The Bank of Mom and Dad
We received a couple of calls in the past few days for potential home buyers looking to get qualified for a mortgage and both of them had questions about how Mom and Dad could help them qualify. Here are their situations:
Home Valuation Code of Conduct – Conventional Mortgages
Modifications to the way in which lenders and appraisers work together go into effect today, May 1, 2009. According to the Federal Housing Finance Agency (FHFA) the changes to the…
Pre-Qualification versus Pre-Approval
Several years ago most people didn't really care about the difference between a pre-qualification and a pre-approval because there were so many qualified buyers in the home buying market place…
What is a Good Credit Score?
You just want to know what a good credit score is. Probably because you are looking into obtaining a mortgage, or maybe an auto loan. Did you know credit scores…
Free Credit Report
Many people I talk to have heard about getting their FREE credit report at www.freecreditreport.com because they have heard the catchy commercials they have singing about getting their free report. …
Mortgage Don’ts
I recently received an email from a Lending a Hand reader requesting information on what to avoid throughout the mortgage process to ensure a smooth approval and closing. Instead of…
Mortgage and Divorce
Finances are a touchy subject when it comes to divorce, but I guess every subject can get touchy during a divorce. I want to make sure you are aware of…
FHA Short Sale Warning
Avoiding foreclosure is always a good option, and a short sale is one option many homeowners turn to when they are unable to continue to make payments and owe more…
Quickly Increase Credit Score
Many tools are available to mortgage lenders and one of the tools I often use in my business is a Credit Analyzer tool provided by Advantage Credit of Colorado. By…
Oh No…Credit Report Inquiries!
"I don't want you to pull credit because my credit score will drop". This is a phrase I hear all too often when I am working with potential home buyers. …