Lowering your debt-to-income ratio (DTI) is a smart strategy when preparing to apply for a mortgage. Here are some effective ways to reduce your DTI: Remember, it’s important to start improving your DTI well in advance of applying for a mortgage. Lenders typically assess your financial situation based on your recent history, so implementing these […]

We have seen a whirlwind of legislative activity these past few weeks! There is much confusion surrounding the recently passed Economic Stimulus Package and higher loan limits. Unfortunately, the new law can be confusing to decipher, and not everyone will benefit. For this reason, we have provided an outline below that clarifies what this new […]

With all the old headlines screaming Credit Crisis! and Mortgage Meltdown!, what is the Federal Reserve doing about the situation? Are they doing enough? Should they be doing more??? Well… the Fed IS doing something; we just need understand WHAT they are doing. In order to understand the past credit crisis, please reference the article […]

One commonly overlooked form of “predatory lending” is when banks and mortgage companies repeatedly encourage people to take out larger mortgages and home equity loans for “debt consolidation” or to spend more by basically consuming your home equity. This often results in spreading car loans and credit card balances over 30 years with no real […]

Ocean Capital Lending’s Certified Mortgage Planning Specialist professionals are committed, qualified and equipped to help you implement cash flow strategies to better prepare for retirement, as well as help you generate tax-free income during retirement. Save for Retirement: Twenty-five percent of Americans in their peak earning years (ages 50-65) saved absolutely nothing for retirement last […]

College costs continue to rise, but a college degree remains an excellent investment. With the proper planning, most families can find a way to afford higher education. You should not try to implement a quick fix to financing a college education. This only results in straddling you or your children with the burden of unnecessary […]

Economic globalization is changing the way that business is done all over the world – especially in America. Many corporations are unable to respond to the rapid changes in the economy and business environment and they are going through one bankruptcy or restructuring after another. Are you prepared to face the financial impact of losing […]

Here are some tips and strategies that save you money when you are in the market to refinance your home loan. Don’t get caught in the trap of consuming your home equity by getting deeper into debt to go on vacation, purchase unnecessary items and spread out your car loans and credit card balances over […]

If what you always thought to be true turned out not to be true, when would you want to know? Most of what we believe about mortgages and home equity is outdated. We have been taught to make a big down payment, get a fixed rate mortgage and make extra principal payments in order to […]

Eight Credit Scoring Tips for Borrowers by Edward Jamison, Esq. 1. GET RID OF YOUR COLLECTION ACCOUNTS. Did you know that paying a collection account can actually reduce your score? Here’s why: credit scoring software reviews credit reports for each account’s date of last activity to determine the impact it will have on the overall […]