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Mortgage Market Update

click for larger imageThe rate markets are under pressure again this morning. The recent spike in interest rates adds more confirmation to our forecasts that the lows in the interest rates markets are now in place and rates are unlikely to fall to new lows. The recent stampede to the safety of US treasuries became excessive; the run down in rates was mostly in treasuries but mortgage rates benefited as the outlook for the US economy hit new lows in July and August. A lot of concern the US economy would double dip and fall back into text book recession sent investors, both domestic and foreign, to the safety of bonds.  There just isn't much room left for improvement, but a lot of room for rate to go up.  I would Strongly advise capitalzing while you can.

Want to know more on how the Mortgage Market directly effects mortgage rates or need an explanation of the candlestick chart above? Send us an email and we'll gladly provide an in depth article.  Realtors, ask about a detailed presentation on the Mortgage Market at your next office meeting.

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Friday
Feb262010

The Art of Correcting/Disputing Your Credit Report

DateFriday, February 26, 2010 at 11:40AM

With new lending guidelines and stringent credit score requirements, it is now more important than ever to care for your credit report.  However, correcting items on your credit is literally an art and need I say a real pain in the rear! 

However, if there are mistakes on your credit report or you pay off collections and want those changes to be reflected, you must take action . . . I'm here to help you!  First, you need the contact information for all 3 credit bureaus:

Experian
888-397-3742
www.experian.com
PO Box 1000
Chester, PA  19022

Equifax
 800-685-1111
www.equifax.com
PO Box 740241
Atlanta, GA  30374

TransUnion
800-916-8800
www.transunion.com
PO Box 2002
Allen, TX  75013

To request corrections on your credit report you must work directly with each credit bureau.  Always correspond in writing and keep copies for your records.

What information should you provide when disputing an item on your report? 

  • full name
  • birth date
  • Social Security number
  • current address
  • former addresses in last 5 years
  • photocopy of driver's license, showing current address

If you have a letter denying your credit, employment, or insurance within the last 30 days, a copy of the letter should be provided.

When disputing items on your report, the credit bureaus are required to respond in writing within 30 days of receipt of your letter. Also Note: Mailing correspondence via registered mail is always recommended.

Here's to increasing credit scores and obtaining the best financing available!

AuthorPamela Crim | Comments Off |
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