If you’ve decided that foreclosures are right for you, here are some simple tips to ensure that you get the right deal and don’t risk over-leveraging yourself. Work out a budget Map out your current financial assets and liabilities. Factor … Continue reading →

On Wednesday, February 1, President Obama presented a series of housing proposals. The primary proposal aimed at making mortgage payments more affordable for existing homeowners–particularly those struggling with underwater mortgages. It’s still a long way from approval, but if the … Continue reading →

If you put less than 15% down on a recent purchase, there’s a good chance that you owe more than your property’s current value. It’s a tough spot to be in—and tougher if you want to sell. But despite the … Continue reading →

We all know that short sales and foreclosures can hurt your credit, and bad credit hurts your chances of securing a mortgage. It makes sense. If you were unable to make your payments just last year, you’re a pretty risky … Continue reading →

The last few years have been rough on everyone. Bankruptcies, foreclosures, short sales, and unemployment have ravaged the savings and credit ratings of hard-working honest citizens, and their effects can linger. As our economy gets back to work, you may find yourself in an increasingly-common position: bad credit but good income.

Mountains of debt?

Is your credit score only hampered by past behavior, or are there current items weighing you down? If you have unpaid judgements or high revolving debt balances, you should almost always pay them down first. Doing so will increase your buying power and decrease your risk in the bank’s eyes, but it will also save you money right away. If you can hold off until you’ve paid off your most dangerous debt, do it. Continue reading →