Pros and Cons of a Short Refinance
Posted by TDN on Apr 24, 2011 in Foreclosure, Mortgage, Mortgage Help | 1 comment
A short refinance is one of several alternatives that allows both a lender and home owner to avoid foreclosure. It is typically available for borrowers that are in default and involves creating a new loan amount than the existing outstanding balance owned. The difference is typically forgiven by the lender. Why would the lender agree to such terms? Foreclosure is almost always...
Read MoreHow Do Events Impact Your Credit Score?
Posted by TDN on Apr 22, 2011 in Credit, Credit Score, Foreclosure, Personal Finance | 3 comments
So how does foreclosure impact your credit score? What about other damaging item like Bankruptcy? Until recently the credit agencies have been very secretive about what will happen to your FICO score after you start to fall behind on your payments. Just recently Fair Isaac, which is the company that developed FICO scores, has come out with some estimates (averages) on how your credit score will...
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