Tuesday, September 20, 2011

Buyers, Sellers and Credit Scores


I attended a very informative seminar today concerning education on credit scoring and credit restoration. This is so useful for me as a Realtor in order to help many buyers and sellers with their home purchases and/or sales.

Harry Snedden, President of Score Crafters, a Credit Restoration and Education company, was the Presenter. Score Crafters, LLC is a local Central Florida credit consulting company that works with consumers to raise credit scores and create a healthy overall credit profile. They also offer personal consultation services to help consumers work through credit/debt related issues.

The event was sponsored by North American Title Company, Security National Mortgage Company and M & I Bank. Mr. Snedden discussed the different platforms and thus, the different uses of the FICO vs. Vantage credit scoring. He went into the top three reasons buyers are declined a mortgage, the Statute of Limitations on credit card debt, when to dispute a credit collection and how to avoid reinstating it by mistake.

While this all sounds very simple, these issues could have legal implications which might be avoided by obtaining professional consumer counseling and knowledge.

Mr. Snedden and his partner, Attorney Joseph M. Guida, are launching their new consumer advocacy website, www.DollarClimb.com within the next ten days which will cover a multitude of topics relating to foreclosure, short sales, bankruptcy, tax liens, settlement of debt, and more It will feature webinars with financial counselors, attorneys, accountants, Realtors, lenders, bankers, contractors, maintenance professionals, etc. All of these area directly relate to the market and affect values.

As a full-time professional Realtor who prides herself on staying up-to-date in this industry, it would be my pleasure to be of service to you, your family and your friends. You may contact me at julie@moving2orlando.com or at 407-257-3433.

Friday, September 9, 2011

FHA Mortgage Updates

I wanted to share this mortgage information I just received from one of my mortgage partners.

Kari Freeman with Security National says “Please be aware that FHA loan limits are proposed to change (which means we are pretty certain they will change) October 1st, 2011. Currently the max FHA loan for Orange, Seminole, Lake and Osceola counties is $353,750 and will now be decreased to $274,850. Volusia and Brevard counties will go down to $271,050. FHA case #'s must be issued prior to 10/1/11 in order to stay under the current limits.

Also, there is an upcoming change to USDA loans. Currently, there is only an up front funding fee that is financed into the loan of 3.5% and no monthly fee. This will change 10/1/11 to a 2% funding fee and .30% monthly.

More reasons to get those buyers off the fence and making buying decisions now.”

Many Thanks to Kari for keeping Realtors, like myself, and my clients up to date on mortgage trends.

If you want to buy before these changes take effect, contact me today.

Julie Boyd-Elrod, Realtor

Charles Rutenburg Realty

407-420-9004 Office

407-257-3433 Direct



www.julieboydelrod.com (live and under construction)