For more info, visit www.danlavinder.com
Category Archives: Finances
Declining Foreclosure Activity
Per foreclosureradar.com, September 2012 California Notice of Defaults were down 20.7 percent from the prior month, and down 48.1 percent compared to last year. There has been speculation that the banks would rush to clear inventory before the CA Homeowner Bill of Rights takes affect in January 2013, causing an increase in the number of foreclosures. Clearly this is not the case as we continue to see the number of Foreclosure Starts decline. Notice of Trustee Sales remains basically flat, up 1.9 percent from the prior month.
Credit Report Item That Scares Lenders
You pay your bills on time and never miss a payment. If you’re still having trouble with credit, something on your credit report could be scaring lenders. Different lenders zero in on different credit report items. So it’s entirely possible that, even for the same loan, no two lenders will see your credit history in exactly the same light. Here’s one item that could scare lenders:
Be Wary of Paying Up-Front Fees to Contractors
The Contractors State License Board (CSLB) is alerting California consumers who are considering hiring a painter, landscaper – or any other type of construction contractor – that it is illegal to ask for or accept a down payment of more than 10 percent of the total home improvement contract price of $1,000, whichever is less.