IRS Notice 2012-6, to be published on January 17, 2012, extends and expands the transition relief provided under Rev. Rul. 2011-1 and Rev. Rul. 2008-40 for certain retirement plans that qualify under the Puerto Rico Internal Revenue Code and group trusts holding investments by such Puerto Rico-qualified plans. View the full text of this document
With a vast majority of the world’s markets taking an extra day to recovery from the New Year festivities, FX price action was subdued. USD was broadly offered across G10 and EM was Asian equities firmed. USDJPY continued to sell-off trading down to 76.77 from 76.97. Oil has come back into focus as Iran has issued some hawkish comment pre-European open. Reuters citing Fars News Agency has the Iran army chief threatening to take action if the US carrier returns to the Gulf. Brent had gapped on the open to 108.35 and has been climbing since. Yesterday’s lone action was triggered by better than expected Eurozone PMI manufacturing reads. This was a positive note to 2012 as Germany PMI printed above expected data, 48.4 vs. 48.1 exp, and above November’s 47.9. How Read more text…
While there are a number of factors that determine what mortgage rate you’ll qualify for, perhaps the most important is credit score.
For one, a credit score can make or break you entirely. If your score isn’t at a certain level, you may be barred from financing, regardless of your income, job, and asset situation.
Even if you are able to obtain financing, you may be limited as far as what you can get your hands on.
In other words, your loan-to-value ratio may be limited if your credit score is below average, and you may only qualify for a conforming mortgage versus a jumbo loan.
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