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I have been in the real estate business since 1996. I listed and sold property from 1996 to 2006 during the height of the Mortgage mayhem of bungling – oops, I mean bundling mortgages. I KNOW many of my clients had their loans sold within seconds of closing and many were pre-sold before closing. The mortgages were then sold and then sold and then sold.

With the Foreclosures in the Headlines and the Foreclosure Freeze, perhaps your clients may want or need to know who is holding their note? I haven’t tried this yet and don’t know if it shows a chain of lender transfers, but it may be just a start.

You may want to send a mass mailing to your clients/contacts with this little bit of information – or put on your Facebook Page or Tweet.

Where’s the Note?

moneywatchcbnc/By Ilyce Glink | Sep 30, 2010

Do you live in a city with the highest credit scores in America? And if you do, does it matter when you go to get a loan?

Experian, one of the three major credit reporting bureaus, released a new feature called LiveCreditSmart.com. (You can also get to it under the “Credit Education”
button on the company’s main website.) The site lists the U.S. cities with the highest and lowest credit scores.

Credit scores, on the scale created by Fair Isaacs Corporation (called a FICO score), range from 300 to 850. According to Credit Karma, in August, 2010 the
average American’s credit score was 667.

Less than 1 percent of the population has a credit score above 800, so it’s pretty unlikely you’ll see a 850 credit score. If your credit score is above 720, you will
probably still receive the best interest rates (a score above 780 is welcomed with open arms these days by lenders) and it boosts your chances of being able to get loans.
No city in the country has an average score over 800, but the cities at the top are pretty close.

Cities With The Highest (Average) Credit Scores:

Minneapolis, 1. MN – 787
Madison, WI – 785
Cedar Rapids, IA – 781
Green Bay, WI – 780
San Francisco, CA – 780

The Midwest dominates the list (it seems to be doing that a lot lately). The region has been topping several
categories I’ve blogged about recently, including most affordable real estate markets and most
recession-proof cities.

Don’t pack your bags and head to Minnesota yet though, living in the city won’t boost your credit score, that takes
time and hard work (plus it’s going to snow up there soon).

Here are three easy things you can do to raise your credit score right now:

Pay your bills. The easiest way to raise your credit score is to pay all of your bills, in full, on time, every month. Never carrying a balance if you can help it.
Check your credit report for errors. Fraudulent activity on your accounts can bring down your credit score, and no one is going to tell you about it. It’s your
responsibility to check your credit report for any inaccuracies. You’re entitled to a free credit report once a year from each of the three credit reporting bureaus-
Experian, Equifax and TransUnion-at AnnualCreditReport.com. That means you get three FREE reports each year. Be sure to use them

Don’t open new credit cards. You’re lining up to buy a couple hundred dollars worth of merchandise from your favorite chain store and they offer you 20
percent off your purchase if you open a credit card. Don’t do it! The immediate benefit of 20 percent off is generally not worth the negative effect those extra
cards cause on your credit score. (My own credit score got hit when I tried this, although it has now bounced back.)

Still wondering who has a perfect credit score of 850 and how you can get one? Watch this video I did with Steve Ely, former president of Equifax Personal
Information Solutions: click here for the video

(Be sure to check out LiveCreditSmart.com to see how your city and state measure up.)

Today on TBWS video newsclip, they asked the question, “How many FHA loans are used in today’s market”? In the market I used to worked in, FHA loans made up most of my sales. 3.5% down, low interest rates made up for the extra paperwork. And one thing I didn’t know and just learned on the FHA website, is that clients can use FHA Loan to finance 3 and 4-plexes! Doesn’t THAT open up a whole new opportunity to list and sell property??

Take some time out and review the links below … it just may make a difference in a sale for you today.

FHA Loan Requirements

FHA Loan Limits for your State

Widget for FHA Loan Limits for your blog or website. (this is SO cool!!)