Posts Tagged ‘Financing’

How to Establish Credit or Re-establish Credit

Sam Thompson with Community Southern Bank

Sam Thompson


The following is a guest blog by Sam Thompson with Community Southern Bank. The views expressed are not necessarily those of


Here are some common credit-related questions that I hear frequently:

How do I go about re-establishing my credit if I lost my home in a short sale or foreclosure?

What should I do if I filed bankruptcy several years ago to re-establish my credit and increase my credit scores?

What should I do if I was out of work for a year and have been delinquent on all of my credit-related obligations?

What should I do if I have never had any credit cards, car loans, bank loans or any kind of traditional credit?


I will answer these questions and more in this article. Let’s start by explaining one thing about the


Financing Guidelines for Most Buyers Still Stringent

Financing guidelines still stringent for most buyers

Financing guidelines still stringent for most buyers

Note: The following guest blog was written by Senior Mortgage Consultant, Sam Thompson, with Community & Southern Bank. 


For those looking to finance a home, mortgage underwriting guidelines are still tight, whether you are putting the minimum 3.5 per cent down and going FHA or have 20 per cent down for a conventional loan.  There is no question that the tighter underwriting guidelines have done a good job over the past four years of cutting down the default rates and have obviously assisted in stopping the foreclosure bleeding that was so rampant.


Having said that, it may not be pleasant for you to try to explain and document to an underwriter why you

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