real estate category


What do mortgage rates look like for 2013?

December 26, 2012 | Posted by Blair Warner | No Comments

Special Report: Mortgage rate outlook

We like to offer you the best information and resources for your home-buying plans. Here is a good article on mortgage rate forecasts for next year from a mortgage partner Total Mortgage Services.

Click here for the article Mortgage Rates: Naughty or Nice?

If you are looking to buy a house in 2013, make sure your credit and debt house is in shape. If you need credit repair help, don’t hesitate to contact us.

Happy 2013

By Blair Warner


How Soon Can I Buy A Home After a Short Sale?

June 21, 2012 | Posted by Blair Warner | No Comments

Short SalesHow soon can I buy a home after a Short Sale? This is one of the many questions that buyers ask us before they decide to move forward with a short sale on their home. Many times it is one of the last obstacles to moving forward with a short sale. I heard of a family delaying their decision over a year which ultimately delayed resolving their problem and being ready to buy a new, more suitably priced home the same length of time. The sooner you can move beyond your fears and hesitations and get the information you need, the sooner you will be able and ready to buy again when your credit is repaired.

How soon can I buy a house after a short sale? As soon as 2 years! This will vary from borrower to borrower and from lender to lender but the avg recovery time to purchase again seems to be roughly 2 years after a short sale. Please consult with your mortgage expert to be sure.

How soon can I buy a house after a foreclosure? 3-7 years depending on circumstances and the original lender and loan. It is VERY IMPORTANT to speak with a specialist in the areas of real estate, mortgage lending and credit before making any decisions about a short sale or foreclosure. It might even be wise to consult your attorney if he is familiar with short sales.

In many cases (not all) buyer’s have worked with a credit repair organization to move the process along further and faster. This may or may not be the best option for you and your family. We would encourage you to get the information you need by taking advantage of our FREE consultation so you can make an informed decision. Additionally, after a short sale, take your time, save and prepare yourself for the right buying opportunity.

We would love the opportunity to chat with you about your unique situation and about your buying options after a short sale. Give us a call at 888-586-2261 or contact us through the form on this page of our website and we will be in touch.

I hope you found this helpful.

By Blair Warner

Mortgage Originators: FHA Delays Collection Payoff Rule

April 8, 2012 | Posted by Blair Warner | No Comments

  FHA Delays Implementation of Collection Payoff Rule

Looks like the public outcry has FHA rethinking their position. Note in bold–wording regarding seeking additional input.

Posted as an FHA notice late April 6:

In order to allow Mortgagees additional time to adapt their procedures to implement portions of the new guidance found in Mortgagee Letter 2012-03 (ML 2012-03), FHA is delaying the effective date of the following topics from ML 2012-03:

Handling of Disputed Accounts, Public Records FHA Total User Guide Chapter 2, and
Handbook 4155.1 4.C.2.e, Paying off Collections and Judgments.

The new effective date of this section is delayed until July 1, 2012. Prior to the effective date, FHA intends to seek additional input on this section and work to clarify guidance, as appropriate.

The Mortgagee Letter and FHA Total Scorecard User Guide will be updated and posted to HUD’s website on Monday April 9, 2012. Please Note: With this extension, any case numbers assigned prior to July 1, 2012 are subject to the previous guidance in effect for the subject topics.

From OriginationPro Blog Post April 7, 2012:

This means we have 3 more months to get more loans closed. It also means there is more time to come up with a workable plan for implementing the new rulings once they do come into effect.

Best to you!

By Blair Warner
I am on Google+

Personal Finance Tip: “think about tomorrow”

March 27, 2011 | Posted by Blair Warner | 1 Comment

Fleetwood Mac, in their 1976 song “Don’t Stop,” urged listeners not to stop “thinking about tomorrow” because  it would“soon be here.”

Fleetwood Mac’s top five albums alone have sold over 55 million copies. Needless to say, over the years, Mick Fleetwood made a ton of money. However, during all that time, he really didn’t “think about tomorrow.” As fast as the money came in, it went out. By 1984, he was bankrupt.

How does all this relate to you? If you’re like most people, you can probably spend money without thinking about it, but you can’t save money without thinking about it. For Mick Fleetwood, that certainly was the case. Saving isn’t a natural event. It must be planned.

Planning and budgeting require control. Financial planning involves looking into the future, facing financial reality and the sacrifices that it  brings, and taking action. Financial restraint isn’t as much fun as spending with reckless abandon, but it’s a lot more fun than winding up broke. The fact is that the rewards of taking financial control are worth the sacrifices. Just ask Mick Fleetwood- he has finally started “thinking about tomorrow.”

It is not directly related to credit repair, but managing your credit and debt well is a major part of planning for your future financial well being.

Hope it helped.

Blair Warner – Credit Expert

2011 – still a good time to buy a house! Prepare now!

January 2, 2011 | Posted by Blair Warner | 1 Comment

Well, another year is upon us. I remember last year everyone saying “Let’s Win in 2010!”. Did you win? I’ve been thinking of a slogan for 2011, and the only one I can come up with is “2011 is made in Heaven!”. If you can think of any share it with us.

2011 marks 4 years since the announcement of the end of sub-prime lending, and 3 years since the whole mortgage and real estate industry turned upside down. Many changes have taken place, and this year will see the last of them implemented, for the most part. What does that mean for us. First, it will mark the beginning of a semblance of stability, and people like stability. Most of us like predictability with a dash of adventure, not the other way around. I believe this feeling that things are becoming more stable and predictable again will trigger the move into trying new things again, which is what America needs at the moment.

Hopefully, one of the movements we will see as confidence increases is home buying–especially by first time home buyers. This is still a good time to buy!  Rates may go up a bit, but will still hover around 5%, which is a whole percent lower than I got in 2002 for my current house.

If you are thinking about buying a home this year, first get your credit and debt situation worked out. There is no use of looking at houses with your Realtor if you are not sure if you qualify for a home loan. Upgrade My Credit specializes in helping people improve their credit and lower their debt so that they can get a home loan. This can be your year! Give us a call.

Best to you,

Blair
www.upgrademycredit.com

Credit Reports, Credit Repair, credit counseling, Credit Restoration, Credit Cards, Credit Score, Debt Settlement, build credit, debt, foreclosure, identity theft, medical bills, free credit repair, bankruptcy, Credit Repair Fort Worth, Credit Repair Arlington, Credit Repair Dallas, Credit Repair Plano, Credit Repair North Richland Hills, Credit Repair Mansfield, Credit Repair Kennedale,