Lexington Law

Is there a reputable company to rehab people's credit who doesn't just take consumer's money? I don't know where this company came from or how long they've been in business, but I've heard their name mentioned many times in the past few months.  For years, potential home buyers have asked me for recommendations on whom they can go to for credit disputes and resolutions.  Until now, I wasn't recommending anyone because all the companies appeared to do the same thing.  They take your hard earned money and don't improve your credit score at all. I told my customers the same thing.  " Until I find a company that actually improves credit scores and actually earns their money, I don't recommend anyone as being reputable".

Lexington Law has been a company whom I've heard many wonderful stories from adding 100 points to a borrower's credit score within a few months, to removing old collection accounts that were in dispute within 30 days.  I will highly recommend them to anyone who asks for a reputable company that actually does what they say they are going to do for a consumer.

Andy Williams
President
Abacus Regional Mortgage
484 695 5972
NMLS # 118317

3 Great Reasons for Selling Your Home Now!

Even if you, as the seller, are taking a loss from what you paid , you are still making out.  Here are three great reasons why:

1. You may be losing as much as 20% of your value on the sale of your home, but the owner of the home you are buying is doing the same thing.  Because you are buying, the savings for you is larger than the loss.  For example, you sell your house for $ 160,000 which originally cost $ 200,000,  this is a $ 40,000 loss ( 20%).  The home you are looking to purchase is $300,000, but the owner paid $ 375,000 when they originally bought it.  They too lost 20%, but their loss is more since it is based on a much more expensive home than the one you are selling, because they originally paid $ 375,000.  They lost $75,000 and you lost $40,000.  Your net gain is $ 35,000.

2. The interest rates are again at New historic lows, so you will get the lowest interest rates ever!  Not only will you buy a home for much less money than the same house cost a few years ago, but the monthly payment will also be significantly lower, too.

3. The level of selling activity has picked up in the past 8 months.  The National Association of Realtors has seen a steady rise in the number of homes sold since the fourth quarter of 2011. This is making it a great time to find a buyer for your home.  Why not take advantage of all these factors and buy a new home now...even if it means taking less money to sell your home.

Andy Williams
President NMLS #118317
Abacus Regional Mortgage NMLS # 113984
484 695 5972

Aren't interest rates supposed to increase at the beginning of the year?

As long as I've been doing mortgages ( 21 years and counting ), I have witnessed interest rates climbing after the new year. There is always a rush of new business after the holidays with many new buyers calling to get prequalified to purchase a home. The powers that be from Wall street and Washington DC have come back from their two week vacations, and they are ready to get back down to the business of controlling the housing industry. As the market improves, the interest rates start to rise. This year is a little bit unusual in that the activity has increased, but the interest rates have had an inverse effect. They have dropped further from their already historic lows of 2011. Hopefully they will stay low for the short term so we can see some increase in real estate activity throughout 2012.

Andy Williams
President
Abacus Regional Mortgage
484 695 5972

Ask the "Mortgage Man": USDA Announces changes to PMI insurance

Ask the "Mortgage Man": USDA Announces changes to PMI insurance: Effective today, October 1st, the USDA has announced the changes to their up front Funding Fee. The amount of up front insurance premium th...