All Posts Tagged With: "change"
What Is A Mortgage Modification?
A mortgage is actually a contract between a borrower and a lender. The borrower gets cash up front and the lender gets back the loan amount plus interest over time under terms and conditions established in advance. There are times though when either the borrower or the lender will seek a mortgage modification, a change [...]
16Feb2010 | Peter G. Miller | 0 comments | Continued
Credit Scores: Why Do The Numbers Change?
Question: My credit score was 670 a month ago, now it’s 650. What happened? Answer: Credit scores can be seen as pictures which show your credit standing at one point in time. At any other point in time the picture may be different. Actually, it would be amazing if credit scores did not change — [...]
1Sep2009 | Peter G. Miller | 0 comments | Continued
Interest Rates Rise Suddenly, Say Mortgage Bankers
The Mortgage Bankers association is reporting that mortgage rates moved up sharply during the past week. ___ “The average contract interest rate for 30-year fixed-rate mortgages increased to 5.25 percent from 4.81 percent, with points decreasing to 1.02 from 1.28 (including the origination fee) for 80 percent loan-to-value (LTV) ratio loans. The 44 basis point [...]
3Jun2009 | Peter G. Miller | 0 comments | Continued
Why Stocks & Houses Don’t Compare As Investments
There must be a million side stories to the bankruptcy of General Motors, a terrible event for the company, its workers and shareholders. One of those stories concerns the Dow Jones Industrial Average which at this momment seems to be free of any companies that are actually, well, industrial. The Dow has just announced that [...]
2Jun2009 | Peter G. Miller | 0 comments | Continued
How Will A Job Change Impact A Loan Application?
How will a job change impact a mortgage application? Answer: What type of job change? From one job to another in the same field should not be an issue. From a job in one field to a job in another may be problematic because lenders like to see a two-year earnings history. And what about [...]
28Aug2008 | Peter G. Miller | 0 comments | Continued
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