Hi Everyone,
Here’s the follow up from class:
Here’s the link to the MyFico.com website. I really like this page because it provides an easy to understand explanation of ones Fico score and will help homeowners better understand how a loan mod, foreclosure, or short sale will effect their credit score.
I asked a loan originator I know if she would be so kind as to help your homeowners read their note if they have questions about their ARM regarding payment recast v. rate reset. Of course she said she would be happy to help you. Here’s a link to Rhonda’s blog.
We talked about the crisis still underway with our nation’s banks. Here’s a story that was posted this morning about the 419 problem banks and the FDIC insurance fund.
Thanks for coming to class and I hope you all have a great weekend!