All articles in How to Credit

Fixing Credit Report Errors in 3 Easy Steps

Fico Score Improvement

Credit Repair Companies, even the good ones (and I say that very generously) remind me of a quote from one of my all time favorite private dick movies “the Two Jakes”. In the opening scenes Jake finds himself at the top of the heap, professionally speaking, the “leper with the most fingers.” This is how I feel about credit repair companies, even the good ones are just one finger away from being fingerless.

Dos & Don’ts During Your Mortgage Process

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  1. Do:

Dos and Donts During the Loan Process

Do:

  • Make loan and other debt payments on time, especially over the months leading up to the filing of your mortgage application. It sounds simple, but every 30-, 60- or 90-day delinquency on a loan or credit card will reduce the credit score the lender ends up considering as part of the loan file. That score, in turn, will determine the interest rate you get on your home loan. Continue reading Dos & Don’ts During Your Mortgage Process

FAQ – What is an FHA 203(k) loan good for?

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Your source for Raleigh-Cary area FHA 203(k) loans

What Is an FHA 203k Loan?

This loan can help you buy and repair a fixer-upper or what is sometimes called a Handyman special

FHA 203k loans are loans that are insured  by the Federal Housing Administration The federal government designed these loans to encourage lenders to fund seemingly risky home purchases. Risky, because they are homes that either don’t meet HUD standards for occupancy and are in need of major renovation or simply need some updating but the updates are causing the homes to fall short of market expectations.

There are two types of FHA 203(k) Rehab loans.

Traditional 203(k)

Streamlined 203(k)

Continue reading FAQ – What is an FHA 203(k) loan good for?

When Spanish Alone isn’t enough

How to download actual paper versions Bank Statements when using the Spanish language version of Bank of America online banking.

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By now everybody should know that getting a mortgage loan to buy a house today is not as easy as it was in 2007. The so called mortgage meltdown of 2008 changed everything; just ask anyone who obtained a mortgage in 2007 and who has obtained another in 2013, there’s no such thing as “take my word for it”. Today, everything, and I mean EVERYTHING out of the ordinary has to be documented, verified and then certified. The process is very detailed and nothing is left to chance but with motivated borrowers, and the right mortgage lender the process can be smooth. Continue reading When Spanish Alone isn’t enough

How to Get Truly Free Credit Reports For Life

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How to Get a Free Copy of My Credit Report

Fair and Accurate Credit Transactions Act  (FACTA ) was a law passed by the US Congress in 2004. This act allows consumers to request and obtain a free credit report once every twelve months from each of the three nationwide consumer credit reporting companies (Equifax, Experian and TransUnion). Continue reading How to Get Truly Free Credit Reports For Life

How to protect your Credit from Identity Theft

In my free time I enjoy riding my Felt road bicycle. There is a cliché amongst cyclists, “there are two types of bikers, those who have crashed and those who haven’t crashed yet”. The same can be said about identity theft. It seems like once a week I read headlines such as Sony Hackers Claim to Have Credit Cards, and, Senate panel quizzes IRS on tax-return identity theft.From what I can tell there are no indications that identity theft will decline anytime soon either.

Continue reading How to protect your Credit from Identity Theft

Bank of America Accepted Short Sale – but they say you still owe

Bank of America Customer Service

After a few weeks of the multiple times per day barrage of phone calls from Bank of America I attempted to resolve this by calling them myself. The colossal comedy of incompetence a person has to suffer in order to get a straight answer from Bank of America is deplorable! As a Mortgage Loan Officer with nearly 15 years of experience speaking the language of mortgage lenders I can only imagine how impossible this experience is to someone without similar experience.