Julie's Blog

On Friday, I am getting final conditions together on a purchase loan file. The credit report was expired on September 10th so the lender wanted an updated one. (I am doing some contract processing on the side for another mortgage company). I order a new credit report and the fico scores go down 3...

Over the last few days rates have been improving. For a loan amount minimum of $150,000, we can lock you today at 5.750% with 0 points. Wow! it is a great day to lock!! Have a great weekend!!

I have been busy tonight researching down payment assistance. Other than the standard 3% or 6% contributions, I am considering Seller Financing. We used to be able to have Sellers carry back Second Mortgages. Fannie and Freddie frown on this, unless it is a Community Second. Community Seconds are...

About 6 months ago I gave a shout out to AR friends and their thoughts on Grocery Store advertising. Many said not to do it and some said go for it. I did a big banner ad in the entrance to Kroger ( a local grocer here in MI). The cost was $750, and I figured the exposure couldn't hurt. Unfortuna...

Yes that is right, Free!! I have been bombarded by credit repair companies lately. They will give you referral fees, promise to improve credit scores and even remove foreclosures and bankruptcies. Let me say first, this isn't my first blog on the subject and may not be the last. Yes it is an oppo...

Yesterday, I had the honor of being summoned to Jury Duty. I spent the day in Jury Selection, I wasn't selected. That was okay with me. When I was checking out the Clerk at the Court told me that I would be paid $40 for the day, $8 for my parking and $.54 a mile for my gas. I had listened during ...

All of these new Credit Repair Companies are coming in like a swarm of Sharks! Noting that this is the next new huge profit making opportunity. Likely you are being marketed to as well. Watch out, the FTC has strict guidelines and laws governing these companies. I will tell you what I have learne...

Recently, I have been bombarded by Credit Repair Companies promising to increase by borrowers credit scores. These sometimes, Law Firms, are offerring me an Affiliate Fee for my referral of clients. The fees range anywhere from $35.00 to $300.00. Likely, you are being marketed to as well. Let me ...

Yesterday was a big day! Freddie Mac jumped on board with Fannie Mae and is also eliminating the Automatic Reduction in Loan To Value (Downpayment requirements for purchases) effective June 1st. If your property was located in a Declining Market prior to June 1st, Lenders were requiring additiona...

Credit Restoration and/or Repair What is up with these credit repair services anyways? I have been wondering this for about 1 year now. I see the ads, both on tv and in print ads, everywhere! What is it that they are doing? Honestly, it is what you or I can do for ourselves. If you don't know whe...