Florida Mortgage: The Perfect Refinance
The Good Old Days Ah, remember the good old days when the Federal Funds rate was 1% and the Prime Rate was 4%? This was the case in 2004. It’s amazing what a couple of years can do. The change began in June of 2004 with the first of the Federal Reserve rate hikes. We didn’t know it at the time but that rate increase was to be the first of many. By June of 2006 the Federal Reserve had increased the rates seventeen times. The Beginning of the End As interest r...
[Posted: 2010-01-14 21:50:07]

Florida Mortgage Broker Shares His Thoughts!
Florida Mortgage Broker Shares Some Thoughts   Jim Kemish, the president of Power Mortgage ...
[Posted: 2010-01-14 21:50:07]

Florida Mortgage: Negative Amortization and Interest Only Mortgages
Florida Mortgage Broker Discusses Negative Amortization and Interest Only MortgagesFlorida mortgage broker Jim Kemish is the president of Power Mortgage Corp located in Delray Beach, Florida...
[Posted: 2010-01-14 21:50:07]

Why Credit Repair is Needed
Credit Reporting is a Massive Job The credit bureaus currently compile, sort, and sell credit data on over 200 million Americans. Before this data is compiled by the credit bureaus it has to be generated by countless creditors such as credit card companies, auto loan, and mortgage servicers. Each of these creditors has their own system of processing and recording your payments. The amount of data being managed is staggering. It is not surprising that there are...
[Posted: 2010-01-14 21:50:07]

Credit Repair Steps to Success
Introduction I’ve spoken to thousands of people over the years about their credit. I’m often asked to explain the steps that should be taken to remove errors from credit reports. Here is a step by step guide that will produce results if followed carefully. The content of your credit report has a major impact on the quality of your financial life. The efforts that you make to improve your credit will pay significant dividends. Good luck! Get Copies ...
[Posted: 2010-01-14 21:50:07]

Credit Repair: The Truth About the Credit Bureaus
Not a Friendly Service In a recent blog entry I wrote, “Significant legislation has been enacted to protect you from the impact of the credit bureau’s inaccuracies. The right that you have to receive copies of your three credit reports for free on an annual basis is not a friendly public service by the credit bureaus. The bureaus have been required to provide this service as one of the protective measures in...
[Posted: 2010-01-14 21:50:07]

Florida Mortgage Broker Discusses Interest Only Refinance Options
Adjustable Rate Mortgage Popularity Over the last five years almost forty percent of all home buyers selected adjustable rate mortgages. In early 2004 signs of inflation begin to appear. These indications pressed the Federal Reserve into action. From June 2004 to June of 2006 the Federal Reserve increased the Federal Funds Rate 17 times. The impact of these increases was to push up the short-term mortgages indexes that determine the target or fully indexed rate on t...
[Posted: 2010-01-14 21:50:07]

Credit Repair Made Easy
The Benefits are Amazing The content of your credit report can have an enormous impact on the quality of your life. Your credit score will determine the cost of your mortgage, your automobile payments, and your credit cards. An improvement in your credit score could potentially save you thousands of dollars per year. Overcoming Your Fear It is normal to experience a degree of fea...
[Posted: 2010-01-14 21:50:07]

Credit Repair: The Power of Post Bankruptcy Cleanup
Your Post Bankruptcy Credit Report Have you had a bankruptcy discharged? If you are like the vast majority of our post-bankruptcy customers you still have damaging derogatory information lingering on your credit report. This is not necessary. Once your bankruptcy is behind you it is time to take action. The law and the credit bureaus (believe it or not) are on your side. Take advantage of the opportunity. An int...
[Posted: 2010-01-14 21:50:07]

Credit Repair and Financial Freedom
Your Credit On the day that you decide to set foot on the path to financial freedom you should take a good hard look at your credit reports. The content of your credit will determine your credit scores. Every one of the building blocks of your financial plan is important. But if you ignore your credit every single large obligation in your life can end up costing far more than it should. Credit Re...
[Posted: 2010-01-14 21:50:07]

Credit Repair: The Cost of Errors
Credit Report Errors Mean Consumers Lose In 1998 the Federation of State Public Interest Research Groups (PIRGs) published a now famous report called, Mistakes Do Happen: Credit Report Errors Mean Consumers Lose. This report detailed the results of the PIRGs sixth study on the accuracy of credit reports. The results, in their words, were troubling, and revealed that an alarming number of credit reports contain serious errors. Here are some of the highpoints (or low po...
[Posted: 2010-01-14 21:50:07]

Florida Mortgage Broker Discusses Patience
It’s Your Life If you plan to purchase a home in the near future, or if you are planning to refinance your current mortgage, you should understand the importance of the decision that you are about to make. The word mortgage is derived from two French words. The first word MORT means death, and the second word GAGE means pledge. Together they mean, in effect, that you are about to enter into a death pledge. This sounds a bit grim and may overstate the gravity of th...
[Posted: 2010-01-14 21:50:07]

Credit Repair: Tricks of the Trade
Great Credit is Within Reach The benefits of great credit are significant. The effort that you put into improving your credit score will be well rewarded. Here are the some powerful credit repair strategies that can produce dramatic results in a short period of time. Check Your High Credit Limits The relationship between your current balance and the available credit limit on each...
[Posted: 2010-01-14 21:50:07]

Credit Repair: The Final Word
It's Your Life The financial benefits of good credit are significant. Perfect credit, of course, doesn’t mean that you won’t have to get up and go to work every day. But it will mean that you won’t have to work as hard to cover your monthly bills. Poor credit can easily mean that you will pay twice as much for every dollar that you borrow as you would if your credit were perfect. When you stop to add up the numbers including your mortgage, your auto payments, a...
[Posted: 2010-01-14 21:50:07]

Florida Mortgage Expert Shares Inside Tips
An Ounce of Prevention Do you plan to purchase a home soon? Are you thinking of refinancing your mortgage? These tips could end up saving you thousands of dollars. You will probably spare yourself a few major headaches as well. You work hard for your money. Now is the time to make that extra effort to insure that you get the best home mortgage that you can! Curb Your Spending Nobody likes to hear this one, but there are a few big rea...
[Posted: 2010-01-14 21:50:07]

Credit Repair: What Not To do!
Beware of Store Cards Department stores love to push their credit cards by offering a discount on your purchase if you sign up on the spot. This can be a good deal. But it is handy to know that store cards create triple trouble on your credit report. First, your score will be reduced because of the inquiry. Second, your score will be reduced because of the new account that will soon appear on your report. And third, store cards tend to give a low credit line, often ju...
[Posted: 2010-01-14 21:50:07]

Your Credit Score: The Essential Facts
Who are the credit bureaus? I have managed a Florida mortgage company since 1989. We are also licensed Georgia mortgage brokers, Virginia mortgage brokers, and Massachusetts mortgag...
[Posted: 2010-01-14 21:50:07]

Mortgage Tips: How to Save Thousands of Dollars
Let's Get Started Educate yourself. Get several quotes. Mortgage brokers will generally offer a better deal than a bank, but it doesn’t hurt to call a bank or two for comparison as well. A good loan originator will spend as much time with you on the phone as you need. And a truly professional loan originator will ask enough questions to understand your goals. If you don’t feel good about a conversation, trust your instinct; cross them off your list and move on....
[Posted: 2010-01-14 21:50:07]

The Florida Mortgage Credit Crisis
The End of the Subprime Industry In late 2006, as real estate values continued to fall, the subprime lenders that made it possible for these borrowers to own homes begin to shut down. Within a period of 90 days between December of 2006 and March of 2007 the entire subprime industry as we knew it, vanished. And as these lenders either shut down or tightened their guidelines, millions of potential homeowners have discovered that they don’t qualify for mortgage financi...
[Posted: 2010-01-14 21:50:07]

Florida Mortgage: First Time Home Buyers Rejoice
The End of an EraIn October of 2006 the subprime home loan industry begin to break down. Wall Street investors, monitoring the default rates of mortgage portfolios and concerned about the continuing drop in real estate prices nationwide decided to stop purchasing subprime loans. By March of 2007 the entire subprime industry as we knew it was gone.The PastFirst time home buyers had taken advantage of the easy guidelines offered by these lenders and had flocked to t...
[Posted: 2010-01-14 21:50:07]

Credit Repair: Common Questions
The Importance of Your Credit Your credit score will determine the interest rate that you are charged on everything from your credit cards to your mortgage. No other single bit of data has such a dramatic impact on the quality of your life. Nothing is as important, and yet credit scoring is widely misunderstood. Here are answers to some of the most common questions that we are asked. When Did Credit Scoring Start? In the 1950s two Stanford University researchers, engin...
[Posted: 2010-01-14 21:50:07]