For years, lenders have utilized “credit scoring” to determine whether or not an individual is a good credit risk. Credit scoring has recently become a hot topic, due in large part by the mortgage lending industry’s willingness to use the process to evaluate one’s likelihood of repaying home mortgage refinancing or second mortgage loans. Even […]
Credit Scoring On Mortgage Refinancing Read More »
There is no doubt in my mind that the real estate market has bottomed out. I’m in Miami this week trying to pick up some “deals” in this recession-hit-hard town and I’m starting to see some changes in the marketplace for real estate.
Why the Bottom Is in for U.S. Real Estate Prices Read More »
You might want to consider getting a basic idea of your own regarding how much you can afford before you make an appointment to see a lender. One general rule of thumb states that you can afford a home that is worth twice your annual income. In some cases, this may not be entirely accurate, however…
The importance of Mortgage Pre-Qualification Read More »
Many homebuyers, especially first time homebuyers, are so excited and nervous at the prospect of purchasing a home that they sit in the lender’s office, glance over a ton of official looking paperwork, sign on the bottom line and never really give any consideration to what they should be asking the lender before they make that all important final step in the mortgage process.
What to Ask Before Signing for a Mortgage Read More »
I recently heard about a couple that needs financial help. They are in the real estate business and not surprisingly due to the real estate crash, their income has dropped significantly in the last two years from $10,000 a month to $5,700!
Help! Our Mortgage Payment is Too High! Read More »
