mortgages

How Does Mortgage Delinquency Affect Your Credit Score?

April 14, 2011

Many people, many more than usual and many more than in past years, have recently experienced the trauma of not being able to make the house payment, not being able to catch up after delinquencies and the horror of foreclosure, not to mention the people who never really missed a payment but were completely unable [...]

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One Page Mortgage Disclosure

April 13, 2011

If you have ever purchased a home with a mortgage, you will remember the stacks upon stacks of papers you needed to sign, bothe during the loan application and the closing, all the while supposedly knowing everything each paper said, even while there was not time to read them. Well now, Elizabeth Warren, the woman [...]

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Mortgages, Credit and Financial Responsibility

March 25, 2011

There are a lot of valid reasons for avoiding credit. However, there are also some reasons you should have credit. Many mortgage companies are now requiring 3 open lines of credit along with a good down payment and a 750 plus credit score in order to qualify for a new mortgage to purchase a home. [...]

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The Crazy Credit Catch-22

March 23, 2011

Remember Catch-22 and that “damned if you do, damned if you don’t” mentality? Well that is exactly how credit works these days. If you are responsible, pay off all your debts on time and live a relatively debt-free, all cash life, you can be penalized by mortgage companies when you want to purchase a home. [...]

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Mortgage Delinquencies Decline

March 22, 2011

The mortgages that are at least 30 days late decreased more last month than it has in over a year. Delinquencies in February 2011 were down 1.2 percent from January 2011 and 18.4 percent from last year at this same time. But the foreclosure inventories are still quite high and significantly higher than last year [...]

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Double Dip In The Housing Market

January 26, 2011

Housing prices in many cities across the nation are at their lowest level in years. And while everybody has a theory as to why and the comments on the Internet have people blaming the banks, the homeowners, the legislature, the government, the truth probably lies somewhere in the middle. The fact is that is will [...]

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Was “Flip That House” A Sign Of An Upcoming Mortgage Crisis?

January 14, 2011

In a 2005 meeting between economists and then Federal Reserve Chairman Alan Greenspan as the housing market was continuing to inflate a chief economist named David Stockton remarked about how he had come across a television show where the “gist of the show was that with some spackling , a few strategically placed azaleas and [...]

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Will 2011 Be The Peak Of The Foreclosure Crisis?

January 13, 2011

Real Estate analysts from RealtyTrac Inc. are predicting that 2011 will be the height of the Real Estate crisis with an expected 1.2 million homes being repossessed. Lenders are poised to take back more homes than at any other time since the crisis began in 2006. At this time there are 5 million borrowers who [...]

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Ask For Info, Decrease Your Credit Score??

January 5, 2011

In an interesting article from the Huffington Post, an individual requested information from his mortgage servicer, Bank of America, about who actually owned his mortgage. He did this through a website called “Where’s the Note?”. As a customer you actually have the right to know who owns your note. However, after initially declining to tell [...]

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Housing Market Crystal Ball

December 17, 2010

So what is going to happen with the housing market? Many people want to repair their credit so that they can actually buy a house and the truth is that the housing market affects us all, whether we rent or own, the housing market affects you unless you are living under a viaduct and if [...]

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