Do You Know What Your "Good Credit" Is Costing You??

I am sure you already know that your credit score dictates the interest rates you pay on credit cards, installment loans, insurance, and mortgages. What you probably don't realize is that with the recent credit tightening, even people with 700 credit scores are being penalized!!! That's right, I said 700 scores! Fannie Mae and Freddie Mac have instituted pricing add-ons for conventional loans with credit scores below 720. This means if you have a 719 score, you will pay a little more in your interest rate. If you have a 699 score, you will pay even a little more, and if your score is 680 or lower, you are really getting hit hard!! The surprising part here is that as little as a year ago, 680 was considered a pretty good credit score- I am here to tell you the rules have changed!

Now more than ever, it is critical that you know your credit score, monitor it, and take the steps to make sure you maximize your score to ensure your "good" credit doesn't cost you more. Fortunately, I have a solution for you. I have searched out and aligned myself with two companies who offer credit repair and restoration. Both companies have a great track record and will get the job done right. One is super fast, the other a little slower. If your looking to buy a home and you need to increase your score in a hurry, we'll go with the fast company. If your just looking to get "mortgage ready" so you can buy something in a few months, we'll go with the lesser cost option. Either way, you increase your scores, get better credit, and save money because you will qualify for better interest rates!!

How do you know if your credit is costing you more?? I am offering a FREE NO-Obligation identity theft review and credit consultation. Give me a call and we will run your credit, review your accounts for accuracy, make sure there are no erroneous accounts, ensure your identity is safe, and make recommendations on steps you can take to increase your credit scores. If there is more work than I can offer help on, I will make a recommendation to you on a credit repair/ optimization company. It's all free and there is no obligation to buy anything. As a matter of fact, I suggest that you perform this service annually to be sure your on track and no one has stolen your identity. This is just one of the many free services I offer my clients.

Many times I am asked "Can I do this myself?" Sure, if you really want to, the first thing you need to do is get a copy of your credit report. You can go to www.annualcreditreport.com and request a copy of your credit reports. You should request all three; Transunion, Equifax, and Experian. This is a FREE service and they will not try to sign you up for something or ask you for a credit card! Once you receive the reports you will want to review them for accuracy and be sure you agree with all the accounts shown. If you find errors, you can mark them up, prepare request letters, and dispute the items with the credit companies. They will have 30 days in order to research and respond to your challenge and make any changes.

So there you have it. In this post I have explained that if your credit is less than 740, it is probably costing you money somewhere. I have shown you where to go to get a free credit report and how to correct any errors you find. And, finally, I have offered you a Free identity theft screening and credit consultation to find out what we can do for you to increase your scores and save you even more money. I hope you have found this information helpful and I look forward to hearing from you.

How the Affluent Create Wealth by Managing Home Equity

How the Affluent Manage Home Equity to
Safely and Conservatively Build Wealth

If you had enough money to pay off your mortgage right now, would you? Many people would. In fact, the ‘American Dream’ is to own your own home, and to own it outright, with no mortgage. If the American Dream is so wonderful, how can we explain the fact that thousands of financially successful people, who have more than enough money to pay off their mortgage, refuse to do so.

The answer? Most of what we believe about mortgages and home equity, which we learned from our parents and grandparents, is wrong. They taught us to make a big down payment, get a fixed rate mortgage, and make extra principle payments in order to pay off your loan as early as you can. Mortgages, they said, are a necessary evil at best.

The problem with this rationale is it has become outdated. The rules of money have changed. Unlike our grandparents, we will no longer have the same job for 30 years. In many cases people will switch careers five or six times. Also, unlike our grandparents, we will no longer live in the same home for 30 years. Statistics show that the average homeowner lives in their home for only seven years. And unlike our grandparents, we will no longer keep the same mortgage for 30 years. According to the Federal National Mortgage Association, or Fannie Mae, the average American mortgage lasts 4.2 years.

Given these statistics, more middle class homeowners are choosing to use their mortgage as a tool just like the wealthy -- those with the ability to pay off their mortgage but refuse to do so. Will you be one of those who create a new, liquid, financially secure dream?
Call me to discuss your best options in creating wealth through managing your home equity!

Bankruptcy Doesn't Need To Be a 7 Year Sentence!!

There are all different reasons that cause people to file for bankruptcy. Unfortunately, many people have been told that they have to wait SEVEN YEARS before refinancing or buying a home. This just simply isn't true! I specialize in helping people GET OUT of Chapter 13 Bankruptcy and paying off all their debts. What most people don't realize is that I have programs that will allow you to cancel your bankruptcy and pay off all of your debts in as little as 12 months after filing!! That's right, in most cases, there is no reason you need to continue to make your mortgage payment PLUS your trustee payment for several years. This can amount to thousands of dollars in savings and get you on the road to better credit, sooner!!
I also have programs that will allow you to purchase a home after discharging a Chapter 7 Bankruptcy, and again, you don't need to wait 5- 7 years. The key to these solutions is having on time trustee payments and/or starting to re-establish your credit history. For those of you who may not be "mortgage ready" I can recommend a course of action you can take that would allow you to remedy your situation, increase your credit score, and become "mortgage ready" in the coming months.... I never turn anyone away!
Because everyones situation is unique, it always starts with a FREE- No Obligation mortgage consultation where we can evaluate your current situation and find out how much we can save you. The call and the information are free, the advice and the service can be priceless!

An e-kit can save you thousands when buying, selling, or refinancing!

Getting the right information is critical when buying, selling, or refinancing. Having the right information can help you make the right financial decisions, which can ultimately save you thousands of dollars in your homebuying experience.
What is an e-kit?? An e-kit is like getting a mini website delivered to you via e-mail. Each mini website contains at least 12 expertly written articles on whichever topic you wish to pursue; Buying, Selling, or Financing. Each one contains valuable information that will save you money. You can receive your own e-kit via e-mail from me free of charge with no obligation.
To get yours email me at mailto:Adam@ZeroDownNJ.com-subject=E-kit and let me know which e-kit you are interested in and I will forward it to you immediately. Or, if you prefer, go to the Buying, Selling, or Financing sections of my website at http://www.MyBiggestDebt.com and download it there. And of course, if you have quesions, you can always comment me here.

Can You Trust Your Pre-Approval?

That's right, Not all Pre-approvals are the same! As a matter of fact, some aren't worth the paper they are printed on!! I know you may think that is a bold statement, but I have seen approval letters written for clients where the lender never even ran their credit! How can they possibly be pre-approved??

Another favorite question I ask those who have been approved is "Did you supply copies of your paystubs, w-2's, and bank statements?" Do you know how many have supplied proof?? Almost NONE!! Or, many times I have met a new client who was approved somewhere for a particular number but had no idea what their payment was going to be, or even how much they needed for closing costs. If you are going to get pre-approved, please make sure your getting pre-approved the right way.

When I approve my clients, we go over the down payments, monthly payments, closing costs, options for paying points, tax advantages of owning, and I will even send them to a real estate agent that will help them structure a contract that benefits them!! Then I issue a loan approval and they go shopping for a home. This way there are no surprises!!

Is Zero Down Financing Dead?

Absolutely not! Yes it is true that many of the mortgage guidelines have tightened and many programs have been discontinued due to the meltdown in the subprime lending sector. This so -called meltdown has impacted lending practices and has taken its toll on the stated income, subprime and even the Alt "A" loans.

HOWEVER, if you have decent credit and can verify your income, there are still many, many little or NO Down Payment loans available. This is a buyers market for the Full documentation and good credit borrowers!! In addition to Fannie Mae & Freddie Mac both offering their proprietary zero down products, the FHA is still lending to borrowers with 2.25% down, and the seller is allowed to pay your closing costs.

If you've been waiting to buy because you didn't have a down payment, Don't wait any longer!! With interest rates at the lowest point we've seen in years, and housing inventory is at the highest levels we have seen in years, it is a buyers market!!

Do you want to buy a house?? It all starts with a FREE E-Kit. A mini website delivered to you via e-mail. Visit my website at www.ZeroDownNJ.com to get yours today!! To find out if you can buy with Zero Down, and how much you can qualify for, contact me for a no obligation mortgage consultation. I look forward to speaking with you soon!!

Yes you can own a home of your own with little or No Money Down in 90 days or less!!!