Credit

Exposing Some Common Homebuying Myths

Friendly advice can help perpetuate some of the most common homebuying myths -- especially when it comes to credit. Continue Reading »

Missed Mortgage Payments Are Back on the Rise

"If delinquencies reach an uncomfortable level, we may see lenders pull back again." Continue Reading »

Top Fed Official: Rapid Hikes in U.S. Interest Rates Unlikely

"It seems less likely that we will experience a growth spurt in the next couple of years that would engender concerns about rapid wage pressures and changes in inflation expectations." Continue Reading »

Homebuying Factors that Mortgage Calculators Miss

It's smart to take advantage of resources like mortgage calculators to help you make homebuying decisions, but that's only a start. Continue Reading »

Expect Home Prices to Keep Rising, but Not So Fast

Home prices reportedly have increased 12.2 percent in the past year, but that's a pace that's expected to slow down soon. Continue Reading »

What It Means to Have a Tax Lien

"It is extremely serious. You could lose your property." Continue Reading »

Saving for a Home: How Much Is Enough?

How much you need in savings to satisfy a mortgage lender can depend on many factors, including the type of mortgage and size of the loan to the property itself. Continue Reading »

Key Things to Know About Home Equity Loans

Lenders are now more confident about allowing homeowners to borrow against the value of their dwellings, but here are four other things you'll need to know about home equity loans before trying to get one. Continue Reading »

Mistakenly Declared Bankrupt? Here's What to Do

Imagine how much you'd freak out if your bank mistakenly told a credit reporting agency you were bankrupt. That's reportedly what happened to some Fifth-Third Bank customers. Continue Reading »

Can Mortgage Company Pressure Homeowner's Kin for Payment?

"There are no specific rules on what a creditor like a mortgage company (as opposed to a third-party debt collector) can do to collect a debt." Continue Reading »

Credit Report Error Sinks Short-Sellers Bids for a Mortgage

If you had a previous short sale, here's why you must pay very close attention to your credit report. Continue Reading »

VA Loans: 5 Common Hurdles, and How to Clear Them

Veterans Affairs mortgages are among the most flexible and forgiving home loans on the market. Here are ways to fulfill five of their most common requirements. Continue Reading »

How a Mortgage Lender Can Ruin Your Credit

How many inquiries on a credit report are too many when applying for a mortgage? Continue Reading »

Scoring a Mortgage Without 3 Credit Scores

Homebuyers are typically required to have three credit scores. Here's what to do if you don't. Continue Reading »

Mortgage Lenders Are Showing Some Give on Credit Scores

That average credit score for mortgage deals has dropped by more than 20 points, promising more access for homebuyers with lower ratings. Continue Reading »

Credit Score Sabotage: 5 Common Ways You Can Undermine Yourself

These are five of the most common reasons you could experience a dip in your credit score. Continue Reading »

Survey: Fewer Real Estate Agents See It as Good Time to Sell

Fewer real estate agents see it as a good time to sell, a new survey finds. Continue Reading »

Homebuying's First Step: Pre-Approval for a Mortgage Loan

Mortgage loan pre-approval will help you immensely when searching for a home, but don't think that getting pre-qualified is the same thing. Continue Reading »

New Finance Agency Chief Mel Watt Might Loosen Credit

"The first few months are likely to tell the market a lot about his tenure." Continue Reading »

Don't Let 'Old Sofa Syndrome' Sink Your Credit

New homeowners are particularly vulnerable, but so are those who have lived in the same place or with the same furniture for years and decide to replace "just one thing." Continue Reading »

How Homebuyers Can Get an Edge in Today's Sellers Market

Buyers must do their homework and be ready to pounce when they find the right house or condo. Continue Reading »

Realities of Living With a Roommate

Economic conditions are making having a roommate more attractive, but here's a hard look at some of the pros and cons of that arrangement. Continue Reading »

7 Ways New FHA Loan Limits Might Affect Homebuyers in 2014

If you're looking to buy a house but haven't yet, here's what to expect in 2014 when new limits on FHA home loans take effect. Continue Reading »

Federal Reserve Cuts Bond-Buying but Stresses Easy Policy

The path that the Fed must follow in dialing down the economic stimulus is rife with numerous risks, including the possibility of higher-than-targeted interest rates and a loss of investor confidence. Continue Reading »

After a Foreclosure: How to Own a Home Again

It can take time and some labor, but those who've been foreclosed on can own a home again. Continue Reading »

Crunching the Closing-Cost Numbers: How to Finesse Mortgage Fees

Here are some little-known ways to absorb the fees necessary in taking out a mortgage loan. Continue Reading »

How Cash Income Can Cost You When Applying for a Mortgage

Lenders now require an explanation for deposits that are not payroll checks or, say, income tax refunds. Continue Reading »

Tight Credit Leaving More Homebuyers on Sidelines, Survey Says

Tight credit has kept some financially qualified buyers from getting the loans they need, according to a new survey. Continue Reading »

Home Equity Loans Making a Comeback

Home equity loans are again an option for many homeowners. Here's a quick guide to picking the right one to finance a remodeling project. Continue Reading »

20% of Today's Mortgages Would Fail New Loan Standard, Study Says

The qualified mortgage rule that goes into effect in 2014 will require lenders "to make a reasonable, good faith determination of a consumer’s ability to repay." It also shields lenders from lawsuits. Continue Reading »

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