Easy Ways to Build Your Credit
Below is a list of easy things an individual can do to build credit or increase their credit score. Get 2 credit cards Increase your limit on existing credit cards Keep your credit cards open Pay down cards with high balances Use your card and pay it off monthly Secure an installment loan (mortgage, auto, personal, etc.) Pay off old charge-offs Dispute wrong reporting (Do this before applying for a loan) For a more detailed explanation on how to build your credit, visit this link to MSN Money....HARP Refinance Mortgage
Over the last few years many people have heard about the HARP program but detailed information on the HARP is hard to come by. The HARP program was designed for borrower’s whose loans were held by Fannie Mae (Freddie Mac also has a program with similar guidelines). The huge benefit of HARP is that there is no appraisal required so borrower’s that have no equity or are underwater on their mortgages can still qualify. There is no loan to value restrictions. Another benefit is that this loan can be closed very quickly. Some important requirements for the loan are that the borrower’s must be the same as the current loan, borrower’s still must have qualifying credit, and borrower’s must show they can afford the new loan. If you think the HARP program may be right for you please contact me...Monday Mortgage Recap
Last week mortgage rates moved up slightly. The new chair of the Fed, Janet Yellen, had her first testimony before congress and indicated that the economy was still moving in the right direction even though economic indicators pulled back slightly. More importantly her tone led prognosticators to believe that the Fed won’t change their course any time soon so rates will stay low. Look for rates to remain fairly stagnant with slight moves each way depending on the reported data. See current information at the Wall Street Journal Market Data...Foreclosure and Short Sale Information
The recent prolonged recession had a negative effect on the majority of Americans. Many lost their jobs and were no longer able to make mortgage payments so they either worked out a short sale with the company holding their mortgage or were forced into foreclosure. Many of these same people have been able to get back on their feet and are now interested in purchasing a home again. If you are one of those people you need to know when you will be eligible to qualify for a mortgage. The most important date to know is the date the title transferred out of your name and into someone else’s. The foreclosure proceedings could have started in 2008, but if the property wasn’t transferred until 2013 that is the time the clock starts ticking for mortgage qualification. Please feel free to contact me to help find out if you are eligible for a mortgage or when you may become...Connect With Us
