Oct 1, 2010
What You Can Do to Improve Your Credit
Credit scores, along with your overall income and debt, are big factors in determining whether you’ll qualify for a loan and what your loan terms will be. So, keep your credit score high by doing the following: Continue reading
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Oct 1, 2010
10 Questions to Ask Your Lender
1. What are the most popular mortgages you offer? Why are they so popular?
2. Which type of mortgage plan do you think would be best for me? Why?
3. Are your rates, terms, fees, and closing costs negotiable? Continue reading
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Oct 1, 2010
5 Factors That Decide Your Credit Score
Credit scores range between 200 and 800, with scores above 620 considered desirable for obtaining a mortgage. The following factors affect your score:
1. Your payment history. Did you pay your credit card obligations on time? If they were late, then how late? Bankruptcy filing, liens, and collection activity also impact your history. Continue reading
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Sep 30, 2010
WHAT IS A VA LOAN?
The VA Loan became known in 1944 through the original Servicemen’s Readjustment Act also known as the GI Bill of Rights. The GI Bill was signed into law by President Franklin D. Roosevelt and provided veterans with a federally guaranteed home with no down payment. Continue reading
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Sep 30, 2010
It is estimated that 60%-70% of homeowners who have modified a loan have or will go back into default within the first nine months and back on the road to foreclosure. This proves that many homeowners approach a loan modification with high hopes and realized only after completion, that it was not what they bargained for.
Why Loan Modifications Often Don’t Work
1. Modified loans often carry higher balances than the original loan… Continue reading
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