Posts from November 2015
Subscribe and receive email notifications of new blog posts.
RSS Feed
- 2026 | 5 Posts
- 2025 | 63 Posts
- 2024 | 75 Posts
- 2023 | 73 Posts
- 2022 | 72 Posts
- 2020 | 44 Posts
- 2019 | 27 Posts
- 2018 | 20 Posts
- 2017 | 29 Posts
- 2016 | 85 Posts
- 2015 | 85 Posts
- 2014 | 117 Posts
- 2013 | 50 Posts
- 2012 | 32 Posts
- 2011 | 35 Posts
- 2010 | 16 Posts
26
Turned Down for a Mortgage? Read This before Reapplying
Turned down for a mortgage? You're not alone. Many borrowers are finding it difficult to navigate lending requirements and reapply for a loan to buy a home, despite significant improvement in the housing market.
If your mortgage application was rejected, take heart. Mike Sullivan, director of education for Take Charge America, a national nonprofit credit and housing counseling agency, says prospective homebuyers can successfully reapply if they consider the following factors:
Cash Flow – One of the primary roadblocks to obtaining a mortgage is cash flow. At a minimum, borrowers need a 3-percent down payment and about 3% of the mortgage for closing costs. They must also take moving and ongoing maintenance costs into account, including utility deposits, appliances, a law...
19
Millennials: How to make your home ownership dreams a reality
(BPT) - Owning a home is part of the American Dream, yet standards on income, credit and debt are making it tougher to buy a home than it was 10 years ago. Even though requirements are relaxing, only three out of five borrowers get approved.
While stricter standards make it tougher for young families to qualify for a mortgage, millennials said they understand why these standards exist and think the tougher requirements won't stand in their way of buying a home.
In fact, millennials today are serious about doing what's required to get a mortgage. The research surveyed 1,000 millennials who don't own a home and found 35 percent plan to buy within five years. What's more, millenials are taking steps now to turn their dreams into a reality by getting their credit in order, paying down debt and saving fo...
18
4 ways to improve your home's curb appeal
(BPT) - You never get a second chance to make a first impression. This steadfast advice isn't just for interviews and first dates; it's also applicable to your home.
Whether it's a potential buyer or simply a visitor, within seconds of seeing your home's exterior, that first impression will be made. That's why experts from home builders to real estate agents sing the praises of stellar curb appeal.
If you're thinking of selling your home or just want to give it a facelift, here are ways you can increase your home's curb appeal:
Revamp the roof
Your roof is an important element of the exterior design aesthetic. If a dingy old roof is killing your curb appeal, a style and color upgrade can breathe new life into your home's facade.
The first step is to evaluate roofing options for sty...
13
10 Ways to Boost Creditworthiness
Using credit responsibly is an integral part of personal financial health. Not only is credit a key factor in securing loans for a home, vehicle or other major purchases, landlords often look at credit before approving new renters, as well.
"Improving and maintaining a positive credit history is important for people of all backgrounds, ages and life phases," says Mike Sullivan, director of education for Take Charge America, a national nonprofit credit counseling and debt management agency. "A few credit missteps can set back your financial goals significantly, even years in some cases."
To do just that, Sullivan recommends the following tips.
1. Limit the Number of Cards
People are bombarded with dazzling credit card offers, but applying for too many can negatively impact credit w...
5
FICO: Confused about Credit Scores? You're Not Alone
Whether for free or a fee, numerous websites offer credit scores. However, according to a recent FICO® report, the majority of credit score inquirers believe they're receiving their FICO Score, when, in fact, they're receiving a non-FICO score.
"Because other credit scores look similar to FICO Scores, consumers have no way of determining, through the credit score itself, whether or not it's a FICO Score," says Jim Wehmann, executive vice president for scores at FICO. "Credit scores are unlike other products; the consequences of not recognizing credit scores from different companies can be much more serious. The new research findings bring to light an important issue: if the majority of consumers are confused about these non-FICO credit scores being provided to them, then millions of Americans are lik...