Assistance Program

Perhaps you are on the market for your first house. Some well intentioned friend over a couple of beers might have mentioned how mortgages are like auto loans, just, like, bigger man. Unfortunately for you and your friend, it is not that simple. Buying a Nissan Altima is really nothing like buying a home other than the exchange of money. Mortgages tend to require much more paperwork, and are in fact much bigger than car loans, leading to even closer scrutiny of your credit history.

Credit Reports

When a lender is deciding whether or not to approve you for a loan, he usually starts with an analysis of your credit. For an auto loan, lenders usually look at just one of your credit reports (the major credit bureaus being Experian, Equifax, and TransUnion) to determine whether or not to approve the loan. When approving a mortgage, lenders will analyze every detail of all three credit reports. They do this in order to try to find any discrepancies in your credit history that might indicate you defaulting on your mortgage loan.

By that same token, any discrepancies that do show up hurt a lot more when looking for a mortgage than for an auto loan. Things like bankruptcies and foreclosures will stay on your credit history for at least 7 years. Lenders are unlikely to loan out money to anyone with such major credit issues, especially for a loan as large as a mortgage. Auto loans lenders still care about your credit history, but are less likely to deny you a loan for issues in your credit.

Risk Tolerance

The amount of cars manufactured and sold every year vastly outweighs the amount of houses built and sold every year. Because of that aspect, the auto industry is much more willing to take risks on people with poor credit history, because the their total sum of sales will be high. The housing industry faces a greater risk of lending money to people who can’t pay it back because the industry isn’t propped … Read the rest...

Mortgage Documents

Protect your mortgage documents by digitizing and let Norton Antivirus safeguard them.

Keep all your mortgage documents organized an archive them in an electronic version.Consider digitizing documents to keep them safe and easy to find them when you need them.

Mortgage DocumentsGo digital..All you need is a scanner to create a digital version of your mortgage paperwork. Today scanners have the ability to read through your documents. This makes it easy to just  copy and paste text to a word document. Make sure your document folder in a format you can remember. Now you can access these documents from anywhere without  issues.

Digitize all important documents

Consider making an archive folder  of your  current assets. This will help you have proof of ownership in case of natural disaster. You can take pictures or videos of these items. Don’t forget to include other properties and be very detailed on major assets like your home. The description should answer the way you made the purchase, the current value and your best estimate for cost to replace. Try not to make this video into a movie and be as natural as possible.

Save your archive

Keep these images and videos safe and save to your desktop or laptop. Burn copies to a CD and place in a safe box and give to a trusted family member. If you only have images, save them online, copy to a CD and store in a safe box.

Update files as needed

Be aware that your assets change from year to year, so it is a good idea to update your archive. Though only do so if your assets change dramatically. Keep yourself protected by archiving.


Now that you have digitized version of your mortgage documents it’s time to keep them organized. You can burn to a CD or keep  in a personal document management software application. The later will give you the ability to organize and sort to your preference. Here you can also add notes and save in many formats or email and share with … Read the rest...