credit scores - The Mortgage Porter

Improving Your Credit Score

March 27, 2008 by Rhonda Porter 2 Comments

With every point of your credit score being more crucial than ever, I thought it would be a good time to share some tips on how to improve your credit scores beyond paying your bills on time. If you are considering obtaining a mortgage within the next 12 months, you should meet with your Mortgage Professional to help advise you on this process. Some steps in repairing your credit may actually temporarily lower your scores (such as paying off a collection). What steps you should take depends on how soon you plan on buying a home or refinancing.

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Filed Under: Credit & Financial Strategy Tagged With: credit, credit scores

Divorce, your mortgage and your credit

June 11, 2007 by Rhonda Porter 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…]

Filed Under: Credit & Financial Strategy Tagged With: credit history, credit scores, debts, divorce

That New Car Will Cost You

March 15, 2007 by Rhonda Porter 3 Comments

If you’re considering buying a home anytime in the near future, please think twice before purchasing your next car. I’ve had a couple different scenarios lately where the car payment has really impacted the home buyers. Don’t get me wrong, I love cars. Old and new alike. Here’s how it impacts your home purchasing power (based on a 6% mortgage interest rate amortized for 30 years):

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Filed Under: Credit & Financial Strategy, Home Buying Tagged With: credit scores, debt to income ratios

How Strong Are Your Legs?

February 25, 2007 by Rhonda Porter 1 Comment

A borrower in a mortgage transaction is kind of viewed like a chair with four legs. The legs on the chair provide strength to the base or seat of the chair. If one leg is shorter than the others, the chair is still strong, but may wobble a bit. Shorten two legs and the chair becomes less stable. Three week legs and the chair is just waiting to tip over on you.