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Non-Tech : Investing in Real Estate - Creative Opportunities
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To: John Vosilla who wrote (600)5/17/2012 5:54:32 PM
From: tejek  Read Replies (1) of 2722
 
After the bankruptcy, their credit score plunged to 460. "It's not that you don't pay your bills because you want to go on vacation," she says. "You don't pay because you don't have the money."

By November 2011, their credit score had improved to 680 and Eaton and her husband, a veteran, qualified for a Veterans Administration loan to purchase a $252,000 home near Tacoma, Washington. They moved into the three-bedroom house the day before Thanksgiving.

What a fast turnaround..680 is a respectful score. I think if one party has power after the elections you will start to see credit conditions get loose in a hurry just like post 9/11. You will see some new creative financial instruments that take the risk out for the holders of long term fixed rate loans at 3-5% a big hurdle to loan generation.

Did you know that most banks won't consider you if your score isn't 720 or better? They told me that when I refi'd and I thought they were blowing me some smoke. Then I read it again last week.
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