Welcome to Mortgage Guide
Mortgage Second Article
. For a permanent link to this article, or to bookmark it for further reading, click here.
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.
Mortgage Second News
FDIC Sues on Mortgage-Backed Securities Sold to Failed Banks - San Francisco Chronicle
FDIC Sues on Mortgage-Backed Securities Sold to Failed Banks San Francisco Chronicle (Updates with second lawsuit in third paragraph.) May 21 (Bloomberg) -- The Federal Deposit Insurance Corp. sued a group of banks including JPMorgan Chase & Co., Citigroup Inc., Bank of America Securities and Deutsche Bank AG in two actions over ... |
Kroll Sees Supplanting S&P in Rating Commercial Mortgage Bonds - Bloomberg
Kroll Sees Supplanting S&P in Rating Commercial Mortgage Bonds Bloomberg Jules Kroll says his two-year-old credit ratings firm is poised to surpass Standard & Poor's providing grades on bonds backed by commercial mortgages, capitalizing on a stumble last year by his larger rival. Kroll Bond Ratings Inc. has focused on ... |
QE impact on mortgages muted by market forces: Fed - MarketWatch
QE impact on mortgages muted by market forces: Fed MarketWatch By Greg Robb, MarketWatch WASHINGTON (MarketWatch) — A lack of competition in the mortgage market limited the impact from the Federal Reserve's three rounds of unprecedented bond buying, according to a research report published Monday by the San ... Fed Asset Buying and Private Borrowing Rates |
3 Consecutive Quarters of Mortgage Employment Growth - MarketWatch (press release)
3 Consecutive Quarters of Mortgage Employment Growth MarketWatch (press release) Mortgage employment swung from a first-quarter 2011 net loss of more than 1800 jobs. The statistics were determined based on activity tracked by Mortgage Daily. First-quarter layoffs jumped by nearly two thirds from the second quarter and were heavily ... |
Radian shareholder seeks more information to help sale - Reuters
Radian shareholder seeks more information to help sale Reuters Earlier this month, Radian posted its second quarterly loss in a row, and said its main mortgage insurance unit would likely breach risk levels in the second half of the year. Radian and its rivals MGIC Investment Corp (MTG.N) and Genworth Inc (GNW. |
BANKING: Citi brings team of mortgage experts to Riverside - Press-Enterprise
BANKING: Citi brings team of mortgage experts to Riverside Press-Enterprise This is the second year for the event. It began last year as a way to give CitiMortgage customers one-on-one help from the company's mortgage experts, taking an in-depth look at their financial situation to help them figure out what sort of loan ... |
HUD Secretary Shaun Donovan Announces to National People's Action New Director ... - eNews Park Forest
HUD Secretary Shaun Donovan Announces to National People's Action New Director ... eNews Park Forest While addressing the 40 th annual National People's Action's conference, HUD Secretary Shaun Donovan said today that a director has been appointed to the newly-created Mortgage Fraud Task Force. Watch 7 second clip: ... |