Credit misconceptions
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Someone sent this to me but i can’t remember who. Thought i’d pass it on anyway.


1) “Free” credit report scores are accurate and reflect mortgage report scores. No.
For the purposes of obtaining a mortgage; free credit reports are literally worthless.

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Can i have the deed, please?
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Can I have the deed please?
When talking to sellers, your main objective is to get the deed with as little money out of your pocket as possible. The deed is the most important and powerful method of controlling a property. Sure you can control with out owning but that is not my first choice. The ideal result is to have them deed you the property, subject to the mortgage. You are not assuming it. You agree to make the payments, but your name is not going on the loan. The concept is like when two people who are married buy a house and qualify for a loan together. Then they get divorced and the wife usually stays in the house with the kids. The deed is transferred to her alone but his name stays on the loan until it is either refinanced or sold. The husband’s credit is still at risk and he hopes she will pay.

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Wells Fargo indicted
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Wells Fargo was sued by U.S. attorney’s office in Manhattan.

FHA is saying that wells approved thousands of fraudulent loans that FHA had to cover since they insure the loans. FHA is a quasi-government arm and they got hammered because they had to cough up billions in insurance when the loans went bad.

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