Saturday, March 29, 2008

Learning: Day 6: Credit!

At this point your have decided a market and team members. A very important team member is going to be the bank or mortage broker. Now that rates are going down, we think...BUY. Not necessarily. It is good to buy while prices are down. It's also hard to get approved. You may have difficulty getting approved because you are an investor. You must be honest that it is not owner occupied because that will be revealed through the insurance. Also, investors may be forced to put some more down. Do your shopping and know your credit score. If it's not great, hold off on buying for three months. There are many actions you can take to quickly restore your credit score. Don't wait...Take the Leap!

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