First-time home buyers — and the Realtors who work with them — are getting an important new national credit-building resource: The first credit bureau focused solely on compiling credit histories using data that the three dominant national bureaus don’t track — rent, utilities, insurance and other monthly payments.
The new bureau, dubbed PRBC (PayRent, Build Credit), is headquartered in Annapolis, MD and run by a team of risk assessment professionals headed by CEO Michael Nathans. The bureau expects to compile “alternative” credit files on up to 10 million American tenants within the next 60 months.
PRBC is an effort to help low and moderate income, young, minority and immigrant consumers demonstrate creditworthiness, according to Nathans. All of these groups frequently have trouble qualifying for prime-rate mortgages and other credit because their national files tend to be “thin” — there’s not a lot of payment history data on them.
It is certainly a bad news that many leading banks tighten their grips with regards to financing some vital projects. The lending sector is now stricter to reduce the total volume of the mortgages given yearly. However you might be happy to see that there are certain sectors which have remained in good condition as no strict lending rules are actually applied here. Multifamily apartment loans are not difficult to get and you just need to visit 
Real estate is known as a risky idea to many, but commercial property loans have never seen a slump even during the economic crisis. Why are market participants still buying commercial property even during economic downturn? Mainly because they can be a guarantee for great outcomes , no matter if you are constructing a building to rent it out , buying a retail area or using it for your business , making an investment in properties still can generate short or long term source of income when the property is located in the right place . The loans vary even from standard commercial property loans.
When you received a notice of foreclosure it is advisable to find the service of a foreclosure lawyer. This can be very hard today to represent yourself in dealings with foreclosure to keep your home. Once you know that your home will be approaching for proceedings then it is advisable to stay away from any foreclosure process before receiving the notice of foreclosure.
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