Credit scores are the shorthand that banks use to make lending decisions. If your score is high, you get better terms for borrowing. If your scores are low you might not get a loan at all, or you’ll have to pay interest rates that would make a loan shark blush. First comes your credit report. Three credit reporting bureaus, Experian, Equifax and Transunion, independently gather information from landlords, government agencies, credit card issuers, and other creditors. The reports are divided into four main sections, personal information, credit history, public records, […]
... Read MoreHave you ever checked out your bank account online only to discover you’re $50,000 richer than you were yesterday? That may sound like the sort of thing that happens only in fairy tales and lottery advertisements, but it’s happening right now to millions of homeowners across the nation. How does it happen? Homeowner equity is the largest source of wealth for many Americans, and as I speak, an equity boom is underway, raising homes values over the past three years as prices recover from the housing crash.The evidence suggests we’re […]
... Read MoreThe reverse mortgage has won some new respect. A decade ago, most financial advisers would roll their eyes at the mention of reverse mortgages, loans that give homeowners an advance on their home equity and allow them to delay repayment until the home is sold. Such products, these advisers used to say, weren’t for their clients, but rather for those who didn’t prepare financially for retirement. One important change, the Reverse Mortgage Stabilization Act of 2013, prevents homeowners in most cases from taking all their equity at once—roughly 40% of […]
... Read MoreIt’s All About the Numbers See below for “The Numbers” for Maui County Real Estate Sales or call us with any questions that you may have. 808-870-8888 [pdf-embedder url=”http://mauihiproperty.com/wp-content/uploads/2016/03/MLS-stats-2_16.pdf”]
... Read MoreJust two weeks ago, we posted an article discussing where mortgage interest rates may be heading over the next twelve months. We quoted projections from Fannie Mae,Freddie Mac, the Mortgage Bankers’ Association and the National Association of Realtors. Each predicted that rates would begin to rise slowly and steadily throughout 2016. However, shaky economic news and a volatile stock market have actually caused rates to drop six out of the last seven weeks, and have remained at 3.65% for the past two weeks. Rates have again fallen to historic […]
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