Category Archives: Mortgages
Obtaining a FICO Score Above 720 More Important than Ever
With tightened mortgage restrictions, many need to push up their FICO score just to obtain a home. Researchers have recently analyzed interest rate quotes using the real estate website Zillow.com. Alarmingly, their findings show that those with credit scores of 620 or below are likely unable to obtain a mortgage at all in today’s market. [...]
Banks May Sue over Foreclosed Mortgages
Foreclosure in itself can cause emotional distress and hurt your credit, but these days, many individuals are finding that foreclosure is only the beginning of their financial and credit woes. Proceeding foreclosure may lie a series of other unfortunate events, now, commonly including getting hit with a lawsuit that could leave you liable for more [...]
Credit Repair Pro Can Help Prevent Foreclosure, Minimize Credit Damage
Missing a single mortgage payment will nick your credit score, but foreclosure can send it plummeting 100 points or more. A low credit score can make it virtually impossible to obtain credit or financing of any kind, from a car loan to a charge account at Kohls. But it gets even worse. A real estate foreclosure stays [...]
Home Foreclosures Decimate Credit Scores
Caught between a rock and a hard place, homeowners are being squeezed. The financial hardship of long-term unemployment and the toll it takes on credit scores, coupled with banks’ unwillingness to modify mortgage loans, is forcing many long-time American homeowners into foreclosure. With unemployment rates expected to remain high for at least the next year, possibly longer, [...]
How Will a Short Sale or a Foreclosure Affect my Credit?
As of this week, a recent study by the real estate data provider, CoreLogic, has revealed that about 11 million US homes are occupied by owners who owe 15% or more than the current appraisal value of their home. This amounts to an alarming 23% of American home owners. This tells us that an even larger [...]
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