Poor Credit Scorers Needs Homes Too

April 24th, 2015 by admin

Do you have problems getting a home loan because you have poor credit (or bad credit)? If so, forget the frustrations you may have dealt with in the past, there is hope! There are loans designed just for people like you. A Home loan for people with bad credit is becoming easier to find thanks to online banking.
A home loan for people with bad credit is a unsecured or secured loan for people who have a poor credit rating. Banks call ‘bad credit’ anything from having a late credit card payment, bankruptcy, defaulting on a past loan as well as several other negative listings on your credit report.

A secured loan is a loan that is secured against property (the value of your home, car, business etc.). These loans are perfect for when you’re trying to borrow a large amount of money, can’t get a loan from a traditional bank or lender, or have poor credit. Also, you can get a lower interest rate then most unsecured loans.

Unsecured bad credit loans are not secured by any type of property, and used to be pretty hard to come by and with high interest rates. However, now many online finance companies are able to offer these loans, with much lower rates.

Bad credit could happen to anyone. If you fail to make a payment because you simply couldn’t afford it, your credit rating will instantly suffer. Your missed payment would get noticed and flagged on your credit report, thus working against you when applying for a loan. Home loans for people with bad credit were introduced to help people who need a loan with poor credit, as well as to improve their credit rating at the same time.

Many online mortgage companies now offer a home loan for people with bad credit because of their low overhead. They don’t need to worry about large buildings, thousands of employees, or many other factors that traditional banks have to deal with. Because their expenses are so much lower, they can offer loans that most banks simply can’t.

Also, many online loan companies are now specializing in this market, now realizing that they can actually profit over most banks by helping people out who all the traditional banks ignored! It’s starting to be a win – win situation. These companies are making niche profits, people with bad credit are getting home loans AND improving their credit rating at the same time.

Providing that the borrowers pay the loan on time, there credit rating now gets better every month. Many people have actually raised their personal credit score (the three digit number that banks look at to quickly rate an applicant) by leaps and bounds. People who have been making their payments on time have reported gaining 30 to 50 points every year. For many borrowers with poor credit, that means having a nearly perfect credit score in a few years.

Sites like Low Rate Source are now openly advertising ‘any credit welcome’ right on their homepage. The other main benefit from sites like these is that the forms are pretty simple and fast (name, address and type of loan), so you don’t have to sit around filling out long rate quote applications. We’ve listed several sites that you may want to check out below, both sites that offer home loans for people with bad credit and some trusted credit repair websites that we have reviewed. The best bet for most people with less then perfect credit is to apply with finance companies that offer bad credit home loans and to start some type of credit repair program at the same time, then if your loan is denied – simply apply again in a month or two.

Good Luck and Great Rates,
Liam Griffon

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Bad Credit Mortgage Lenders Homes For Low Scores

December 27th, 2014 by admin

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FHA Makes Owning Homes Possible for People with Bad Credit

December 18th, 2014 by admin

Owning your own home is now possible despite the fact that you have bad credit.

If you are among those individuals wanting to own a home but have bad credit, you will be delighted to know that is now possible to achieve this.  FHA home mortgages are now being given to people with blemished credit.  The Federal Housing Administration is a government agency that insures the loan you are applying for from private lenders. Anytime you are unable to pay, they will partly do so on your behalf.  With the government securing the loan, it definitely gives lending company the assurance they need.  For this reason, even with a bruised credit score, you can apply for this loan and use it to buy or construct your own home. 

After the economic recession and the downfall of the real estate business a few years back, construction business today is showing positive signs of getting back on its feet. Businesses are recovering. People are now finding financial stability bit by bit. If you desire to have your own home but you have a bad credit, then apply for the FHA housing loan today. 

Some people without a financial background find it difficult to apply for a mortgage. Other people with blemished credit, who want to improve their credit score, use this loan product to repair their credit standing.  An FHA mortgage loan requires only a small down payment—about 3% of the total loan amount which you can easily save up for when planning to buy a house.  Depending on your purchase price, you can still maintain a fairly low monthly payment. Moreover, with interest rates for mortgages at an all-time low, you can get a huge break on the interest portion of your payment. This loan comes with a requirement for Private Mortgage Insurance, which will increase your monthly payment, but it will be removed once you pay down the loan amount to less than 80% of the purchase price. So, if you want to increase your credit score and you qualify for an FHA loan, now is the time to take advantage of low house prices and low interest rates.  

Qualifying for a loan like being quite simple. Aside from being of legal age and a US citizen, you should also have a valid social security number.  There is no minimum financial requirement but you need to prove that you have a steady job and you pay your bills regularly.  Your income to debt ratio should show that 29% of your income goes to your home costs while 41% goes to your bills and other long term loans.  The good news is a lot of people, when applying for an FHA mortgage, are getting approved and are now on their way into owning a house of their own.

When buying a home, don’t overlook the importance of due diligence. Home inspection services are vital to ensure you are buying a home that is worth your investment dollars. But, not all home inspectors are created equally. Many states do not require home inspectors to be certified in anything and you can easily obtain a home inspection that isn’t worth much in value. However, many qualified home inspectors are certified by the American Society of Home Inspectors (ASHI) and carry a coverted certification with this long-standing, professional organization. Moreover, home inspectors who are worth their salt further their certifications and increase their education in the home building industry. Many quality home inspectors have additional certifications in International Code Council (ICC) and/or specialize in specific testing like radon testing, home energy audits or pest infestations. Do you homework before selecting a mortgage lender for your home finances. But, most importantly, do your research before requesting the services for due diligence vendors. Select a home  inspector who will give you a fair, honest and unbiased review of your potential home before you make the purchase. A certified home inspector is worth every dollar they request for their services. They will analyze the integrity of the home’s structures and provide you with the knowledge to make a wise home investment decision.

Bill serves as President and CEO of Champia Real Estate Inspections, LLC in Atlanta, GA. He served in the United States Navy and received his degree from the University of Richmond, graduating Magna Cum Laude.

An active member of Rotary, he has served as both President and Assistant Governor in Rotary International District 6900. As President of the Windward Rotary Club, Bill received the prestigious ‘Sheffield Award,’ in recognition of his leadership role. Prior to the home inspection business, Bill was a certified general contractor and served as CEO for Longview Properties Group, Inc., a luxury home construction company, and Compton Properties, LLC, a home renovation company.

Flower Mound Homes for Sale Buyers Easy Steps on How to Repair Credit Score for a House Loan

July 9th, 2014 by admin

If you’re planning on buying a house, most likely, you also know that having a good and credible credit score will increase your chances of being pre-approved for a mortgage.  Needless to say, this three-digit number is your bridge to that dream of yours, and have lenders consider you as a trustworthy borrower.  Experts say a FICO score of 700 and above are what lenders would like to see in every applicant’s credit report.  But if your credit score is hanging on a limb, there are still ways to rescue it back to its lender-friendly state.

Pay your bills on time.  There’s no simpler way to say it.  Have a shift; or if you’re already doing it, then maintain that good practice.  Whatever you owe, and however small your debt is, pay it on time. 

Avoid credit card purchases.  You can’t solve your bad credit standing by accruing debt through credit card spending.  You’re just getting yourself deeper in the mire, and will suspend all the more your home-buying plunge.  Lenders don’t usually commit with borrowers who can’t get their hands off in the bag of unnecessary spending. 

Review your credit report.  Pull out your credit documents to determine which areas you need to work on.  You may approach two or three credit agencies and ask for assistance with regard to this.

Correct wrong entries in your credit reports.  If you have seen some errors or even inaccurate information in these documents, have them corrected at once, so as to avoid any awkward discussions with lending agencies.  The stress is on mistakes; no altercations whatsoever.  A clean and cleared credit report will vouch an improvement in your credit score.

Pay off debt, or at least reduce the amount you owe.  Remember, you’re aiming for a higher credit score, and that your debt will carry a 30% weight on the three-digit you’re aiming for.  Avoid revolving around your credit card debt; it will worsen your credit standing and result to a upsetting transaction with lenders.

Deal with your delinquent accounts.  If you had been, one time or another, guilty of default, then it’s time to curve your credit score by starting on paying your overdue balances.

Don’t apply for another credit card.  If you want your credit score to be that admirable to lenders, prevent yourself from entertaining new credit card applications, at least when all these fixing are through.  But it can never hurt, and will be more than probable benefit you in the long run, if ever you regularly practice this.

Contact creditors for help.  Believe it or not, they can and will be your ally if you want your credit score to be that credible and attractive to lenders.  Open up your problems regarding your finances, or credit specifically.

These are only a few pointers on how you can improve your credit score and your chances of availing for a loan.  As cliché as it is, the future of your dream house is in your hands.  And how and for how long to fix credit score depends on the extent of how bad your credit history is.

Lily Blue is a self-professed tightwad but with a house to boot, and enjoys writing and sharing home-buying tips and about real estate.  Find luxurious houses, custom estates, and residential single family homes in Flower Mound real estate and view other stunning  Flower Mound homes for sale.

Hawaii homes for sales Sales in Hawaii steady remain indifferent to tax credit

March 18th, 2011 by admin

When economist Paul Brewbaker cracked this week that the government’s $8,000 tax credit for first-time homebuyers affected only a handful of sales in Hawaii, no one in the audience of several hundred real estate executives disputed it.

 

For all the hoopla last month about the burst in sales generated by the tax credit, it’s difficult to assess whether it’s driven many Hawaii sales.

 

While some Realtors say they had several first-time buyers close sales in the past month, others said they’re actually seeing investors return to the market. The tax credit was due to expire on Monday but has now been extended for six months.
Either way, the fact remains that sales have been steadily rising since bottoming out at the start of 2009.

Brewbaker, speaking at a brokers’ forum sponsored by the Honolulu Board of Realtors, pointed out that the peak in home sales, at least on Oahu, happened in November 2004.

Since then, sales have declined, with the trough hitting in January, when 122 single-family homes and 159 condominiums sold.

Since then, sales have risen steadily on Oahu, and October showed gains on most of the Neighbor Islands as well.

The $8,000 tax credit was limited to first-time homebuyers earning no more than $75,000, or $125,000 for a couple. If it did have some effect, that would mean there could be risk of sales starting to fall again after the extension expires.

‘At some point you take the training wheels off again,’ Brewbaker said.

The National Association of Realtors said this month that 47 percent of all home sales nationally were to first-time buyers, up from 41 percent in 2008 and the highest figure since 1981.

But how much influence the tax credit had on Hawaii sales is difficult to measure. With median home prices still above $600,000 on Oahu, it’s a tough market for even well-paid professionals to break into, let alone first-time buyers.

‘We don’t have any way of tracking whether it’s due heavily to first-time homebuyer activity or otherwise,’ said Berton Hamamoto, president and principal broker of Property Profiles Inc., and a past president of the Honolulu Board of Realtors.

While the credit may have sent some people out into the market for the first time, it more likely was the push that some browsers needed to get off the fence and buy, he said.

‘The indication out there is of course it has helped, it hasn’t hurt,’ Hamamoto said. ‘It is yet to be seen whether that thing drops off after the tax credit.’

In addition to extending the expiration date, the income limits for the $8,000 first-time tax credit were raised to $125,000 for single buyers and $225,000 for couples. Congress also added a $6,500 tax credit for existing homeowners provided they have lived in their current home for at least five of the last eight years.

Prudential Locations, which offered the first-time buyers an advance on the $8,000 tax credit, definitely saw a boost because of it, said Executive Vice President of Sales Scott Higashi.

‘We gave out $1 million, but we had a lot more buyers than that,’ he said.

The $1 million would equal $8,000 advances to 125 buyers.

The extension means there could be some momentum through the traditionally slow holiday period, Higashi said.

Some of that activity is from first-time buyers, or ‘property virgins’ as they’re called on a popular cable television show, who were trying to beat the original deadline but couldn’t find the right house or condo.

pprofiles.com offers you the best way to find all real estate information and services. Visit the site for Oahu real estate, Honolulu real estate and Hawaii real estate information.

Do I have to cite and give credit to a paper about Cholesterol?

I am writing a paper about Cholesterol. I am to use APA style writing. The informataion I am obtaining is coming from mainly websites and one book. How to I quote this information. I am trying to reword it as much as possible, but the definition of Cholesterol seems to be the same on all the sites. I feel since the information is facts, I shouldn’t have to acknowledge at the end of every sentence where I obtained the information. If you can help make this easier, I would appreciate it.

Answer
Any information or idea that you use for the basis of any point that you making in your paper has to give credit to the source. Citation Machine should be able to help. The APA style link is on the left. Click on it and it will help you cite your sources. Hope this helps.