Archive of posts tagged approve

Proposed Bill to Speed Up Short Sale Process and Prevent Foreclosure

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To avoid losing homes to foreclosure due to long response times for short sale transactions, three senators introduced legislation to speed up the short sale process. Senators Lisa Murkowski (R-Arkansas), Scott Brown (R-Massachusetts), and Sherrod Brown (D-Ohio) proposed the bill addressing the issue of short sales timelines on February 17. A short sale is a …

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Four ways to avoid refinance rejection

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“My application to refinance my $200,000 loan was recently turned down … do I have any recourse?” If by recourse you mean a third party of some standing who will direct the lender to make the loan, or attempt to persuade them to do it, the answer is “no.” No third party is going to …

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Avoid credit dings when mortgage shopping

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Borrowers in distress often contact many lenders hoping to find one who will approve them. For this reason, multiple inquiries can have a negative impact on a consumer’s credit score. But multiple inquiries can also result from loan applicants shopping for the best deal. The challenge to the scoring system is to distinguish borrowers in …

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5 Steps to First-Time-Buyer Happiness

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The first step in the home-buying process is to find out what you can afford to pay for a house, condo or co-op. This will depend on the amount of cash you have available for a down payment, your credit, income, assets, and overall financial situation. Mortgage qualification is easier for buyers who work as …

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