Question by 10.31.2011: Looking to get a mortgage? Advice please?
I am my husband are 20 years old and looking into buying a house. I checked my credit reports and I have nothing negative on them. However, I do have a student loan in my name for the amount of 5500. It was opened in September 2010 and payment isn’t due to start until November 2013, after I graduate. What does this mean about my credit score? Good, bad or nonexistant?
Also, what are the chances of us actually being able to get a mortgage with zero credit?

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Question by bootleg_310: how do i find success in mortgage lending with freezing cold leads? i need advice!?
hey i just got my first mortgage lending job, and i just spent a week dialing away at the stacks of leads provided in the office.. the only problem is, the leads are internet inquiries anywhere between three months to a year old.. most people just refinanced, or did a while ago, and many people i speak with are pissed because were the 25th company to call them.. so out of about 1000(i counted) calls, ive gotten 6 applications, all of which are people who have already tried to refinance with bad credit, basically desperate. none of those apps are going anywhere.

is this a normal thing to deal with in the business? have you had success with old leads like this? should i tell my boss that he needs to get some fresh ones, or what? i feel like im spinning my wheels, and BTW i should mention, i didnt even see anyone produce any applications from those leads in the office i work in..

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Article by SeanH

Why would anybody need mortgage advice?

Once upon a time, getting a mortgage was a simple affair. You saved up your deposit and made an appointment with your Building Society Manager. Then you meekly and gratefully accepted what he (it was usually he) deigned to offer you.

Nowadays, things are very different. There are hundreds of lenders, offering literally thousands of different products of all shapes and sizes – and they are all competing for your business. Which is nice. But the effect is that trying to research the market on your own is a daunting and very confusing prospect. So it really does make sense to look for mortgage advice.

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You can still find great deals for money loans even when you have poor credit.  How, you may ask?  Well, as long as you’re a homeowner with a decent amount of equity built into your mortgage, this is tantamount to having flawless credit for most mortgage lenders.  If you need cash and don’t have access to the typical avenues of credit-based loans, seeking more information on remortgaging loans (a form of refinancing your mortgage) would be a great starting point.  In many cases, you can qualify for lower rates than your pre-existing mortgage agreement.  There are also ways you can take advantage of the reduction in property values stemming from the recent housing economy collapse around the world.  While the subprime lending crisis was bad for the worldwide economy, it’s a good thing for homeowners, new and old alike.  New homeowners are able to capitalize on foreclosed and vastly-reduced in value homes like never before, and existing homeowners (even those with bad credit) will be able to remortgage their homes and receive the excess in loss property value as a remortgage loan from their new lender.  There’s no reason why you shouldn’t take advantage of the benefits of being a homeowner, so get started right now! What Is More that there are a lot of mortgage lenders online, which are set to give you the fantastic mortgage products online. Actually it is much more simpler to get specific bad credit card remortgage loan with online loan companies as they have got no processing fees & so they will charge no application charges.

The bad credit remortgage loans generally come in useful for people who run on an adverse credit & are searching for means to enhance the credit card situation. Availing this type of the remortgage helps you to borrow amount against a value of home & make some monthly repayments at the agreed rate. The loans give borrowers in UK opportunity to avail the mortgages at very reasonable rate. The loans are accessible to all kinds of the credit holders in United Kingdom. In case, you own the house in UK then you may very easily avail the loans at favourable rate. This may help them better the credit score. Borrowers may as well also approach the negative credit card remortgage companies. This may help the borrowers to get best advice on the remortgages.

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Question by sum1: advice on mortgage/credit issue?
I bought a house with an ex a couple years ago who still pays part of the mortgage but doesn’t live in the home with me anymore. I lost my job and having trouble finding work. I’ve run out of savings. i put all of the down payment from my retirement and took all of the financial risk. On top of that consistently paid 55 to 60% of the monthly payments for two years because I was the one who made more money. Now I am barely making ends meet and having some looming tax debt. The least I can do is hang on to the house as investment after hopefully riding out this bad economy one day. My ex had been unemployed for a long time and now that he has a job (and living rent free with family) is saying he would prefer to sell the house instead of working with me even though I fully supported him while he was unemployed. We both have good credit and don’t want to ruin it. But I feel like I’ll be damned if I am going to lose my investment and my place to live. If I don’t find a job soon, I am starting to wonder if I might consider bankruptcy. How would this affect my ex? We were never married but are both on the title/deed of the home.
(*also, right now the value of the home is just slightly less than what is owed on it)

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Question by Andi: Any advice on bad credit mortgage loans?

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We are looking into buying our first home. We are working with a mortgage company. Should we apply for more than one? How do we know we are getting the best rates? Should we go ahead and buy without a down payment? We just finished college and are looking ot moving closer to where we are going to be working…it looks like we qualify for a loan, but are unsure how much we can afford. According to the calculators that many of the sites have we can’t afford as much as many of the houses are going for…but we are very good with our money and I think we can pay out 1/3 of our income if not more…any thoughts, thanks.