A new service by Experian and Transunion promises to finally answer the oft asked never fully answered question “How come credit reports don’t factor in rent payments paid on time”? The service, called Rent Track will allow tenants to pay their rent online via credit card or E-check and have these payments automatically reported to […]
Read MoreMortgage Info
What is CAIVRS
Eligibility for loan approval is contingent upon passing a CAIVRS report. A federal government created database, the Credit Alert Interactive Voice Response System is used by authorized employees to track delinquent debtors. Delinquency records included in CAIVRS come from: The Department of Education The Small Business Administration The Department of Justice The Federal Deposit Insurance Corporation The Department of Housing and Urban Development The Department […]
Read MoreWhen are you Eligible for a Second FHA loan?
Bankruptcy & Foreclosure If you have already had an FHA loan and want to apply for another FHA loan, you might not qualify if you have been through bankruptcy or foreclosure. After going through foreclosure, you must wait three years before you can be eligible for another FHA loan. If you’ve been through bankruptcy, you […]
Read More