Comments for First-Time Home Buyer Blog http://www.cornettcommunications.com/blog Thu, 11 Mar 2010 04:12:25 +0000 http://wordpress.org/?v=2.6.2 Comment on How Does Mortgage Pre-Approval Work? by Brandon http://www.cornettcommunications.com/blog/how-does-mortgage-pre-approval-work/#comment-609 Brandon Wed, 02 Sep 2009 17:54:03 +0000 http://www.cornettcommunications.com/blog/?p=257#comment-609 Lenders often change their stance at the last minute. I am not aware of any laws that prevent them from doing this, but I am certainly not a real estate lawyer. There are federal lending laws, but there are also some that vary from state to state. So you might want to check your state attorney general's website. Lenders often change their stance at the last minute. I am not aware of any laws that prevent them from doing this, but I am certainly not a real estate lawyer. There are federal lending laws, but there are also some that vary from state to state. So you might want to check your state attorney general’s website.

]]> Comment on How Does Mortgage Pre-Approval Work? by Paul Thulin http://www.cornettcommunications.com/blog/how-does-mortgage-pre-approval-work/#comment-608 Paul Thulin Wed, 02 Sep 2009 03:17:51 +0000 http://www.cornettcommunications.com/blog/?p=257#comment-608 Does a lender have a time limit on how long they can take before giving an applicant an answer. My daughter has applied for a mortgage through a builder who has their own mortgage company...the mortgage company is a broker. She applied in April and the builder and it's mortgage company have been telling her all along not to worry she will be approved. She is supposed to close on Friday the 4th of September and just found out today she has been turned down. Other than being completely unethical, isn't there a law that FHA mortgages have to be decisioned by the lender in 30 days? Possibly a Minnesota State Law? Does a lender have a time limit on how long they can take before giving an applicant an answer. My daughter has applied for a mortgage through a builder who has their own mortgage company…the mortgage company is a broker. She applied in April and the builder and it’s mortgage company have been telling her all along not to worry she will be approved. She is supposed to close on Friday the 4th of September and just found out today she has been turned down. Other than being completely unethical, isn’t there a law that FHA mortgages have to be decisioned by the lender in 30 days? Possibly a Minnesota State Law?

]]> Comment on How Does Mortgage Pre-Approval Work? by Margie Lewis http://www.cornettcommunications.com/blog/how-does-mortgage-pre-approval-work/#comment-568 Margie Lewis Wed, 17 Jun 2009 23:39:08 +0000 http://www.cornettcommunications.com/blog/?p=257#comment-568 A follow-up question regarding the pre-approval process. From what I gather it is best to shop around for best offers for pre-approved mortgages. So, I should contact several lenders and ask for a pre-approved mortgage and if so doesn't that have an impact on your credit score, as each lender will check your credit score? Also, you mentioned in this article that the pre-approval letter does not guarantee that you will get a loan for the amount listed - is it possible that you will not get approved at all? A follow-up question regarding the pre-approval process. From what I gather it is best to shop around for best offers for pre-approved mortgages. So, I should contact several lenders and ask for a pre-approved mortgage and if so doesn’t that have an impact on your credit score, as each lender will check your credit score? Also, you mentioned in this article that the pre-approval letter does not guarantee that you will get a loan for the amount listed - is it possible that you will not get approved at all?

]]> Comment on The Best Ways to Rebuild a Credit Score Quickly by Brandon http://www.cornettcommunications.com/blog/best-ways-to-rebuild-credit-quickly/#comment-560 Brandon Mon, 15 Jun 2009 15:26:19 +0000 http://www.cornettcommunications.com/blog/?p=107#comment-560 I am confused by what you mean when you say "opening these old accounts." If you still owe balances on those accounts, they are still active ... unless the creditor has charged off the balance and sent it to a debt collector. To improve a credit score, it's generally best to start paying down the cards with the highest balances (relative to their limits). In other words, the cards that are closest to being maxed out. This will lower your utilization ratio, which helps boost your score. I am confused by what you mean when you say “opening these old accounts.” If you still owe balances on those accounts, they are still active … unless the creditor has charged off the balance and sent it to a debt collector.

To improve a credit score, it’s generally best to start paying down the cards with the highest balances (relative to their limits). In other words, the cards that are closest to being maxed out. This will lower your utilization ratio, which helps boost your score.

]]> Comment on The Best Ways to Rebuild a Credit Score Quickly by Joelle http://www.cornettcommunications.com/blog/best-ways-to-rebuild-credit-quickly/#comment-555 Joelle Sat, 13 Jun 2009 22:56:04 +0000 http://www.cornettcommunications.com/blog/?p=107#comment-555 I have old credit card debt from 4 years ago. To improve my score quickly, should I concentrate on paying my current cards on time and paying down these balances first before I get on payment plans with my old debt? I read somewhere that opening these old accounts by paying them can actually lower my score. I have old credit card debt from 4 years ago. To improve my score quickly, should I concentrate on paying my current cards on time and paying down these balances first before I get on payment plans with my old debt? I read somewhere that opening these old accounts by paying them can actually lower my score.

]]> Comment on What Credit Score Do I Need to Buy a House in 2010? by 101 Helpful Tips for First-Time Home Buyers http://www.cornettcommunications.com/blog/what-credit-score-do-i-need-to-buy-a-house-in-2009/#comment-514 101 Helpful Tips for First-Time Home Buyers Tue, 19 May 2009 16:11:07 +0000 http://www.cornettcommunications.com/blog/?p=75#comment-514 [...] 4. Check your credit scores too. These are different from your credit reports. If your scores are in the upper 600s or above, you’ll probably have little trouble getting approved for a mortgage. If it’s 650 or below, you should try to improve it as much as possible before applying for a mortgage. Related article: What credit score do I need to buy a home? [...] [...] 4. Check your credit scores too. These are different from your credit reports. If your scores are in the upper 600s or above, you’ll probably have little trouble getting approved for a mortgage. If it’s 650 or below, you should try to improve it as much as possible before applying for a mortgage. Related article: What credit score do I need to buy a home? [...]

]]> Comment on How Can Social Media Marketing Benefit My Business? by Holly Powell http://www.cornettcommunications.com/blog/social-media-marketing/#comment-10 Holly Powell Tue, 24 Feb 2009 05:28:19 +0000 http://www.cornettcommunications.com/blog/?p=17#comment-10 This is a nice post.. even for the title.. it is very catchy.. I think the answer to the question can social media benefit my business is Yes.. Ofcourse Social media marketing can truly help to uplift your business. With social media marketing you are creating an in-depth idea of your business as you share it with other people.. Connecting and communicating are some of the keys in social media marketing that will help you achieve success. Looking forward to reading other great posts. This is a nice post.. even for the title.. it is very catchy.. I think the answer to the question can social media benefit my business is Yes.. Ofcourse Social media marketing can truly help to uplift your business. With social media marketing you are creating an in-depth idea of your business as you share it with other people.. Connecting and communicating are some of the keys in social media marketing that will help you achieve success. Looking forward to reading other great posts.

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