Bad Credit Content Index - Page 1

Bad credit is when you have a low credit score. Bad credit prevents you from getting a good interest rate on a home loan, a car loan, a student loan or a personal loan. Bad credit will make a potential landlord think twice about renting to you. How can you get bad credit? If you're late making payments or have a debt to income ratio that's too high you may have bad credit. Learn how bad credit affects your financial life and how you can move from bad credit to good credit.

**Refinance Fees: How Much Is Too Much?** When you're refinancing your mortgage, how much should you be paying in refinance fees? It can be hard to tell what fees you're paying to the lender, what is prepaid interest, and what are the other costs of the loan. Refinance fees, especially for prepaid interest, can add up to the closing costs of refinancing your loan. Have your lender explain exactly what all the refinance fees are going toward before you make any decision about refinancing or canceling your refinance.

**8000 Tax Credit First Time Home Buyer Rules For Buying With A Partner** Can you qualify for the 8000 tax credit for first time home buyers if you are buying a house with a partner? if you're not married you can probably still claim the first time home buyer tax credit on your tax return, even if your partner doesn't qualify for the first time home buyer tax credit. Ask a tax professional for help to make sure you maximize the benefits of the 8000 tax credit for first time home buyers. Also, when buying with a partner, it's usually for the best to draw up a partnership agreement about how the home will be purchased.

**$8000 Home Buyer Tax Credit Extension Causes Confusion Over Start Dates, Mobile Home Rules** The home buyer tax credit extension that opened up a home buyer tax credit to trade-up buyers, not just first time home buyers, has caused some confusion over the rules for the home buyer tax credit. The start date has been a big point of concern for the home buyer tax credit extension. Officially, home buyers must close after November 6 to qualify for the home buyer tax credit extension. RV and mobile homes have also caused some confusion. Read below for some of the IRS answers for the home buyer tax credit extension.

**Qualifying For a Mortgage Loan Stricter For Home Equity Lines Of Credit** Today, bank requirements for a loan are stricter for new home equity lines of credit than they were just a few years ago. Banks and lenders are tightening the requirements for home equity lines of credit and other personal lines of credit to make sure their funds are safe. Now, banks might require higher credit scores, more equity in your home, and other strict requirements before they will give you a line of credit. However, if you shop around, you may be able to find a bank willing to give you a home equity line of credit.

Are government bonds safe? With the economy in recession, it's natural to worry about where you are putting your money. Government bonds are almost always a safe bet, but you shouldn't expect to see a great interest rate.

Ilyce Glink Show Notes - November 15, 2009. Today on the show, we discussed the new Fannie Mae Deed For Lease Program in Detail; the new CreditKarma Survey on credit card debt; The October 2009 Realty Trac Foreclosure survey; Divorce and Mortgages; Mike Rose, a senior loan officer with Bank of America, came on to talk about some of the new mortgage rules with regard to divorce and FHA; Peggy Abkemeier, President of Rent.com discussed a new survey of investment property owners. NEW EBOOKS ON INVESTING IN REAL ESTATE; EBOOK SPECIAL.

**Home Buyer Tax Credit Cut-Off Dates: Do I Qualify?** The $8000 first-time home buyer tax credit has been extended and a new $6500 trade-up buyer tax credit was expanded. Some home buyers are upset because they don't qualify for the home buyer tax credit. It's unfortunate that some people just missed the cut-off dates for the home buyer tax credit, but the tax credits have to begin and end somewhere. Do you qualify for the home buyer tax credit?

**Should I Refinance My Mortgage?** Mortgage interest rates keep falling, now below 5 percent. Should you refinance your mortgage? It's more difficult to get a mortgage refinance in today's lending market, but it might be worthwhile to try to refinance your mortgage. Will it reduce your monthly mortgage payments? Will a mortgage refinance shorten the term of your loan? You need to determine why you want to refinance your mortgage to determine the best refinancing scenario for your loan.

**$8000 First Time Home Buyer Tax Credit and Closing On New Construction** If you are buying a home as a first time home buyer or repeat buyer, the extended $8000 credit or the expanded $6500 credit should be of interest to you. But you need to be careful with timing. If you close too late, you might not be entitled to the credit. You must close and move into your new home before the tax credit expires. If you're still working on construction by the time the home buyer tax credits expire, you will not qualify for the $8000 first-time home buyer tax credit or the $6500 trade-up buyer tax credit.

**Short Sale vs Foreclosure: Which One Can You Get To Close Faster** When you are out shopping for a home are you better off looking for a seller doing a short sale or buying a home that has been foreclosed on by the bank. In a short sale you will deal with the owner of the home but will be at the mercy of the bank but in a foreclosure, you will be dealing directly with the bank trying to sell the home in the open market.