Credit Scoring

Credit Score- a mathematical model, can make you or brake you. It is a lenders table of measure and should be your main concern if you care about  your money. The score can determine the fees, interest rates and terms you will be offered, or not.
Remember the following:
35% The Way You Pay
Your credit history is [...]

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Credit Report. Get it!

So many people are being affected by the credit crunch these day’s, I thought a reminder that you can get your credit report for free from the three leading credit reporting companies  would be in order.

Go to it. http://annualcreditreport.com/
P.S. Don’t fall for the subscription pitches if you don’t need the additional services.
For professional advise on [...]

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Market Snapshot

Secondary Market
6/15/2007 11:18:00 AM Fannie Mae (Subject to change)

Agencies

 30-Day
60-Day
90-Day

FHLMC

  6.53%
6.57%
 

Fannie Mae

  6.69%
6.71%
 

Weekly Indicies

 

 

06/08/07

06/01/07

6 Month CD

  5.35%
5.34%

1 Year T-Bill

  4.98%
4.96%

2 Year T-Note

  4.99%
4.92%

3 Year T-Note

  4.98%
4.88%

5 Year T-Note

  4.98%
4.86%

10 Year T-Note

  5.02%
4.90%

25+ Year T-Bond

  5.12%
5.02%

Monthly Indicies
 

 

Jun 
May

11th Dist. COFI

4.224%
4.299%

6 Month LIBOR

5.384% 
5.358%

1 Month LIBOR

5.321% 
5.320%

MTA Index

5.022% 
5.029%

Other
 

Prime Rate

8.250% 
  

Fed. Funds Rate

5.250%

Discount Rate

6.250% 

12 Month LIBOR

5.490%  (daily)

Don’t know what to do with your money? [...]

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Mortgage rates continue to rise

                                                                      Graphic Courtesy MSNBC
Up slightly from 6.37 percent last week and represented the highest point for 30-year mortgages since they averaged 6.43 the week of Sept. 14.
For professional advise on all aspects [...]

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The lending hand has tightened up.

In the great old days of real estate between 2001 and 2005 people in the know and with the means, would buy as much property as possible, finance with little or nothing down and then make the smallest allowable monthly payments. Well, that’s exactly what you are supposed to do when the going is good and prices [...]

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Reverse Mortgages

Because Coral Gables is a notable Reverse Mortgage Market, and is also becoming more popular throughout, I’de like to provide you a little bit more information on the subject.
Until recently Reverse Mortgages were not available for the purchase of homes.That’s changed. 
Reverse Mortgages are now being offered for both new and resale properties.  The only restriction is that [...]

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The Sub-Prime Club

Welcome to the subprime club. It’s buyer beware in here!
How can one join the club you might ask? Just let your bills become overdue. You will get to a 600 FICO score and below in no time.
Perks:
Lenders (most) will love you because you will end up paying  more for the money you borrow. (Don’t waste your time with large [...]

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