Welcome to Mortgage Guide
Florida Mortgage Article
. For a permanent link to this article, or to bookmark it for further reading, click here.
Strategies to Help You Get a Home Mortgage
from:You’ve heard it’s tough getting a home mortgage today, and that’s true. However, the formula for getting approval isn’t too difficult to understand and there are strategies to help you eventually get a home mortgage eventually. You just have to follow the same guidelines that the mortgage brokers will use to determine your creditworthiness to decide whether it’s time to apply for a mortgage. Even if you are turned down, what you learn from the experience will eventually help you qualify later. And, as the credit market eases in panic, you may even find yourself in a great position to buy a low-priced, quality, home with just the right qualifications the lenders are looking for in a borrower.
Your Credit Reports
If you haven’t checked your credit reports in years, do so before you apply for a home mortgage. There are three major credit bureaus that you will need to ask for a copy of your credit report: Equifax, TransUnion, and Experian. You will need to ask for a copy from each of these credit bureaus, as the information is not common between all of them. Some may have entries that others don’t and the key is to clear up all your credit reports so that your credit is sparkling clean by the time you apply for a home mortgage.
Once you receive your credit reports, check out any inconsistencies on it that might be disputed and then dispute them. You won’t get your actual FICO score when you get a free credit report, for that you have to pay. This is actually well worth paying for as the new FICO score that lenders are looking for is anything above 720. The higher your score about this number, the more leverage you have for scoring a low interest rate and favorable home mortgage terms.
Seek Home Ownership Programs
If you aren’t able to qualify for a loan right now there are agencies set up to help low-income people qualify for a home by educating them on the entire process. You will want to check out if you are eligible to participate in any home mortgage and ownership classes to help you resolve issues way ahead of time. Places to find such programs include the Department of Housing and Urban Development and your state’s Housing Finance Agency. Also check out your local yellow pages, but be aware to check the credential of any program with the state agencies so that you don’t end up being defrauded. Other issues that can be discussed in these programs are your income level, your level of debt, and your reasons for buying a home.
Florida Mortgage Specific links
Florida Mortgage News
Florida grabs a $33.4 million chunk of foreclosure settlement money for state budget
Out of $334 million in cash payments sent to Florida in a multi-billion dollar mortgage settlement with major banks, about $33.4 million will go to help bolster the state’s budget.
Read more...Fitch Rates Florida Power & Light Company's First Mortgage Bonds 'AA-'
Fitch Ratings has assigned ratings of 'AA-' to Florida Power & Light Company's issue of $600 million 4.05% series first mortgage bonds due June 1, 2042. The Rating Outlook is Stable.
Read more...Monsey man charged with swindling $292,000 from bank in mortgage scam
A 39-year-old Monsey man was charged with pocketing $292,000 from a bank after fraudulently hiding an existing mortgage on the same property, prosecutors said.
Read more...Winthrop Realty Trust Acquires Matured Mortgage Loan
BOSTON -- Winthrop Realty Trust announced today that it has acquired a first mortgage loan secured by a 326,000 square foot commercial building located in Ft. Lauderdale, Florida containing approximately ...
Read more...South Florida Lawyer Files Mortgage Fraud Lawsuit Against TotalBank and Banco Popular
Attorney John Herrera Claims Executives Falsified Loan Application Documents and Refused to Release Property Used as CollateralCoral Gables, FL (PRWEB) May 17, 2012 Prominent South Florida lawyer John Herrera recently filed a civil lawsuit charging mortgage fraud against TotalBank, Banco Popular Español, and several bank executives in Miami-Dade Circuit Court (Case #2011-13491-CA-01). The ...
Read more...