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It ’s really disgusting to see that we as a people have not found from our past and are once again starting to repeat it. I’m not trying to be derogatory just for the sake of bringing down someone’s hopes but I’m trying to save some pain for someone and hoping that someone will pay very close attention to what I am about to say.

Just in case you have missed the majority of the last couple years, PLEASE NOTE: MODIFICATION COMPANIES ARE A BAD IDEA! Please understand that I am, saying this since I have lived and worked on all 3 sides of the business. After having experienced what it’s like to be involved on both sides of the business I can truly say that there are so many potholes for the average mortgage holder that tries try to navigate the Loan Modification / Foreclosure Defense process alone.

There are so many little things that can be missed while doing it alone in matters of Foreclosure. If you miss one piece of mail After all it is your HOUSE and your family safety on the line. The CONS are endless, people impersonating Attorneys, altering numbers on HUD statements so they can pocket the difference through title. What is wrong with society today, its almost as if the whole world has gone insane? If you are a Homeowner at risk loosing your Home to foreclosure, the best advice I can give you is to think clearly and look at the situation from a calm perspective with a Loved one (someone you trust) and brainstorm for a solution or plan of action after you have taken the time to research a good attorney who has given you a professional perspective on the subject.

After having worked in the Mortgage Biz for years, I left because I saw where the industry was flowing and I really didn’t want to have to bear the burden of guilt for putting families in Loans I didn’t agree with. It always seemed that in the Mortgage business the only thing they cared about were numbers, volume of sales and Yield Spread, to be more exact it was all about everything that stuffed more money in everyones pocket.

The truth is I really feel good about what I do now because I know we are genuinely helping people and I know that our attorney is governed and held accountable by the Bar Association in our state. It’s much more comforting to work in an industry where the agency regulating your industry plays more of an active roll in protecting the public. Do your homework and THOROUGHLY investigate any firm before hiring them to save your biggest asset and the place you call “home”. Most State Bar Association Sites have a member search which can help you get a background report on who you are considering to protect your home.

Just think about it before you trust anyone other than a Licensed Attorney to protect your house. Would you give another Dime to the people that sold you your Predatory Mortgage in the first place??? Remember, statistics show that most of those same slimers transitioned from Mortgage Lending into “Home Saving”, so think about that before you let them make you a victim a second time.

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Fair Isaac has finally released their anticipated FICO 08 score model. This new credit scoring formula has many differences from the previous FICO model.

FICO 08 is the first major change in Fair Isaac?s underlying scoring model since the early 1980?s. Fair Isaac estimates this new scoring model will better predict risk of default by 5-15% over prior models.

Many experts estimate it could actually improve the current risk model by upwards of 50%. FICO 08 was pushed to be released in 2009 in response to changing economical conditions.

FICO is used by most large banks and financial institutions so understanding the new changes are crucial. Many lenders will quickly be integrating this new scoring model into their lending decisions.

Many of the basic principles of FICO will remain the same. The score range of 300-850 will continue with the new model.

One of the best changes is that collection accounts with initial collection balances less than $100 will NO LONGER have any impact on the credit score.

Very small collections such as small medical bills will no longer have an affect on the credit score if the initial balance on the account was less than $100 at the onset of the account on the credit report.

The new model will also be more forgiving on consumers who are late in one area, but not late in other areas on their credit. So if a consumer is occasionally late on a credit card account, the score change will be less than if that consumer was consistently late on all their payments.

The score impact of an authorized user account will also change with FICO 08. There will be no more credit points given for ?piggybacking?. This is when a customer with credit problems is added as an authorized user to an account of someone with good credit to boost their scores.

With FICO 08 their will only be a score improvement for authorized user accounts for the consumer?s immediate family.

If the consumer has too few accounts, completely closed accounts, or has inactive accounts, the damage to the score will be more than other FICO models.

FICO 08 now contains more scorecards with between 12- 16 estimated. This is versus the 10 prior scorecards that existed with older FICO model. These scorecards are secret mathematical models that are used to assign a credit score.

Each scorecard is specific to an industry. For example the Auto Industry Option Scoring Model uses its own scorecard and weighs past auto history heavier than all other accounts while computing a credit score.

FICO will be a big upgrade for Fair Isaac. Most lenders and all three major credit bureaus are quick to implement this new scoring model due to its increased ability to accurately predict risk.

For more questions on credit scoring and enforcing consumer credit rights visit www.PerfectCreditFast.com.

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While the rest of the economy is in shambles, and record numbers of foreclosures make headlines, real estate investors are earning thousands of dollars by buying and selling homes. How is it possible? It seems that real estate investors know a thing or two about systems, strategies, and styles of investing that the average homeowner does not. If you are a budding real estate investor and you’re looking to invest in homes but don’t know how, here are some of the basic strategies that investors are using.

WHOLESALING: This is where you buy a home inexpensively and then sell it to another real estate investor. You might not make as much as if you fixed up the home and sold it to a consumer but you can flip houses quickly this way.

REHABBING: This is the well-known (and well-televised) strategy of buying an inexpensive home and fixing it up to resell it to someone else. There is some time and money involved in the restoration process but you can dramatically increase the value of your investment. For more information go to: www.investingwiththestars.net/robertshemin.htm

LANDLORDING: A well-known strategy to buy property and then rent it out to someone else. Although there are headaches with this strategy, you get an ongoing stream of monthly income as well as the appreciated value of the property over the years. For more information go to www.investingwiththestars.net/mikebutler.htm

There are other types of real estate investing but these are among the most popular and lucrative and investors are making thousands on these methods right now. Be open to using these creative techniques especially with the situation we have with the banks today, these options give us all another way to “keep going” and investing while the market is now the ultimate time to buy at these low, low prices. For more information go to: www.investingwiththestars.net/season3. Nancy Geils is a Coach and Trainer in Real Estate Investing

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