Archives for April 2007
Florida Mortgage: The Perfect Refinance
The Good Old Days
Ah, remember the good old days when the Federal Funds rate was 1% and the Prime Rate was 4%? This was the case in 2004. It’s amazing what a couple of years can do. The change began in June of 2004 with the first of the Federal Reserve rate hikes. We didn’t […]
Florida Mortgage: First Time Home Buyers Rejoice
The End of an Era
In October of 2006 the subprime home loan industry begin to break down. Wall Street investors, monitoring the default rates of mortgage portfolios and concerned about the continuing drop in real estate prices nationwide decided to stop purchasing subprime loans. By March of 2007 the entire subprime industry as we knew […]
The Florida Mortgage Credit Crisis
A New Environment
Over 20 percent of all mortgages originated from 2004 through 2006 were subprime mortgages. The subprime lenders that funded these mortgage have recently gone out of business or eliminated their subprime program line. Mortgage expert Jim Kemish discusses the potential impact.
The End of the Subprime Industry
In late 2006, as real estate values continued to […]
Why Credit Repair is Needed
Credit Reporting is a Massive Job
The credit bureaus currently compile, sort, and sell credit data on over 200 million Americans. Before this data is compiled by the credit bureaus it has to be generated by countless creditors such as credit card companies, auto loan, and mortgage servicers. Each of these creditors has their own system […]
Credit Repair Steps to Success
Introduction
I’ve spoken to thousands of people over the years about their credit. I’m often asked to explain the steps that should be taken to remove errors from credit reports. Here is a step by step guide that will produce results if followed carefully. The content of your credit report has a major impact on the […]
Credit Repair: The Truth About the Credit Bureaus
The Truth About the Credit Bureaus
In a recent blog entry I wrote, “Significant legislation has been enacted to protect you from the impact of the credit bureau’s inaccuracies. The right that you have to receive copies of your three credit reports for free on an annual basis is not a friendly public service by the […]
Florida Mortgage Broker Discusses Interest Only Refinance Options
Adjustable Rate Mortgage Popularity
Over the last five years almost forty percent of all home buyers selected adjustable rate mortgages. In early 2004 signs of inflation begin to appear. These indications pressed the Federal Reserve into action. From June 2004 to June of 2006 the Federal Reserve increased the Federal Funds Rate 17 times. The impact […]
Credit Repair Step by Step
The Benefits are Amazing
The content of your credit report can have an enormous impact on the quality of your life. Your credit score will determine the cost of your mortgage, your automobile payments, and your credit cards. An improvement in your credit score could potentially save you thousands of dollars per year.
Overcoming Your Fear
It is […]