Posts Tagged ‘Mortgage Loans’

New Formula For Mortgage Loans

Friday, June 26th, 2009

Have you heard about FICO scores ? that is the score to make the lenders make decision, however this formula was not implemented for sometime because those who made this FICO scores, Fair Isaac and the 3 credit reporting agent were disagreed with the new formula that was issued in 2009. However there is another company called TransUnion tried to use this formula in the beginning of the year 2009 and the other one called Equifax follow after. Some of other companies such as Experian also follow in the next few months afterwards.

However many people were still asking the question on how effective this formula is and how useful it is for you ?

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Try Your Luck With Mortgage Loans

Friday, June 26th, 2009

Mathematic, accounting and other subject related with number and calculation was not really my favorite one. I was lucky if I could just get C for those subjects when I was still in school. Unfortunately after I have grown, I still can not avoid those numbers thing from daily life, starting from I wake up in the morning, I already have to start to calculate my expenses today. When first time I got a job and first time I receive my salary, that number was following me from day to day. Even though I am working as secretary and not necessarily related with accounting but still, I need to Calculate my boss’ expenses, calculate my boss exchange rate, calculating my daily expenses, my monthly need, my family needs, my saving, my installment, my debt and now.. my mortgage loans! Oh my God, I feel like to give up with these annoying numbers.

Some people may use calculator or Excel or special formula to work with this repayment.. Comparing the costs from some mortgages and to re-consider my affordability is the one that needs to do for calculating this mortgage loans. This calculation is also useful for calculating the personal loans, second mortgages, re-mortgages, and commercial mortgages.

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