http://www.cal-home-loans.net/content/blog.htmCalifornia Home Loans Bloghttp://www.cal-home-loans.net/content/existing-home_sales_decline_prices_drop_inventories_rise.htmIn July, the number of homes sold fell 0.2% a fifth straight decline. The median home price was $228,900, down 0.6% from July 2006. <P> <P>Source: <A href="http://feeds.realestatejournal.com/~r/wsj/realestate_journal/~3/149100705/20070827-bater2.html">http://feeds.realestatejournal.com/~r/wsj/realestate_journal/~3/149100705/20070827-bater2.html</A> <P></P>http://www.cal-home-loans.net/content/accredited_stops_accepting_new_us_loan_applications.htmAccredited Home Lenders will cut more than 1,000 jobs as it deals with credit-market turmoil. <p>Source: <a href="http://feeds.realestatejournal.com/~r/wsj/realestate_journal_commercial/~3/147211463/20070823-kingsbury.html">http://feeds.realestatejournal.com/~r/wsj/realestate_journal_commercial/~3/147211463/20070823-kingsbury.html</a><p>http://www.cal-home-loans.net/content/five_big_mistakes_that_mortgage_seekers_make.htmSeucuring financing is even tougher these days. Marhsall Loeb outlines the goofs that can prevent you from getting a loan. <p>Source: <a href="http://feeds.realestatejournal.com/~r/wsj/realestate_journal/~3/149100706/20070828-loeb.html">http://feeds.realestatejournal.com/~r/wsj/realestate_journal/~3/149100706/20070828-loeb.html</a><p>http://www.cal-home-loans.net/content/desperate_home_sellers_try_unconventional_selling_tactics.htmSelling a house is no easy task so owners are turning anywhere they can for help -- including feng shui and St. Joseph. <p>Source: <a href="http://feeds.realestatejournal.com/~r/wsj/realestate_journal/~3/149100707/20070828-hoak.html">http://feeds.realestatejournal.com/~r/wsj/realestate_journal/~3/149100707/20070828-hoak.html</a><p>http://www.cal-home-loans.net/content/five_houses_vie_to_become_most_expensive_home_sale.htmA group of homeowners is trying to break the $103 million record for the priciest residence sold in U.S. history. <p>Source: <a href="http://feeds.realestatejournal.com/~r/wsj/realestate_journal/~3/148678262/20070827-casselman.html">http://feeds.realestatejournal.com/~r/wsj/realestate_journal/~3/148678262/20070827-casselman.html</a><p>http://www.cal-home-loans.net/content/full_force_of_housing_glut_is_felt_as_condominium_buyers_bac.htmForeclosures and bankruptcies of condo projects are rising as buyers who signed contracts two or three years ago are having trouble getting financing. <p>Source: <a href="http://feeds.realestatejournal.com/~r/wsj/realestate_journal_commercial/~3/149100308/20070828-frangos.html">http://feeds.realestatejournal.com/~r/wsj/realestate_journal_commercial/~3/149100308/20070828-frangos.html</a><p>http://www.cal-home-loans.net/content/home_sales_offer_encouraging_signs.htmThe number of new homes sold rose 2.8% in July, and Junes results were revised upward. But groundbreakings by home builders fell to the lowest level in 10 years. <p>Source: <a href="http://feeds.realestatejournal.com/~r/wsj/realestate_journal_commercial/~3/148677013/20070824-bater.html">http://feeds.realestatejournal.com/~r/wsj/realestate_journal_commercial/~3/148677013/20070824-bater.html</a><p>http://www.cal-home-loans.net/content/toll_brothers_offers_glimmer_of_hope_on_jumbo_mortgages.htmThe home builder said it hasnt faced problems selling off jumbo mortgages, even as the luxury home builder posted an 85% drop in earnings. <p>Source: <a href="http://feeds.realestatejournal.com/~r/wsj/realestate_journal_commercial/~3/147615017/20070824-corkery.html">http://feeds.realestatejournal.com/~r/wsj/realestate_journal_commercial/~3/147615017/20070824-corkery.html</a><p>http://www.cal-home-loans.net/content/bank_of_america_invests_2_billion_in_countrywide.htmThe lender acquired an equity stake in Countrywide in a bid to bolster the confidence of creditors and investors in the mortgage provider. <p>Source: <a href="http://feeds.realestatejournal.com/~r/wsj/realestate_journal_commercial/~3/147615018/20070824-hagerty.html">http://feeds.realestatejournal.com/~r/wsj/realestate_journal_commercial/~3/147615018/20070824-hagerty.html</a><p>http://www.cal-home-loans.net/content/credit_score_under_660.htmIf you have a credit score of below 660, do not be deterred. Despite many changes in secondary marketing guidelines, there are still programs available for those with credit scores below 660. There are still 100% financing, low down payment financing, and high ltv cash-out refinances available for those with credit scores below 660. The next paragraphs will highlight many of the programs available for credit scores below 660.http://www.cal-home-loans.net/content/quickest_ways_to_improve_your_credit_score.htmThere are several things that can be done to improve your credit score. The most obvious thing that can be done to quickly improve your credit scores is to keep your payments on time, pay your balances down to below 50% of your credit limits, do not close credit card accounts if you can avoid to, and avoid having numerous inquiries on your credit report. While this may seem very simple and obvious to do there are a lot of consumers who do not understand credit and credit scoring because of the lack of information that is available out there. Therefore, one of the quickest ways to improve your credit score is to do preventative maintenance and work hard at maintaining an excellent credit history.http://www.cal-home-loans.net/content/free_rapid_rescore_-_expedited_credit_repair.htmAverage turnaround time for free rapid rescore is about 3business days. Transunion's call center has a department called the 'mortgage pending department'. It's very important to know that this department is for mortgages only, and not other types of transactions. The borrower will first need to apply for a mortgage before calling Transunion. Transunion will see the 'credit inquiry' from the lender, and proceed with the call. They will ask for closing date, broker's company, loan officer's name, and phone numbers. Make sure you have this in front of you before you call! Once you speak to a live agent, you will need to explain to them that you have a mortgage closing within X amount of days. Ask the live agent to be transferred to the 'mortgage pending department'. Remember that not ever call center has a mortgage pending department. If this happens, the live agent will tell you to hang up and call again. Otherwise, they will transfer you to the 'mortgage pending department'. This department will go ahead and ask you a series of questions. Basically, why are you disputing this item, who told you about us, when is your closing, etc. Make sure to say that the lender told you about the department! Doing this type of credit repairing is quicker, and no cost to your borrowers. Equifax's live agents are able to handle these requests without being transferred. They call it the 'expedited process'. Make sure that you sound URGENT and/or DEMANDING on the phone. If you dont care about it being done neither will the agent. There are a few ways of obtaining a free credit report without a creditor pulling it for you. www.AnnualCreditReport.com is the primary source for all 3 agencies Annual Credit Report Request Service PO Box 105281 Atlanta, GA 30348-5281 http://www.ftc.gov/bcp/conline/include/requestformfinal.pdf (Make sure to print it out, and mail to the above address 877-322-8228 to order over the phone You can receive a free copy of your credit file if: you have been denied credit, insurance, or employment and request the report within 60 days of notice, or if you can prove that (1) you're unemployed and plan to look for a job within 60 days, (2) you're on welfare, or (3) fraud on your credit file If you have already used annualcreditreport.com: If you have a current copy with Equifax or Experian, you will be able to view your credit report by initiating a dispute. You will need a 'confirmation number' that is less than 60days old. After disputing an item, make sure to keep the new confirmation number that is generated. You will need to 'login' to Transunion's website, and initiate a dispute. They will allow you to view a current copy of your credit file. *Please remember that annualcreditreport does not provide credit scores. If you're tired of receiving offers from creditors you can go to www.OptOutPreScreen.com or call 1-888-5-OPTOUT (1-888-567-8688) to OPT OUT from receiving offers. http://www.cal-home-loans.net/content/mortgage_credit_crunch.htmWith all of the talk recently about a mortgage credit crunch, many folks are wondering what loan programs remain. More importantly, many people want to know what kinds of loan programs will be available to them when they go to refinance or purchase a home in the future. We will take a look at what low down payment mortgages still remain and what loan programs are still available for different borrowers.http://www.cal-home-loans.net/content/estimate_credit_score.htmHow can i estimate my credit score? Many consumes often wonder what there credit score is. In truth there really is no way to know what your credit score is unless you actually pull a credit report. However there are some ways that you can estimate your credit score. Credit reports rely heavily on certain aspects of your credit history to determine a credit score.http://www.cal-home-loans.net/content/credit_score_under_620.htmIf you are looking to purchase a home or considering refinancing your home and have a credit score under 620, there are still many options available to you. Despite the subprime meltdown, there are still many programs available to borrowers who have a credit score below 620. 620 used to be the benchmark cutoff point for prime and subprime lending, but automated underwriting has allowed for borrowers with some credit blemishes to benefit with prime or near prime rates.http://www.cal-home-loans.net/content/first_time_homebuyer_-_bad_credit.htmIf you are looking to buy a home in today's real estate market and you are a first time homebuyer with bad credit, you will probably have a tough time finding financing. However, there still are options for first time homebuyers with bad credit. Consult a mortgage professional to find out if you can qualify for a mortgage, even with bad credit.http://www.cal-home-loans.net/content/credit_repair_tactics.htmSome credit bureaus have a "rapid rescoring" system available, which corrects inaccurate information on your credit report. Your score is recalculated within a few days, rather than waiting over 30 days like normal. This can allow you to close on your loan before your rate lock expires.http://www.cal-home-loans.net/content/buying_a_home_with_no_credit.htmBuying a home with no credit can often prove to be somewhat of a challenge. While many consumers who buy everything with cash feel that not using credit is a good thing and should help them, the opposite of that is true. If you would like to buy big dollar items, such as homes, cars, boats, etc... the majority of the population can not afford to simply pay cash for these items. Thus they need to obtain financing. Not having any credit history does not demonstrate or prove that a person can be responsible borrowing a large sum of money, thus making this type of loan somewhat high risk. However, there are mortgage programs available that will permit borrowers to buy a home without having any credit. Therefore, buying a home with no credit can be more difficult than having a proven credit history but there are still mortgage loan options out there for you.http://www.cal-home-loans.net/content/first_time_homebuyer_-_fair_credit.htmConsumers with fair credit can buy a home, even as a first time homebuyer. However, generally the lower your credit score is, the more money that will be required from you for a down payment. The opposite is normally true as well, the higher your credit score is, the lower the down payment requirement will be. Some consumers can still qualify for a first time homebuyer loan with no down payment required with fair credit. Therefore, you will need to consult a mortgage broker to see what you qualify for.http://www.cal-home-loans.net/content/remove_negative_items_credit_report.htmIf you have bad credit and are trying to remove negative items from your credit report you will first need to get copies of your credit report from the three reporting bureaus. These bureaus are http://www.transunion.com http://www.equifax.com and http://www.experian.com You can buy your credit report directly online from all three credit reporting agencies. After receiving the credit reports you will need to examine each credit report and determine what negative items need to be removed from each credit bureaus credit report. The next step is actually disputing the negative information on your credit report and increasing your credit score. The easiest way to file a credit dispute is online, all credit bureaus have a dispute section on their websites that is very user friendly and is much faster then writing a letter. Normally within 45 days you will receive either an email conformation or written letter in the mail telling you what if any negative accounts have been removed or verified as accurate.http://www.cal-home-loans.net/content/consolidating_credit_loan.htmBy using a loan and consolidating your credit card, auto and other monthly bills into one loan you can save hundreds of dollars a month. There are guidelines however when using a consolidating credit loan to pay off debt. First you will want to make sure that you are in fact saving money and that the loan is right for you current situation.http://www.cal-home-loans.net/content/credit_repair_guide.htmIf you have bad credit and are not sure how to improve your credit score you could buy a credit repair guide from the Internet or follow some basic steps that a credit repair guide will tell you to follow. In the following article you will see a credit repair guide and learn how to repair your own credit.http://www.cal-home-loans.net/content/what_impacts_credit_score.htmMany different variables have an impact on your credit score. The big factors include payment history, how long the account has been open, balance to limit ration and credit inquiries. All of these have a large impact on your credit score with the most important being payment history. One 30 day late payment can have a negative impact on your credit score and drop your credit score as much as 100 points.http://www.cal-home-loans.net/content/credit_fico_score_for_fha_loan.htmWhen FHA is underwriting a mortgage loan they do not look directly at the credit fico score of the borrower; instead they look at overall credit profile. However even though fico credit score is not a large factor in an FHA loan you mortgage history is. FHA requires no mortgage late payments in the last 12 months regardless of the borrowers fico credit score.http://www.cal-home-loans.net/content/credit_score_under_600.htmIf your credit score is under 600 you are still in great shape to be approved for a mortgage loan. Although still considered bad a credit score under 600 may even qualify you for a mortgage with 100% financing.http://www.cal-home-loans.net/content/credit_cards_for_credit_score_under_500.htmIf your credit score is under 500 and need a credit card for a credit score under 500 you have very few choices. When your credit score is that low you are mainly limited to secured credit cards. Secured credit cards can be used to raise your credit score from under 500 to a good score rather quickly.