Credit Tips

Payment History Tips

Delinquent payments and collections can have a major negative impact on your FICO score.
If you have missed payments, get current and stay current.
The longer you pay your bills on time, the better your credit score.
Be aware that paying off a collection account will not remove it from your credit report.
It will stay on your report for seven years.
If you are having trouble making ends meet, contact your creditors or see a legitimate credit counselor.
This won't improve your credit score immediately, but if you can begin to manage your credit and pay on time, your score will get better over time.

Amounts Owed Tips

Keep balances low on credit cards and other revolving credit.
High outstanding debt can affect a credit score.
Pay off debt rather than moving it around.
The most effective way to improve your credit score in this area is by paying down your revolving credit. In fact, owing the same amount but having fewer open accounts may lower your score.
Don't close unused credit cards as a short-term strategy to raise your score.
Don't open a number of new credit cards that you don't need, just to increase your available credit.
This approach could backfire and actually lower your credit score.

Length of Credit History Tips

If you have been managing credit for a short time, don't open a lot of new accounts too rapidly.
New accounts will lower your average account age, which will have a larger effect on your score if you don't have a lot of other credit information. Also, rapid account buildup can look risky if you are a new credit user.

New Credit Tips

Do your rate shopping for a given loan within a focused period of time.
FICO scores distinguish between a search for a single loan and a search for many new credit lines, in part by the length of time over which inquiries occur.
Re-establish your credit history if you have had problems.
Opening new accounts responsibly and paying them off on time will raise your credit score in the long term.
Note that it's OK to request and check your own credit report.
This won't affect your score, as long as you order your credit report directly from the credit reporting agency or through an organization authorized to provide credit reports to consumer

Buyers/Seller advice

Buyers tips/advice on purchasing your new home

1-What is a foreclosure ?

When a borrower misses a significant number of mortgage payments (which is known as default), the lender may chose to foreclose the home repossessing or selling it. Mortgage lenders usually consider a mortgage to be in default when payments haven't been made in three months. This is a great option to purchase and banks are giving reductions in cost to liquidate these homes.

2-What is a shortsale ?
A short sale is when the lender will accept less than the full amount due on a mortgage when a property is sold. Usually, the lender will accept the short sale to avoid the time and expense of a foreclosure. These are also a good option , but may take a little longer to close.

3-Check your credit and get pre-qualified, if you dont have a lender we can provide a qualified professional for you.

4-When buying your home ask your realtor about the neighborhood and the school system in the area you are moving into or malls acccess to easy shopping if you have children.

5-Check your property taxes for that area and previous year.

6-Get adequate homeowners insurance for your home.

7-Get a qualified home inspector, this can save you thousands of dollars and years of heartache.

8-Talk to agent and ask questions, dont be afraid, he or she is working for your best interest and is taking care of you.

9-Review your mortgage plan and make sure you get a rate and program thats affordable and makes sense, dont buy more than you can handle.

10-Do a final walk through on your home, recheck paperwork, loans, disclosures , addendums, so forth before signing at the settlement table.

Sellers tips/advice


1-Find out the fair market value of your home. A home's fair market value is determined by comparing houses in your area that have sold recently. This information is obtained from public records and MLS sales data. Don't over price your home from the beginning, there are alot of choices on the market of foreclosures, shortsales and in most cases , your home will be overlooked. Have a realtor do a cma on your home and determine market value.

2-Preparing To Sell-A thorough whole-house cleaning really helps your home be more attractive to a buyer. A buyer will walk through your home and make assumptions about how well you have maintained the home, often based on how clean the home is.

3-Repair Broken or Malfunctioning items

4-Remove personal property to make the room look larger, this is called home staging and is well worth the time and investment.

5-Repaint to improve homes outer or inner image, also worth its wiegth in gold.

I hope these tips are helpfull when it comes to buying or selling you current property.

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