Realtor Tina
RealtorForum Replies Created
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Here is BiBu a pet monkey 🐒 🙈 🙊 that has cataracts
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Layoffs is happening folks. Major layoffs are hitting large U.S. cities first. The economy is in serious trouble. The Federal government is laying off tens of thousands of workers. There’s tens of thousands more layoffs in both government agencies and the private sectors. Half the mortgage loan originators in the nation have quit the business. Half the real estate agents in the United States are out of business. This is a developing story.
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Great topic. Many are still calling Agenda 21 a conspiracy theory, which it is NOT
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The Florida housing market is showing all the warning signs of 2008 – but this time it’s worse. The entire state of Florida has been depressed in the past few years. With devastating hurricanes, skyrocketing homeowners Insurance, escalating property taxes, and out of control homeowners association premiums, median home prices throughout the state of Florida is plummeting like never before. Many senior citizens can no longer afford to live in Florida with their fixed incomes. Watch the attached video clip.
We’ve analyzed data from Zillow, Realtor.com, and local MLS systems to identify 12 Florida cities already transforming into ghost towns.
In this video:
✓ The 12 most vulnerable Florida markets
✓ Why insurance costs are forcing mass exodus
✓ How HOA fees are crushing home values
✓ Where prices could drop 30-40%
✓ Critical data for investors and homeownersFeaturing shocking market data on inventory levels, price reductions, insurance costs, and foreclosure rates in cities like Fort Lauderdale, Tampa, Cape Coral, and more.
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Acquiring a mortgage loan originator (MLO) license can be quite a hassle when you have a bad credit history. Here’s an analysis of the issues regarding MLO licensing and bad credit.
Licensing requirements for NMLS
According to the Nationwide Multistate Licensing System (NMLS), all applicants requiring a mortgage loan originator license must provide pertinent background check information, including credit history. US states are authorized to expand their regulations further and define ‘financial responsibility.’
Influence of Bad Credit
Negative Marks:
- Late payments, collections, and other derogatory information can label an individual as financially irresponsible, ultimately denying them a license.
- Such information is critical and sensitive, as it could lead to the closure of the business if a license is not obtained.
State Regulations:
- As mentioned above, every state has different criteria.
- A few states might have provisions allowing certain exceptions.
- Or have a system of appeal based on the applicant’s credit history.
Considerations and Exceptions
Mitigating Circumstances:
- If you’ve gone through a divorce, have suffered from medical issues, or have lost your job.
- All these factors can lead you to develop credit issues.
- Some states may consider the nature of your circumstances alongside credit issues.
- If you have, due to the context of your credit issues, certain documents that could provide context to your credit issues.
- Then, it could strengthen your case.
Time Frame:
- Some people have an excessive amount of debt due to a divorce, medical needs, and/or loss of employment.
- If those invoices are of your credit issues arose, some regulators will consider the time and financial behavior you displayed after the abuse.
Rehabilitation Efforts:
- For the application to be approved, aggressive effort must be shown when settling debts or consistently paying one’s dues.
Steps to Take
Review State Requirements:
- Each state has licensing requirements for mortgage-originating operations firms, which must be considered when evaluating.
Seek Counsel of Compliance Experts:
- It also helps to seek the help of experts who understand the maze of the mortgage licensing process and its rules and regulations.
Start by taking care of the documents:
- As stated earlier, you must fully explain all financial situations and any credit blemishes.
- People with bad credit face difficulties obtaining a mortgage loan originator license.
- However, in no way does that disqualify them clinically.
- This depends on the set of rules of the state in question, what kind of credit history problems pre-exist, and what efforts are made to mitigate them.
Thus, as much information as possible should be collected from state agencies and then experts who understand and guide the business through its licensing process.
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Which indicators are most important for predicting short-term market shifts?
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What specific economic indicators should I track to better understand the market?
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I have watched mortgage and real estate news, YouTube videos, and podcasts. There seem to be a lot of videos about the housing market tanking and losing 50% of its value. Many are saying foreclosure rates are at historic highs. Others say many condominium complexes are going bankrupt, especially in Florida, due to high mortgage rates, property taxes, homeowners insurance, and homeowners association fees. What merit do these stories have, if any, or are they these YouTubers with clickbait to increase their viewership so they can capitalize and monetize on subscribers and views?
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This reply was modified 5 months, 2 weeks ago by
Gustan Cho.
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This reply was modified 5 months, 2 weeks ago by
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Credit utilization is one of the components that can be detrimental to your overall credit score if you know how to balance your credit.
How To Manage Credit Utilization To Increase Your Credit Score
Definition: Credit utilization rate is the percentage of your total credit limits currently being used. This shows the usage of available credit resources.
Impact on Credit Score
High Utilization:
- A high credit utilization ratio of over 40% can permanently damage your credit score.
- Lenders will perceive you as someone who depends on borrowed funds, which indicates that you have borrowing issues.
Low Utilization:
- Maintaining a low utilization ratio of below 32% and beyond is required to show lenders you are responsible when using credit since you do not reach the limit of your credit cards.
Credit Scoring Models
All credit referencing models, such as VantageScore and FICO, regard the usage level as a key metric; roughly 30% of your overall score is based on such factors.
Step-by-Step Guide on Calculating Your Optimal Credit Card Utilization
Add the total limits across all cards you own to acquire the total counting.
Consider the following:
- If you own three credit cards with limits of $5,000, $3,000, and $2,000, then your total credit limit on all cards would be
$5,000 + $3,000 + $2,000 = $10,000
Calculate Your Current Balances
Take the total current balances on the cards.
- Example: Your current balances are $1,000, $500, and $200, then the total balance becomes:
- $1,000 + $500 + $200 = $1,700
Credit leased Calculated That:
The total balance is owned by dividing the credit limit by the total balance and multiplying it by 100 percent.
Formula:
- Credit Utilization=(Total Balance divided by the Total Credit Limit)×100
- Credit Utilization=( Total Credit Limit divided by Total divided by Total Credit Limit)×100
Consider the example:
- Credit Utilization=(1,700 divided by 10,000)×100=17%
A credit utilization ratio of up to 30 % is the maximum allowable ratio—a gentle reminder: For most people, maintaining a credit limit of 60 percent will be sufficient. Watching your balances and limits regularly, Corrective measures can be taken to set a range, usually under 30%.