James Spray's Blog

What Is A Purchase Reverse Mortgage? By way of background, this blog presents the general facts about any reverse mortgage. Let’s talk specifically about the purchase reverse mortgage, which is otherwise known as the Home Equity Conversion Mortgage (HECM) for purchase. This product was created by th

Rebuilding credit is not an overnight process, but it can be done sooner than many think possible. And yes, this can be done while one is making monthly payments in a Chapter 13 Bankruptcy Plan. The credit rebuilding process takes several months, often more than a year, to establish decent credit. S

In March 2012, the National Mortgage Settlement with the Attorneys General of all 50 States was agreed in the amount of Twenty Five Billion Dollars. The following information was just emailed to me by Colorado State Representative Beth McCann. Representative McCann is a wonderful person as well as o

First, let’s begin with the official word on Credit Repair. As stated by the Federal Trade Commission (FTC), which I will summarize: only time and the proper use of credit will improve your credit rating.  While there is merit to this statement, the logic behind the statement assumes a perfect syste

It is our pleasure to discuss and offer the placement of Home Equity Conversion Mortgages (HECM) for the benefit of our clients. These are best known as Reverse Mortgages. The type of Reverse Mortgage we offer, and the only kind available in Colorado, is the one insured by the Federal Housing Admini

[It is my pleasure to introduce a guest writer for this post. Cristine L Masson has been recognized for her achievements in working on behalf of her clients best interests. I first met Cristine about 15 years ago and heartily attest to her skills and commitment. She has over 24 years of experience a

Refinance after Chapter 7 bankruptcy.

The WordPress.com stats helper monkeys prepared a 2011 annual report for this blog. Here’s an excerpt: A San Francisco cable car holds 60 people. This blog was viewed about 3,000 times in 2011. If it were a cable car, it would take about 50 trips to carry that many people. Click here to see the [...

Related Industry FICO® Score Requests According to FICO®, credit which is requested within the same industry – in particular mortgage and auto – shall only count as one credit hit to the borrower within a 45 day period.  Looking for a mortgage, auto or student loan may cause multiple lenders to requ

Adverse Credit Event Loan Type     Foreclosure Short Sale /Deed- In-Lieu of Foreclosure Chapter 7 Chapter 13 Conventional Date of loan application • 7 years from transfer of deed  • 3 years from transfer of deed if the borrower puts 10% down • 7 years if borrower puts less than 10% down • [...]