Loan Modification is not a new option for those in a financial hardship situation, but lately it has become much more wide-spread. This is due to President Obama’s Making Home Affordable Plan. With the signing of his program, it has become easier to obtain one of these reworked mortgages. You should definitely look into this program.
Don’t delay looking into this Read More
Your credit report usually has three different credit scores.
Each score is from one of the three credit bureaus.
A mortgage lender usually uses the middle of the three credit scores. This is known as a “mid score”.
Your credit scores from different bureaus are usually within a similar range. For example, your credit scores may be:
720 706 691 Sometimes there is a substantial Read More
Despite diminished reserves, FHA Commissioner David H. Stevens insists the Federal Housing Administration does not need financial support from the federal government. As a federal agency charged with supporting the housing market in the government’s effort to recover from the current housing crisis, FHA is taking it upon themselves to prevent itself from falling victim to the housing Read More
Last year when I dealt with my mortgage clients I would search through up to 50,000 schemes in order to find them the best deal. Tonight I only have about 10,000 schemes available, and if you were to take the repetition out of this (i. e. deal A is 6% with a f1995 fee, deal B – same lender – is 6.5% with a f1000 fee, deal C – same lender again – is 7% with no fee) there is probably only 1000 schemes Read More
Even for the experienced property investors, choosing a housing loan is never an easy task. For the home owners who are refinancing for the first time, the process can be very daunting. It is not just about the lowest interest rates. There are in fact many other factors to consider, and every one of them has to be carefully thought through before deciding on the most appropriate Read More
Credit and Refinance
We all like to think we could pay cash for everything. We all like to believe that if we don’t have the money to buy it now, we should simply wait. But the fact is, credit makes the world go around. Without it, demand dries up, commerce slows down to dangerous levels, and jobs are lost.
So it is imperative that the credit wheels start turning Read More
If you are making higher payments on your present mortgage on a regular basis, then certainly your financial resources will be under a lot of pressure. So, it would be optimal for you to look for ways in order to reduce the burden. You can do so by replacing the current mortgage with a new one, but what if you are having bad credit problems? Even then, there is no need to be worried, Read More