| There are five primary factors that account for the magical credit score which determines you acceptance or rejection for most loans or credit cards, and strongly influences the interest rates or total cost for you to borrow the funds. |
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Housing is showing signs of having FINALLY bottomed! Here are the facts: Distressed sales are now 32% of the market. ALL cash buyer are 31%. Home sales INCREASED in December. I think this is not a small point. When was the last time that housing sales INCREASED in December? (never) The overall supply of homes […]
| Lenders are insisting on higher credit scores and more documents than required by the Federal Housing Administration and government-backed Fannie Mae and Freddie Mac. Quicken Loans Inc. and Vision Mortgage Capital are among firms saying they are increasing scrutiny of would-be borrowers in response to pressure to cover losses incurred on U.S.-backed housing debt. “You’ve got to take measures now to protect yourself,” John B. Johnson, chief executive officer of Birmingham, Alabama- based MortgageAmerica Inc., said during a panel discussion this month. Demands that lenders repurchase bad mortgages from Fannie Mae and Freddie Mac are “casting a pall over the market. I fear that it will face a much longer recovery because of this.” |
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| Part of the optimism shared by those in real estate is the relative steadiness of the local economy and the area’s low unemployment rate compared with the rest of the nation. “We don’t see the boom and we don’t see the bust,” said Valenti. “We always fall somewhere in between.” |
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