Monthly Archives: April 2021

Fed to Keep the Benchmark Rate Low

Posted by Shawn Simpson // April 28, 2021

Fed to Keep the Benchmark Rate Low

According to Realtor Magazine, “The Federal Reserve voted on Wednesday to keep its benchmark interest rate near zero and historic lows as the economy continues to recover from the COVID-19 pandemic.” The Fed to keep the benchmark rate low and further indicates that they won’t likely raise interest rates until 2023—at the earliest. But that […]

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Mortgage Insurance

Posted by Shawn Simpson // April 21, 2021

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Did you know when you buy a house, there are several costs associated with a home purchase that you may not have planned for and be an expense you can eliminate? A lender requires mortgage insurance when they put a down payment of less than 20% of the home value. For example, on a $300,000 […]

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Historic Delinquency Problems

Posted by Shawn Simpson // April 14, 2021

Buying From A Distressed Homeowner

According to Wolf Richter for WOLF STREET, “Everything is on ice. But when forbearance ends, forced sellers or lenders will put millions of these homes on the market. Since last spring, historic delinquency problems have been fermenting largely on ice and on hold by forbearance programs. “The Federal Housing Administration (FHA), which insures nearly 8 million high-risk […]

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The Impact of Foreclosure on Your Credit Score

Posted by Shawn Simpson // April 7, 2021

680 FICO Credit Score 780 FICO Credit Score Bankruptcy 530-550 540-560 Foreclosure 575-595 620-640 The impact of foreclosure on your credit score can mar your credit report for seven years from the date of your first missed payment. According to U.S. News, “During that time, it can affect your credit score and the way other lenders view your […]

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