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Understanding Your Credit Score

By |2018-09-25T10:00:21+00:00September 21st, 2018|Credit|

We’ll be honest: there’s nothing exceptionally enthralling about a credit score. People share them over cocktails (usually if they’re worth bragging about), they come into play when acquiring financing, buying a new automobile or home, setting interest rates, credit limits, etc.; beyond that, credit scores are usually on the backburner of our minds. Furthermore, if you have yet to make any big purchases in your life you probably have no idea what your credit score is – never mind understanding it. Even so, a credit score – ranging between 300 – 900 – deserves your [...]

Minimizing Bad Credit with a Short Sale

By |2018-08-16T15:21:42+00:00August 21st, 2018|Credit|

You thought you would live in your home forever, yet life has other plans and you unfortunately have to move. Most of us probably know someone in this situation – and it’s never painless. For one reason or another, selling a home can be downright stressful; selling a home because you’re drowning in debt adds an even more stressful dynamic. What can you do? Is it possible to sell your home as soon as possible while avoiding a less-than-stellar credit report? It turns out there are certain best practices you can do to make the [...]

Racing the Clock: Sell Your Home Before Foreclosure Proceedings Begin

By |2018-08-16T15:23:34+00:00August 16th, 2018|Credit|

One of the most powerless feelings is realizing that you may lose your home due to lapsed mortgage payments, yet it’s impossible to catch up. Let’s get one thing out of the way: there’s no shame in this! Life happens. Financial burdens hit hard. It doesn’t mean you’re powerless to get out of this situation with a semi-winning hand, though. If you are going to lose your home, you might as well benefit as much as possible. In a race against the clock, you need to know the best practices for selling your home before [...]

Mortgages for Small Business Owners and Entrepreneurs

By |2018-03-02T14:34:17+00:00March 2nd, 2018|Credit, Mortgage Agent|

Recently, I was asked to give a presentation on mortgages for small business owners and entrepreneurs. I also thought it would make an excellent blog. For both a personal mortgage or a commercial mortgage: You are going to need to keep your credit in excellent shape to get a decent mortgage both interest rate wise and terms.  You actually have to claim income. Lenders will look at line 150 of your last two tax assessments. Your financial statements and balance sheets will be reviewed by a lender. These should be up to date and current.  [...]

Why do I need a down payment?

By |2018-02-17T09:06:38+00:00February 17th, 2018|Credit, Mortgage Types|

Can't I get a mortgage that will cover 100% of the cost? Sigh! I cannot tell you how often I hear these questions when I speak to a prospective client. The short answer is YES. You do need a down payment. Recently, the Office of the Superintendent of Financial Institutions changed the mortgage rules for both conventional and nonconventional mortgage borrowers; now, borrowers have to qualify using a minimum rate. A nonconventional mortgage is a mortgage in which your down payment is less than 20%, and a conventional mortgage entails paying 20% or more. You [...]

7 Ways to Improve Your Credit Score

By |2018-02-09T13:11:05+00:00January 21st, 2018|Credit, Mortgage Agent|

Having a low credit score may make you feel hopeless about your financial future, but don't give up now. There are ways you can start to improve your credit score now. While it may seem challenging to raise your score to the standards that lenders of mortgages and auto loans will require, it is definitely possible and simpler than you think. Here are  the seven ways you can improve your credit score and achieve your dreams of financial freedom. Pay attention to credit card balances Schedule a morning, afternoon or time on the weekend to [...]

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