Credit

FHA Loans: Credit Scores Loom Large as New Rules Take Effect

While lenders have recently been loosening rules on credit, new requirements for Federal Housing Administration-approved mortgages go the other way. Continue Reading »

Should an Investor Bankroll Your Dream Home?

Homebuyers should tread carefully when it comes to financing structures that insidiously encourage over-borrowing. Continue Reading »

Average U.S. 30-Year Mortgage Rate at 4.23%

Average U.S. rates on fixed mortgages stay near their lowest levels in three months. Continue Reading »

How Federal Shutdown Could Complicate Homebuying -- and Worse

The government shutdown may end up sending many homebuyers into a mortgage limbo that could jeopardize the sale or purchase homes. But for some house-hunters, it might create even more of an advantage. Continue Reading »

Home Loans: Finding the Best Fit in a Relaxed Mortgage Market

Credit score requirements have loosened in recent months, a sign that at least some mortgage lenders are starting to take a softer approach after years of tight lending. Of course some are easier to get than others. Continue Reading »

Ways to Manage Credit When Seeking a Mortgage

Credit card debt is a double-edged sword when it comes time to making high-ticket purchase like buying a home. Here's how to manage it when seeking a mortgage. Continue Reading »

Reverse Mortgage: Why It Soon Might Be Tougher to Get

Principal limits could be about 12 percent to 15 percent lower starting Oct. 1, and an applicant's credit history may impact his or her ability to get a reverse mortgage. Continue Reading »

Cash-Out Refinancing: When and How to Do It Right

A recent rule change allows even new homeowners to immediately do a cash-out refinance to purchase other real estate, do home improvements or pay off debt. Here's how to successfully seal the deal. Continue Reading »

Why It's Wise to Reduce Debts Before Applying for Mortgage

The amount of debt you have effectively chips away at the amount of home that you can afford -- and that's what the loan is truly made against. So before you try to get a mortgage, you might want make sure you pay down your debt the right way. Continue Reading »

New Group Promises to Lobby for Homeowners' Rights

America's Homeowner Alliance hopes to speak for the 75 million homeowners in the U.S., with a plan to save them money that includes a rewards program. Continue Reading »

How to Prepare for Rising Interest Rates

"We do anticipate rates going up, but how far and how fast that's going to happen is an open question." Continue Reading »

How Netflix Account Can Help You Qualify for a Mortgage

Consumers with a positive but thin credit profile can create creditworthiness in ways they might not suspect. Continue Reading »

The 5 Best States to Buy a Home -- If You're a Banker

Where are the "healthiest" borrowers in the nation? And what should be the easiest place in the country for residents to get a new home mortgage? Continue Reading »

The Credit Scores That Will Cost You When You Apply for a Mortgage

Score too low on a credit report and it can drive up the cost of a mortgage. Here's how to find it, then figure out how to stay out of the priciest neighborhood -- in terms of landing a loan. Continue Reading »

Echoes of Housing Boom in 'Real Housewife' Teresa Giudice's Fraud Case

The alleged mortgage fraud by Teresa Giudice and her husband happened when lenders were more lenient throughout the loan process. Continue Reading »

It's Still Possible to Qualify for a Mortgage Despite Bad Credit

A mortgage company's definition of bad credit might not be what a consumer considers to be bad credit, and here's why you might still qualify for a home loan if you have a low rating. Continue Reading »

Renters Now Able to Afford More, Report Says

Even though a CoreLogic report shows that there are slightly fewer renters in the market in 2013, they are able to pay more. Continue Reading »

Getting a Mortgage After a Divorce: Difficult, Not Impossible

Divorce makes it even more difficult to get a mortgage these days, but many coming out of a marriage are still able to. It helps to have a plan. Continue Reading »

Should You Put a Real Estate Investment on Your Credit Card?

Buying an investment property, like buying any home, is a big purchase. If you're wondering if you can put it on your credit card, there's one rule. Continue Reading »

What to Do If Foreclosure Is Killing Your Credit

Foreclosures can do a number on your credit report, and here's what you can expect when that happens. Continue Reading »

Real Estate 2012: The Year the Housing Market Turned the Corner

2012 will probably be considered the year that a sinking housing market finally hit bottom and began to rise again. Home prices, home sales and new home construction all substantially increased amid shrinking inventory and record-low mortgage rates. Adding to the drama (and perhaps aiding the recovery): Lenders... Continue Reading »

Reverse Mortgages Pose Big Risks for Seniors, Warn Attorneys and U.S. Officials

By Jim Avila and Serena Marshall Linda and Jim McMahan said that they could not believe their luck in 1993 when they found their dream house. "We loved it," she said. "It wasn't a huge house, but it was a nice size. ... It had the big trees in the yard. And we have deer in the yard every day, and wild... Continue Reading »

After Foreclosure, 3 Steps to Getting Back on the Road to Buying

By Samantha Debianchi Finding your dream home is truly a special and momentous occasion, but sometimes the honeymoon doesn't last. Just as money is the root of many divorces, it is also the root of many foreclosures. But once the long and tedious process is finalized, how do you get back in the game and find a... Continue Reading »

Fixed Mortgage Rates Hit New Record Lows

Low mortgage rates have helped boost sales of homes all year, as well as spur refinancing. Continue Reading »

Credit Scores of Potential Homebuyers Are Improving

There have been numerous improvements in the economy and the housing market, specifically in the last few years, and that is reflected in the type of credit ratings carried by potential homebuyers nationwide through the end of last year. With the slowly improving economy and jobs numbers, many consumers are now... Continue Reading »

How Refinancing a Mortgage Can Affect Your Credit

It hardly seems possible that mortgage rates can get much lower, but they have. Homeowners are taking notice and refinancing their mortgages. But if you're afraid that refinancing (again) will hurt your credit score, relax. Continue Reading »

Ways a Mortgage Can Help or Hurt Your Credit

Adding a mortgage to your credit report will usually drop your score, but it doesn't have to stay that way. Continue Reading »

Facebook CEO Mark Zuckerberg Refinances Mortgage Loan Down to 1%

Like millions of Americans have done in recent years, the Facebook founder decided to refinance his mortgage. But the average homeowner probably shouldn't try what he did to get it a rock-bottom interest rate. Continue Reading »

Fed Report: Housing Meltdown Hit Middle Class Hardest

A report recently released by the Federal Reserve offers new figures that capture the full scope of the housing bust's devastating impact on household wealth. Median family net worth plunged by close to 40 percent during the economic crisis, the report found. The study shows that the real estate market's... Continue Reading »

6 Ways to Get a Great Mortgage Deal

By Ismat Sarah Mangla, Money Magazine Finding an affordable house is no longer a problem but qualifying for a mortgage can be. Here are six tips to getting a mortgage and a good rate. 1. Put your credit on ice. The higher your credit score, the lower your rate: The best rates go to those with a 760 or more,... Continue Reading »

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