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REAL ESTATE FORECLOSURES
Florida Foreclosures
New
York Foreclosures
California Foreclosures
Nevada
Foreclosures
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 Many
real estate buyers put the
"Cart before the Horse"
They first 'guess'
how much
home they can afford.
They do extensive homework, view dozens of
properties and submit a real estate contract that is
contingent upon getting mortgage financing.
Then they apply for a loan on the property
and are
told they can't get approved in their 'guessed' price range.
They should have Pre-qualified first.
A Mortgage Loan Pre
Approval
allows you to search for real estate with confidence. You will know
that the homes or condos that most interest you are within your price range.
Remember, sellers are more willing to negotiate their asking price down when
a buyer shows them
a financial approval letter. Many Mortgage Brokers offer a free credit report
review.
Mortgage
Refinancing?
When it comes time to get quotes for a refinance ... know your credit
score
and what you qualify for.
You'll avoid unnecessary surprises.
Lenders base Loan Approvals on your
credit score. The higher your credit score ... the lower your mortgage rate.
Credit Reports.
Up to 60% of people who check their credit report find errors. You can get a
free
credit check if you've been denied credit in the last 60 days. 3 credit
bureaus Equifax, Trans Union
and Experian collect information from major creditors and lists your credit
history which determines
your credit score.
Your Credit Score is a single
number that provides potential lenders with a "snapshot" of your credit
history. While your credit score may differ slightly from one reporting
agency to another, any of them
can provide lenders with the information they
need to approve or deny a real estate loan application.
Credit scores assess the likelihood that a borrower will repay a loan or
credit card on time.
Credit Score Example Excellent (760-850)
- Good (660-749) - Fair (580-659) - Poor under 579
FACT Act -
Under the Fair and Accurate Credit Transactions Act consumers can request
and obtain
a free credit report once every 12 months from each of the three
nationwide consumer credit reporting companies.
The three nationwide consumer credit reporting
companies have always encouraged
consumers to
regularly review their credit reports. Annual Credit Report .com offers
consumers a fast
and convenient
way to request, view and print their credit reports in a secure Internet
environment.
They also provide options to request reports by telephone and
by mail.
Web Site >
AnnualCreditReport.com They
are a centralized service for consumers to request annual credit reports. It
was created by the three nationwide consumer credit reporting companies,
Equifax, Experian and Trans Union. Annual Credit Report.com processes requests for
free credit file disclosures (commonly called credit reports).
Annual Credit Report.com is the only service
authorized by Equifax, Experian and TransUnion. As a security precaution, consumers should never provide their
personal information to any other company or person in connection with
requesting free annual credit reports under the FACT Act. Annual Credit Report.com will not approach consumers via email, telemarketing or direct
mail solicitations.
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