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Getting through the mortgage process can be tricky these days, so being as prepared as possible is vital. The biggest mistake many first-time homebuyers make is not getting their financial house in order before they start looking for a home. Here are
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Many people are finding themselves in a tough situation after a job loss or salary cut and have ended up short selling their home or worse, going through a foreclosure. There is hope after a distress sale, people can buy a home again. Here is a general
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If you are trying to improve your credit score, or even keep it in good standing, don't fall pray to some common myths that are batted about: 1st Myth: Closing an old account that you don’t use anymore will boost your score . While its true
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You Can Keep Your Good Credit During This Recession - If You Know The Score RISMEDIA, August 21, 2010--People are having to make tough financial choices today, but many don't have to wreck their credit scores if they know how the system works, according
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Sometimes bad things happen that affect our credit score. For all kinds of reasons, they just do. I've written several posts about credit scores and credit repair . If you feel overwhelmed or ill-prepaired to tackle credit repair issues on your own,
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The credit reporting agencies keep information on millions of people. Lenders making credit decisions buy credit reports on their applicants from the credit reporting agencies. Your report details your credit history as it has been reported by lenders
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My friend, Kathy Daubert, from Wells Fargo Home Mortgage, will be posting a series of articles explaining Credit Scores. They'll be linked to each other and placed in the "credit score " category. I'm confident they'll be very helpful.
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Note: Lending Guidelines are always changing. For updated posts on the subject Come back often. Foreclosure or Deed-in-Lieu of Foreclosure A seller who wants to buy another home after foreclosure will end up waiting about 24 to 72 months before a lender
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There are many features of FHA loans that are great for today's Frederick home buyers. Here are the highlights: Downpayment: 3.5% Common Sense Underwriting: Although credit scores are a part of the consideration on an FHA loan, the underwriting takes
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Credit scores change all the time to reflect your credit patterns. Any time you check your credit score, it is like a snapshot of your score at one given moment in time, when actually your score goes up or down, based on how you manage your credit. Most
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If you are considering a home purchase in the near future, you should take a look at your credit score 6 months prior to taking your first steps in the homebuying process. You can check your score for free at the three credit reporting bureaus: 1. Equifax
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With the tightening of credit over the last 2 years, its good to know just what banks consider a good prospect for a home loan. Now more than ever, banks are looking at criteria that indicates the homeowner is most likely to pay their mortgage on time,
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