreseeable future? David Crowe, the head economist [...]

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Will HAFA Supplemental Directive 09-09 eliminate short sale investor flips / quickturns

by on January 2, 2010

I recently posted on this blog the following article Short Sale Heaven Coming April 5th 2010 . Out of it came several interesting comments including a post from an gentleman who sharply disputed my comments  let me know that I’d “been schooled.”  I delayed replying because I thought further discussion of the subject of the [...]

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Treasury Department Listens To Ideas on Easing Credit Crunch

by on November 27, 2009

There was a small business lending forum where bankers could talk to the Treasury department about ideas to ease the credit crunch.

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First Time Home Buyer Credit Extension and Move Up Buyer Credit Expansion

by on November 6, 2009

The First Time Home Buyer Credit extension and Move Up Buyer Credit expansion will become official today. As part of the government’s efforts to encourage people to spend money to help revive the economy, the House of Representatives joined the Senate in approving legislation that will expand a popular tax credit for home buyers.   The [...]

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