Tag Archives: credit score

Mortgage Lenders Avoid Risk

As a reaction to the profligate and reckless lending of the housing boom, since 2007 mortgage lending has been much more discriminate. “Discriminate” is a bad word to many people but I think it is a good word. I have … Continue reading

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How Do You Get A Mortgage With Average Credit?

You will find it easier to get a mortgage if you can make a large down payment, in excess of 20% of the mortgage. Also, if your mortgage is worth much less than the value of your home you will … Continue reading

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When To Walk Away From Your Mortgage

If you don’t have much money invested in your home and you don’t really like and its value is exceeded by its mortgage and you’re ready to take a five-year hit on your credit score, then perhaps you should walk … Continue reading

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Who Can Get Financing To Buy A New Home?

Only those with stellar credit, reliable income and solid down payments. For everyone else, mortgages are hard to get. Yes, mortgage rates are near all-time lows and home prices are the lowest they’ve been in five years. US News reports: … Continue reading

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Debt Settlement – Strategies for Better Debt Settling

Debt is serious problem for many Americans. From credit card to student loans it seems almost everybody is affected by debt. Some people choose not to answer their phone when debt collectors call and just hope that the problem will … Continue reading

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Credit Scores

I’m reading the book Mortgage Confidential: What You Need to Know That Your Lender Won’t Tell You by David Reed. On page 138, he notes when two people apply for a loan, lenders may use the score of the person … Continue reading

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How Do You Get A Bank Loan?

Banks have become more careful about making loans over the past three years. So what do you need to get a bank loan? You need a good credit score, 750 or above. You need to have held your current job … Continue reading

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Helping Your Child Develop Good Credit

It’s pretty simple. Add his name as an authorized user of your credit card. This will help him build up his credit score and will make it easier for him to get loans, including mortgage loans, in the future. New … Continue reading

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Crunching The Numbers On Your Refinance

The Hartford Courant says you need to crunch some numbers before seeking out a mortgage broker or lender. You are going to need a credit score of over 700 to refinance and at least 20% equity in your home. You … Continue reading

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