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Just when home prices and interest rates are really starting to look attractive, Fannie Mae and Freddie Mac announced increased delivery fees and new Loan-Level Price Adjustments, making credit much more expensive for potential homebuyers and homeowners looking to refinance. These increased fees are mandatory and have nothing to do with your mortgage professional. They are simply Fannie and Freddie's way of recouping losses associated with the recent rise in delinquencies and foreclosures. Under Loan-Level Price Adjustments, additional costs are assessed to mortgages based solely on FICO credit score ranges that fall below 680. In the mortgage industry, this is called risk-based pricing, and it can really add substantial costs to a mortgage if borrowers aren't credit ready.

If you or someone you know intends to take advantage of the low home prices and the lowest mortgage interest rates in years, please call us right away. We'll get you a copy of your credit score and see what, if anything, needs to be done. Sometimes small changes to your credit profile can yield big results that could save thousands of dollars on your mortgage. Other times, professional ATTORNEY-ASSISTED credit repair may be required, and this process could take up to six months to reach the scores you need. If you'd like more information about these new fees or learn how we can help raise your credit scores an average of 127 points in 60-120 days, please call us toll free at 888-660-2555 or visit us at http://www.thecredit­xperts.com.

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