25 June 2009
Even with a bankruptcy, bad credit, and no credit it is still possible to get a bad credit mortgage. Of course, the plain reality is that you will not get as good a loan as someone with better credit. The interest rates you get are based on your credit history including your FICO score. With [...]
Posted in Buying A House With Bad Credit0 Comments
25 June 2009
Your overall FICO score will determine what kind of rates you will get from your lender. Your FICI score applies to all loans – personal, car, boat, and home. The higher your score, the more favorable your interest rates will be. Your FICO score is determined by these 5 factors: 1) Payment History (35%) – If you [...]
Posted in What Is A Bad Credit Score?0 Comments
25 June 2009
1. More mobility. This is especially true in depressed market conditions like where experiencing right now. If you are living in a depressed market like Detroit and need to move to get a job, good luck selling or renting your house to recoup your losses. In a bad job market, flexibility is key. 2. Depreciation. With all the [...]
Posted in Renting vs. Owning0 Comments
25 June 2009
1) Pay your bills on time. 2) Reduce the amount of outstanding debt you owe. 3) Don’t keep applying for new credit cards (don’t cancel the ones you have, just stop using them and pay them down). 4) Make sure to look at your credit report once a year to keep an eye on it, this helps you [...]
Posted in How To Improve Your Credit0 Comments
24 June 2009
Real Estate Agent Commission – This is a true buyers market, virtually everything is in the buyers favor at this time. The standard realtor commission used to be 6%, this was an industry standard that held true for many years but the market has changed and it’s entirely up to you to negotiate the best [...]
28 May 2009
Traditional Banks or Credit Unions For most borrowers, a bank or credit union is going to be the best choice for traditional loans. It’s a good idea to shop around for a mortgage, go to two or three different banks to what types of loans are available and who is offer the best interest rates. In [...]
Posted in Getting the Best Mortgage0 Comments
04 March 2009
Mortgage or home loan provides you with a financing option which you can use to purchase your home. The lender offers the mortgage loan after receiving a security (usually your house or a fixed property) against it. There are different types of mortgages but before you choose one, it is important for you to keep [...]
Posted in Getting the Best Mortgage0 Comments
04 February 2009
I’m sorry to report that fast credit repair is a bit of a myth; truth is Fast Credit Repair is a whole lot sexier than the more honest Slow Credit Repair. That’s not to say that you can’t take some quick easy steps to start improving your credit today, only that these steps will take [...]
Posted in How To Improve Your Credit0 Comments
04 February 2009
You’ll see a lot of companies offering credit restoration, fast credit repair, credit report repair or other “solutions” to miraculously improve your credit rating, but the fact is that credit restoration is a slow tedious process. Most people don’t go to sleep one night with excellent credit and then simply wake up the next morning [...]
Posted in How To Improve Your Credit0 Comments
04 February 2009
Since the economy is so bad, more and more people are facing the prospect of a bad credit rating and wondering how this will affect them in the future. There’s no doubt that having bad credit will be a liability. It affects whether you can get loans in the future, what interest rates you are [...]
Posted in How To Improve Your Credit0 Comments
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