Get $500 In The Bank Now!
You’re trying to get in position to buy a home. You may have huge outstanding debts or serious credit blemishes on your record. Maybe collectors are calling you and you’re afraid to answer the phone, and it seems every time you get a paycheck your immediate bills already add up to MORE than your take home pay. If this sounds like you, or maybe your situation isn’t nearly this severe but things are still ...Reserve Requirements for Mortgages
Here’s a fancy mortgage loan term that you need to have an understanding of as you move towards buying a home and getting your financing approved. “Reserve Requirements” – something that wasn’t necessary for quite awhile, but, guess what, They’re Baaack! During the past several years during the big subprime-Stated Income-easy credit frenzy, the idea of “Reserve Requirements” pretty much went away. But now they are coming back and many loans today absolute ...What Type of Mortgage Should I Get?
As you are searching for your home or taking care of your financial situation, let’s discuss what type of mortgage you should get once you’re ready. Rule #1: If you can’t afford a standard 30 year mortgage, you shouldn’t buy the home. Let me put that more snottily: If you want to live in a $300,000 house, you should be able to afford a standard $300,000 house payment. Many of my readers have had financial ...Using a Second Mortgage to Consolidate Debt?
Debt for many Americans is out of control and with all the turmoil in the mortgage markets, does it still make sense to consolidate debt using a second mortgage? The answer is: “Yes” for some people, “No” for some people, and “Maybe” for other people. So, which “people” are you? Let’s look… But before determining whether this is a good financial strategy for you, be aware that you may not qualify ...Latest Articles
Should You Pay Off Your Mortgage Early?
I often find myself in long conversations with my borrowers over the best way to pay off mortgages early. Do I recommend the “Bi-Weekly Payment” ...
Making Sense of the new Tax Credit Extension
Homebuyer Tax Credit Extension
Okay, I think I get it now and I’m ready to give you the scoop on the new tax credit extension. ...
Variable Rate vs. Fixed Rate
Choosing a Variable Rate is like Ordering a Pizza
“Should I pick an adjustable rate mortgage, like a 3/1 or 5/1 ARM, or go with ...
Washington Women Veterans Summit 2009
"Top 10 Ways to Get Out of Debt and Build Wealth" is the title of my workshop at the Women Veterans Summit this year. I’m ...
Know your Statutes of Limitations
“Can you just make a small payment as a show of good faith?” Have you been called by a collection agency trying to collect on ...