We recently had a question from someone considering a short sale for their house.   This person is not eligible for a loan modification and their lender recommended a short sale.  When they put the house on the market, they are considering making just partial payments while they try to sell it.
The question is: DOES MAKING A [...]

Yeah!  You found a house you want to purchase and your credit scores met the mortgage company’s requirements.  When you are in the home buying process and have started the paperwork with your lender, you need to at least keep your credit rating where it was when you qualified for the loan.  These recommendations, compiled [...]

The Arizona legislature has passed a bill, SB 1271, signed into law by Governor Brewer on July 10th, that is scheduled to take effect September 30, 2009. 
This bill was intended to protect small community banks from consumers buying speculative new homes that now cannot be sold for a profit.  However, it could have an impact on [...]

When you apply for a loan of any type and the company checks your credit to determine approval for that loan, you will get an Inquiry on your credit report.   When the consumer initiates the application it is considered a Hard Inquiry and will be counted in the New Credit part your score. 
A Soft Inquiry will [...]

The lending industry has been through huge changes and continues to evolve.  It seems that the media gets a headline and promotes mortgage news even before the guidelines are put into place.  It can be confusing and overwhelming.   
To shed some light on current lending guidelines and the $8000 tax credit, we spoke with Kathryn Welch, [...]

What will a loan modification do to credit scores?  As one of the latest trends in the housing and mortgage industry continues to unfold, we are fielding many questions about it. 
WHAT IS A LOAN MODIFICATION? According to HUD (Housing and Urban Development) a Loan Modification is a permanent change in one or more of the [...]