Tags |
|
|
Links |
|
|
Will You Add? - In Today's Mortgage Market, Good Credit Is King
We love wholesalers and investment companies alike and we are designed to sell your homes. Our company is based off working with investors that want to move their homes as quickly and efficiently as possible while using the most cost effective marketing available.There is NO charge for advertising your homes on our site. Using our network of realtors, investors and mortgage brokers allows your listings to have maximu
Quite a change, huh? Truly, good credit is king & an absolute must for any type of real estate transaction in today’s market. Your credit will mean the difference between having to come to the table with cash down, between a 5.875% rate an 8.5% rate, between being able to purchase a 2nd home or not, between whether or not you can refinance to take cash out for home improvements, between renting and purchasing.
Before proceeding with any real estate transaction, take a close look at your
Membership Sites“Do I really need to create an e-book for sale? Can’t I do some other things?”Absolutely yes you can do many other things, you don’t need to necessarily create an e-book for sale. There are too many things out there you can do on the Internet! In fact, there are too much to list we’re embarrassed we can’t tell you everything.Let’s have some examples:You may be someone who’s very goo
The year - 2005,
The industry – Real Estate,
The mood – Light, Airy, Jovial, Confidence abounding…
Remember when practically anyone with a pulse could own a home for no money down? Or, refinance and take cash out to take a frivolous trip to Jamaica?
Yep, those sure were the good ol’ days. When rates were at historic lows & appreciation was through the roof. Home values soared seemingly never-ending. Heck, we could all retire on the equity built in our homes (before we took our trip to Jamaica of course.)!
Some of us refinanced into short term “band-aid” loans such as the 2 year fixed 28 year adjustable. We had hoped that we would improve our credit and that appreciation would allow us to refinance at the end of the 2 year period. Others utilized the loose air of market confidence and low rates to become investors and begin “flipping” houses.
Then came reality – the market cooled, home values dropped, rates rose and in many areas depreciation ran as rampant as the plague in medieval Europe. Those “band-aid” adjustable loans came to term and became unaffordable. Investors could no longer sell their undervalued and over priced “fixed-up” homes.
Mortgage defaults rose like a Las Vegas thermometer in mid-summer while foreclosure numbers topped all time highs. For many of us, this has been a truly sobering reality.
Talk about sobering reality, did you know that 82 mortgage lenders have gone bankrupt- “imploded” because of the market cool down?? (http://www.ml-implode.com) Even Big names such as New Century & Fremont General were not immune to the major turnaround in the market.
But truly, what does this all mean for us? Who can now qualify for a mortgage? What are the credit guidelines? How much money should one ‘bring to the table’? These are all excellent questions. The most pertinent of the bunch is ‘what are the credit guidelines’. To put it plainly, you have to have much better credit!
But how much better you ask?
Consider this: In 2005-2006, it was not uncommon for a home buyer to purchase a primary residence home with no money down on a STATED income with verified assets with a 580 FICO score.
WOW...what a dream those days were!
Today’s situation, June 2007, same scenario: Minimum FICO = 660!
Quite a change, huh? Truly, good credit is king & an absolute must for any type of real estate transaction in today’s market. Your credit will mean the difference between having to come to the table with cash down, between a 5.875% rate an 8.5% rate, between being able to purchase a 2nd home or not, between whether or not you can refinance to take cash out for home improvements, between renting and purchasing.
Before proceeding with any real estate transaction, take a close look at your
The mechanism of buying and selling is quite easy. It is as easy as pressing a button in front of your computer screen. The question of when investors should buy and sell warrant a more detailed analysis.When to sell: Ideally, we should sell when a stock reaches its fair value. There are 9 other reasons to sell but I won't cover it here. So, what is a stock's fair value? I have covered this plenty of time. But,
Then came reality – the market cooled, home values dropped, rates rose and in many areas depreciation ran as rampant as the plague in medieval Europe. Those “band-aid” adjustable loans came to term and became unaffordable. Investors could no longer sell their undervalued and over priced “fixed-up” homes.
Mortgage defaults rose like a Las Vegas thermometer in mid-summer while foreclosure numbers topped all time highs. For many of us, this has been a truly sobering reality.
Talk about sobering reality, did you know that 82 mortgage lenders have gone bankrupt- “imploded” because of the market cool down?? (http://www.ml-implode.com) Even Big names such as New Century & Fremont General were not immune to the major turnaround in the market.
But truly, what does this all mean for us? Who can now qualify for a mortgage? What are the credit guidelines? How much money should one ‘bring to the table’? These are all excellent questions. The most pertinent of the bunch is ‘what are the credit guidelines’. To put it plainly, you have to have much better credit!
But how much better you ask?
Consider this: In 2005-2006, it was not uncommon for a home buyer to purchase a primary residence home with no money down on a STATED income with verified assets with a 580 FICO score.
WOW...what a dream those days were!
Today’s situation, June 2007, same scenario: Minimum FICO = 660!
Quite a change, huh? Truly, good credit is king & an absolute must for any type of real estate transaction in today’s market. Your credit will mean the difference between having to come to the table with cash down, between a 5.875% rate an 8.5% rate, between being able to purchase a 2nd home or not, between whether or not you can refinance to take cash out for home improvements, between renting and purchasing.
Before proceeding with any real estate transaction, take a close look at your
Providing security against email related threats has become a burden for most IT professionals in 2006. According to a recent study by Postini, spam and email viruses now make up to 80% of all emails sent out as compared to 50% in 2000. As a result, IT professionals now face a tougher challenge in providing network security for this amount of spam. IT professionals also have the disadvantage of defending against new forms o
Mortgage defaults rose like a Las Vegas thermometer in mid-summer while foreclosure numbers topped all time highs. For many of us, this has been a truly sobering reality.
Talk about sobering reality, did you know that 82 mortgage lenders have gone bankrupt- “imploded” because of the market cool down?? (http://www.ml-implode.com) Even Big names such as New Century & Fremont General were not immune to the major turnaround in the market.
But truly, what does this all mean for us? Who can now qualify for a mortgage? What are the credit guidelines? How much money should one ‘bring to the table’? These are all excellent questions. The most pertinent of the bunch is ‘what are the credit guidelines’. To put it plainly, you have to have much better credit!
But how much better you ask?
Consider this: In 2005-2006, it was not uncommon for a home buyer to purchase a primary residence home with no money down on a STATED income with verified assets with a 580 FICO score.
WOW...what a dream those days were!
Today’s situation, June 2007, same scenario: Minimum FICO = 660!
Quite a change, huh? Truly, good credit is king & an absolute must for any type of real estate transaction in today’s market. Your credit will mean the difference between having to come to the table with cash down, between a 5.875% rate an 8.5% rate, between being able to purchase a 2nd home or not, between whether or not you can refinance to take cash out for home improvements, between renting and purchasing.
Before proceeding with any real estate transaction, take a close look at your
What makes a company successful over the long, long term? What characterizes the service relationship between companies and customers who do business together for decades, even generations?How can your company stay close to your customers even as times change, technologies change and expectations continually rise?What can you do to ensure your company’s future offers are relevant and valuable in the market?<
But how much better you ask?
Consider this: In 2005-2006, it was not uncommon for a home buyer to purchase a primary residence home with no money down on a STATED income with verified assets with a 580 FICO score.
WOW...what a dream those days were!
Today’s situation, June 2007, same scenario: Minimum FICO = 660!
Quite a change, huh? Truly, good credit is king & an absolute must for any type of real estate transaction in today’s market. Your credit will mean the difference between having to come to the table with cash down, between a 5.875% rate an 8.5% rate, between being able to purchase a 2nd home or not, between whether or not you can refinance to take cash out for home improvements, between renting and purchasing.
Before proceeding with any real estate transaction, take a close look at your
If Brand is identity, Package is the wrapper identity is presented in. A strong Brand really helps small businesses pull new customers into the store. Satisfied customers spread the word about your business. We call this “Waving your Brand Banner”.But a freshly minted referral customer is a fragile being. Even if the new customer visits your store on the basis of a good word from a trusted friend, that first-timer will
Quite a change, huh? Truly, good credit is king & an absolute must for any type of real estate transaction in today’s market. Your credit will mean the difference between having to come to the table with cash down, between a 5.875% rate an 8.5% rate, between being able to purchase a 2nd home or not, between whether or not you can refinance to take cash out for home improvements, between renting and purchasing.
Before proceeding with any real estate transaction, take a close look at your credit and score. Examine it and ask yourself: Am I carrying high balances? Do I owe less than ? the amount of my credit limits (Big Credit Booster)? Do I pay before or after the 15th of the month? Do I have lines of credit that aren’t mine? Where can I find the resources to improve my credit? (And many, many more questions….)
These questions and the remedies to them may mean the difference between a $1000/month payment and $2000/month payment! Educate yourself and don’t become a victim of unaffordable mortgage payments due to mistreated or untreated credit.
HTTP = HTML link (for blogs, profiles,phorums):
<a href="http://www.atriclecheck.com/article/141290/atriclecheck-In-Todays-Mortgage-Market-Good-Credit-Is-King.html">In Today's Mortgage Market, Good Credit Is King</a>
BB link (for phorums):
[url=http://www.atriclecheck.com/article/141290/atriclecheck-In-Todays-Mortgage-Market-Good-Credit-Is-King.html]In Today's Mortgage Market, Good Credit Is King[/url]
Related Articles:
Sacks of Money to Burn on Marketing and Advertising
Selling Effortlessly by Numbers
How to Get Approved - Bad Credit Loan
Bookmark it:
|