I've talked a lot about credit scores and this won't be my last post. Why? Because it can be a deal breaker for your loan and I want you to get that home of your dreams! No one wants those surprises!
So, you got your credit score and it wasn't what you expected and you want it to improve, but where to begin:
1. Get a credit card....if you don't already have one. If you can't qualify for a card, talk to your bank about a secured credit card. Additionally, you want one that reports to all three major credit bureaus.
2. Installment loans...what are these? personal loans, auto, mortgage and student loans. Big improvements come to your credit when you pay these ON TIME. A small personal loan through your bank could pay off! Again, be sure they report to all three major credit bureaus.
3. Pay down those cards....pay off or down those credit cards. This has a greater impact on your credit score than paying off your car loan. When a creditor is looking at your debt, they like to see a big gap in the amount of credit you have available and what you are using. In other words, don't max out all of your credit cards. Getting your balance below 30% is good, 10% is AWESOME!!
4. Go easy on the use of your cards......even if you pay them off, don't max them out. Your credit card reports your balance to the credit bureaus; this can hurt your score if you get your balance high, monthly.
5. Check your limits....what is your limit? Check with your bank and make sure that is what they are reporting. If they have not updated it recently and they actually gave you a larger spending limit, say $5000, and you use $2500 a month and they are reporting that your limit is $3000, then it appears you are nearly maxing out your card monthly. It will pay off to check on this.
6. Old credit cards....use them. Creditors will sometimes close old/unused cards. The longer you've had an account, the better, so don't let it go dormant.
7. Doesn't hurt to ask....if you have a late payment on your account, try writing them a letter to see if they would be willing to drop it from your account, refer to it as a "goodwill adjustment". They don't always do this, but it doesn't hurt to ask.
8. Dispute, dispute, dispute....if you have some old collections on your account that you were disputing a long time ago, go to your creditor and dispute the charges. Sometimes companies have merged and there aren't clear records, so a credit bureau is willing to take it off of your record. Again, it is worth the time and effort to ask.
9. Things worth your effort:
a. late payments, charge-offs, collections & other negative items that aren't yours.
b. credit limits that aren't reported accurately
c. accounts that are listed as "settled", "paid derogatory", "paid charge-off" or any other comment than current or paid as agreed if you did pay it in full and on time.
d. Bankruptcy: if you have accounts that should be included in a bankruptcy still listed on your credit, this needs to be cleared and adjusted.
e. Seven years is the magic number....make sure nothing older than seven years is on your report. It should automatically drop off, but it is always good to check.
For more information, please visit: https://www.pinterest.com/pin/183873597264363962/
Friday, December 4, 2015
Thursday, December 3, 2015
Tis the season to be away from home..
.....don't let would-be thieves get the best of you and your home! We are in the holiday season and that means traveling over the hill and through the woods to Grandma's, Aunt Edna's and Uncle Fred's.Be sure to take a few necessary steps to protect your home.
1. Neighbors: be sure to let your neighbors know when you will and won't be home. Write it down and give them your itinerary. So, if someone has a van pulled up to your home when you are away, your neighbors know this is NOT supposed to be happening.
2. Post office: if you will be gone for more than a few days, go by the post office and let them know to hold your mail. This usually means filling out a little card with the specifics. No big deal, but keeps your mail from piling up. This holds true for your newspapers, too.
3. Gifts: be sure that your a thief can't look through your windows or doors and see what is under the tree. The same holds true for large boxes next to your trash can. Not so nice people scope these things out while driving around neighborhoods. Don't fall victim to it!
4. Before you leave, double check all doors and windows. If you have sliding doors, put a dowel rod in the track so that it can't be opened. Remove all spare keys from outside.
5. Install a security system: they are worth the monthly fee and they truly give you a sense of security. Studies show that just the sign in the yard deters thieves.
May your holidays be bright and safe. A few moments of precautions go a long way!
Many blessings my friends.
Wednesday, December 2, 2015
How to select a realtor?
Purchasing a home can be a daunting task. It quite possibly is the biggest financial decision you will make. How do your choose a realtor? Believe it or not, some people don't put much thought into who they will use. Some people choose their realtor because their mom plays Bunco with this lady. Or, my neighbor's, best friend's, girl friend's step-uncle is a realtor, use him!
Obviously, we would LOVE for you to use us! But before you do, ask some questions. We would love to meet with you and discuss these questions.
1. Referrals: who have you worked with? Did the process go well? Would you work with them again?
2. Interview: meet with a 2-3 different realtors. Get a feel of their personalities and see if you will work well with them. Again, this is a big investment and you MUST feel comfortable with the person. Does the person work full time in the real estate market or part time?
3. Work schedule: some realtors go in late and go home early. Successful realtors don't do this. Successful realtors work all the time and are constantly on the lookout for properties for their clients, answering calls and emails. How often do you want to hear from your realtor?
4. Agreement: you will need to sign an agreement between you and the realtor. This protects all parties involved. If for some reason you decide he or she isn't the right realtor for you, all you need to do is tell them you would like to cancel the agreement. No biggie, not all relationships work.
5. Financing: your realtor isn't a loan officer. Many realtors have loan officers they are familiar with and work with on a consistent basis. They can make recommendations for you. But remember, they can't give you financial advice.
6. Home inspection: your realtor should be able to give you a list of home inspectors to choose from. We are not licensed home inspectors, so please be sure to hire an independent, 3rd party to inspect your purchase.
7. Emotions: when selling your home, try to let go of the emotions. Yes, you raised your children in this home, it was your first home or an array of other emotional things happened here. But the soon to be buyers aren't aware of all of this and don't need to be aware of it. If someone tours your home and comes back with some negative remarks, look for the constructive criticism in it and see how you can use the information to improve your home for the next showing. Lastly, don't shoot the messenger, your realtor. He/she is doing their job when they share the comments with you. Appreciate their honesty.
8. Communication: when interviewing your realtor, you need to find one that communicates in the same manner you do. Do you text, email or call? What does your realtor do? Make sure they are compatible. This also means when looking at home, be as specific as possible for what you are looking for and what you do and don't like about homes he/she sends to you for review. Your realtor can't read your mind.
9. Make a friend: when looking for homes and selling your property, you will spend a lot of time with your realtor. Make sure you LIKE them. If you don't communicate well with them, don't hire them. If they aren't listening to your wants and needs? Why did you choose them? You want to work with someone that you feel comfortable with and has your best interest first and foremost.
Obviously, we would LOVE for you to use us! But before you do, ask some questions. We would love to meet with you and discuss these questions.
1. Referrals: who have you worked with? Did the process go well? Would you work with them again?
2. Interview: meet with a 2-3 different realtors. Get a feel of their personalities and see if you will work well with them. Again, this is a big investment and you MUST feel comfortable with the person. Does the person work full time in the real estate market or part time?
3. Work schedule: some realtors go in late and go home early. Successful realtors don't do this. Successful realtors work all the time and are constantly on the lookout for properties for their clients, answering calls and emails. How often do you want to hear from your realtor?
4. Agreement: you will need to sign an agreement between you and the realtor. This protects all parties involved. If for some reason you decide he or she isn't the right realtor for you, all you need to do is tell them you would like to cancel the agreement. No biggie, not all relationships work.
5. Financing: your realtor isn't a loan officer. Many realtors have loan officers they are familiar with and work with on a consistent basis. They can make recommendations for you. But remember, they can't give you financial advice.
6. Home inspection: your realtor should be able to give you a list of home inspectors to choose from. We are not licensed home inspectors, so please be sure to hire an independent, 3rd party to inspect your purchase.
7. Emotions: when selling your home, try to let go of the emotions. Yes, you raised your children in this home, it was your first home or an array of other emotional things happened here. But the soon to be buyers aren't aware of all of this and don't need to be aware of it. If someone tours your home and comes back with some negative remarks, look for the constructive criticism in it and see how you can use the information to improve your home for the next showing. Lastly, don't shoot the messenger, your realtor. He/she is doing their job when they share the comments with you. Appreciate their honesty.
8. Communication: when interviewing your realtor, you need to find one that communicates in the same manner you do. Do you text, email or call? What does your realtor do? Make sure they are compatible. This also means when looking at home, be as specific as possible for what you are looking for and what you do and don't like about homes he/she sends to you for review. Your realtor can't read your mind.
9. Make a friend: when looking for homes and selling your property, you will spend a lot of time with your realtor. Make sure you LIKE them. If you don't communicate well with them, don't hire them. If they aren't listening to your wants and needs? Why did you choose them? You want to work with someone that you feel comfortable with and has your best interest first and foremost.
Tuesday, December 1, 2015
Winterize your home...YES, even in South Texas
Winter is here, sort of, and it is a good time to go over a few things you can do around your house that will help get you and your wallet through the winter.
1. Stop those drafts: walk around your home and check your windows and doors for drafts. If you have some drafts, you can go super inexpensive and roll a bath towel and put it against the bottom of the frame. You can also make your own or purchase them. Whatever you choose, do something because not only will insects and rodents want to come into your warm home, but you will be losing money out those drafty spaces, too.
2. Ceiling fans: you already cleaned all of them, right? Before you put that ladder away after you've decorated the Christmas tree, take a moment to switch all of your blades to run clockwise (that's what the little switch on the side is for.) This will push that warm air down and help keep you nice and toasty.
3. Programmable Thermostat: super easy to install and will save you money; studies say the average savings is $180/year. I checked a local big box hardware store and they run from $20 - $250; so it is up to you how much you'd like to spend. We spent less than $100 on ours and I love it. It automatically turns up in the mornings and turns down in the late afternoon (or heats according to the season). When we leave on trips, I can set it to hold on a constant temperature so the unit doesn't run when we are away.
4. Smoke detectors: be sure to change out the batteries of your smoke detectors. One recommendation is to do this with the time change. If you didn't do this with the fall time change, take the time to do it now. You and your family's safety should always come first.
5. Gutters: clean them out. Before you hang up those Christmas lights, take the time to clean out the gutters. Leaves and acorns can clog them up and cause damage to your gutters and your home.
6. Winterize your air conditioner: at this time of the year, in South Texas, this can be a little more of a challenge because we were using our A/C just last week because the humidity was so high! If you are in an area that sees more freezing temperatures, be sure to drain pipes/hoses that come into the unit and check the drain pan for water. A cover for your unit is recommended, too. These run about $25.
7. Air conditioner filters: be honest, when is the last time you changed them? During the summer months, every month is recommended. When your unit isn't used as frequently, every 3 months is good. While you are up there, get the vacuum cleaner out and clean all the dust hanging out on the cover.
Enjoy the season.
1. Stop those drafts: walk around your home and check your windows and doors for drafts. If you have some drafts, you can go super inexpensive and roll a bath towel and put it against the bottom of the frame. You can also make your own or purchase them. Whatever you choose, do something because not only will insects and rodents want to come into your warm home, but you will be losing money out those drafty spaces, too.
2. Ceiling fans: you already cleaned all of them, right? Before you put that ladder away after you've decorated the Christmas tree, take a moment to switch all of your blades to run clockwise (that's what the little switch on the side is for.) This will push that warm air down and help keep you nice and toasty.
3. Programmable Thermostat: super easy to install and will save you money; studies say the average savings is $180/year. I checked a local big box hardware store and they run from $20 - $250; so it is up to you how much you'd like to spend. We spent less than $100 on ours and I love it. It automatically turns up in the mornings and turns down in the late afternoon (or heats according to the season). When we leave on trips, I can set it to hold on a constant temperature so the unit doesn't run when we are away.
4. Smoke detectors: be sure to change out the batteries of your smoke detectors. One recommendation is to do this with the time change. If you didn't do this with the fall time change, take the time to do it now. You and your family's safety should always come first.
5. Gutters: clean them out. Before you hang up those Christmas lights, take the time to clean out the gutters. Leaves and acorns can clog them up and cause damage to your gutters and your home.
6. Winterize your air conditioner: at this time of the year, in South Texas, this can be a little more of a challenge because we were using our A/C just last week because the humidity was so high! If you are in an area that sees more freezing temperatures, be sure to drain pipes/hoses that come into the unit and check the drain pan for water. A cover for your unit is recommended, too. These run about $25.
7. Air conditioner filters: be honest, when is the last time you changed them? During the summer months, every month is recommended. When your unit isn't used as frequently, every 3 months is good. While you are up there, get the vacuum cleaner out and clean all the dust hanging out on the cover.
Enjoy the season.
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