Classic Real Estate

Archive for November 2nd, 2009

At some time in your life you will walk into a bank and apply for a loan or mortgage of some kind. If you live in the western world, the bank will invariably check a central credit agency in order to validate your ability to make payments on the loan that you are applying for. Your banker will tell you to relax, this is painless, as he/she reviews your credit score from the central agency. This will be the time when that critical purchase of a home or new car will cause you to silently say, Darn, I wish I knew how to increase my credit score. We have all been there and done that – some of us more times than we can count.

Still yet others mentioned tricks such as constantly querying the credit bureau and challenging them to respond to you within a period of time mandated by law. Truthfully, enough people mentioned the latter, that it appears that this somewhat underhand method has some validity in some jurisdictions.  Read more...

Being in preforeclosure on your home can be a disturbing experience. It is stressful owing to the fact that your interests compound, bills pile up, and you risk losing your home with a bad credit to boot. If you are behind in your payments on your home consider a short sale to stop foreclosure in los angeles with the help of qualified professionals before you make any other major decision.

Basically what happens in a short sale as the name implies is you sell your property at a huge discount wherein a lender may agree to execute a short sale while the homeowner is still making mortgage payments to avoid foreclosing on the home. You may still owe $100,000 on your home but the foreclosure company representative can negotiate with the mortgage company to purchase that property from you for only $80,000. This yields to a 20% discount for the buyer. However, you will still need to deal with that remaining debt.  Read more...