You May Qualify for the Tax Credit, But Is Your Credit Strong Enough to Qualify For the Home Loan?

December 1, 2009

The newly-enacted Worker, Homeownership And Business Assistance Act Of 2009 has extended the tax credit of up to $8,000 for qualified first-time home buyers. The tax credit now applies to purchases occurring on or after January 1, 2009 and on or before April 30, 2010.  And in cases where a binding sales contract is signed [...]

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Recent Changes in Credit Scoring and Reporting and How They Affect You – FICO 08

November 2, 2009

While the roots of the modern credit report can be traced all the way back to 1898, the numerical credit score wasn’t devised until the 1950s and didn’t become a major part of the American financial system until the last twenty years. In 1956, Bill Fair and Earl Isaac devised analytical tools that attempted to [...]

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All Credit Experts Are Not Created Equal

November 1, 2009

Close Credit Cards-Pay Everything In Cash Pay Off Collections Before Applying for A Loan Close Accounts You Don’t Need or Use Paying Off Your Auto Loan Will Help Your Credit All sounds like great advice, right? And it may be for some things, but I can tell you first hand that all of these items [...]

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Download the SAFE Act: Secure and Fair Enforcement Mortgage Licensing Act

October 22, 2009

Click Here to Downloand the SAFE ACT Now

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The Mortgage Crisis and Your Credit Part Seven: Some Concluding Thoughts

July 19, 2009

We’ve covered a lot of ground in this series! In case you missed any of the important articles, use these links to access the blogs now: The Mortgage Crisis and Your Credit Part One: No Laws Requiring Lenders To Report To The Big Three The Mortgage Crisis and Your Credit Part Two: Foreclosure The Mortgage [...]

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The Mortgage Crisis and Your Credit Part Six: Bankruptcy Mortgage Relief

July 12, 2009

How does bankruptcy affect your mortgage situation and your ability to qualify for a home loan in the future? Currently, bankruptcy offers very limited protection to a homeowner who is upside down with his or her payments. The borrower can file a Chapter 7 which, depending on the state bankruptcy law, will most likely require [...]

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