Archive for the 'Credit' Category

How does a mortgage short sell work, and how will it effect my credit?

February 16 20102 Commented

Categorized Under: Credit

Kristi asked:
I’m tryin to sell my house in Michigan. We have had it up for sales for 2 months, and had only one showing. We can’t lower our asking price any lower then it currently is without having to come to closing with money. (that I don’t have) Since our realtor already [...]

Can you find me a US bank that can help me mortgage my property in France?

January 31 20102 Commented

Categorized Under: Credit

Ging asked:
I need to mortgage property in France to pay off 50% to my x.
Is there any US bank that I am able to mortgage a property in France?
Buying Property

French Property Mortgage

January 12 2010No Commented

Categorized Under: French Property Mortgages

Maximum duration of 25 years
Security only taken out on the property in France
Personal income and savings lays the foundation for the mortgage
All nationalities are welcome, but the % borrowed might be capped differently
Maximum percent is 85% of the purchasing, the norm is between 70% and 80%
Companies registrated outside France can not get a mortgage
Your debt [...]

How do mortgage companies determine which credit score to use?

November 17 20095 Commented

Categorized Under: Credit

Melissa T asked:
With the three credit scores being different, which do they use to determine you qualification for a mortgage? Or do they simply average all three scores. My husband has two scores at around 540 and his transunion is at 605. What are his chances?
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2nd mortgage Foreclosure: How long is the delay to put it on your credit?

September 22 20094 Commented

Categorized Under: Credit

hruss7 asked:
We paid off a 2nd mortgageforeclosure before it went through. We continued to pay on our first mortgage with no problem. The attempted forclosure was not on our credit report until we refinanced with a new mortgage company. Is this fair? It looks suspicious that it only appeared on our credit after we [...]

How does making your mortgage payment bi-weekly save you money?

July 17 20094 Commented

Categorized Under: Credit

honeybear asked:
I got a letter in the mail from the bank that says paying our mortgage payment bi-weekly instead of monthly could save us $40,000 to $100,000 in interest and reduce our mortgage term by 7 to 9 years without refinancing. How does this work?
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How much mortgage debt is there in the USA?

April 11 2009No Commented

Categorized Under: Credit

PrimeConcern asked:
Given all the worries about credit in this country, and subprime mortgages, I was curious as to what the entire amount of home mortgage debt is. There are about 110 million households in the country, with 70% of them owned residences. Let’s say there are 75 million owned homes. Not [...]