Mortgage Blog, it’s a Mortgage Blog! I can almost hear the music playing from an old Star Trek episode – da-na, da-na, da-na, da-na – look out, it’s a mortgage blog! As I type this, I see that my spell check continues to highlight the word “blog” and it apparently was not included in the dictionary (ok, I’m using Word 2000). In any event, blogs are relatively new and there’s no reason to feel bad if someone doesn’t know what exactly is a blog, let alone what is a mortgage blog. A year ago, I didn’t know what a blog was. Today, Google has BrokenCredit.com listed on the first page of 50+ Million sites for the search terms: credit blog. How that happened, I do not know. What I can share with you is our concept of a blog and how it applies to the mortgage industry.
A blog should have a theme. Our theme (purpose and/or mission statement) is:
“The Broken Credit Blog was created to assist the general public with information about credit repair and responsible mortgage lending”.
We believe these two subjects go hand in hand. In many cases, the difference in a credit score of one or two points may be the difference between one or two percent in interest rate or it may even represent the difference between mortgage approval/rejection. The precise calculations employed by FICO are proprietary and secretive, not unlike the exact formula for Coca-Cola. The Broken Credit Blog seeks to take the lid off of this black box called ‘credit scoring’.
A blog should have contributors. This is our strength. The Broken Credit Blog has a surplus of contributors who are mortgage and real estate industry professionals, as well as individuals who have been kind enough to share their personal experiences. All of the contributors have been given anonymity. We feel that providing this anonymous platform from such a diverse group of contributors yields the most helpful information to the readers.
A blog should have an audience. Our audience is you, the consumer. There are a number of quality mortgage blogs that are tailored to an industry audience and this is great. Our mortgage blog is different. We cater to the general public. We’ve decided to create a blog as a forum for delivering free advice and insight to the people that need it most, the consumers.
From the information discussed above, we trust you have a clear understanding of our purpose in presenting this mortgage blog. We encourage you to consider acting on this information if and when the need arises in your personal situation.