Collection accounts need to be settled (paid) in order to qualify for mortgage financing.
March 26, 2010 – 10:59 am
I have seen folks with fantastic credit have their credit scores drop dramatically because in the months before they met me for the mortgage prequalification they paid off and closed their credit card accounts
January 21, 2010 – 1:48 pm
Multiple mortgage inquiries do not affect a credit score.
Buy your first home—a New England triple-decker—and use the FHA 203k Rehabilitation Loan to do so. Your purchase money and repair money can be had in a single, convenient, 30year Fixed Rate Loan.
People don’t want to get in over their heads with a mortgage payment they can’t afford.
April 21, 2009 – 11:13 pm
No credit means just that: here’s a person who has no established credit history.
My Mom is harrassing me to buy a house. She keeps telling me I have to get this $8,000 stimulus refund and I have to close this year!
Check out my Re-Posted article on making offers and you, too, can get the home you want at the price you want to pay.
August 31, 2008 – 8:51 am
I don’t think my radar is any more tweaked than usual, but I did pick up quite a few quotes in today’s NYTimes.com which point to the American Dream of homeownership and the “intangible benefits” of same.
I have long said that you simply cannot put a number to quantify the intangible benefits of homeownership. [...]
August 28, 2008 – 8:42 am
I did it again last night: I wrote a loan application to save a purchase where the Buyers had gone to two other mortgage companies. Those companies couldn’t find a way to approve their loan request.
The mortgage biz ain’t rocket science. Why is it so difficult for mortgage people to get their act [...]
