Archive for the 'New Home Loan' Category

Mortgage nightmares to avoid

Published by Gina Pogol on October 22, 2010 in New Home Loan . 0 Comments

Since Halloween is coming up, I thought it would be a good time to do a post about mortgage credit nightmares and how to avoid them. These are true stories although the names have been changed to protect the stupid.... Haunted by the past Bill was a smart guy with a great job and decent credit. He ...

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Hard Money More Popular as Bad Credit Mortgages Tougher to Find

Published by Gina Pogol on September 15, 2010 in New Home Loan . 3 Comments

Found the deal of a lifetime, but can't finance it? There are a lot of real estate bargains on the market in some locations. Foreclosure sales, real estate owned by lenders, and short sales clutter up the property listings in distressed parts of the country. While ferreting out a killer bargain isn't easy, it can ...

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Who Should (and Who Shouldn't!) Get a Bad Credit Mortgage

Published by Gina Pogol on August 02, 2010 in New Home Loan . 0 Comments

Sub-prime or bad credit mortgages are life savers for the right kind of borrower and unmitigated disasters for the wrong kind of borrower. Here is a list of characteristics of the borrower for whom a bad credit or sub-prime mortgage might be appropriate: 1. You can afford the higher interest rate. Bad credit lenders have been ...

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FHA Reform: Can You Really Get a Loan with a 500 Credit Score?

Published by Gina Pogol on July 19, 2010 in New Home Loan . 0 Comments

All the hype over FHA's "reforms" is missing a few facts. Yes, FHA now requires a 580 or better credit score if you want to put 3.5% down instead of 10%. And yes, those with scores less than 500 are now ineligible for FHA financing. But have things really changed in practice? No, they have ...

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Need a Down Payment for Mortgage? Individual Development Accounts Can Help!

Published by Gina Pogol on July 06, 2010 in New Home Loan . 0 Comments

Individual Development Accounts, or IDAs, were designed to fight poverty and help people of modest means get an economic foothold in society. Read on to see how these accounts work and if one might help you quickly save a down payment for a home. Individual Development Accounts (IDAs) are special savings accounts for low-to-moderate income ...

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Study: One More Reason to Shop for Mortgage Before Shopping for Home

Published by Gina Pogol on June 07, 2010 in New Home Loan . 0 Comments

A couple of George Washington University instructors discovered a big reason that people who buy new homes may regret the mortgage choice they make. The phenomenon is called "cognitive resource depletion," but that fancy phrase just means that once you have broken your brain searching out your property, you lose the ability to make smart ...

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Now You Have to Pass TWO Credit Checks

Published by Gina Pogol on June 07, 2010 in New Home Loan . 0 Comments

Like it wasn't bad enough getting ONE bad credit mortgage approval, explaining away the time your roommate borrowed your card to buy a keg and didn't tell you, the missed car payment because Nordstrom's twice-a-year shoe sale comes only, well, twice a year, and being forced to pay an old collection for the check you ...

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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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  • Capsiplex: Interesting idea, where can I learn more about this?
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  • Robin: If you have a bad credit history still the loan market place is full of lenders who are ever willing to offer you a...
  • Laura: similar situation to Crystal above. Except, our FHA mortage was included in BK, but we have kept the payments up and...
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