Tag Archives: mortgage
A New Generation of Credit Scores: Credit Undergoes A Makeover
It’s no secret that consumer credit behavior has changed—with higher risks of default, vast unemployment, and increased rate of homeowners walking away from their mortgage—and credit scores are changing with these rocky times. An emerging new generation of credit score models is the VantageScore 2.0 and FICO 8 Mortgage Score, revisions of the current VantageScore and FICO formulas that are modified and fine-tuned to better detect credit risk and improvement patterns. The purpose to better identify future default, score consumers more accurately, and help lenders choose and price the right customers. Let’s take a look at the changing face of credit.
Posted in Credit Tips Also tagged companies, credit, credit score, credit-report, facebook, fico, google-buzz, mortgage-score, utility, vantagescore Leave a comment
What The Recession Taught Us About The Real Estate Market
**Today’s guest post is contributed by LearnVest **. Many things have happened in the past two years: From the collapse of Lehman Brothers to the Greek bailout, complex forces have been at work. We’ve spoken to a lot of young people who are considering buying a first home, but there’s a great deal they don’t understand about why the real estate bubble burst in the first place
Posted in Credit Tips Also tagged a-mortgage-you, foreclosure, google-buzz, housing market, insider, lehman-brothers, post-on-google, reading, real estate speculation, real-estate, richard-bitner-, subprime lender Leave a comment
Save Money On Your Mortgage in 5 Minutes
**Welcome to 5 Minute Mondays here at Credit Karma Bootcamp: Your 31-Day Credit Health Plan.** Owning a home is arguably the biggest, most expensive purchase you will make in your lifetime. Monthly mortgage payments alone take the biggest chunk of change out of homeowners’ wallets, and for many, it’s more than they can shoulder. The on-going foreclosure fiasco is yet another blow to the housing market
Posted in Credit Tips Also tagged biggest, budgeting, credit score, creditors, foreclosure, google-buzz, homeowner, housing, mysavings, savings Leave a comment
Friday Scoop on Credit Karma & Housing Market News
Foreclosures came to a flying halt across the country due to questionable paperwork and accusations of false data at big banks Chase, Ally, and Bank of America. The foreclosure process is in jeopardy for lenders, but it also seems to be buying troubled homeowners some time to clear up erroneously-processed foreclosures–and possibly keep their home
Posted in Credit Tips Also tagged bank of america, credit-karma, finance, foreclosure, home, homes, house, lender, personal finance, review, underwater home Leave a comment
Inside the Mind of a Bankruptcy Lawyer – Should I File and if so, Why Should I Choose Your Firm?
There are dozens of lawyers out there who offer to prepare and file bankruptcy cases. Some work in high volume "bankruptcy mill" firms that compete on price while others compete on experience, knowledge and service. Usually the cost differential is a few hundred dollars, but when you are considering bankruptcy, every dollar counts – so why would you want a lawyer like me as opposed to a firm that would offer to represent you for a lower price? I could offer a glib answer like "if you needed brain surgery, would you look for the cheapest surgeon on the one with the most experience and industry recognition" but that does not really answer the question. Perhaps it would be helpful if you could look over my shoulder as I analyze a real life situation that came before me recently. Earlier this month an email arrived from a couple who wanted information about bankruptcy. The wife wrote that she was a stay at home mom raising 2 children and that her husband lost his job about a year ago, and recently started back to work at a lower paying job. Their current household income is just under $50,000. They own a house that is now worth less than what they paid for it – the house is worth about $200,000 – the first mortgage is $210,000 and the second mortgage is $35,000. They own one older car outright and are financing a mini-van. They have also incurred around $25,000 of credit card debt – most of which was used trying to keep the mortgage current.
Posted in Bankruptcy Also tagged credit, exceeds, georgia, georgia bankruptcy, lenders, median, pursue Leave a comment
Can You Rely on a Verbal Promise that Your Foreclosure Will be Delayed?
Last month, I met several times with a potential Chapter 13 client who was facing a mortgage foreclosure. Over the course of the past few months he has been juggling his creditors and bills trying to stay afloat and during that time he fell behind to his mortgage company by more than four months, and found himself in the foreclosure process.
Posted in Bankruptcy Also tagged client, garcia, garcia v. world savings, lender, pre foreclosure, process, sale, scheduled, surprisingly, the, the-foreclosure, world Leave a comment
House Cleaning And Staging: 5 Tricks To Sell A House Fast