How about a mortgage with an interest rate as low as one or two percent?  Wow!  The payment on an adjustable rate mortgage may sound great but as the old adage goes: if it sounds too good to be true, it probably is.  (more…)

Pssst…..thought you might want to know that the Credit Repair Organizations Act prohibits a credit repair company from making false and misleading claims and for billing in advance for its services.  A federal judge has ruled against a bogus credit repair company (ftc.gov/opa/2006/06/badcreditbgone.htm) for just that.  Bad Credit B Gone, LLC and Joseph A. Grazziola III have been ordered to pay more than $322,000 for violations of the CROA. (more…)

These letters speak for themselves.  A real life dispute letter written to NCO collection company.  The response letter from NCO authorizing the deletion of this collection.  In seven days this borrowers score went from 672 to 745.  

Broken Credit, LLC will debut its free online seminar titled “Raise Your Credit Score” in July.  The seminar is approximately thirty minutes in length and will be streamed at 12:00 noon on Saturdays.  The seminar is free; however, advance registration will be required. (more…)

The real estate market has been showing signs of slowing and more and more properties are advertised for sale; however, one real estate transaction type is gaining in popularity and that is the “seller held second”.  In such a scenario, the seller holds a second mortgage allowing the buyer to purchase the home with no-money-down.  The down payment is effectively financed with the “seller held second”. (more…)