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Rebuilding Your Credit Score One Piece At A Time

A credit score is mainly based on your history of managing debts, such as whether you tend to make payments on time. They play a significant role in your everyday life because the next time you apply for a loan or a credit card — or perhaps a new apartment or insurance — your scores could affect the final decision, including your costs.

For the many consumers with damaged credit scores and those with no credit record, here are some ways to improve your credit scores from the FDIC:

• Consider consulting with a reputable credit counseling service to help develop a customized plan to improve your credit score, which may include helping you decide how to prioritize your spending choices.
• Counseling services are available to help consumers budget money, pay bills and develop a plan to improve their credit histories. Bear in mind, however, that not all counselors are looking out for the consumer’s best interests.Be cautious of counseling services that advise you to stop making payments to your creditors or to make your payments to the counselors instead – so they can negotiate on your behalf with the lender.

• These programs can be costly, may result in your credit score becoming even worse, and they could be scams. For suggestions on finding a reputable counseling service, visit the Federal Trade Commission’s website ftc.gov.
    
• ·  Understand what information is most likely to influence your credit scores. In general, the most significant factor affecting your score is whether you repay debts on time, and how much you currently owe on each account compared to its original loan amount or credit limit.
   
• ·  Additional factors include how long you have had your current loans and credit cards, and the types of credit accounts you have. To obtain and review a copy of your free credit report visit www.AnnualCreditReport.com or call toll-free 1-877-322-8228.

Take Charge of Your Financial Health

Stress over financial matters can affect both your health and your family’s well-being. To ease stress, take charge of your financial health with the following tips.

Gather your documents and store them safely. Over time, you accumulate all sorts of important papers from medical histories to bills and insurance information. It’s a good idea to keep all these important documents in a safe place, such as a safety deposit box or fire-proof strong box. Here are some things you’ll want to store safely and be able to retrieve quickly:

• Insurance plan information – life, health, dental, home owners, renters, auto, boat, etc. 
• Mortgage information 
• Tax information – returns, purchase and charitable contribution receipts 
• Investment paperwork – savings, stocks, bonds and retirement records 
• Will and trust or health care directives

Keep ATM receipts for a month, and paycheck stubs, bills, credit card, bank and investment statements for a year. Hold on to tax returns, medical bills, mortgage and home records longer — up to three to seven years. 

 

Set a monthly budget. It’s important to keep track of your finances and what you’re spending money on in order to determine where you can cut back. Keep an accurate account of your finances for several months, then start trimming expenses where possible. There are excellent software packages available to help you keep your income and expenses balanced. 

Set a savings budget and stick to it. Whether it’s for your children’s college tuition, a home down payment or for retirement, it’s important to make your savings goal part of your monthly budget. Set aside a regular amount — starting as early as you can.

Keep an emergency fund. Financial emergencies can happen when you least expect them. Instead of adding to your debt through a credit card withdrawal or bank loan, keep an amount equal to six months expenses on hand. Get started by arranging a bi-weekly or monthly automatic transfer into your savings account.

Stay on top of your credit score. Good credit opens many doors — auto and home ownership, backup credit lines, even co-signing your child’s student loans can be influenced by your credit score. In addition, spotting fraudulent accounts — such as credit cards opened via identity theft — is much easier when you’re managing your credit score. Free credit report services with email alerts are available online. 

Look to life insurance to help protect your family. If the unexpected happens, you want to know your family is safe, and that includes your finances. Talk to a life insurance professional for help in selecting the coverage and life insurance provider.

Source: www.foresters.com.

 

8 Cheap and Easy Kitchen Facelifts

If there’s not enough money in the budget to remodel your kitchen, Lowe’s home designers suggest you browse the aisles of your home store for ideas and give the room a whole new look with a few cheap and easy makeover options.

1. Paint the walls – Paint covers a multitude of sins and freshens up even the dullest kitchen. If you make one change to your kitchen, paint it – and opt for a color different from the old one.
2. Transform the cabinets – Use a brush or roller to paint wooden cabinets or, if you’re a bit braver, apply new wood or vinyl veneers to change the look of laminated cabinets.
3. Switch out the hardware – Shiny new cabinet and drawer pulls can make a huge difference to your kitchen – and there are literally hundreds of styles to choose from.
4. Replace appliance hardware – Spiff up your old stove and oven with new knobs. You can also change out those pans under your stove’s burners for a cleaner look overall.
5. Get a shiny new sink – Choices include stainless steel, enamel-coated cast iron, and composites – as well as single bowl or double bowl, top mount or under mount models.
6. Change the faucet – For a fun and inexpensive modification, get a new fixture. A spray attachment can come in handy, as can a faucet with a built-in soap dispenser.
7. Alter the lighting – A blend of overhead, natural and under-cabinet lighting can make the kitchen glow. You’ll finally be able to see what you’re cooking. You might also want to add a dimmer switch to your new lighting for times when you want the room a little mellower.
8. Add some simple new décor – To give your kitchen a new look – say, farmhouse, rustic or modern – buy some framed prints to hang on the walls, and add small design touches such as glass canisters, a cookie jar you love, and/or vase or pitcher of flowers. Complete the look and color scheme with new kitchen towels and potholders.

Going Once, Going Twice…Sold! Put Together an Offer the Seller Won’t Refuse

Submitting an offer on a home and waiting to hear back is one of the most stressful parts of the home-buying process. Since there is always room to negotiate when it comes to price, you want to be sure to put in an offer that the seller can’t refuse or you risk losing your dream home to someone with a higher bid. 

While prospective homebuyers are often unaware of current trends in the real estate market, many typically rely on advice and guidance from their parents, friends and coworkers who don’t necessarily have a good pulse on the real estate market. 

That’s why educated buyers who have spoken with their agent about an acceptable offer will have a better chance of hearing “sold” when the phone rings. Not only will a good agent offer valuable information, they can also help you buy the home you want at the price you want to pay.

Real estate agents have access to statistics and trend information that others don’t, so their advice is invaluable. But when it comes to submitting an offer, it’s important to keep in mind that it’s about more than just the money. In fact, there are several things you can include in the bid to help foster a successful deal. 

When it comes to getting a bid accepted, first-time homebuyers often have a significant advantage over repeat buyers because their agent is instrumental in advising them to not only take the time to get pre-qualified, but to also be pre-approved for a mortgage before they even begin looking for a home. And since they don’t have to wait for another house to sell, their offer will be attractive to someone looking to sell a home. 

 

Another thing to keep in mind is the fact that sellers are typically attracted to “clean” bids. A clean bid is one in which the buyer doesn’t ask for any contingencies, repairs or updates to be done. In the end, sellers are happiest when they can simply collect their money and move out quietly. 

Buyers should also plan in advance to have funds available for a fast closing. Many agents will tell you that even if you’re not the highest bidder, your bid may still be accepted because you are willing to close right away.

Before making an offer, be sure to talk with your agent and decide what you’re willing to give up in order to have your bid accepted, as it could be the most important bid you ever place in your life. 

For more information on increasing your chances of having your offer selected, contact our office today.

5 Simple Tips to Combat Digital Eye Strain

According to The Vision Council, more than 70 percent of Americans don’t know about or don’t believe they are at risk for digital eye strain; however, anyone who spends time in front of a digital screen—whether it’s a computer, phone or tablet—is vulnerable. Dr. Richard Hom, optometric director for WellPoint offers the following suggestions for avoiding digital eye strain in today’s technology-driven world.

-Pay attention to how much time you spend looking at the computer screen and take a 20-second break every 20 minutes. To truly relax the focusing muscle within the eye, be sure to focus on something at least 20 feet away.

-Installing an anti-glare screen will get rid of the reflection from nearby objects that may be visible on your screen. Take this one step further by covering windows and using a computer hood to block both overhead and peripheral light.

-To ensure that you’re working in proper lighting, rearrange your office setup so that windows are off to the side of the computer screen. To diminish the brightness of the light surrounding the screen, turn off any unnecessary fluorescent lights. Incorporating halogen or incandescent bulbs into the mix is another simple way to foster the proper lighting environment.

-If you spend a lot of time looking at a computer screen, you’re most likely blinking less often, which can cause the eyes to become dry. Next time you find yourself in front of a computer for a prolonged period of time, blink 10 times by closing the eyes very slowly every 20 minutes. This will not only moisten the eyes, it will also help them refocus.

-Revise your workspace so that any printed pages you need to look at can be placed on a copy stand next to the computer monitor. This will help alleviate the stress and strain on the eyes that comes from looking back and forth between the computer screen and a printed page. Poor posture can also lead to problems when it comes to clearly seeing a digital screen. Whether you purchase ergonomic furniture—or simply pay more attention to your posture—aim to have the center of the digital screen 10-15 degrees below the eyes.

6 Real Estate Scams to Avoid

Most people, by and large, are decent and honest. But it only takes one or two cheaters, scammers, or liars to make us all skeptical. As long as there’s been land to buy and property to own, there have been scammers. The old joke about selling swampland in Florida was, in fact, a real thing that happened to people for many years.

These days, real estate scams are rare but they happen. Whether you’re a current homeowner or you’re looking to buy, here are a few to watch out for.

Cash for Nothing

One scam to watch out for is the cash deal that requires almost no paperwork. “Owners” forge documents to make the sale seem legitimate and only want cash for the property. They don’t want to work with a real estate professional or a title company. The sale is meant to be quick and cheap. 

If you’re getting a property for much less than the going rate in the neighborhood and the “seller” insists on cash, be careful. You won’t know you’ve been scammed until you try to move into a home that’s still occupied by the actual homeowners. 

Rentals on Craigslist

Fraudulent rentals on Craigslist hurt two parties, though one more than the other. The homeowner doesn’t realize their home is listed for rent and won’t understand why someone with a moving truck wants in. On the other hand, the renter has paid a big deposit that they’re never going to see again.

Some rentals on Craigslist are genuine, but some aren’t. If you’re renting, do a Google search for the property or the rental company listed. Go by the office or call the phone number listed on the website (not on Craigslist) and verify that the property is available for rent. Homeowners can Google their property address to make sure it’s not showing up as an active rental listing anywhere, as well, to help prevent fraudulent rentals and angry “tenants.” If you find your property listed, report it to the local authorities.

Home for Sale on Craigslist

The scam on Craigslist isn’t always for homes that aren’t for sale. Instead, the property you saw in the listing isn’t the one you’re looking at when you arrive at the showing. It’s less a scam and more dishonest marketing tactics. In this case, you’ll likely be told that the original property is no longer available but they “thought you’d like this one.”

This other property is likely to be more expensive, in worse condition, or much smaller than the original one. No credible, ethical real estate professional will pull this fast one on you. If a property isn’t available, they’ll tell you and work hard to find something else that’s comparable. It’s okay to refuse to see a property you weren’t asked about or that’s different than what was advertised.

Wire Fraud

Like the all-cash deal with no paperwork, the wire fraud scam works in much the same way. A “seller” doesn’t want title insurance, real estate professionals, or paperwork involved. Instead, they’ll tell you to wire the funds directly to them to close the deal quickly.

When you do, you’ll find that the home wasn’t for sale, and they weren’t the owners. You’re out the escrow payment you could have used for a legitimate home purchase with no way to get your money back. They’ll have disappeared without a trace.

Foreclosure Fraud

This was more prevalent several years ago when the housing market plummeted and homes went into foreclosure. But it can still happen today. Someone approaches you or advertises a service as a “mortgage advisor” and promises they can help you stay in your home or save your credit.

They’ll offer you a title transference or deed and put legal looking paperwork in front of you. You may even be told to pay your mortgage directly to them. Once they have the paperwork signed, they take out a loan on the property and run with the cash or rent your home to someone else. Because you’ve signed over your home, you get evicted. If you run into problems paying your mortgage, talk to your lender first.

Title Fraud

Title fraud is extremely rare but when it happens, it’s devastating. It often begins with identity theft and impacts homeowners with no mortgage. The scammer obtains fraudulent documents letting them act as the property owner. They transfer the property into their name, get a home loan against the property, and vanish with the cash.

You don’t know it’s happened until lenders demand money, your credit score crashes, or you’re being evicted from your home. The best prevention for this is title insurance and to watch your credit very closely. If you know you’re the victim of identity theft, place a fraud alert with the credit bureaus so any new credit applications are flagged. 

Scams can be rare, but when they happen, they can devastate you financially. Most scammers prey on the desperate, vulnerable, or those not paying attention. Beware of anyone who wants to run through a process without proper contracts or real estate professionals involved. When in doubt, slow down and ask questions. 

When you want to buy, work with a real estate professional to make sure you’re only looking at legitimate offers and the legal process is followed, even with a cash sale. And if someone refuses to close a deal with you because you have a Realtor®, move on to another property. If you suspect you’re the victim of a real estate scam, contact local police and report it.