Shelter Six: Specialty Loan Requires Only 12 Months Since Bankruptcy

The latest data released last week showed that inflation remained well contained in May.

After ending 2018 near the Fed’s stated target level of 2%, this is the fourth straight month that inflation registered lower than expected and a huge reason rates have plummeted.

This week contains some of the most important economic reports in the monthly rotation that will go a long way to dictating which way rates move next, especially Friday’s Employment report.

President Trump agreed to halt increased tariffs on Chinese goods while talks resume.  This is potentially good economic news but an agreement could cause rates to go up.

Shelter’s SmartTrac program is perfect for Buyers who have had serious credit difficulty in the past but are seeking to become a homeowner in the near future.

The program requires 20% down, a 620 credit score, and only 12 months to have passed since a Bankruptcy or Short Sale and 24 months since a Foreclosure.

Rate Update

Last week’s economic data and news on trade negotiations caused some volatility but interest rates remain flat and still below 4%.

This Week

The ISM National Manufacturing Index will be released on Monday, the ISM National Services Index on Wednesday, and the monthly Employment Report on Friday.

July 1, 2019 by · Leave a Comment

About James

James A. Williamson is currently the Sr VP of Sales Development for Shelter Lending Services (formerly Fairfield Mortgage). James joined Shelter in 1994 and was the company's top Loan Officer in GA for 20 straight years helping over 2500 families finance their homes. James now oversees an incredible group of Loan Officers in Atlanta while further building Shelter's Atlanta business.

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