Comments on: Getting a Grip on Credit

By: Rob Lawrence

Rob Lawrence — Mon, 07 Apr 2008 14:09:03 +0000

Thank you for this. I think it is high time somebody looked closely at the real estate and mortgage industry. With an economic recession looming and buyers and borrowers in a tizzy, the industry will have to learn to adapt. It's about time that the big wigs in the industry wake up and take notice.
Warm Regards,
Rob Lawrence
http://www.battlecall.com

By: GEGOUT

GEGOUT — Mon, 07 Apr 2008 11:22:23 +0000

I thought you were out?? leaving the industry?

By: Frank

Frank — Mon, 07 Apr 2008 09:38:36 +0000

IMO, the rules for home loans should be fairly strict.

760 minimum FICO for 10% down
740 minimum FICO for 20% down
720 minimum FICO for 30% down.

I/D ratio should not exceed 30% for total debt load including new mortgage.