ALERT! 3 Mortgage Scams to Watch Out For (And How to Avoid Them)

Scam Alert! Three Mortgage Modification Scams to Watch out for (And How to Avoid Them)As if homeowners in Sacramento who are facing foreclosure don’t have enough to worry about, a multitude of loan modification scam artists have invaded the internet, public files and even foreclosure notices in newspapers in hopes of targeting their next victim. By identifying the top three modification scams and learning how to avoid them, at-risk homeowners can protect themselves (and their homes). Continue reading “ALERT! 3 Mortgage Scams to Watch Out For (And How to Avoid Them)”

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.”

Can I Have A Co-Signer For My Mortgage Loan?

Can I Have A Co-Signer For My Mortgage Loan?Like credit cards or car loans, some mortgages in Sacramento allow borrowers to have co-signers on the loan with them, enhancing their loan application.

However, a co-signer on a mortgage loan doesn’t have the same impact that it might on another loan. Furthermore, it poses serious drawbacks for the co-signer. Continue reading “Can I Have A Co-Signer For My Mortgage Loan?”

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!”

3 Important Credit Steps Before You Make That Offer

I don't want to know!
I don’t want to know!

Thankfully, I have wonderful clients and agents who are properly educated on what to do BEFORE they get into contract to buy a new home in Sacramento. First and foremost, get yourself prequalified for a home mortgage and have your credit profile reviewed by a mortgage professional you trust, to avoid any pitfalls you may encounter when you get that accepted offer. Continue reading “3 Important Credit Steps Before You Make That Offer”

Pros And Cons Of Making Biweekly Mortgage Payments

This is for sample purposes. Call me for your analysis.
This is for sample purposes. Call me for your analysis.

Have you ever considered paying off the mortgage on your home in two biweekly payments rather than one monthly payment? It might seem like this wouldn’t make a difference, but the truth is that biweekly payments really do add up more quickly.

Since there are 52 weeks in a year you will end up making 26 payments in total – which is equal to 13 months rather than 12. This means that your mortgage will be paid off more quickly and you will save money on interest payments in the long run. Continue reading “Pros And Cons Of Making Biweekly Mortgage Payments”

It’s Back! Down Payment Assistance for Buyers!

breaking-newsCan you imagine buying a new home with little to nothing down? Don’t worry, this is not too good to be true, it’s a pure and simple government backed loan (FHA) with the help of our new Grant Program.

We have added this wonderful assistance program to our ever-growing arsenal of loan programs, and now I can finally spread the news! This Grant may help you take advantage of this very attractive real estate market and possibly be the difference in purchasing that home you have had your eyes on. But, with any program, it’s important to read the fine print to make sure this is something that will work for you. Continue reading “It’s Back! Down Payment Assistance for Buyers!”