Can You Get a Loan if You Have No Credit?
No credit, no loan. FALSE! I had a client who was referred by their Realtor, whom I have never met and works in the valley. The client told me that they had been turned down because they have no credit score. The banks claimed that because there was no credit score,...
Quiet Week, But Remember to Lock In
It was a quiet week in economic news this week. Today, Friday, we got the news the that CPI was unchanged. It’s been a long time since I have seen that. The Core number, though, was up stronger than expected. Thursday the weekly jobless claims went 7000 to 275,000....
Have You Been Turned Down for a Loan?
Last year Mike was turned down for a loan because he wrote off too many expenses on his tax return. He also had had 3 months off because of an injury, and as a union worker did not get paid for that time off. He could have lowered the interest rate from 4.99% to 3.99...
True or False: You Need 2 Years of Tax Returns to Qualify?
FALSE! At times Fannie Mae and Freddie Mac’s automated underwriting system (DU and LP) will calculate that a borrower has good enough credit or enough equity or enough cash reserves where they find this borrower is low risk and therefore only needs to present 1 tax...