Melody Aguilera's (melodymilak) Blog

Bad credit is a big factor in any lender's mortgage process. In fact, some lenders will not even consider someone who has bad credit. So, your credit history and credit score are critical to you getting a loan and getting a lower interest rate. What's a credit score? The most common credit score ...

While you might be in a tough spot, with financial woes and credit agencies at your heels, there is light at the end of the tunnel. And it might just come in the form of a bad credit mortgage. Or, you might have "bad credit" because you just haven't had any credit in the past. If you've never had...

Home Buyer Checklist123Property Address____________________________________Asking Price$___________$___________$___________Real Estate Taxes$___________$___________$___________The NeighborhoodNear WorkNear SchoolsNear ShoppingNear ExpresswaysNear Public TransportationNear Doctors/DentistsNear Chu...

Are you ready to buy a home, post bankruptcy? Start by determining how much house you can afford. This is critical. You don’t want to get into the same money squeeze as you were in before. Including principal, interest, taxes and insurance, it’s a pretty safe estimate that you can afford to pay a...

Brokers ConfirmedOct.26, 2007    Study Reveals Brokers Are Less Costly Option For Sub-Prime BorrowersNew Study Finds Factual Evidence That Consumers Pay Less With a Broker  Washington, DC. – October 18, 2006 – Brokers are a more cost-effective option for consumers in the subprime home loan market...

If you've had the unfortunate experience of going through a bankruptcy, here's some good news: there is "life" for your credit score, post bankruptcy!One of the best things you can do, first and foremost, is rebuild and repair your credit score. After a bankruptcy, your credit score will be quite...

Perhaps the single biggest decision you make when buying a home (other than picking the home itself) is finding the right mortgage. The "right" mortgage will get you the right payment options, the right interest rate and the right lender to work with. The wrong mortgage? Well, you could end up wi...

A large majority of people choose the fixed rate mortgage. This mortgage guarantees a certain interest rate for a period of time. The most popular fixed mortgages are 3,4 and 5 years. However, you can have a fixed mortgage for as short as 6 months or as long as 10 years.The biggest selling featur...

An "interest-only" mortgage is like a line of credit. You can pay only the interest on the mortgage. This can greatly reduce your payments in time of financial stress. However, it also means that the debt will never be paid off.With an interest only mortgage, you pay only interest for the first f...

Adjustable rate mortgages do what you'd expect - the rate 'adjusts'. It works like this: With a fixed rate mortgage your monthly payments will be the same over the life of the mortgage. You'll always know what you'll have to pay. In contrast with an adjustable rate mortgage (sometimes called an A...