Archive for the 'Credit' Category

The US Treasury Department has announced a measure that they hope will save homeowners from foreclosure. Dubbed “Project Lifeline”, it hopes to give folks a chance to find new mortgage options and offers a delay in foreclosure for 30 days.
Having come close to it personally (my short sale story), and having met hundreds of […]

The National Association of Realtors (NAR), can always be counted on to find some way to positively spin the real estate market. However, over the last few months, they’ve been losing more and more positive items to spin. Their last seemed to be the median housing price, which had still been something that […]

Still on brief haitus, but the Arizona Mortgage Guru and Naked Capitalism had some interesting thoughts on causes of the lending meltdown we’ve been witnessing:

Yves Smith - Naked Capitalism
It suggests that many of the people who took out subprimes weren’t people who bought more housing than they could afford. It says they were already overstressed […]

Everyone has heard a foreclosure story recently, but the ones that stick out are the ones from people who normally could afford their homes and weren’t buying McMansions with $30,000 salaries.
Case in point, the below three victims this Foreclosure Friday:
A Great Life… And Then, Divorce

Life happened fast for Kerry and his wife.
In just five months […]

For a while, most folks felt secure knowing they were over the 620-640 FICO mark with their credit score. This number of course being the rough borderline for subprime credit. And up until now, that was pretty much all you needed.
However, as the housing bubble bursts open, it gets everything wet. We’ve […]

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