505-908-1057

Yes folks…Fannie Mae is now going to require, from the lender that is selling your loan to them, a credit report pulled prior to funding.

DO NOT USE YOUR CREDIT CARDS anytime after you have started your loan process.  Even 1 point drop could hurt you in the closing of your loan.  You might even have to go back to underwriting and your interest rates could change, the terms of your loan could change, you might not even qualify to purchase that new home.  Yikes!

For every person who climbs the ladder of success, there are a dozen waiting for the elevator. – Unknown Author

http://www.federalreserve.gov/newsevents/press/bcreg/20090723a.htm

http://www.namb.org/Forms.asp?MODE=NEW&Forms_FormTypeID=-29

We’ve made headway….keep signing those petitions.

The IRS has concluded that a taxpayer can deduct interest on the first $1.1 million of a home mortgage, which is $100k more than an earlier limit. Taxpayers can file amended returns for the past three years and claim thousands in refunds.

SEE LINKS AT SIDE POST
IRS Publication 936
First Time Homebuyer Credit…ending soon. IRS Publication 530.

I would suggest going to this link and running your credit report with 1 bureau every 4 months. It is totally free and a good way to make sure your identity is not being affected by identiy theft. The only thing the report doesn’t show is your fico. AND…unless you are buying or refinancing..you probably don’t need that score anyway.

http://www.money-zine.com/Financial-Planning/Debt-Consolidation/Understanding-FICO-08/