Brad Garbutt

REALTOR®, Associate Broker

Since 1983, I have helped thousands of families and individuals buy and sell homes in Redding/Shasta County. The only thing that exceeds my experience is my commitment to you because whether you're buying or selling a home, your satisfaction is my number one goal. My commitment to you includes implementing the latest real estate technology and resources to effectively market and sell your property. When you're ready to buy or sell a home and you want exceptional service, call me!

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Californians Have Best Credit Scores In Nation

HOME LOANS, INDUSTRY NEWS, SHASTA COUNTY
February 14th, 2011

Mt. ShastaA recent article in a mortgage trade journal pointed out the fact California mortgage applicants have the highest credit scores in the nation.  According to the article authored by Heather Cernoch, prospective borrowers in California have average credit scores of 755, 20 points higher than the national average. 

Hawaii came in second in the credit score ratings at 751. States in the northeast did well while the lowest credit scores were found in the Southeast region. Mississippi had the lowest average credit score at 695.

I suspect Redding/Shasta County avearge may be lower than California as a whole. The collapse in real estate prices locally in conjunction with double-digit unemployment and conversations with local lenders lead me to believe  the average here is significantly lower.

Today, many homeowners with good jobs and credit are wrestling with the idea of strategic defaults on loans for their primary homes, second homes and investment properties. A strategic default is defined as a borrower who elects to walk away from their property because the mortgage is underwater, not because of any financial hardship.

As one mortgage industry expert points out in the article, Californians have managed to weather the wave of foreclosures and precipitous price drops without serious damage to their credit ratings. Let’s hope this trend continues!

bradgreps@yahoo.com

530-224-6767 or 530-941-7492

BRAD GARBUTT

REALTOR/BROKER ASSOCIATE

REAL LIVING REAL ESTATE PROFESSIONALS

CORNER OF COURT AND PLACER IN REDDING

NEARLY 30 YEARS LOCAL REAL ESTATE SALES EXPERIENCE

This entry was posted on Monday, February 14th, 2011 at 12:07 pm and is filed under HOME LOANS, INDUSTRY NEWS, SHASTA COUNTY. You can follow any responses to this entry through the RSS 2.0 feed. You can leave a response, or trackback from your own site.

  1. Pozyczki said at June 20th, 2011 at 12:35 pm

    Excellent read, I just passed this onto a friend who was doing some research on that. And he just bought me lunch since I found it for him smile So let me rephrase that: Thanks for lunch!

  2. wycieczki last minute said at June 21st, 2011 at 2:56 pm

    Great post! Finally i have all the necessery info about it! Thank you so much! Love to hear more about it. Best regards

  3. Outlet ralph lauren said at April 19th, 2012 at 3:33 am

    You have a few useful pointers on this website.

  4. Outlet ralph lauren said at April 19th, 2012 at 3:33 am

    Excellent read, I just passed this onto a friend who was doing some research on that. And he just bought me lunch since I found it for him smile So let me rephrase that: Thanks for lunch!

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