Category Archives: Do’s and Don’ts

Common Mortgage Scams and How to Avoid Them

February 4, 2014
By: cometrealty

During the recent housing crisis, scams became quite common. Here are some typical hoaxes, and advice on how to avoid being duped. 1. The Savior ScamIf you’ve ever been on the brink of foreclosure, you’re already well aware of the flood of letters, emails and phone calls you’ll receive offering to help save you from your situation. When homeowners fall behind on mortgage payments, the lender files a Notice of Default, making the mortgage troubles (and property address) public record. This makes the homeowner easy prey for…
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Should You Buy a Fixer-Upper?

August 13, 2013
By: cometrealty

Infographic compliments of Credit Sesame Contact your favorite Comet Realty agent to help you find the perfect house, which may or may not be a fixer upper upon review of the above info graphic!  805.546.9925 Info@CometRealty.com


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RED ALERT – Urge Your Senator to VOTE NO on SB391!

May 30, 2013
By: cometrealty

Senate Pulls Dirty Trick!Tries to Punish C.A.R. for Opposing Recording Tax by Holding C.A.R.’s Tax Relief Bill Hostage  Call Your Senator NOW! Urge a NO Vote on Recording Tax  In a surprise move last week, the Senate Appropriations Committee linked C.A.R SPONSORED bill, SB 30, which provides tax relief to those who are selling a home in a short sale to SB 391, a C.A.R.-opposed bill that creates a recording tax, using a shameful political maneuver to force C.A.R. to support the recording tax. As…
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How to pump up your credit score

May 25, 2012
By: cometrealty

To avoid another real estate bubble, many lenders have tightened their mortgage requirements.  According to a report by the Federal Reserve, a majority of banks are less likely to offer loans to people with a FICO score of 620 and a 10 percent down payment than they were in 2006.  Lenders were also less likely to do so even for those with a score of 720.  The good news though is there are some tactics that consumers can employ to raise their scores. Making sense…
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Six Must Haves for Mortgage Approval

March 12, 2012
By: cometrealty

Interest rates are hovering around historical lows, and low interest rates increase affordability, making it easier for buyers to qualify. Yet stories of buyers waiting months to gain loan approval and home purchase transactions not closing on time due to lender’s strict underwriting are all too common.Some buyers are turned down for illogical reasons. For instance, if you have investments — even if they’re performing well — an underwriter might deny the mortgage because your portfolio doesn’t fall into the underwriter’s risk assessment model.One couple…
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Getting Ready to Buy a Home? Lender Do’s & Don’ts

November 29, 2011
By: cometrealty

There are 4 things you should avoid doing prior to submitting a loan application, or during the loan process, according to Kevin Hauber of iMortgage. Any one of these things can greatly impact your ability to qualify for a mortgage loan, so it is critical to avoid doing any of these until AFTER your loan has closed escrow. DO NOT PAY OFF BILLSYour loan officer will advise you if it is necessary to pay off bills to help you qualify for a loan. They will…
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