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Does Your Credit Score Need Help? Top Five Ways to Boost Your Credit Score.

 

 

As a trusted mortgage professional, I encourage home buyers to get pre-qualified and to review their credit months before they start looking for a home.  But don’t be fooled by simply checking the credit score that you get for free through your credit card company or some other service!  These credit scores . . . → Read More: Does Your Credit Score Need Help? Top Five Ways to Boost Your Credit Score.

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?

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.

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!

ATTN Realtors: Your Company’s Marketing Service Agreement Puts YOU at Risk!

 

In 2015, I wrote and published an article warning Realtors against the dangers of entering into Marketing Services Agreements (MSA’s) with lenders, title companies, or other service providers covered by RESPA (The Real Estate Settlement Procedures Act).  An MSA is a relationship between a real estate broker or developer and a title company . . . → Read More: ATTN Realtors: Your Company’s Marketing Service Agreement Puts YOU at Risk!

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

CFPB Data Reveals NEARLY HALF of All Mortgage Applicants Rejected!

 

In 2011, The Wall Street Journal published an article (Tighter Lending Crimps Housing, June 25, 2011) reporting the nation’s 10 largest lenders denied 26.8% of their loan applications.  In New York State, the percentage of loans rejected was an astounding 34.8% of their loan applications!  Those were incredibly high numbers!

 

Yet according . . . → Read More: CFPB Data Reveals NEARLY HALF of All Mortgage Applicants Rejected!

Home Buyer Shortage Threatens Recovery

 

(As reported in the Wall Street Journal, Home Buyer Shortage Threatens Recovery, Thursday, 08/11/16.)

 

The housing market may have clawed its way back to a modest recovery; but there are a tremendous number of middle-class Millennials who seem destined to remain permanent renters.

Nationwide, homes have generally regained their values lost in . . . → Read More: Home Buyer Shortage Threatens Recovery

Changes to the STAR Rebate Program

 

The New York State School Tax Relief Program (more commonly known as the STAR Program), is a school tax rebate program offered in New York State aimed at reducing school district property taxes on the primary residences of New York residents.  The program is similar to (but is much less extensive than) the . . . → Read More: Changes to the STAR Rebate Program

Need More Proof Why You Should Work ONLY With a QUALIFIED Certified Mortgage Planning Specialist®? – Part 4

 

 

Scenario:        Borrower was casually looking for a new home and found the perfect house that was too good to pass up.  In order to make the deal, he agreed to purchase all-cash.  He could always obtain a mortgage later on after the closing.  Couldn’t he???

 

 

PROBLEM:  He closed on the . . . → Read More: Need More Proof Why You Should Work ONLY With a QUALIFIED Certified Mortgage Planning Specialist®? – Part 4