by kramoltz@hotmail.com | Jun 27, 2016 | Mortgages + Lending
Over the past few years the federal government and lenders have taken several steps to open up the credit box. Signs that the efforts were paying off came last fall when credit scores on closed loans lowered to 723. As of April 2016, the average FICO score was still...
by kramoltz@hotmail.com | Mar 8, 2016 | Home Buying, Real Estate Facts & Figures
Mike Orr of the Cromford Report pointed to difficulties obtaining financing in all price ranges as a drag on the housing market. Talk of an easing of credit requirements in 2015 was just that, talk, as “lending standards remain stubbornly high”. For example, the...
by kramoltz@hotmail.com | Feb 28, 2015 | Mortgages + Lending
Short sales are a fact of life in Arizona residential real estate. A short sale is defined as the sale of a property, resulting in a payoff of less than the total amount owed, in lieu of a foreclosure or to permit a sale. If you are the next metro Phoenix homeowner to...
by kramoltz@hotmail.com | Feb 28, 2015 | Mortgages + Lending
For years FICO® scores, and how debt management actions influenced them, were unobtainable by consumers. For years, Fair, Isaac & Co., the creator of the system, wouldn’t give any guidance on how these credit scores were affected by adverse events. There are in...