Friday, January 02, 2009
I am dedicating my blog to credit scoring in 2009. The mortgage meltdown has dramatically increased the minimum credit requirements needed for a conforming conventional mortgage. Understanding how to achieve AND keep the best credit scores now is paramount.
| Posted by Eric Leigh at 8:31 AM |
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Tuesday, December 16, 2008
We have been building up to this economic crisis for some time now. Until we finally change our ways as a consuming nation...we will be destined to have the same problems we have now over and over and over and over and...
| Posted by Eric Leigh at 7:31 AM |
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Friday, November 14, 2008
No one person or entity caused this problem by themselves...the blame has been spread widely.
| Posted by Eric Leigh at 9:00 AM |
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Thursday, November 06, 2008
Obviously, I'm not advising President Bush, President-Elect Obama, Secretary Paulsen, or anyone else that is involved in the various levels of the Economic Stimulus packages and where the money is being spent. But, if I were...I would send economic stimulus DIRECTLY to the housing sector. How would I do it?
| Posted by Eric Leigh at 9:30 AM |
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Thursday, October 09, 2008
President Bush signed the Financial Rescue Plan into law on Friday, October 3rd. I'll review some of the components that relate to the housing and mortgage market.
| Posted by Eric Leigh at 6:21 AM |
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Friday, September 12, 2008
When the U.S. Treasury placed Fannie Mae and Freddie Mac in conservatorship on Sunday, September 7, taxpayers essentially became shareholders in the compaines. So...what does this mean going forward?
| Posted by Eric Leigh at 9:51 AM |
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Monday, August 18, 2008
HR 3221 makes some big changes to the way the mortgage industry works and operates. I have summarized some of the main changes and provisions in this blog.
| Posted by Eric Leigh at 3:29 PM |
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Wednesday, July 30, 2008
So, President Bush withdrew his veto threat, and signed the housing bill into law early this morning. Outside of the politics that he is playing with the Democratic controlled Congress (interesting in and of itself), let's review what the bill provides.
| Posted by Eric Leigh at 8:39 AM |
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Tuesday, July 15, 2008
The strong economic forces of supply and demand are taking a back seat to the speculative investor.
| Posted by Eric Leigh at 4:59 AM |
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Wednesday, July 02, 2008
Depending on who you ask, you will get a different answer. You need to understand how Private Mortgage Insurance companies view our area...your LTV on your mortgage depends on it!
| Posted by Eric Leigh at 8:17 AM |
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Tuesday, June 10, 2008
SCENARIO -- You are upside down in your current home's mortgage, and are considering trying to "short sell" your home to avoid foreclosure. Think again!
| Posted by Eric Leigh at 8:05 AM |
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Thursday, May 22, 2008
If you are an existing homeowner, the drop in home values in our country isn't really bad unless you are trying to sell. Think TAXES!!!
| Posted by Eric Leigh at 8:20 AM |
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Thursday, May 08, 2008
Waiting for the bottom line in the housing market could be a mistake. Read on to see why.
| Posted by Eric Leigh at 8:16 AM |
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Tuesday, April 22, 2008
The housing correction, which is helping to lower prices for homes in urban areas, has commuters smiling!
| Posted by Eric Leigh at 8:15 AM |
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Monday, April 21, 2008
Did you know that the Federal Reserve DOES NOT set the rate most borrowers get on their mortgages? Stop being misled by the media; read on to see how rates really are set, and what makes rates move!
| Posted by Eric Leigh at 9:38 AM |
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Wednesday, April 09, 2008
Even if you pay your bills on time each month, there are several things you may be doing that can hurt your credit score. Don't make these mistakes!
| Posted by Eric Leigh at 2:30 PM |
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Friday, March 28, 2008
It is not only the mortgage broker who is taking heat and getting hurt these days as we watch the sub-prime housing crisis unfolding before our eyes.
| Posted by Eric Leigh at 6:00 AM |
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Thursday, March 20, 2008
What would you do if you lost your job? Had a major medical expense come up? Your home's equity is one of your best lines of defense!
| Posted by Eric Leigh at 5:31 AM |
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Tuesday, March 18, 2008
The Federal Reserve cut rates today for the sixth straight time since September. So, what does this mean to mortgage rates?
| Posted by Eric Leigh at 2:13 PM |
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Thursday, March 06, 2008
Who really makes the decisions on mortgage programs and availability of credit for most mortgages? Will 100% purchase financing go away? Read on to learn more!
| Posted by Eric Leigh at 8:58 AM |
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Friday, February 22, 2008
Are you, or is someone you know, trying to sell their home...but is upside down on the mortgage? If so, there is a plan in the works that can help you avoid a short sale or foreclosure.
| Posted by Eric Leigh at 8:27 AM |
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Thursday, February 14, 2008
Most people know that the mortgage interest they pay on the mortgage they used to purchase their home is tax deductible. Some people also DON'T KNOW about this tax deductions!
| Posted by Eric Leigh at 5:11 AM |
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Tuesday, February 05, 2008
So, you mean it is harder to get a mortgage now than two years ago? ;-)
| Posted by Eric Leigh at 5:10 AM |
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Monday, January 21, 2008
Good credit scores have just become even more important to getting a competitive interest rate on your next mortgage.
| Posted by Eric Leigh at 10:23 AM |
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Tuesday, January 08, 2008
With homes currently selling at a much slower pace than in recent years, many homeowners have relegated themselves to just waiting on the market to change. Perhaps a re-model of their existing home should be considered?
| Posted by Eric Leigh at 8:48 AM |
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Monday, December 10, 2007
With a record number of listings available for sale in the Treasure Valley, perhaps it is time for homeowners to consider becoming landlords.
| Posted by Eric Leigh at 4:43 PM |
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Monday, November 26, 2007
A friend of mine recently shared her identity theft scare with me. Her bank notified her of several attempted purchases in Ethiopia and a renters insurance premium charge that was applied to her debit card in Nevada. She didn't lose any money and the credit card company didn't approve the charges. Nevertheless, she was scared! She encouraged me to notify my clients about identity theft and how it can happen to ANYONE and ANYWHERE...even here in little Nampa, Idaho. What can you do to limit your risk? Here are some self-defense strategies for you to consider...
| Posted by Eric Leigh at 8:58 AM |
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Tuesday, October 23, 2007
Gone are the times where mortgage lenders handed out loans to home buyers with no proof of income and no money down. Lending standards have tightened substantially, making it more difficult to obtain mortgages at reasonable rates. What you need to know about this market...
| Posted by Eric Leigh at 6:39 PM |
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Monday, October 15, 2007
This is the last article in a four part series on credit scoring.
| Posted by Eric Leigh at 8:43 AM |
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Monday, October 01, 2007
This is the third article in a four part series on credit scoring. Today, we will address challenges and barriers that may exist in a person's credit profile that is limiting them from raising their credit score up to those top tiers with the best rates and terms.
| Posted by Eric Leigh at 2:10 PM |
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Monday, September 24, 2007
This is the second article in a four part series on credit scoring. Most consumers know that if they pay their bills on time, then that is good for their credit score. What most consumers DO NOT know is that paying bills on time accounts for ONLY 35% of their entire credit score! Where does the rest of your credit score come from?
| Posted by Eric Leigh at 8:41 AM |
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Monday, September 17, 2007
This is the first in a four part series on credit scoring. With the recent sub-prime mortgage fallout and credit crisis we are experiencing, your credit score now is more important than it has ever been! These blog entries will explain to you what you need to know to make sure your credit situation is in top shape.
| Posted by Eric Leigh at 8:25 AM |
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Monday, August 27, 2007
In this challenging mortgage market, homeowners need to be careful to compare loan programs correctly. The Annual Percentage Rate (APR) is a tool that consumers can use as a starting point to compare loan programs...as long as it is used appropriately. Read on to learn how!
| Posted by Eric Leigh at 3:16 PM |
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Monday, August 20, 2007
The Federal Reserve has taken significant action in the last few weeks due to the credit crunch. And now they've made an unexpected move by cutting the discount window rate. This is great news, but what does it really mean?
| Posted by Eric Leigh at 9:06 AM |
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Monday, July 30, 2007
Fixed? Variable? ARM or Negative Amortization? Or Interest Only? With so many mortgage products available for homeowners, it can get overwhelming very quickly when deciding on the correct product that fits your needs. Here are some things to consider.
| Posted by Eric Leigh at 3:07 PM |
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Monday, July 16, 2007
So what if the Federal Reserve raises interest rates! Sure, it makes the cost of borrowing on your credit cards and home equity line of credit more expensive. However, did you know that the Prime Rate has very little to do with the mortgage rate that you will get approved for on your next mortgage? Read on to see what really sets that mortgage rate!
| Posted by Eric Leigh at 8:01 AM |
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Thursday, July 05, 2007
Do you have a home for sale that just isn't selling? Or are you in an ARM that just started adjusting, and the higher 30-year fixed rate isn't the right program for you? If so, then perhaps some strategic financing is in order for you!
| Posted by Eric Leigh at 8:31 AM |
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Monday, June 25, 2007
Do you know what really happens after your credit report is pulled by a mortgage loan originator? You may be shocked!
| Posted by Eric Leigh at 1:22 PM |
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Tuesday, June 12, 2007
The Bond & Home Loan Markets Are In Turmoil. Is Your Financial Future Secure?
| Posted by Eric Leigh at 3:00 PM |
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Saturday, June 09, 2007
The real estate market typically heats up during the summer months. This year, however, with the subprime correction in full swing, the National Association of REALTORS is predicting a slight pullback in speculative buyers that could lead to a downshift in the entire real estate market. Read on to see what you should know and expect during the coming months!
| Posted by Eric Leigh at 11:25 AM |
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Tuesday, May 29, 2007
How often do you expect our government to give you a handout? Well, when it comes to your home and the fees and interest associated with it, you're in luck! Read on to see if you are taking advantage of all the possible tax deductions you can. It pays to pay attention!
| Posted by Eric Leigh at 9:20 AM |
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Wednesday, May 16, 2007
Did you know that Private Mortgage Insurance (PMI) payments on your new mortgage loan can now be deducted on your income taxes? This "expensive" mortgage add-on isn't really so expensive!
| Posted by Eric Leigh at 1:09 PM |
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Tuesday, May 08, 2007
So, what the heck goes into determining the value on a home appraisal? Maybe you're thinking to yourself, "Why didn't those new cabinets I installed add any value to my home?" Well, look no further...your answers are waiting here!
| Posted by Eric Leigh at 9:42 AM |
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