If you are ready to put down roots and start the home-buying process, you will also need to start the mortgage process. To determine whether you are eligible for a mortgage and how much to set your budget, lenders immediately pull your credit report. Lenders don't usually approve mortgages for buyers with low credit scores, accounts in collections, or a history of many missed payments. Even if you do get...
Steve Lupton of MetroCities Mortagage just shared this take on our current "credit crisis" to help you understand WHY. "The Chinese have a proverb: "May you live in interesting times." And we are living through interesting times indeed.Whatever the political posturing regarding the rescue plan, a plan needed to be passed. Credit markets are frozen and banks are going bust every day. This is not totally...
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