August 5th, 2009
Figuring your debt to income ratio can be tricky. Most wage earners and salaried employees will breeze through this section, however if your commissioned or self employed you may want to pay close attention to this section.
When underwriters figure your debt to income ratio (DTI) they will use the same methods from lender to lender as it pertains to conventional mortgages. Below are a few rules when making these calculations. For this exercise we highly suggest that you have a copy of you credit bureau in hand.
Read the rest of this entry »
Posted in Discussion, Mortgage Basics | No Comments »
February 25th, 2009
Let me get this right. We are going to give money to the institutions that are responsible for mismanaging their loans, so that they can give money to the people who mismanaged their mortgages, and administer these funds through Fannie Mae and Freddie Mac who guaranteed the bad loans in the first place. Stop for one second and say that out loud.
Read the rest of this entry »
Posted in Mortgage Crisis Blog, Mortgage News, Mortgage Tips | No Comments »
June 25th, 2008
Direct Banc – The U.S. Senate is currently considering a bill which could possibly save consumers that use credit cards on a regular basis. The Bill, Credit Card Fair Fee Act, sponsored by U.S. Senator Dick Durbin (D-IL), contends that credit card issuers have an unfair advantage in the marketplace based on the fact that they control 40% of retail transactions across the country. The legislation is specifically aimed at the bank’s interchange fees that they charge on every credit card transaction.
Read the rest of this entry »
Tags: credit card issuers, interchange fees, senator dick durbin
Posted in Credit Cards, Discussion | No Comments »
June 24th, 2008
With gas prices skyrocketing, millions of people are flocking to gas cards to help with the rising fuel cost. Gas cards are brand specific credit cards that offer consumers rebates and rewards for using their credit card. Like most credit cards that offer a reward programs, there are specific guidelines that consumers’ need to be aware of. In many cases, a traditional credit card is better suited for the task. Read the rest of this entry »
Tags: credit card issuers, fuel cost, reward credit cards
Posted in Credit Cards | No Comments »