Forrester Group Century 21 Blogs

Open Houses for August 29, 2010

Sun, 29 Aug 2010 11:12:00 GMT

Check out our Open Houses

Centrally located wonderful rancher nestled in a great location on the West end of Billings. 3 Bedrooms on the main level, as well as originally refinished hardwood floors, large kitchen. New interior and exterior paint. Basement 50% finished with plenty storage room. 2.398 Sqft Home with 3 bedrooms and 2 baths.

from 12:00-2:00

1336 Cortez $262,000

Hands down one of the best looking homes in this subdivision, unobstructed view from the rear of home, great open main floor plan, tiled kitchen, gas stove, cultured stone fireplace, insulated garage, roughed in bar in lower level, 90% efficient Furnace and Water Heater. Dark Maple Cabinets, Built in Cabinet Hutch, Crown Molding,TRAMPOLINE AND PLAY SET STAY.

from 12:00-2:00

957 Adobe $189,500

The back of the home has views of Open Space with a great landscaped yard.

Great Home with a 2 car garage. New roof to be installed. plenty of storage, and large bonus room.

from 2:30-4:00

www.Billings.org has all of your Open Houses on one site from all the Billings Brokerages. Call me today for your own personal tour on all Homes in the Billings and surrounding areas.

Have a great weekend!!!

Mary Kay Debut Party for Nicole Forrester

Sun, 29 Aug 2010 10:06:00 GMT

You’re invited…

Please join Nicole Forrester, Independent Beauty Consultant,

for her Mary Kay business debut!

Monday, August 30^th, 5:30 p.m.

Mary Kay Center

Alpine Village

1216 16^th St. W. suite #21

(Next to Alpine Casino, behind Grand Ave. Pizza Hut)

* Product Sampling! * Refreshments!! * Prizes!!! *

Mary Kay Pampering Party: August 21, 2010

Thu, 19 Aug 2010 02:00:00 GMT

Mary Kay Marathon Day

MK Center ~ 1216 16th St. W. Suite #21

10 am ~ Good Morning, Beautiful! Party

Get ready for the day at this basic skincare class w/ dash-out-the-door color.

12 pm ~ Better Than Botox Party

Learn about and sample the most advanced skincare products available in the war on aging.

2 pm ~ Pamper Your Piggies Party

Indulge in a self-pedicure treatment while sampling multiple spa products.

4 pm ~ Advanced Glamour Party

Learn advanced glamour application tips while trying a professionally created make-up look.

6 pm ~ Girls Night Out Product Preview Party

Sample the hottest new products and learn about seasonal trends that are now and WOW.

8 pm ~ Nighty-Night Pajama Party

Experience the complete night time routine at this fun & casual girlfriend get-together.

For more information, to RSVP, or to place an order

contact Nicole Forrester at 406-697-3282

Tips on Cleaning up your credit

Wed, 18 Aug 2010 08:17:00 GMT

I've had a number of clients in the past couple of years ask me what they can do to clean up their credit in order to purchase a home. There are many things that can be done, one of the best advices I can give is to consult your financial advisor or give me a call and I'll direct you to a number of local resources, here in Billings to assist you.

I have a couple of these resources listed on my "Popular Links" Tab of my web site. Take a look! Have a great day and I look forward to working with you.

Click Here for Tips on Cleaning up your credit.

Click Here to go to my Links for local assistance (bottom of page)

or just simply call me at 406-697-3282

Open Houses for August 15, 2010

Sun, 15 Aug 2010 10:23:00 GMT

Check out our Open Houses

426 17th St West $172,900

from 12:00-3:00

2604 Keel $237,500

New Construction built by American Dream Homes, Four level front to back split, come check out the area.

from 2:30-4:00

1336 Cortez $264,900

from 12:00-4:00

606 Lacey $239,900

• 1/2 Acre lot in beautiful Sanctuary Canyon location

• Lockwood water, gas heat, central air included

• Open living area with vaulted ceilings & gas é replace

• 3 car garage, 3 bedrooms/ 2 baths

• Room to expand to 5 bdrm, 3 bath, and spacious family area

Other new homes available $225,000-$325,000 Five underway in area

from 12:00-4:00

www.Billings.org has all of your Open Houses on one site from all the Billings Brokerages. Call me today for your own personal tour on all Homes in the Billings and surrounding areas.

Have a great weekend!!!

Major FHA Changes Coming on September 7th

Thu, 12 Aug 2010 15:35:00 GMT

FHA (Federal Housing Administration) insured loans are headed for a big change. For those unfamiliar with FHA mortgages, these loans are insured by the government, which allows for flexible approval guidelines. This insurance is paid for by the borrower as an upfront premium collected at close and as a smaller premium collected on a monthly basis. These premiums are then pooled with those from other FHA borrowers to form an insurance fund.

In times of normal demand, the aforementioned process works pretty well, but with the demise of sub-prime mortgage options and collapse of the housing market, FHA loans have steadily grown in popularity. The increased demand has put significant pressure on the capital reserves of the insurance fund. As a result, Congress approved a plan this week to shore up the agency’s insurance fund with a reconfiguration of the mortgage insurance paid by borrowers on loans originated after September 7th.

Under the new structure, FHA requires a borrower to pay an Upfront Mortgage Insurance Premium calculated at 1% of the loan amount. The good news is that this is down from the 2.25% currently required. The bad news, however, is that the monthly figure will increase from a factor of 0.55% annually to a factor of 0.90% annually.

What does this mean for the consumer?

Let’s look at an example: assume a $150,000 home purchase:

BEFORE September 7, 2010

Upfront Premium (2.25%): $3,256.88
Monthly payment including mortgage insurance: $793.93

ON OR AFTER September 7, 2010

Upfront Premium (1.00%): $1,447.50
Monthly payment including mortgage insurance: $826.93

NET CHANGES

Upfront cost: Decreased by $1,809.38
Monthly cost: Increased by $33.00

Overall, these changes should not affect many borrowers; it may place home ownership out of reach for buyers who currently just squeak by. On the practical side, I would recommend that anyone currently in the market for a home to talk to a lender as soon as possible to see how the new FHA loan requirements would affect them. This is especially important for pre-approved buyers as these changes could nullify their approval status or change the assumptions under which they should be shopping.

Natalie Pigg

1575 Shiloh Rd, Suite H

Billings, MT 59106

406-652-6677 office

Open Houses for August 8, 2010

Sun, 08 Aug 2010 02:00:00 GMT

Check out our Open Houses

2604 Keel $237,500

New Construction built by American Dream Homes, Four level front to back split, come check out the area.

from 2:30-4:00

1119 12th Ave (Laurel) $211,900

Great Price in a wonderful neighborhood in Laurel. $15,000 PRICE REDUCTION!!!

from 1-3:00

1414 20th Street West $178,900

Great home with Large master suite on the lower level, with a large kitchen. Great location and on a corner lot

from 11:30-1:30

3126 Cabin Creek $359,900

Beautiful 5 Bedroom Home with a very Open floor plan and Amazing Master Suite

from 12:00-2:00

1212 Clark $149,875

Amazing 2 Bedroom Townhouse with a one car garage tucked beneath. Fantastic neighborhood in the center of Billings.

from 12:00-2:00

5441 Golden Hollow $309,500

Highly Energy Efficient home in Josephine’s Crossing Subdivision, Many upgrades then most homes in this subdivision. Priced to sell

from 2:30-4

www.Billings.org has all of your Open Houses on one site from all the Billings Brokerages. Call me today for your own personal tour on all Homes in the Billings and surrounding areas.

Have a great weekend!!!

Short Sales

Sun, 01 Aug 2010 02:00:00 GMT

Short sale (real estate)

A short sale is a sale of real estate in which the sale proceeds fall short of the balance owed on the property's loan.^[1] It often occurs when a borrower cannot pay the mortgage loan on their property, but the lender decides that selling the property at a moderate loss is better than pressing the borrower. Both parties consent to the short sale process, because it allows them to avoid foreclosure, which involves hefty fees for the bank and poorer credit report outcomes for the borrowers. This agreement, however, does not necessarily release the borrower from the obligation to pay the remaining balance of the loan, known as the deficiency.^[2]

Process

In a short sale, the bank or mortgage lender agrees to discount a loan balance because of an economic or financial hardship on the part of the borrower. The home owner/debtor sells the mortgaged property for less than the outstanding balance of the loan, and turns over the proceeds of the sale to the lender. Neither side is "doing the other a favor;" a short sale is simply the most economical solution to a problem. Banks will incur a smaller financial loss than would result from foreclosure or continued non-payment. Borrowers are able to mitigate damage to their credit history, and partially control the debt. A short sale is typically faster and less expensive than a foreclosure. It does not extinguish the remaining balance unless settlement is clearly indicated on the acceptance of offer.

Lenders often have loss mitigation departments that evaluate potential short sale transactions. The majority have pre-determined criteria for such transactions, but they may be open to offers, and their willingness varies. A bank will typically determine the amount of equity (or lack thereof), by determining the probable selling price from an appraisal or Broker Price Opinion (abbreviated BPO or BOV).

Lenders may accept short sale offers or requests for short sales even if a Notice of Default has not been issued or recorded with the locality where the property is located. Given the unprecedented and overwhelming number of losses that mortgage lenders have suffered from the 2009 foreclosure crisis, they are now more willing to accept short sales than ever before. This presents an opportunity for "under-water" borrowers who owe more on their mortgage than their property is worth and are having trouble selling to avoid foreclosure as a result.

Additional parties

Multiple levels of approvals and conditions are very common with short sales. Junior lien-holders - such as second mortgages, HELOC lenders, and HOA (special assessment liens) - may need to approve the short sale. Frequent objectors to short sales include tax lien holders (income, estate or corporate franchise tax - as opposed to real property taxes, which have priority even when unrecorded) and mechanic's lien holders. It is possible for junior lien holders to prevent the short sale. If the lender required mortgage insurance on the loan, the insurer will likely also be party to negotiations as they may be asked to pay out a claim to offset the lender's loss in the short sale. The wide array of parties, parameters and processes involved in a short sale makes it a relatively complex and highly specialized type of real estate transaction. Not surprisingly, short sale deals have a high failure rate and often do not close in time to prevent foreclosure when they are not handled by a knowledgeable and experienced professional.^{[citation needed]} The best sources of knowledge and expertise in short sales are short sale negotiators, Realtors who are short sale certified (a National Association of Realtors designation),loss mitigation specialists, and real estate lawyers who specialize in short sales. Quite often the average consumer isn't aware that the lien holder pays the Realtor commissions and without this critical information, they often allow the bank to foreclose.

Short sale success rates vary from state to state and from bank to bank. Bank of America short sales, as of 2009 are still the longest to be approved and have the highest failure rate.^{[citation needed]} Whereas, Citi and banks like Wells Fargo tend to move faster.^{[citation needed]} Smaller "local" banks tend to have their own rules, but will typically approve the short sale in days, not months.^{[citation needed]}

Consent

Short sales are different from foreclosures in that a foreclosure is forced by a lender, whereas both lender and borrower consent to a short sale. However, this consent may change at any time, and negotiations may be ongoing between the lender and borrower even while the short sale is on the market. The borrower may decide to remain and refinance their house, or become obstinate and force foreclosure. The bank may renege as well if they decide to stick with the current borrower, or if they disapprove of the sale price. Any short sale contract includes a contingency where the bank must approve the sale.

In the state of California, short sales can be tricky in that it's important for the qualified Realtor who is short sale certified to advise their client (the Seller) to seek the advice of an attorney and a CPA. There could be tax consequences if the loan(s) on the property are not purchase money. On the other hand, if the loan(s) on the property are purchase money (all the funds needed to purchase the property) then the loans are considered "non-recourse" and the debt is generally forgiven and satisfied at the end of the short sale.

Changing consent can present a perilous situation for potential buyers. It can waste considerable time and money for a prospective buyer who anticipated a sale. Typically, deposits with the bank will be refunded but money for paid inspections or other services cannot be.

There are several defenses against this. If the seller has moved out of a property, that is a clue that they have no intention of staying or negotiating further with the bank. "Bank Approved Short Sales" are advertised by real estate advertisements, indicating that a real estate broker has verified the selling bank's position. This still does not guarantee acceptance, and it often does not take junior lien-holders into account, but it is better than situations where the bank holding the mortgage has only been lightly involved in the borrower's decision.

Credit implications

Short sales are a type of settlement, and they adversely affect a person's credit report. The negative impact may be less than a foreclosure, but in some cases the effect is the same. Like all entries except for bankruptcy, short sales do not show on a credit report according to the Distressed Property Institute. The credit will restore within 18 months or so. Depending upon other credit information, it is possible to obtain another mortgage 1–3 years after a short sale, or less if the borrower is current at the time of the sale.^{[citation needed]}

While lenders sometimes forgive the remaining loan balance, other lien-holders likely will not. Further, it is possible for a lender to omit updating mortgage balances zero balance after a short sale. However, willfully misrepresenting information on a credit report can constitute libel in some jurisdictions, and lenders may be sued in civil court for engaging in this behavior.^{[citation needed]}

Business

Short sales are common in standard business transactions in recognition that creditors are not doing debtors a favor but, rather, engaging in a business transaction when extending credit. When it makes no business sense nor is economically feasible to retain an asset, businesses default on their debt. It is common for commercial debt to trade on the secondary market for a small fraction of their face value in realization of the likelihood of these future defaults. This is known as distressed debt.

Fraud

Lenders have been accused of engaging in fraud during the short sale process. Uncovered by Jeremy Brandt and reported initially by CNBC^[3], the fraud involves lenders in second position demanding kick backs in the form of cash payments from the home buyer or real estate agent, and that are not disclosed anywhere on closing documents or HUD-1 statement. This is in violation of RESPA rules, which require disclosure of such payments.

The Right Way To Make an Offer on a Home

Tue, 27 Jul 2010 15:19:00 GMT

The Right Way To Make an Offer on a Home

Protect yourself by having a professional agent on your side

The Tip:

Making an offer on a house is complicated and legally binding, so don't go into it alone. An experienced real estate agent will save you time and keep you from overpaying for your home.

It's the biggest first step you'll ever make—in real estate, anyway. Making an offer on a home makes just about everyone a little nervous, so here's some advice on making the process as smooth as possible.

Step 1–Get the Price Right

It's a classic misconception that you can save money on an agent's commission by handling the offer on your own. But a good agent's knowledge and experience can actually save you thousands on a home purchase.

For example, your agent can provide you a comparative market analysis on listing prices and sales prices for homes in the neighborhood of the one you're planning to purchase. If, for example, homes are selling for 5% less than their listing price, you can reasonably offer 8–10% less than the listing price, leaving yourself room to negotiate.

Be sure, however, to listen to your agent's advice. If the market is slow, you could offer less, or, if it's a seller's market, you could be quickly outbid.

When you've settled on a price, you'll make your offer using a standard purchase agreement that complies with the laws of your state. The agreement will include everything from the property's address and the price you're offering to details about who will pay for title insurance and inspections, and any state-required information.

Your offer is a legally binding contract—another good reason to work with a pro. A mistake in this document can cost you big.

Step 2–Negotiation

The seller can accept your offer as is, but that rarely happens. Sellers usually counteroffer by changing or adding to the terms of your offer. Your agent will help you understand how the counteroffer affects you, and, if necessary, develop a counteroffer of your own.

You'll be in a strong position to negotiate if you:

Are a cash buyer.
Are pre-approved (not pre-qualified) for a mortgage.
Don't have a house that must be sold before you buy.

Until both sides sign the agreement, either can reject the offer, ending all negotiations.

Work with the Best

This is a life-changing business transaction, so be sure you have a competent, trustworthy agent on your side. Our real estate Endorsed Local Providers are experts in your market who will be sure to get you the best deal possible.

Free For Sale By Owner (FSBO) listing site

Sun, 25 Jul 2010 12:41:00 GMT

www.BillingsAreaByOwner.com

Yes....believe it or not I do provide a FREE service for those trying to sell their homes on their own.

I understand that people are not able to use a real estate agent for certain personal reasons....and that's OK.

Just select the link, fill in some information on your home, answer two questions, and feel free to advertise the link anyway you feel.

If you have any questions just give us a call. Have a great Summer!!!!!

Damian

Forrester Group Real Estate

Century 21 Hometown Brokers

406-697-3282

www.BillingsAreaByOwner.com

Your For sale by owner home listed Free on the web site!

www.billingsareabyowner.com

Last year 78% of all home buyers started their home search ONLINE! This site puts your home in front of hundreds of qualified ready buyers daily.

Visit our complimentary site TODAY!

Take advantage of this great FREE offer by signing up at www.billingsareabyowner.com

Take advantage of this Free service just like hundreds of other for sale by owners have.

It’s just that EASY! Visit today!

This website contains information on homes for sale by owner, and is posted as a courtesy to home seller by The Forrester Group of Century 21 Hometown Brokers. Century 21 Hometown Brokers does not in any way represent the seller of the home, nor does Century 21 Hometown Brokers warrant any of the information contained, which was provided entirely by the home seller. This site is purely an advertising vehicle as a courtesy to homeowners selling their home by themselves. The Forrester Group of Century 21 Hometown Brokers may be reached at

http://www.forrestergrouprealestate.com

Open Houses for July 25, 2010

Sun, 25 Jul 2010 12:26:00 GMT

Check out our Open Houses

2604 Keel $237,500

New Construction built by American Dream Homes, Four level front to back split, come check out the area.

from 12:00-3:00

957 Adobe $197,900

The back of the home has views of Open Space with a great landscaped yard.

Great Home with a 2 car garage. New roof to be installed. plenty of storage, and large bonus room.

from 12:00-1:30

www.Billings.org has all of your Open Houses on one site from all the Billings Brokerages. Call me today for your own personal tour on all Homes in the Billings and surrounding areas.

Have a great weekend!!!

Open Houses For JULY 18, 2010

Sun, 18 Jul 2010 11:55:00 GMT

Check out our Open Houses

1119 12th Ave (Laurel) $211,900

Great Price in a wonderful neighborhood in Laurel

from 12:00-2:00

2604 Keel $237,500

New Construction built by American Dream Homes, Four level front to back split, come check out the area.

from 12:00-2:00

5441 Golden Hollow

Price Reduced to Sell ($30,000 price reduction) Highly Energy Efficient home in Josephine’s Crossing Subdivision, Many upgrades, Open Loft that can be substituted as a office or bedroom

from 12:00-4:00

1212 Clark $151,900

Amazing 2 Bedroom Townhouse with a one car garage tucked beneath. Fantastic neighborhood in the center of Billings.

from 2:30-4:00

1060 Sierra Granda $257,000

6 Bedroom Home, Motivated Seller, Price is negotiable, SUBJECT TO SHORT SALE AND THIRD PARTY APPROVAL. One owner, Fully finished Basement, Large Family Rm, Fully landscaped, Storage Areas, Unobstructed view from front door,

from 2:30-4:00

www.Billings.org has all of your Open Houses on one site from all the Billings Brokerages. Call me today for your own personal tour on all Homes in the Billings and surrounding areas.

Have a great weekend!!!

Open Houses For JULY 11, 2010

Sun, 11 Jul 2010 02:00:00 GMT

Check out our Open Houses

957 Adobe $197,900

The back of the home has views of Open Space with a great landscaped yard.

Great Home with a 2 car garage. New roof to be installed. plenty of storage, and large bonus room.

from 2:30-4

2604 Keel $237,500

New Construction built by American Dream Homes, Four level front to back split, come check out the area.

from 12:00-4:00

5441 Golden Hollow

Price Reduced to Sell ($30,000 price reduction) Highly Energy Efficient home in Josephine’s Crossing Subdivision, Many upgrades, Open Loft that can be substituted as a office or bedroom

from 12:00-2

1339 Cortez $220,000

Custom home by Classic Design Homes, 3 bedrooms, 3 full baths, vaulted ceiling, open kitchen w/island, pantry, breakfast bar, owners suite w/walkin closet, tray ceiling, full bath, oversized 2 car garage, room to expand in the lower level

from 12:00-2

Billings.org has all of your Open Houses on one site from all the Billings Brokerages. Call me today for your own personal tour on all Homes in the Billings and surrounding areas.

Have a great weekend!!!

Open Houses For JUNE 27, 2010

Sun, 27 Jun 2010 08:25:00 GMT

Check out our Open Houses

Emily’s Open Houses

2604 Keel $237,500

New Construction built by American Dream Homes, Four level front to back split, come check out the area.

from 12:00-2:00

957 Adobe $197,900

The back of the home has views of Open Space with a great landscaped yard.

Great Home with a 2 car garage. New roof to be installed. plenty of storage, and large bonus room.

from 2:30-4:00

Damian’s Open Houses

3126 Cabin Creek $359,900

Beautiful 5 Bedroom Home with a very Open floor plan and Amazing Master Suite

from 12:00-2:00

1060 Sierra Granda $276,450

from 2:30-4:00

Billings.org has all of your Open Houses on one site from all the Billings Brokerages. Call me today for your own personal tour on all Homes in the Billings and surrounding areas.

Have a great weekend!!!

Alternative Craigslist Search

Sun, 27 Jun 2010 07:25:00 GMT

If you want to expand your Craigslist search outside of the city you live in or try and at least tap into other markets in your state, then this site will explain allow you to cross-search classified postings in other cities in your state on Craigslist that you can not otherwise select. I hope this helps.

Click Here

Read more: How to search Craigslist postings for your state | eHow.com http://www.ehow.com/how_5812102_search-craigslist-postings-state.html#ixzz0s3Rsv1FP

Mortgage rates hit all-time low

Fri, 25 Jun 2010 02:00:00 GMT

Contact your Local Loan Consultant today, or feel free to contact us for a list of Mortgage consultants that we Trust and that will be available to assist you now.

There are Great Mortgage Rate available.

Article provided by the Washington Post

View article here

Alberta Bair Theater 2010-11 Show List

Thu, 24 Jun 2010 14:16:00 GMT

Alberta Bair 2010-11 Show List

Date Time Day Show

Aug 1, 2010 8:00 pm Sun Josh Turner

Sept 9, 2010 7:30 pm Thurs Clint Black

Oct 5, 2010 7:30 pm Tues Punch Brothers

Oct 9, 2010 7:30 pm Sat Oklahoma

Oct 28, 2010 7:30 pm Thurs Hubbard Street 2

Oct 30, 2010 8:00 pm Sat Rocky Horror Picture Show

Nov 18, 2010 7:30 pm Thurs Grease

Dec 4, 2010 7:30 pm Sat A Montana Christmas

Dec 8, 2010 7:30 pm Wed Wizard of Oz

Dec 9, 2010 7:30 pm Thurs Celtic Yuletide

Jan 2, 2011 7:30 pm Sun Chorus Line

Jan 14, 2011 7:30 pm Fri Christopher O'Reilly/

Matt Haimovitz

Feb 5, 2011 7:30 pm Sat Wailin Jennys

Feb 8, 2011 7:30 pm Tues Ten Tenors

Feb 11, 2011 7:30 pm Fri Bus Stop-Montana Rep

Feb 12, 2011 7:30 pm Sat Air Supply

Feb 24, 2011 7:30 pm Thurs One Night of Queen

Mar 5, 2011 7:30 pm Sat Midsummer Nights Dream

-Aquila Theatre

Mar 9, 2011 7:30 pm Wed Avenue Q (Adult Content)

Mar 16, 2011 7:30 pm Wed Step Africa

Mar 18, 2011 7:30 pm Fri Spamalot

Mar 23, 2011 7:30 pm Wed Flying Karamazov Brothers

Apr 9, 2011 7:30 pm Sat Carpe Diem Quartet

Apr 12, 2011 7:30 pm Tues In-Pulse w/Local Choirs

Apr 19, 2011 7:30 pm Tues Eileen Ivers

May 3, 2011 7:30 pm Tues Tiempo Libre

June 25, 2011 11:00 am Sat Wild West Soiree

*Dates and times may be subject to change.

Visit http://www.albertabairtheater.org/ for Tickets and Details

Advantages for FHA Financing

Thu, 24 Jun 2010 02:00:00 GMT

Advantages for FHA Financing

Current loan limit for 2010: $291,250 for single family home

Low Down Payment! Only 3.5% cash investment required by borrower.
Upfront Mortgage Insurance Premium (UFMIP) may be financed or paid in cash by a seller.
Gifts are permitted for entire down payment and closing costs.
Liberal qualifying ratios. (29% to 45%)
Seller paid contributions allowed up to 3% of sales price for closing costs, discount points, prepaid taxes & insurance and UFMIP.
NO INCOME LIMITS!!
No monetary reserve requirement after closing.
An FHA purchase money mortgage combined with certain down payment assistance programs allow for limited out of pocket cash by the borrowers!!
Liberal rules for non-occupant co-borrowers
High LTV of 85% for cash out refinance

Information Provided by:

Natalie Pigg

American Mortgage

1575 Shiloh Rd, Suite H

652-6677

natalie.pigg@nflp.com

americanmortgageofmontana.com

Big Sky Virtual - Virtual tours for all types of Businesses

Wed, 16 Jun 2010 02:00:00 GMT

Welcome to Billings, Montana ONLY Locally Owned Virtual Tour Company.

Visit us today

Big Sky Virtual

KEEPING SEVERAL STEPS AHEAD OF YOUR COMPETITION HAS NEVER BEEN EASIER! BUSINESS PROFESSIONALS EVERYWHERE ARE NOW LEVERAGING THE POWER OF OUR CUTTING-EDGE VIRTUAL TOUR AND ONLINE SYNDICATION TECHNOLOGIES!

We understand that as a small business owner, sometimes it seems like a daunting task to select just the right marketing strategy to turn heads and make YOUR business stand out against the competition. Our state-of-the-art services include fully interactive 360 virtual tours, professional photography services, powerful slideshow presentations, interactive 2D and 3D floor plan services, incredible 'have-to-see-it-to believe-it' 3D walkthrough video presentations, panoramic sign riders with included business landing websites, comprehensive online syndication, professional voice-over recordings and so much more!

LEARN HOW OTHER SMART PROFESSIONALS ARE GROWING THEIR BUSINESSES ONLINE!
REQUEST AN INFORMATION PACK TODAY!

Contact us Today

406-697-3282

P.O. Box 51120, Billings, Montana 59105

Phone/Fax (406)697-3282

www.BigSkyVirtual.com

Insider Secrets on Your Credit History?

Tue, 15 Jun 2010 12:13:00 GMT

Do you have a dream of owning your own home someday? Wouldn’t you like to take the rent you are paying today & apply it to your own home? Here are a few secrets to know to increase your ability to be approved for a home loan now, or in the future!

Credit is a huge factor when approving someone for a home loan…credit score, credit history(past, present, future), type of credit, balances of credit, age of credit…if you financially can be approved for a loan, but do not have any credit, or have unresolved blemishes on your credit, your loan may be denied. Let’s look at each of these individually…

1. Credit Score-you will need at a FICO score of at least 600 in order to obtain a home loan…in some cases, if the score is below 600 & we have good compensating factors(good job history, good wages, good bank reserves, good debt to income ratios), we may be able to make an exception.

2. Credit History-how you have used & currently use your credit plays a big part in the approval process. The lenders want to see that you are making payments on time & are not over-extending yourself w/large purchases, maxed out credit cards, etc, because they don’t want to put you in a position of not being able to make your mortgage payment(or any other payments) in the future. It is okay if you have had credit challenges in the past(we all have), as long as those items have been cleared up & you have built good credit since that time. A good example would be a bankruptcy…we understand life happens & bankruptcies are a part of life. As long as you have maintained a good credit history since that time, you will have a good chance of being approved for a home loan. This is the same with collections, as long as the collections are paid & a clean credit history has been built, the collections will not have a negative effect on a home loan approval. Making your payments on time is also a major factor in determining credit scores…one 30 day late(a payment made more than 30 days past the due date) can drop your score up to 100 points, even if it is just on a credit card. It is important to make those payments on time each month.

3. Type of Credit-the type of credit on your credit report may not play a direct role in your loan approval, but it will have a direct effect on your credit score, which in turn will have an effect on your approval. It is best to have a mix of debt on your credit report, for example, secured installment loans, student loans, revolving(credit cards)…the type of debt that has a negative impact on your score are unsecured loans, & loans from high risk institutions. These loans are considered high risk due to the lack of collateral & will have a negative impact on your score. It is best to take out secured loans when you can.

4. Balances of Credit-The biggest impact to your credit score regarding the balance of the debt comes from credit cards. The credit bureaus are aggressively lowering credit scores when the balance owed on a credit card is close to the credit limit…if you can, it is best to pay the cards off each month, or keep a balance that is less than 30% of the credit limit. If you go over the credit limit, your score may be impacted as much as 50 points or more, so it is important to keep an eye on the balance of your cards.

5. Age of Credit-In order to accurately determine someone’s ability to repay credit, you need to have debts actively reporting on your credit report for at least 12 months. What the lenders are looking for specifically is 3 open & active tradelines(open debts on credit report) that have been reporting payments for at least 12 months. If you don’t have at least 3 open/active debts, we can verify a 12 month rental history & verify a 12 month utility history. Having no credit, or paying cash for everything can affect you just as negatively as having bad credit. When someone does not have any credit, it is hard for the lender to determine the credit worthiness of a borrower because there is no payment history to be verified. It is especially hard when someone has been living at home & doesn’t have any debt to their names because everything is in the parents’ names & cash is paid for everything. It is vitally important to build your own credit history…you can do this by opening up a few low limit credit cards, charging a very small amount on them & paying them off each month, so you can begin to build a payment history with the credit bureaus. If you are living w/roommates, it is best to get your name put on the lease, so we can verify a rental history for you. It is also important to get your name put on utilities so we can verify a 12 month history to help build a payment history, in case you don’t have 3 debts on your credit report to verify.

Don’t let unresolved credit blemishes scare you away from trying to get approved for a home loan. One way to get those cleared up is to call the creditors & negotiate a lower settlement with them(as most of the balance is probably from fees & interest charges), or set up a payment plan to get those items paid off. This is beneficial to you as it will help clean up your credit, will increase your credit score, & if on a payment plan, will help build a payment history.

With these insider secrets, you can prepare yourself & your credit to be approved for a home loan! With record low interest rates, good home inventory & great home prices, now is the time to look at getting your own home!

DeDe Stoner

Mortgage Consultant

Guild Mortgage Company

3333 2nd Ave North

Billings MT 59101

406-237-0104 Direct

406-208-4404 Cell