Few things are as frustrating as an unexpected credit score drop when you are working so hard to achieve your home-buying dream. Fortunately, while many factors can negatively affect your credit score, most are easily remedied and your credit score can begin its upward momentum once again.
Late Payments
Credit accounts report late payments to credit bureaus, so late payments on any of your loans or credit cards will be reflected in your credit score. Paying even the minimum payment on time will help prevent negative marks from late payments. In the case of loans, if you cannot make the full payment, talk to the lender to see if you can make a smaller payment rather than paying late. Most are understanding of life’s circumstances and are willing to work with you.
Using Too Much Credit...
Choosing to sell your home is one of the biggest decisions you will make. Whether you are selling your starter home and moving up, or selling your dream home to downsize, how quickly you sell your home depends on several variables. Consider the tips below when you list your home, and you may be packing boxes sooner than you think.
The Right Price
The first and perhaps most important aspect of selling your home is to price it right. Conduct your own research to find out how much comparable homes cost and have sold for in your neighborhood. These homes are called 'comps', and they will provide the best guidelines for pricing. When you consider the comps, try to think from the perspective...
Buying a home is one of the most important financial decisions in anyone’s life. Perhaps you are getting ready to start a family. Perhaps you are upgrading from your first home. Or perhaps you just want to make an investment. Whatever circumstances surround your purchase of a property, there are crucial steps to be followed to ensure you get the place that that suits your style, budget, and needs. Making certain that you do everything correctly can make the whole process much less of a hassle. Have a look at the seven steps to buying a home:
1. Figure out your finances
This is a vital first step. You must determine how much house you can afford. Get an idea of what kind of down payment you can make. Keep in mind that it is highly advised to pay 20 percent up-front for a home in order to avoid private mortgage insurance (PMI).Be...
Once you decide to sell your house, invest a little time and money in a quick makeover. Here's a list of easy and inexpensive do-it-yourself improvements that will make your home more attractive to buyers. Each of these quick fixes makes the house look less like your old, lived-in domicile and more like a new house waiting for a new owner.
1. Clean the House Top to Bottom
A new house is spotless; an old house is full of the dirt, smudges and scuffs that lived-in homes accumulate. No one wants to inherit a record of your kids' heights, even if the wall they're marked on is in the closet. Wipe them away. Sweep away the spider webs, wash the windows inside and out, clean every surface and pay special attention to corners. Your...
What does 'Sale Pending' Mean and Should I Still Make An Offer?
Sometimes, when you are house hunting, you discover the perfect home only to be dismayed when you find out there is a sale pending on the home. Hope is not always lost, and in some cases you can still get a contract on the home of your dreams.
Meaning of 'Sale Pending'?
A house with a pending sale basically means that there is a contract to buy that property and it is close to settlement. However,there are still things which may go wrong and cause the cancellation of the contract, such as the buyers changing their minds,job loss of the mortgagee, rejection of a mortgage loan and contract contingencies which fall through.
What Are the Reasons a House Sale Falls Through?
The...
Whether you're buying your first home or you're already experienced buying homes in the real estate realm, the process of purchasing a home can be complicated. One of the most challenging factors is the many home-buying myths that are often repeated by well-meaning friends and relatives. Read on to get the real facts behind five myths about the home-buying process. Having the right information can not only save your sanity as you enter into this process, it can also potentially save you thousands of dollars.
1. A Bigger Down Payment Is Better
After the housing bubble burst in 2007, the zero down loan programs that were once common all but disappeared. Since then, popular wisdom suggests you shouldn't buy a home unless you have saved a 20% down...
