Archive for category Renting & Real Estate
How can I get my home refinanced even though I’m in credit counseling for a few bills?
Posted by admin in Renting & Real Estate on March 13, 2011
I need to get my home refinanced. Credit counseling is on my credit report. I had no idea before I got into credit counseling that it would make my credit look bad(I still pay my bills on time as usual). Even though the credit counseling is there, how can do I go about getting my home refinanced by a reputable lender? There has got to be a lender out there somewhere that can help me. Does anyone have any helpful suggestions.
Donald
How to report GOOD tenants to credit agencies?
Posted by admin in Renting & Real Estate on February 19, 2010
I rent out properties in both Michigan and NYC, and in two of my units I took on high-risk tenants who I believed were the victims of unfortunate circumstances rather than bums.
In both instances, they have been absolutely fabulous tenants, and I really want to help them turn their consumer credit ratings around, the real ones that mortgage and car people use.
I have receipts for on-time rental payment for 1-2 years from them.
Does anyone know how to do this?
Edit: Maybe I wasn’t clear: How do I affect their Equifax, Experion, etc and show that they have been great tenants for this period of time?
Sally
What are the current lender qualification ratios for mortages?
Posted by admin in Renting & Real Estate on July 18, 2009
This would be for a 30 yr fixed mortgage, 20% down, with a 700 credit score? I don’t have any consumer debt, so I would just need to be concerned about the percent of gross income to go towards the mortgage, property tax and insurance.
Gregory
Are there any lenders that will givemortgage loan w/credit scores of mid-high 500′s with state tax lien?
Posted by admin in Renting & Real Estate on July 13, 2009
I have been married for 2 years, we are renting, my spouse has a brand new tax lien. We really need to get into a home, we are done renting and we need the tax break. our “consumer” scores with all three major credit companies are from mid-high 500′s for both of us, i do not make more than 2500.00 month, spouse makes 3-4 times that. WE REALLY NEED TO DO this for tax purpose. THANKS FOR ANY ANSWERS.
Leonard
Refinance 6% mortgage for 2 homes on 10 acre lot to consolidate debt?
Posted by admin in Renting & Real Estate on June 25, 2009
Just added another manufactured home on permanent foundation,1600 s.f., year 2000, to our 10 acre property. We can split the lot into two 5 acre lots, so each house is on 5 acres. Property values are increasing 10-15%/year in this area, even in this market. We have a 6% mortgage, 2 years old, and a 13% second mortgage for about $14000. We have about $45,000 in consumer debt, credit score in low 600′s. Should we try to use the value in our property to relieve us of the high interest consumer credit? Would we be better off, considering our mediocre creit score?
Phyllis