Bad Credit? Orlando Credit Repair made accessible…

As an Orlando mortgage broker that has weathered the storm of the mortgage meltdown, I have unique insight on the need for bad credit repair in today’s “New World” of Orlando real estate financing. As the mortgage ‘box’ has gotten smaller and smaller, something simply needs to be done to keep people in a position where they can get into homes.

Lenders have increased score requirements [at least for the time being], so how do these masses of people qualify for homes in the short term?

The answer, ethical Credit Repair! As a licensed mortgage broker, I had always distanced myself from credit repair because I felt that it was

• A rip-off and a waste [or even worse, illegal]

• Going to cost the consumer $3000!

Neither of these options were acceptable to me. The rip-off was out for obvious reasons, and the cost of $3000 wouldn’t work because in most cases, if they had $3000… they wouldn’t be in the scenario they were in! Hello…

That is where FLCreditFix.com came in. After doing some digging around, I found a place that is quite reasonable in their service offering and I have seen some pretty spectacular credit repair results.

Now, no one can guarantee that any one item will be taken off your credit report… but Florida Credit Fix, through their affiliation with Fix Credit Biz, does guarantee their service so if you do not see a significant improvement in your credit… you get your money back. 100% Refund if your Bad Credit isn’t improved upon.

As a Mortgage professional, it became somewhat of a no-brainer in order to be able to help people get back into the mix and get decent terms on a mortgage again.

When you couple Credit Repair with Orlando FHA Loans, people are simply able to get back into the housing market and buy a beautiful home again.

Chris

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Written by Chris Brown, an Orlando Loan Officer. For more information about purchase loans or refinances on primary residences or investment properties, please contact me directly @ 407-377-0500 x 210.

Wake up Orlando Real Estate: Fannie Mae cuts Mortgage Loan Fees

Okay, FHA Loans are only 90% of today’s market… conventional loans DO still exist.
In an effort to provide “the most market support possible”, one of our beloved GSEs, Fannie Mae, is slicing one of its standard loan fees by 0.25%.

Fannie Mae introduced their, [Good Lord, who thinks up these names…] Adverse Market Delivery Charge in December 2007 to help in offsetting the foreclosure losses. The initial fee was a quarter-percent of the amount borrowed.

As things got worse, Fannie Mae said, ‘you know what, let’s double it!’ and they changed that fee to 0.5% percent in August.

Now, we are back where we started the fee is back to its starting point. The good news here is, if you are debating an Orlando refinance, now maybe a good time to make the move. It is true that the credit guidelines are a bit more strict, so more of you may be in need of Orlando credit repair. If that is the case, let me know. Bad credit can be addressed if you have a large enough reason.

Since the beginning of this year, Fannie Mae has made 21 separate changes to its mortgage guidelines. I gotta use toes to count that high…uh oh… I am out… good, 21… they are all there. Anywayyyy, most of these not been beneficial to borrowers. They increase the difficulty, or the cost, of qualifying for a conforming home loan for most folks.

Friday’s change is among the very few that are “good news” For Orlando home buyers.

Friday, mortgage pricing edged higher because of the – at the time – looming Congressional vote and Wall Street’s reaction to the weak jobs report.

The good news is that price changes could have been worse. In this case, the flip-flop helped the cosumer. Fannie Mae’s Adverse Market Delivery Charge change is keeping rates from rising as high as they might have otherwise risen.