My Latest Reviews

Everyone can toot their horn every now and then, right? Well, as you know- My Team Rocks! Here are some of our latest reviews on Zillow:

-Highly likely to recommend

08/19/2014 – Talbert Family

Bought a Single Family home in 2014 in Graniteville, SC
Both Sonia and Natalie worked very hard to ensure my husband and I found and obtained the perfect home for our family. They coached and assisted us with negotiating our offer down $9,000 and also got us some extra perks like blinds for the entire home and ceiling fans for all our bedrooms. They both know the home buying process well enough to make anyone comfortable with buying a home. Not only were they well versed in all aspects in home buying, they were more than realtors. They were counselors and our best cheerleaders. Moving is very exciting, but can also be a stressful time. It took longer than 5 months for us to bid on houses and then settle on purchasing a new construction home. We also had delays with closing. However, Sonia and Natalie were patient and kept us encouraged throughout it all. We were blessed to have them on our team and would not hesitate to refer either of them.
- Highly likely to recommend

07/11/2014 – Jim

Bought a home in 2014.
- Highly likely to recommend

07/27/2014 – Patrick

Bought a home in 2014.
I just recently bought my first home with the help of Heather Story. She showed me a few homes until I found what I needed. After deciding on the house I wanted, she had the negotiated contract ready and signed by the seller the next day! She made buying my first home very quick and easy. HIGHLY RECOMMENDED!

Credit Scores may be changing…

FICO, the nation’s most popular credit-scoring system, announced it is tweaking some of the criteria used in coming up with consumers’ scores, which could help consumers save more money in qualifying for mortgages and other types of loans.

FICO recently told lenders their high credit score “cutoffs” were stricter than necessary, and urged lenders to consider lowering minimum score requirements.

The changes include reducing the toll that overdue medical bills can take on credit scores, as well as removing other past penalties from consumers who have paid off debts that had been assigned to collection agencies. A consumer whose only major delinquency comes from an unpaid medical bill could see their credit score rise by 25 points due to the changes.

The changes come after a recent Consumer Financial Protection Bureau study, which found that both paid and unpaid medical debts were unfairly penalizing consumers’ credit ratings. An estimated 64 million Americans have a medical collection item on their credit reports, according to Nick Clements of Magnify Money, a personal finance site.

The FICO changes will go into effect this fall, but borrowers may have to wait a year or more until they see the impact of the changes in their scores, lenders say.

The changes may help consumers with blemished past credit histories or high medical debts qualify for mortgages more easily. Consumers with higher scores also might qualify for a lower rate, housing experts say.

“In recent years the [credit score requirement] has been dialed so tightly that only fairly upper-tier consumers were able to qualify for a loan,” says Lawrence Yun, National Association of REALTORS®’ chief economist. “We’re looking at people who are currently being denied potentially being offered a mortgage because of this.”

In June, the average FICO score for a closed mortgage was 728, a drop from 742 a year prior, according to data from Ellie Mae, a company that processes mortgage applications for lenders. FICO scores range from 300 to 850.

Borrowers with higher FICO scores can usually expect to pay less in interest on a loan. A borrower with a FICO score of 675 may nab a 4.75 percent interest rate on a 30-year fixed-rate mortgage, which would be about  $2,086 a month in payments on a $400,000 loan, according to Informa Research Services. In comparison, a borrower with a 700 FICO score may qualify for a rate of 4.212 percent, which could drop the monthly payment to $1,959 and bring a $127 savings.

The credit scoring changes will not remove any unpaid debts from a credit report, so some lenders may still be able to factor that information into their lending decision.

“This move will ultimately make a real difference in the lives of millions of Americans, who have been shut out of the housing market or forced to pay higher mortgage interest rates because of flawed credit scores,” Steve Brown, NAR’s president, said in a statement. “Since the housing crash, overly restrictive lending has been the greatest obstacle to home ownership. NAR will continue to support efforts to broaden access to credit for qualified homebuyers.”

In other news, two of the big national credit bureaus Experian and TransUnion recently reported they’ve  added verified rental payment data into credit files, which will be used to compute a consumers’ score when applying for a mortgage. A recent TransUnion study showed that the inclusion of rental data could raise some consumers’ scores. For example, nearly 20 percent of renters’ scores rose by 10 points or more after just one month.



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