What Are Disputed Credit Accounts? *Credit Accounts (that report on the credit report) in which there is disagreement about any material item like balance, interest rate, payments are most common, any aspect of the agreement between a borrower (creditor) and lender (debtor). Includes: Disputed Charge-off Accounts (charge off shows a due debt, but no payment due)…
The FHA announced they are reducing loan limits for 2014 in high-cost areas in an effort to scale back their role in the housing market. Looking back to 2008, financial markets depressed in the aftermath of the meltdown, economy on the verge of recession, enter loan bailout- the Federal Housing Administration. This direct government involvement…
In the last few years, many consumers bought homes with low down payments and have seen a dramatic rise in their home-equity-opening the door to trade up to more a desirable homes and/or locations. Perhaps the family is expanding and or timing is right to trade up. As attractive as the concept sounds, due to…
Closing fees are always an inevitable part of taking out a mortgage. Following are little-known tips to minimize the fees when encumbering property… Ask For Seller Credit– In order to finance closing costs in a purchase transaction, buyer asks seller for closing cost credit in the offer. Most lenders allow for a 3% seller credit.…
To say current mortgage rates are volatile, is an understatement. For the last two months there’s been strong swings in mortgage pricing, mortgage rates to very unstable. Nothing can be more frustrating for pre-approved home shopper knowing their ability to qualify and their subsequent proposed payment could change at anytime. How to deal with volatile…
You’re doing everything right, you’re paying your bills on time, you earn good income, and you’re applying for a mortgage with second thoughts. Maybe you’re trying to buy a new home, and something’s just not right, perhaps the proposed new payment is a financial squeeze. Paying attention to the signs means the difference between making…
For anyone who has tried to apply for a mortgage and had student loans, they know whats it’s like to be scrutinized and questioned by the mortgage company over the validity of the those obligations. Like other forms of debt, like car loans or credit cards, student loans fall into the same classification, debt made…
If you have never owned a home before, or owned a home in the past, or previous circumstances require you to rent a home now, and you’re thinking about buying a home again, we have good news. An opportunity in the market is to purchase the home you live in. That’s right make a purchase…