The Number One Credit Myth

It is very important to have some knowledge about credit since it can be so essential to our life. The truth is that most folks know very little about credit

The number one myth is that people believe that checking your own credit affects your credit score. The only inquiry that affect your score are those performed by lenders.

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Tips for Spring Buying

Pamela Strassner

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Tips for Spring Buying – Spring means the return of more than just the sun and the flowers-it’s also the high season for the real estate market. It’s a great season to buy a home, since the weather is good for moving and for home improvement projects. However, since spring is the busiest time to purchase a new home that means that there is a great deal of competition among prospective home buyers. It’s important to be prepared for purchase before you begin your search for a new home. Below are a few tips to get ready for the buying process. Happy buying!

  • Set your budget. Your first step should be to decide how much you can afford to spend on a new home. Besides your asking price, also take closing costs, montly mortgage payments, a down payment, moving and other expenses into consideration. The Mortgage Bankers Association recommends…

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Tips To Help You Through The Home Buying Process

nrasproperty22

Keeping an open mind when purchasing real estate is always good advice. There is also lots of other great advice and suggestions to follow that will keep you ahead of the pack when it comes to your real estate purchases, either now or in the future. Keep reading if you want to keep learning.

If you don’t want to regret your new home purchase, you should pay careful attention to the neighborhood where the home is located. Check the immediate area and see if there are a large number of homes for sale. Check for closed businesses, closed schools or a large number of available rentals. Any of these things could point to a decline in the neighborhood.

Prior to making any offer on a property, be sure to hire an inspector to look over every part of the home. Nothing is quite as disheartening as moving into a home…

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This Will Change the Way You Use Your Visa Card Forever

TIME

This is one of those tech advances that are simultaneously cool and disturbing. Visa is adding a feature to the smartphone apps of member banks that lets banks know when a customer is traveling.

Convenient! This way, your card won’t be automatically declined just because you happen to be 50 miles or more away from home—a situation that can trigger an alert to a bank’s fraud department. Your bank, thanks to your phone’s location feature, will already know exactly where you are. Scary! Well, maybe.

It’s hard to decide. Fewer hassles are always good, of course. Nobody wants to be that poor sap standing hapless and red-faced at the checkout counter with a declined card. But do we really want our banks tracking our movements? (The financial crisis gave Americans plenty of reasons to think twice.)

Thankfully, the feature, Visa Mobile Location Confirmation, coming in April, will be entirely opt-in…

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4 Simple Strategies to Shave Years Off Your Mortgage

Just because you’ve got a 30-year loan doesn’t mean you have to spend 30 years paying it off. These tips can help you reach the finish line up to 10 years early.

Source: jayneandd via Flickr Creative Commons Source: jayneandd via Flickr Creative Commons

No one wants to spend longer making mortgage payments than they have to. The obvious way to pay off a mortgage faster is to get a shorter-term loan, like a 15-year instead of a 30-year. But on a $300,000 home purchase with 10 percent down, you’ll pay about $620 more per month on a 15-year loan than on a 30-year loan (including mortgage insurance), which might be too expensive for you.

So how do you fix your budget with a loan you can afford, yet still pay it off early if you have extra money? Here’s a look at four common approaches.

1. Refinance, then reinvest savings

It’s always prudent to evaluate refinancing when…

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Buying To Do List For Millennials

Property Management Services in Seattle

Young-HomeownersMillennials (aka Generation Y) are now at a point in their lives that they are possibly making the choice to purchase a home. Although we have discussed in the past how renting is still a great option, many Millennials might be ready to make the step into investing in property. If this is your situation there are a number of guidelines to consider before buying. This article from the Huffington Post highlights 6 things that Millennials should do before buying. The number one thing on this list is – get approved. Unless you are planning to pay cash, most likely you are going to need a loan and before you start looking at homes and get your heart set on the perfect house, it is important to make sure you know how much you can afford. The other To Do’s on the list include finding a real…

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Mortgage Loan Rates Rise for 2nd Straight Week

24/7 Wall St.

House for SaleThe Mortgage Bankers Association (MBA) released its report on mortgage applications Wednesday morning. It noted a week-over-week decrease of 13.2% in the group’s seasonally adjusted composite index for the week ending February 13, following a drop of 9% for the week ending February 6. Mortgage loan rates increased on all five types of loans for the second consecutive week.

On an unadjusted basis, the composite index decreased by 12% week-over-week. The seasonally adjusted purchase index decreased 7% compared to the week ended February 6. The unadjusted purchase index fell by 2% for the week and remains 1% higher year-over-year.

Adjustable rate mortgage loans accounted for 5.3% of all applications, down from 5.7% in the prior week.

The MBA’s refinance index decreased 16% week-over-week, and the percentage of all new applications that were seeking refinancing declined from 69% in the prior week to 66%.

The FHA share of all applications rose…

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Addicted To Debt: Q3 Fed Report Reveals Consumer Debt Rose To $11.83 TRILLION (Student And Auto Loans Faster Growing Debt)

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