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Strategies to Help You Get a Home Mortgage
from: Deb St. George - HomelessInKingCounty.comYou’ve heard it’s tough getting a home mortgage today, and that’s true. However, the formula for getting approval isn’t too difficult to understand and there are strategies to help you eventually get a home mortgage eventually. You just have to follow the same guidelines that the mortgage brokers will use to determine your creditworthiness to decide whether it’s time to apply for a mortgage. Even if you are turned down, what you learn from the experience will eventually help you qualify later. And, as the credit market eases in panic, you may even find yourself in a great position to buy a low-priced, quality, home with just the right qualifications the lenders are looking for in a borrower.
Your Credit Reports
If you haven’t checked your credit reports in years, do so before you apply for a home mortgage. There are three major credit bureaus that you will need to ask for a copy of your credit report: Equifax, TransUnion, and Experian. You will need to ask for a copy from each of these credit bureaus, as the information is not common between all of them. Some may have entries that others don’t and the key is to clear up all your credit reports so that your credit is sparkling clean by the time you apply for a home mortgage.
Once you receive your credit reports, check out any inconsistencies on it that might be disputed and then dispute them. You won’t get your actual FICO score when you get a free credit report, for that you have to pay. This is actually well worth paying for as the new FICO score that lenders are looking for is anything above 720. The higher your score about this number, the more leverage you have for scoring a low interest rate and favorable home mortgage terms.
Seek Home Ownership Programs
If you aren’t able to qualify for a loan right now there are agencies set up to help low-income people qualify for a home by educating them on the entire process. You will want to check out if you are eligible to participate in any home mortgage and ownership classes to help you resolve issues way ahead of time. Places to find such programs include the Department of Housing and Urban Development and your state’s Housing Finance Agency. Also check out your local yellow pages, but be aware to check the credential of any program with the state agencies so that you don’t end up being defrauded. Other issues that can be discussed in these programs are your income level, your level of debt, and your reasons for buying a home.
Kansas Mortgage News
Mortgage holder lands Wilson Estates buildings - Kansas.com
Mortgage holder lands Wilson Estates buildings Kansas.com By Dan Voorhis Three foreclosed office buildings at Wilson Estates went to their mortgage-holder at a sheriff's sale on Wednesday. Representatives of BACM2006-5 Wichita Offices LLC took over ownership of what are known as the Bank of Kansas building, ... |
Bill giving KC authority to set up land bank awaits Nixon's signature - Kansas City Star
Bill giving KC authority to set up land bank awaits Nixon's signature Kansas City Star “ ... this is the biggest legislative victory for Kansas City so far this year,” state Rep. John Rizzo says. By JASON HANCOCK JEFFERSON CITY -- There are neighborhoods in Rep. Gail McCann Beatty's district where nearly every block has a dozen or more ... |
JPMorgan Allegedly Forecloses On Home Two Months After Its Purchase - Huffington Post
JPMorgan Allegedly Forecloses On Home Two Months After Its Purchase Huffington Post Allan Danforth of Kansas City claims that he bought a house in a short sale in September 2010 from homeowners whose mortgage was held by JPMorgan, KMBC reports. Then two months later and without warning, JPMorgan foreclosed on the home, changing the ... |
Wells Fargo Accused Of Offering Deceptive Mortgage Modifications - Huffington Post
Wells Fargo Accused Of Offering Deceptive Mortgage Modifications Huffington Post Vicki and Richard Sutcliffe, a couple in Kansas City, have filed a class action lawsuit against Wells Fargo, accusing the bank of offering temporary mortgage modifications with no intention of making them permanent, according to Courthouse News Service ... |
US housing starts rose to 717000 in April - Kansas.com
US housing starts rose to 717000 in April Kansas.com Construction workers work on different floors while building an apartment complex in Lawrence, Kansas, Wednesday, May 16, 2012. US builders started work on more homes and apartments last month and requested more permits to build single-family homes. |
Homeowners In 17 States Getting Shaft In Mortgage Settlements - Lez Get Real
Homeowners In 17 States Getting Shaft In Mortgage Settlements Lez Get Real Nine states are using part of the money for mortgage relief, and part of it for other programs. Indiana is using half of it to assist low-income households with energy bills. Idaho, Utah, Nebraska, Kansas, Wisconsin, North Carolina, Maine and West ... |
KC improves its ranking in financial distress index - Kansas City Star
KC improves its ranking in financial distress index Kansas City Star By JOHN NGIRACHU Kansas City area consumers have some financial distress, a report today says, but the area ranks 10th for “financial health” among 25 metropolitan areas in the first quarter of this year. On an index compiled by CredAbility, ... |