All Posts Tagged With: "debt"
Gingrich Offers Deficit Solution: Credit From Tiffany’s
Republican presidential hopeful Newt Gingrich says the solution to the nation’s credit problems is an account with Tiffany & Co. Speaking before the Society for the Encouragement of Multiple Marriages, Gingrich explained that “we are at a point in our Nation’s history where we must turn back to our corporate roots for salvation. We have [...]
26May2011 | Peter G. Miller | 0 comments | Continued
Real Estate Seer: Renting In, Mortgages & Foreclosures Out
In the decades since World War II real estate prices rose with enormous consistency but now the oomph is gone. Most people are better off renting than owning, says Patrick Killelea. For him, and for millions of others, the path to financial security no longer includes real estate ownership, mortgages or the possibility of foreclosure. [...]
15Feb2011 | Peter G. Miller | 10 comments | Continued
Home prices dip, mortgage loan debt falls 2.5% yet households gain $1.2 trillion in new wealth
Despite massive unemployment and falling home prices, Americans have actually become more wealthy. Huh? Are your kidding me? According to the Federal Housing Finance Agency (FHFA), home prices in the third quarter fell by 3.2 percent from a year earlier. At the same time, the Federal Reserve says that in the third quarter America’s personal [...]
14Dec2010 | Caroline H. Tucker | 0 comments | Continued
8 million consumers drop credit cards, improve mortgage standing
More than eight million consumers stopped using credit cards during the past year, a trend which will help people qualify more easily for real estate mortgages and reduce monthly living costs. A new study by TransUnion shows that the use of bank-issued, general purpose credit cards has fallen significantly during the past year. “This deleveraging,” [...]
30Nov2010 | Caroline H. Tucker | 0 comments | Continued
Credit Cards Or Mortgages: Which To Pay First?
Conventional wisdom has it that folks will use their last dollar to pay their mortgage while other bills remain unpaid, but a new study says otherwise. A new study by TransUnion, the big credit reporting agency, says there is now a new payment hierarchy where consumers pay their credit cards before their mortgages. “The percentage [...]
4Feb2010 | Peter G. Miller | 0 comments | Continued
How To Read The HUD-1
Since January 1st, 2010, all real estate transactions have been settled using a new HUD-1. The HUD-1 is a standardized form which allows real estate buyers and sellers to clearly understand the costs of their transaction. The original HUD-1 was developed as a by-product of the Real Estate Settlement and Procedures Act of 1974 — [...]
8Nov2009 | Peter G. Miller | 0 comments | Continued
Do lenders count child care as a monthly “debt?”
Child care is regarded by most loan programs as something other than “debt” for mortgage qualification purposes. The logic is that child care is not an obligation in the sense of a car loan or credit card bill. For details, speak with loan officers. Technorati Tags: care, child, cost, debt, loan, mortgage, qualification, qualifying
31Aug2008 | Peter G. Miller | 0 comments | Continued
How Will A Mortgage Application Be Impacted If I Don’t Pay My Credit Card?
The debt will likely show up on credit reports. If it does show up you will need to pay it off. If an unpaid debt is on your credit report a lender will ask for an explanation. You can then write that there was a debt, there was bad judgment, you realize you were wrong, [...]
30Aug2008 | Peter G. Miller | 0 comments | Continued
How Can I Deal With Unpaid Credit Debt?
Question: Five years ago, in a foolish moment, I refused to pay a credit card bill. I recently settled the matter by paying off the $800 debt. How will this event impact my ability to get a mortgage? Answer: The debt and pay-off will likely show up on credit reports, so a lender will ask [...]
29Aug2008 | Peter G. Miller | 0 comments | Continued
Toxic Loans & The Art of Denial
There’s an idea which has been voiced with more and more frequency and it generally goes like this: I have a toxic loan but why worry? After four years or so — just before the monthly cost of this loan doubles — I’ll just go out and get another interest-only or option ARM, begin the [...]
26Aug2008 | Peter G. Miller | 0 comments | Continued
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