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What Do Homebuyers Think of the Mortgage Industry?

 

A recent survey has uncovered some disturbing – and often inaccurate – opinions homebuyers have about the mortgage industry.

Value Insured, a Dallas-based insurance company, surveyed 1,019 homebuyers.  (While some interesting statistics emerged, I should note these statistics reflect the exact opposite of other much larger consumer surveys.  See “Even in the Digital . . . → Read More: What Do Homebuyers Think of the Mortgage Industry?

ATTN: Realtors! Protect Your Life! Ensure Your Buyers Are ACCURATELY Pre-Qualified!

 

 

This article’s title may be a bit flippant, but my message is quite serious!  Please read on…

In September 2014, Beverly Carter, an Arkansas realtor was kidnapped and murdered by a couple posing as home buyers.  Her kidnapers claimed they targeted Ms. Carter because she was successful (read “wealthy”) and because they . . . → Read More: ATTN: Realtors! Protect Your Life! Ensure Your Buyers Are ACCURATELY Pre-Qualified!

Don’t Be Fooled By Deceptive Press Coverage & Propaganda. The CFPB Is In Need of A Shakeup.

 

In recent weeks, there’s been considerable criticism from major news outlets over President Trump’s appointment of Mick Mulvaney as the new Director of the Consumer Financial Protection Bureau (CFPB).  After all, as Congressman from South Carolina and later OMB Director, Mulvaney was a strong critic of the CFPB since the agency has acted . . . → Read More: Don’t Be Fooled By Deceptive Press Coverage & Propaganda. The CFPB Is In Need of A Shakeup.

FICO or FAKO?? The Credit Score You’ve Obtained May Not Be So.

 

This article inspired and edited from a recently published article by Alan Hayon, Certified FICO Professional and President of Credit Advisory Group (CreditAdvisoryGroup.com) in Garden City, New York.

 

Many consumers preparing to purchase a home obtain credit scores from websites like Credit Karma or Credit.com to avoid surprises during the application process. . . . → Read More: FICO or FAKO?? The Credit Score You’ve Obtained May Not Be So.

The Equifax Security Breach – What You Need To Know

 

On July 29, 2017, Equifax, one of the three major US credit reporting agencies, discovered a major data breach of their servers.  This cyber hack impacted an estimated 143 million US consumers.  That’s roughly half of all American adults!  The information accessed by hackers includes names, addresses, social security numbers, birth dates, and . . . → Read More: The Equifax Security Breach – What You Need To Know

Changes to Credit Reporting May Help Your Scores!

 

Consumers who’ve had their credit scores hammered by tax liens, judgments, and inaccuracies, may now receive some relief.

 

From an agreement made between the three major credit reporting agencies (Trans Union, Equifax, and Experian, collectively referred to as “the CRA’s”) and 31 state attorneys general, the CRA’s launched the National Consumer Assistance . . . → Read More: Changes to Credit Reporting May Help Your Scores!

Dispelling Lending Myths

  Obstacles to home-ownership have reached such mythical proportions that many prospective home buyers believe it’s futile to even try!  Fortunately, many of these perceived obstacles have little or no basis in reality.

After hearing many of these misconceptions from home buyers and real estate professionals alike, let’s take a moment to dispel these . . . → Read More: Dispelling Lending Myths

When is the Best Time to Buy a Home?

 

With twenty-five years’ in the mortgage industry, I’ve pretty much seen it all.  I’ve seen buyer’s markets and seller’s markets.  I’ve seen rates way up and rates at all-time lows.  I’ve seen home values appreciate out of sight and home values spiral back to earth.  Through every market, prospective home buyers have asked, . . . → Read More: When is the Best Time to Buy a Home?

It Doesn’t Take A Rocket To Get To The Top.

 

I had an idea for a new business.  It’s a website where sick patients can go to diagnose their ailment.  Simply type in your symptoms and the website will diagnose your disease, prescribe medication, and ship it to your door within 24 hours.  No need to speak to a doctor or a pharmacist.  . . . → Read More: It Doesn’t Take A Rocket To Get To The Top.

Coming HELOC Resets Could Have Dire Consequences for Homeowners

 

The majority of Home Equity Lines of Credit (HELOC) in America were originated at the peak of the home equity boom between 2004 and 2008.  Since most HELOC’s have a ten-year draw period, there’s concern over the potential wave of defaults coming when the estimated $190 billion in HELOC loans reset between 2017 . . . → Read More: Coming HELOC Resets Could Have Dire Consequences for Homeowners