Benefits to Mortgage Debt

In order to buy a house, most Americans take on a mortgage loan. While debt is usually to be avoided if possible, when it comes to a mortgage there may actually be some financial benefits for borrowers. Liquidity If you dump all your extra funds into paying off your mortgage, you may be in a tight spot if you face a financial emergency. Family deaths, divorce and health traumas are just a few things that can quickly rack up enormous debts. If you do not have a sizable emergency save up and you have been sinking all disposable cash into your home, you may end up selling your home to pay f...

June 5th, 2019 | Debt, Credit, Mortgage, Benefits to Mortgage Debt

The Magic Wand to Get That Collection Off Your Credit Report!

The Magic Wand to Get that Collection Off Your Credit Report!  Robert T. Lord   Mortgage Loan Officer at 1 STOP Mortgage   NMLS Lic. 216638 One of the quickest ways of raising a credit score is getting collection accounts removed from a credit report.  A collection account will stay on one's credit report for seven years no matter if it is paid or not. In other words the damage was been done to the credit score. However, there is the magic wand called a deletion letter which can remove the unpaid negative collection account on the credit report. Here is how it wo...

September 16th, 2016 | Debt, The Magic Wand to Get That Collection Off Your Credit Report!

What You Must Know About Your Student Loan Debt!

 Today an excellent synopsis of Student Loan Debt and how it relates to getting a Mortgage was posted by Sheri Jones, Real Estate Agent with Prudential California Realty in Rancho Cucamonga, CA for the ActiveRain community.She says, and we post her article here:"For first time homebuyers carrying student loan debt, there are rules that were put in place at the end of 2014 that affect how you qualify. Before September 2014, FHA treated those with student loan debt graciously on DTI (debt to income) calculations. If an applicant was granted a a payment deferrment for at least 12 months...

March 9th, 2016 | Debt, What You Must Know About Your Student Loan Debt!


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1 STOP MORTGAGE | NMLS#215671 | TN Lic#108931 | 5909 Shelby Oaks Dr, Suite 129, Memphis, Tennessee 38134