It also varies depending on which of the three main credit repositories you check. Each has a different scoring formula and different information in its files. By Lew Sichelman October 24, 2010 Reporting from Washington Here is a scenario that happens all too frequently: A would-be home buyer applies online to obtain his all-important credit score. It comes back at a healthy 720, good enough to qualify for the best rate in the mortgage market. But then, when he applies for a loan … [Read more...]
Foreclosure Rescue Scams Are Going Strong
From the BBB 9/15/2010 The housing market in the United States may not be thriving, but business is booming for foreclosure rescue and loan modification scammers. The US Government Accountability Office (GAO) released a report in July 2010 entitled "Home Ownership Preservation". It says that: "The current foreclosure crisis has provided persons who may perpetrate mortgage foreclosure rescue and loan modification schemes with unprecedented opportunities to profit from homeowners desperate to … [Read more...]
How to Buy a Palm Springs Home at a $100,000 Discount
With nearly 150,000 foreclosed homes on their books, Fannie Mae and Freddie Mac are trying to pare down their growing inventory of repossessed properties, in turn providing home buyers with tremendous purchasing opportunities. MAKING SENSE OF THE STORY FOR CONSUMERS An analysis by SmartMoney magazine found that home buyers could save $100,000 on the price of a home by purchasing a foreclosed home owned by Fannie Mae or Freddie Mac as opposed to a similar fair-market property just a few blocks … [Read more...]
News You Can Use About Taxes
Tax Tips for Homeowners Looking Ahead to 2010 Returns From energy tax credits to vacation home deductions, check out these tax tips for homeowners looking ahead to 2010 returns. Read Tax Credits for Installing Solar Panels A generous federal tax credit makes solar panels more attractive to the average homeowner, especially if electric bills are sky high. Read Claim Your Residential Energy Tax Credits Earn a residential energy tax credit and lower your utility bills at the … [Read more...]
42,000 of California's jobless will get help with mortgages
by jwasserman@sacbee.com Published Thursday, Aug. 12, 2010 More than 42,000 laid-off California homeowners are about to get a break. Starting Nov. 1, the government will help them make mortgage payments while they look for another job. Wednesday, the U.S. Treasury Department added $476.2 million to a $64 million state program that will pay jobless homeowners up to $1,500 a month. The funding represents the newest federal effort to steer Troubled Asset Relief Program funds originally … [Read more...]
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