If You Miss One Mortgage Payment Will it Hurt Your Credit Rating? Yes! Here’s What to Do if You Miss One.

Can One Missed Mortgage Payment Affect Your Credit Rating? Yes! Here's What to Do if You Miss OneMost people don’t know whether or not a single missed mortgage payment can have serious consequences for their credit score. As a Sacramento Lender, it is amazing how much time we talk about credit. Most people focus on interest rates, and monthly payments, but forget about that pesky credit report.

The good news is that there are things that can be done to mitigate the damage and help anyone who has missed a payment repair their credit. What are some options to help homeowners get back in the good graces of their creditors? Continue reading “If You Miss One Mortgage Payment Will it Hurt Your Credit Rating? Yes! Here’s What to Do if You Miss One.”

Buy A New Home Just One Day After A Short Sale or Foreclosure? Yes, You Can!

Flex-Banner_600x315px_mockup5Comstock Mortgage, has been helping buyers into homes for over thirty years. Buyers can qualify for the Flexible Credit Home Loan Program just six months after bankruptcy – and just one day after short sale or foreclosure.

Losing your home to foreclosure or going through a short sale is one of the most disheartening experiences the modern homeowner can endure. Traditionally, a defaulted mortgage has meant years of poor credit and renting rather than buying. Continue reading “Buy A New Home Just One Day After A Short Sale or Foreclosure? Yes, You Can!”

Sacramento Beware Of Zombie Titles! Boooo

Zombie Outbreak on HalloweenWith the economic downturn, anyone dealing in real estate in Sacramento quickly became familiar with previously little-known terms such as foreclosure and short sale. Now that the housing market is picking back up and people are moving on, a new term is coming to light — zombie titles.

The Zombie Title

This is when a home has been vacated because the owners defaulted on their loan and their bank started the foreclosure process. However, for some reason or another the bank never completed the foreclosure and sold the home. Continue reading “Sacramento Beware Of Zombie Titles! Boooo”

Watch Out for these Mortgage Application Deal-Killers

house-of-cardsThe mortgage process can be a lot like a house of cards. It is carefully, and painstakingly put together to build the perfect structure – or in this case, an approved loan. Then just as the ink is drying on your final loan papers, someone pulls the virtual card (aka deal killer) from the bottom and whoosh! – the house of cards and your loan come crashing down. A mortgage loan approval is never final until it’s funded.

Mortgages are made up of many moving parts, any of which might “go wrong” while your home loan is underway. We get so focused on getting the best interest rate, and we forget there is much more to this process than picking a loan officer, locking your rate and waiting 30 days till you close. Continue reading “Watch Out for these Mortgage Application Deal-Killers”

The Best Time Of The Year To Sell Your Sacramento Home

The Best And Worst Times Of Year To Sell Your HomeDoes it matter when you put your Sacramento home on the market and does timing affect how well it will sell?  What about the final sales price?

According to many studies in housing trends, the answer is yes. The time of year when you sell your home can have an effect on how many people are interested and how much the home will sell for. Continue reading “The Best Time Of The Year To Sell Your Sacramento Home”