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Author Archive for Gina Pogol

Bad-credit mortgages return

Why is it so hard to get a home loan if you have bad credit? Blame the government behemoths that control 90 percent of American mortgage financing.

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Credit cards: How many should you have?

If you're about to apply for a home loan and have bad credit, you're probably trying to find ways to raise your credit score before you do. Is there an ideal number of credit cards to maximize your credit score? And is there such a thing as too many credit cards?

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Debt consolidation done right

Debt consolidation through a refinanced home loan can offer a tempting promise -- the exchange of your maxed-out credit cards for a clean slate. The trouble is, consolidating debt with a refinance doesn't reduce it by a cent. It just moves your balances to your mortgage lender.

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Higher FHA loan limits extended

For poor credit mortgage borrowers, the Federal Housing Administration (FHA) offers government-backed loans that are often a better deal than non-government loans. That's why it was news when, in October 2011, temporary loan size increases -- authorized by Congress in 2008 to help relieve the effects of the housing crisis -- expired.

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Can you get a mortgage if you're in credit counseling?

If you are managing your debt with credit counseling or a debt management plan, will that count against you in the mortgage qualifying process?

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New year, new mortgage: Refinancing when underwater

Upside-down homeowners with bad credit may be able to refinance to today's rock-bottom mortgage rates, thanks to a relaunched government program known as HARP. Here's what you need to know to apply.

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FHA loans: Avoiding one big mistake

There have been approximately 500 changes to FHA mortgages in the past three years. Lenders that aren't very familiar with FHA loans may make mistakes -- so avoid relying on non-experts for your FHA mortgage.

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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.

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