Traversing the Swamp Lands of Loan Qualification
April 4th, 2008 categories: Buying Real Estate, Mortgage Help
Soooo, you forgot to drain the swamp, did you? Well here's a quick tip to getting your credit back on track and the alligators off your backside. There are websites for obtaining a copy of your credit report. Use one and see what's on that report. Ah, so you found where the alligators are coming from. Ok, start damage control now. First make sure these are your debts because there is that sticky situation called identity theft. Secondly, be very careful of predators that buy debts, change the date on them and try to collect the money from you plus 200% interest. There is a statute of limitations on debts of 3 to 5 years. A lot of people don't know this and they cough up enormous amounts of money to pay off these predators. There is the beginnings of a class action suit against them. Stay tuned to hear how that comes out. Now pay off what you can, negotiate terms on the others and get yourself out of debt so that you can be a happy home owner.| Discussion: 2 Comments »
Looking for Your First House or Reality Bites.
April 4th, 2008 categories: Buying Real Estate
YESS you've gotten approved for a loan!!! Now begins the fun process of finding your first house. You make a list and check twice. You have two typewritten, single spaced, pages of all the amenities you want in your first home. The big day arrives. You and your Realtor go look at the first property in your price range. What the @#$%. This doesn't look like the home of your dreams. It ain't even close. Stop right there. Go back to your list. Yes reality bites and it just bit you on the backside. You are probably not going to find everything you had in mom and dad's house, in your first house. Now whittle down that list. Cross of the slate floors, granite counter tops and stainless steel appliances. You might pare down the square footage (inside and out) while you're at it. Ok, now that you have a list that is a manageable size and based in reality, WORK IT BABY. Get the most bang for your buck. Now that's how you go looking for your first house.| Discussion: 1 Comment »
