Reviewing your credit report and disputing information that is being wrongly reported about you is your right under the Fair Credit Reporting Act. Obtaining your credit report and making sure that it’s accurate is financially responsible and your duty to protect your credit. And the Federal Trade Commission provides you tips on how to dispute items on your credit report. Did you know that lenders may not accept a credit report where it indicates there is a disputed item? [Read more…]
Shallow Credit can leave you in the Deep End when Qualifying for a Mortgage
August 5, 2011 by 2 Comments
When in comes to qualifying for a mortgage, lenders are generally looking for borrowers who have established a history of paying their obligations on time. Ideally this would consist of four accounts that have been open and used for the last one to two years. When someone does not have active accounts, or when their accounts are all new, their credit history appears “shallow” to some lenders. [Read more…]
5 Ways to Derail Your Loan Approval
January 27, 2011 by 2 Comments
You’re getting ready to buy a home or refinance your home with your closing day around the corner when your mortgage originator contacts you to let you know there may be a problem. Some issues may not revealed until days or sometimes weeks into a transaction. Anytime documentation is provided to the mortgage company, it has the potential to raise more questions or require more documentation to satisfy underwriting guidelines. Here are five situations to be aware of that can cause headaches during the loan process.
Divorce, your mortgage and your credit
June 11, 2007 by 11 Comments
Whether you’re married or are a couple who own a home together and are now facing a separation, dissolving a partnership is never easy. Even if both parties are amicable and agree to the break up, it is a very emotional time. You may just be thinking about who gets to keep the house…or you just may want out and not even care about the property. Your mortgage and credit history is probably the last thing on your mind…however, you may want to consider protecting the credit that you’ve worked hard for. [Read more…]
Getting on Track to Buy Your First Home
April 2, 2007 by 2 Comments
Last fall, a Mom made an appointment with me to meet with her childre
n about buying a home. It was so cool. First off, she was very proud of her 18 and 20 year olds. Both were hard working individuals…being responsible young adults. Mom thought they should look at buying a house together instead of renting. It was a very interesting consultatation. I was happy to meet with this family to help make sure her young adults are on the right track of becoming home owners and mortgage payers.
