Ethics In the Mortgage Industry
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Ethics In the Mortgage Industry

Recently in an open discussion a mortgage broker I know  Fred Glick said, “I just had a wholesale mortgage lender call and tell me proudly that his company approves FHA loans a credit score as low as a 545.” “I explained to him that when people with such low credit ratings get these loans and…

When renters need restrictions but fault the landlord’s morals for taking advantage of a good situation

When renters need restrictions but fault the landlord’s morals for taking advantage of a good situation

Recently, I was going through some receipts from our rental property sent from our rental tenants and scanning them in for our property in San Diego, California. As we were strapped for cash, due to our wedding and major medical bills, and we lacked time and had health issues, our original tenants moved out causing…

Some Foreclosure “Victims” are Cheating the System

Some Foreclosure “Victims” are Cheating the System

I’ve heard of and witnessed home owners, going into foreclosure, living in their homes for two to six years without paying one mortgage payment, laughing how they are living for free, and milking the system. By simply doing a search on the Internet for specific tactics of prolonging the foreclosure process, testimonials will point out…

Would you rent to these folks? – In Any Rental Market = NO

Below is an actual email I received for a rental property I have listed. Needless to say I didn’t consider responding and wouldn’t event in a bad rental market with their credit. Hello. My mother and I need an apartment. We are clean and quiet. The problem is the fact that our credit got messed up…

What kind of credit score do you need to buy a home? Our credit is 640, can we buy?

What kind of credit score do you need to buy a home? Our credit is 640, can we buy?

Thank you for your email. My first suggestion is clean up your credit rating and become more financially responsible.  It will help our entire Nation Currently some lenders will lend to people with 620 credit score and above to buy a home.  On the street the news is Wells Fargo is doing to 580 but this is not confirmed….