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Monthly Archive for February, 2010

A Graceful Exit -- When You Can't Keep Your Home

Published by Gina Pogol on February 12, 2010 in Foreclosure . 0 Comments

Whether you have bad credit or not, your mortgage may have become too much for you. You tried for a mortgage modification and didn't get one. The nightmare of being hounded for payment and ultimately foreclosed on (you get your name in the paper, too) and evicted is more than you can bear. Is there ...

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Not the Best Solution: Retiree Robs Banks to Pay Mortgage

Published by Gina Pogol on February 12, 2010 in Foreclosure . 0 Comments

73-year old James Bruce found an unusual way to pay his mortgage when he got behind -- he robbed 3 banks at $600 a pop to come up with the cash. The guy probably had other alternatives -- he had run through his retirement and so he and his wife only had Social Security to ...

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You Don't Need Good Credit for a Mortgage Modification

Published by Gina Pogol on February 05, 2010 in Foreclosure . 0 Comments

And, contrary to popular belief, you don't need to be in default on your mortgage either. What you DO need is a hardship that is not your fault (and you can prove it), and enough income to make a modified mortgage payment. If you qualify for the Home Affordable Modification Program, you should apply ...

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Bad Credit? Clean it Up or Start Saving

Published by Gina Pogol on February 05, 2010 in New Home Loan . 0 Comments

If you are planning on buying a new home or refinancing with an FHA mortgage, it's going to get tougher if you have bad credit. In a few months, FHA will not let people with credit scores of less than 580 buy a home with only 3.5% down.You'll have to come up with at ...

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Is Equity Stripping X-Rated?

Published by Gina Pogol on February 05, 2010 in Mortgage Refinance . 0 Comments

Here's a mortgage scam disguised as a good deal. Your dear Great Aunt Martha calls you to crow about her new mortgage -- she cut her payment in HALF! Isn't that wonderful?! Well, maybe not. She might have just gotten stripped. What do I mean by stripped? No, the lender didn't get to see Great ...

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About Mortgage Credit Problems

Specializing in Bad Credit Mortgages… Because Life Doesn’t Always Turn Out Like You Planned. A sick child, a few late bills, or an unexpected expense can easily get you off track and your credit may suffer, but we don't think you should miss out on the opportunities available to everyone else.

Gina Pogol

Gina Pogol

About the Author:

Gina Pogol writes for an online media company about mortgage and finance. In addition to a decade in mortgage lending, she formerly consulted for Experian and other credit bureaus, and worked as a tax accountant for Deloitte. She has a BS in Financial Management from the University of Nevada.

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Recent Comments

  • Gina Pogol: Yes there is. Check any updates you get in the mail from your card issuer, and look for changes like new fee policies....
  • Gina Pogol: Ye, we heard the phrase "skin in the game" more times than we could count (although one journalist made a valiant...
  • Gina Pogol: FHA allows you to qualify for a mortgage 2 years after a bankruptcy discharge. Keep in mind though that you must...
  • Gina Pogol: Rachel, it's not that hard and fast--paying the smaller ones and letting the larger ones go--for example, always pay...
  • Gina Pogol: Alan, thanks for the question. When referring to the $7,500, we are talking about Federal income tax, not property tax....