Many people are starting to ask why they are unable to obtain a mortgage; it is not just those who have an adverse credit history who are being affected. So why are mortgage lenders so unwilling will to let people borrow their money?
Now I am not a mortgage adviser I actually help people by offering [...]
Tags: borrow money, interest rate reductions, mortgage, mortgage lenders, obtain a mortgage
Credit score formulas have recently changed affecting the qualification of some borrowers when financing a home purchase or refinacing a mortgage. Here are the main changes:
1. Ratio of Balance to Limit
The ratio of account balance to the amount of credit available appears to have more influence on the credit score formula. The less available credit [...]
Tags: credit score, credit score changes, mortgage, new home sales, refinance
Home is where the heart is. A home is a haven to anyone who lives in it and is their most valuable asset. Due to financial obligations, even if one has had to mortgage their house, the times today have changed and now your home loan could be refinanced with a much lower interest rate, [...]
Tags: bad_credit, finance, home_loan, mortgage, refinance
Credit is quickly becoming much harder to pay off than to get, in today’s economic climate. Now that things are much tighter with the country’s finances, it’s becoming even harder to get credit lately, and some people are finding it impossible to clear out their gigantic credit card balances. It has become common for people [...]
Tags: home equity, home equity loan, loan, mortgage