First-Time Home-Buyers Need To Be More Flexible
By Faye Miran

I am a mortgage professional. In my position, I work with realtors who represent both buyers and sellers. One perk of having access to their information is seeing movement of the real estate industry well before it hits the headlines. We are now seeing a shift in market trends, which could place first time home buyers at a disadvantage if they don’t act fast.

For the last few years, people in the market to purchase property took advantage of a strong buyer’s market. This condition was apparent due to the high number of foreclosure and bank-owned properties flooding the market. The driving forces behind this market were the recession, high unemployment rates, restrictive lending guidelines, and a general lack of confidence in the economy. In fact, at the height of recession, a house could sit on the market for up to nine months before being sold, creating a desirable market for home buyers. Today however, it’s a different story.  
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Common Credit Report Myths

Most people have a credit report, but how many actually know what goes into them? If you listen to educators at the top three credit bureaus -- Experian, Equifax and TransUnion -- the answer is: not many.
"People don't understand what is actually included in their credit report," says Demitra Wilson, director of media relations at Equifax. Consumers will stress over details that aren't even included and will get themselves into trouble over urban myths like the tale of the magically disappearing delinquency.
It's a problem, agree educators. Here are just seven of the most persistent myths that the top three credit bureaus say they hear all the time. Read more...

Is your mortgage upside down? Help is on the way
By Faye Miran

As part of the new Federal Government’s settlement program with the nation's largest banks, $17 billion dollars have been allocated to go toward direct relief to borrowers. A big chunk of that will be used to re-write upside down mortgages.

As of March 15, 2012, the new Home Affordable Refinance Program( HARP) will take effect. HARP will make it possible for affected homeowners to refinance their existing mortgages into a fixed rate loan without some limitations which are currently in effect for regular borrowers. Read More....