From the category archives:

Credit

Bankruptcy Rules

November 19, 2010 Credit

I talked to a customer today and we had an interesting conversation! He told me he knows of a person that can write a letter the underwriter to explain their citation for filing bankruptcy. Here is what I told him. On a FHA loan a person has to wait 2 years before they can purchase [...]

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Going on a Financial Diet

July 7, 2010 Credit

Originally found at Realty Times Many Americans live on a margin, spending more than they earn, using credit to make up the difference, and saving at near invisible rates. Living past their means, they use credit to buy houses, cars, and merchandise that many experts would suggest they really can’t afford. This “good life” is [...]

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Fannie Mae Cracking Down on Strategic Defaults

June 29, 2010 Credit

Don’t think you’ll out smart the Fannie Mae it will come back to bite you in the butt!! Even though they have made some bonehead decisions in the last 15 years. Originally found at real estate webmasters In an effort to help curb homeowners who are upside  down on their mortgages from moving to take [...]

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Take the credit score quiz.

June 9, 2010 Credit

  I found a website that gives a credit score quiz. It’s a fun way to see how much you know about how credit scores are determined. Your credit score is even more important now than ever before in getting a mortgage, car loan or credit car. What I have told customers is that pay [...]

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New credit guidelines starting June 1st

May 20, 2010 Credit

Beginning June 1, your lender is likely to order a second full credit screening immediately before closing. The last-minute credit report will be designed to find out whether you have obtained — or even shopped for — new debt between the date of your loan application and the closing. If you’ve made applications for credit [...]

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how to impact your credit for 10 years

May 4, 2010 Credit

Walking away from a mortgage may seem like the only option for significantly distressed homeowners. But those considering this option should be prepared for the long-term effects it can have on their credit score and finances. The current housing crisis has left many lenders unmotivated to collect remaining debt after a borrower leaves their property. [...]

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The 6 Deadly Myths In The Debt Consolidation.

April 28, 2010 Credit

Originally found at Fresh Article Buzz The myths spread faster than the trues, that is why I am going to explain some of the most common myths in the credit repair area, one of the biggest myths is that you need a professional agency to manage your debt problems, this agencies can help you nevertheless [...]

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Blame it on the bubble

March 18, 2010 Credit

Originally found at guardian.co.uk Politicians and the media continue to refer to the economic downturn as being the result of a financial crisis. This is wrong. We have 15 million people out of work because the housing bubble that drove the economy since the last recession finally burst. The financial crisis may have been good [...]

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What happens when unmarried people buy a house and break up??

March 17, 2010 Credit

What happens when co-owners of real estate have disagreements relating to the use or ownership of their property? Joint Ownership Agreements. Unfortunately, many unmarried people who purchase property as joint tenants or tenants in common (ownership as tenants by the entirety among spouses is discussed separately, below) do not specifically discuss or have a clear [...]

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If I get divorced who will pay the mortgage?

March 15, 2010 Credit

With almost six in ten marriages ending in divorce, the problem of what to do with a property bought on a joint mortgage is a fairly frequent one. However, there is not a wealth of information out there to guide property owners on what happens next. D-I-V-O-R-C-E Once the relationship has come to an end, [...]

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