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Some 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

Lawsuits over Truth in Lending may be able to assist some borrowers on their loans
Real Estate Mortgage Fraud

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.

Annual Credit Report Web Site Link below.

Tampa Bay Condo Rentals 
Florida Hurricane Info

REAL ESTATE FORECLOSURES - Florida ranks second in the nation in foreclosures with 286,285, according to data collected by RealtyTrac, a company that tracks foreclosures. The top five foreclosure states are: California with 627,440; Florida with 286,285; Ohio with 115,954; Michigan with 112,969; and New Jersey with 64,636. Florida has reported 178,850 new foreclosures since Jan. 1, with 15,877 in June. The average sales price of a foreclose is $169,235. The top five Florida counties reporting foreclosures in June are: Broward: 7,104; Lee: 5,132; Miami-Dade: 5,087; Orange: 3,087; and Pinellas: 2,061.
 

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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 for this purpose. Please note that, 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.

July 30, 2008 The Senate passed and the President signed a landmark housing bill to shore up the nation's housing finance system. The bill contains billions of dollars in loan guarantees, a tax break for first-time home buyers and many other provisions. The rescue plan extends an unlimited line of credit to the two mortgage-finance giants Fannie Mae and Freddie Mac for 18 months and gives the Treasury the authority - also for 18 months - to buy Fannie and Freddie shares if the Treasury deems the companies’ capital to be inadequate.
 

Florida Online Mortgages Loan Info
RESPA - Real Estate Settlement Procedures Act  U.S. Dept of Housing & Urban Development

Mortgages Florida Mortgage Loans Loan Approvals Loan Qualifying Pre Approval
Credit Scores Credit Reports

Benefit from the available free mortgage and loan information before you begin your search. Be a wise buyer. Tampa Bay Mortgage Info is a web site platform designed to assist consumers in their real estate mortgage and loan research. Consumers interested in obtaining information regarding mortgage, purchase or debt consolidation loans and real estate information should do comparison shopping and only seek advice from licensed professionals. Compare Loans and Mortgage Rates.

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