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  • Indie Filmmakers Swipe Their Way to Success

    by Sally Maison
    Indie Filmmakers Swipe Their Way to Success

    Being an independent filmmaker means having to film your own movie and cover its expenses at the same time. Often, amateur moviemakers have to max out tons of credit cards and push their credit scores to their limits just to produce a film. However, with the support they are getting from the public, they know that it is all worth it. David Spaltro did not just max out 4 credit cards when he was filming Around: Embrace the Fall—he had … (more) January 25, 2010

  • FHA Commissioner Still Mulling Over Minimum Credit Score, Other Requirements

    by Sally Maison
    FHA Commissioner Still Mulling Over Minimum Credit Score, Other Requirements

    Twenty five years ago, David Stevens, was able to buy his first home with only 3 percent down payment even if he did not have money in the bank. It was simply because his loan was backed by the Federal Housing Administration (FHA), the same agency he is leading right now. A few years ago, lax lending standards allowed many homeowners with little bank money and low credit ratings to avail FHA-backed loans. However, today, the current FHA commissioner is … (more) January 24, 2010

  • Connecticut Town Sees Better Real Estate Market Ahead

    by Sally Maison
    Connecticut Town Sees Better Real Estate Market Ahead

    The new FHA credit score requirement may hinder many homebuyers from getting federal-backed loans, but a Connecticut town is positive that it will see better performance from the housing market this year. Wilton, CT. realtors recently conducted an informal survey which shows sellers are optimistic that market sales will go up in 2010. Realtor, Mary Bozzuti Higgins, noted that prices are more stable now, and expects to see huge improvements by spring. She said she already knows what to expect … (more) January 23, 2010

  • New York Mortgage Lender Subpoenaed by HUD for High Default Rates

    by Sally Maison
    New York Mortgage Lender Subpoenaed by HUD for High Default Rates

    A New York-based mortgage lender which issues government-backed loans is among the 15 companies recently subpoenaed by the HUD for their high default rates and lax lending standards. These lenders were reported to have low credit score requirements and clients at high default risks. Sterling National Mortgage Co., Inc., based in Great Neck, NY, is one of the 15 FHA-backed mortgage companies subpoenaed by the Housing and Urban Development (HUD) last Tuesday, Jan. 12. The subpoena is part of an … (more) January 22, 2010

  • New Mexico Homes Open for Buyers, but They Need to Check Credit Score First

    by Sally Maison
    New Mexico Homes Open for Buyers, but They Need to Check Credit Score First

    Las Cruces is one of the most popular places to buy a house in New Mexico. People who look for homes in the city have stable income and enough money in the bank for their down payment. But industry specialists note that some of them do not check their credit rating before looking for a house, which drags their mortgage application. Some homebuyers, who have cash in hand and a good income alongside, are now left wondering whether they would … (more) January 21, 2010

  • Small Biz Owners Rejected Despite High Credit Ratings

    by Sally Maison
    Small Biz Owners Rejected Despite High Credit Ratings

    Maureen Isern is not new to production. She had earlier stints with MTV and CBS. But a couple of years ago, she decided that it was time to continue her TV production completely on her own. In 2007, she started Moped Productions in her apartment. Drawing out funds from her savings and her credit card, the multimedia firm was able to withstand the shaky economy and Isern thought, last year, she it was about time to expand it. To her … (more) January 20, 2010

  • St. Joseph, MO Residents Face Huge Credit Score Problems

    by Sally Maison
    St. Joseph, MO Residents Face Huge Credit Score Problems

    Angie used to have a solid savings account which made if quite easy for her to maintain a top-tier credit score. But having two kids as a single woman did not prove to be that easy during the economic downturn. Soon enough, Angie dried up all her savings. This woman who refused to have her last name published said she had a credit rating that was high enough to make her qualify for a credit card with a $20,000 limit. … (more) January 19, 2010

  • Changes in Credit Score Strong Reason to Check Auto Insurance

    by Sally Maison
    Changes in Credit Score Strong Reason to Check Auto Insurance

    People do realize how important it is to have auto insurance. But during these tough economic times, it has also become important to have more affordable policies. With many carriers charging consumers according to how risky they appear, industry specialists say it is imperative for policyholders to review their insurance whenever there is a significant change in their credit ratings as it will most likely affect how much money they will have to get from their pocket. Changes in lifestyle … (more) January 18, 2010

  • RV Dealers Moving Forward This Year

    by Sally Maison
    RV Dealers Moving Forward This Year

    Many dealers of recreational vehicles (RVs) were forced by the recession to file for bankruptcy. Those who survived had to lay off a huge number of their workforce. Additionally, they were forced to require higher credit ratings from customers. However, many manufacturers are hopeful that their industry would take a U-turn in 2010. RV dealers are seeing a brighter horizon as they edge nearer to full recovery with a perceived double-digit increase in sales this year. When recession weighed heavily … (more) January 17, 2010

  • Prices of Vacation Homes Dropped but Lending Standards Remain High

    by Sally Maison
    Prices of Vacation Homes Dropped but Lending Standards Remain High

    Creditors appear to be more willing now to refinance second homes, but experts say this is not a sign that they are lowering their standards. The recent lending trend is largely caused by the changes in the housing industry and consumers still have to get better credit scores if they want to qualify for loans or avail of lower interest rates. John Walsh says homebuyers need to remain strong borrowers even if there are more opportunities available at present. Last … (more) January 16, 2010