How Does Your Banking Choices Affect Your Credit

Originally posted 2010-01-10 17:54:05. Republished by Blog Post Promoter

Despite the fact that banking fees are not part of your credit, those fees do affect your credit. How? Those unexpected fees that happen as a results of:

• A bounce check
• Using a “foreign” ATM (not the ATM for your bank)

Can cause you not be able to pay your other financial obligations. After all, when your check is direct deposited in the bank the fees owed are paid first, then whatever, bills or checks that you write against the account. There are, however, ways to avoid these unnecessary fees and yet a strong grasp of your credit at the same time.

The number one way to get a stronghold on your credit using your banking account is to balance your checking account. Ensure that your write down all your transactions in your check register including any fees that may be associated with the transactions. Next, balance your check book by subtracting the amount of the check, debit card transaction, or ATM transaction from the balance of the account.

Stop using “foreign” ATMS. This alone can save you up to $200 a month depending on the frequency that you withdraw money from the “foreign” ATM. As a matter of a fact, the charges for the use of a “foreign” ATM can be as high as $3.00 per transaction. In addition, your financial institution can charge you additional fees, as well, for honoring that transaction.

Understanding the fee structure of the bank before joining it can save still yet a lot of money. Some banks charge fees if you fall below a certain amount in the account. Still yet, the bank may charge fees if you write over a certain prescribed number of checks each month. For instance, one bank can charge $10.00 for every check over 25 that were written. Still yet, I found out from a friend that his back was charging him an overdraft fee for a debit card transaction that over drafted his account and $10.00 a day until he deposited money into the account to clear the transaction. He had amassed at that time over $400 in bank fees.

Another fee structure or pay structure that could get you in trouble with your banking institution is that of interest bearing accounts. On average an interest bearing checking account requires you to have a minimum balance of $832; where as, a non-interest bearing account has a minimum balance of $88. However, with the historically low interest rate that interest bearing accounts draw it may not be beneficial to have such an account.

A great saving choice is that of an insured money market account. It pays a higher interest rate than a regular savings account. Remember, that you can build a nest egg with as little as five dollars a week. I remember when money was tight for me I started with ten dollars a week. Those ten dollars a week went to purchase stock in a company that was considered a commodity. A commodity is something that you or anyone for that matter can use no matter what the economy is doing. As a matter of a fact, that stock help put a down payment of n a home and a car. Incidentally, I still have that stock, today. My point is start small if you have to but start saving.

Another option is look into internet banking. Be careful and shop around for the best option for you. Some internet banks offer better deals, higher yields, and lower fees than traditional banks. The drawback is that you will have to pay “foreign” ATM fees; however, some internet banks reimburse those fees.

Traditionally, the fees, interest rate, overdraft fees, etc. that you pay or receive is often overlook as having an adverse affect on your credit.

I hope this article has opened your eyes to the importance of shopping around for the best banking options and how doing so can improve your chances of acquiring not only a home soon, but improve your credit.

Consider Your Staircase in Your Next Remodeling Project

Originally posted 2011-12-02 23:21:12. Republished by Blog Post Promoter

When remodeling most people do not think of the staircase, but an update to the stairs can give that much needed face lift that you have been hoping for in your home.  Despite the fact that most architects feel that the staircases can add dynamic symmetry to the “horizontal and vertical plane” of any home or structure, most home owners only look at stairs as the ability to get from one floor to the the other.

Stairs can enrich the symmetry, as well as, the experience of climbing from one floor to another through various changes to the building or structure of the staircase.  More often than not, in your home you may have the straight staircase because it was the easiest to build.   However, there are three distinct staircases  that can give your home the lasting improvement that you will be happy with in your home.  Those structures are:

• the spiral stairs
• the landing stairs
• the winder stairs

Each of the staircases mention above has a design purpose, as well.  The spiral staircase and/or winder staircase are utilized in a short space, in a corner, or in a space that has an odd angled wall.   The spiral staircase can often be used in a space were there is little floor space or in a home where there is little budget for  a different staircase.

Whatever staircase you choose for your next remodeling project ensure that you use a respectable stairs contractor to complete the installation of the staircase.

Most importantly ensure that the contractor you choose abides by the building code to ensure the safe usage of the staircase for your family.

Related articles

• 24 Incredible Stairs and Staircase Designs (designsmag.com)
• A step-by-step guide to modern staircase design (telegraph.co.uk)

Credit and You

Originally posted 2009-04-04 05:39:19. Republished by Blog Post Promoter

If you are considering purchasing a home, auto, insurance, etc. it is important that you build a better credit rating.  In today’s podcast, Serena discusses the importance of improving your credit rating. 

This podcast reveals that there are three credit bureaus that every first time home buyer and investor should be aware of.  Those bureaus are:

• Equifax                 800-685-1111             www.equifax.com
• Experian               888-397-3742             www.experian.com
• Transunion           800-916-8800             www.transunion.com

 

Get your own playlist at snapdrive.net!

Purchasing a home may be the biggest purchase that you do so it is important to repair your credit at least three to six months before you plan to purchase your home. 

As promised, there is an attachment to a free example of a letter to dispute mistake on your credit reports.

sample-dispute-letter

Foreclosure – Latest News

Originally posted 2009-12-26 05:00:54. Republished by Blog Post Promoter

Today’s latest news will give you valuable information on what happens after a foreclosure when you want to rent, and other up to the minute news from around the blogosphere:

Extreme Makeover Home Edition Foreclosure? How Do You Write a …

Extreme Makeover Home Edition is an ABC’s ratings juggernaut. Each week, the show takes a family that is far down on their luck, and helps them.

Intent to Foreclose versus Notice of Foreclosure – Loan …

I noticed that I keep getting a Intent to Foreclosure letter whenever we are 2 months behind on our mortgages. However, we are currently on a special.

3 Miami-Dade firms accused of foreclosure scam | World News

Three Miami-Dade businesses were sued last week by the Florida attorney general over their alleged involvement in a foreclosure rescue scam affecting homeowners nationwide. more … You must be logged in to post a comment Login …

Important Advice When Rent After A Foreclosure | Articlicious

After a foreclosure rebuilding your life is a must . Some aspects such as recovering financial security will take time. However others cannot wait.

Related articles of foreclosures

• Real Estate News: Delinquencies Climb, ‘Dream’ Home Hits Snags (blogs.wsj.com)
• Fighting Mortgage Scams: Gov’ts Team Up (abcnews.go.com)

Mortgage Interest Rate – Latest News

Originally posted 2010-01-16 05:00:01. Republished by Blog Post Promoter

The latest news in mortgage interest rates is revealing suprising results:

The Financial Blogger » Blog Archive » What Will Happen With …

Since the beginning of 2008, Canadian home owners have been fortunate to benefit as the Bank of Canada dropped its interest rates lower and lower until its hovers near the floor with a 0.25% overnight interest rate. …

BloodhoundBlog.com | Principal Reduction Or Interest Rate Decrease …

National real estate industry marketing and technology blog written by, for and about real estate professionals. Realtors, lenders and professional investors come together to provide expert analysis of real estate marketing and …

Mortgage Interest Rate Predictions For 2010 | Latest Finance News

To truly benefit from a mortgage refinance, the new interest rates must be lower than your previous rate. With the housing market in the condition it is, and.

The Mortgage Interest Rate Lock Advisory for Cape Cod MA for …

Articles and Blog Posts About the Mortgage and Housing Market on Cape Cod.

Improve Your Credit Score – Lower the Interest Rate on Your Loans …

Improve Your Credit Score – Lower the Interest Rate on Your LoansSubprime Blogger (blog)By having a low credit score, under 650, you are going to find that the interest rate on most of your loans is very high. To combat this your goal …

Land Trust is a Good Option for Investors in This Market

Originally posted 2009-01-29 14:53:45. Republished by Blog Post Promoter

There was a great post at www.whataboutloans.com on the advantages of a land trust.  The post goes on to list advantages to the land trust to include:

• ease of control
• ease of transfer
• privacy of ownership

The article further defines the parties that own and use the trust and their roles in the transaction of a trust in relation to the purchase of real estate. 

Another key advantage to the trust that the article depicts is that the “beneficial interest in a trust is considered to be personal property, not real property. Therefore you can assign your beneficial interest in a trust to another party without a formal closing.”

Remember due to recent changes to Fannie Mae’s financing criteria investors need to reconsider how they take ownership of their new investor property.   Those changes are affecting investors who want to refinance the properties in their portfolio and have those properties under the entity, limited liability corporation (LLC). 

Freddie Mac backs many of the conforming loans on the secondary market, so any changes in the rules is very important and should be headline news; hence, this news release. 

The land trust is the best solution to combat this issue. 

Happy New Year

Originally posted 2010-01-01 05:00:23. Republished by Blog Post Promoter

Have a bless, safe and prosper New Year from the team of Taylor-Brown Real Estate.

Indiana Property Tax Appeal (Part 2)

Originally posted 2008-12-28 16:10:20. Republished by Blog Post Promoter

To get the forms needed for filing your property tax appeal visit
for Form 130 also called Form 11 CI www.in.gov/icpr/webfile/formsdiv/21513.pdf

For Form 11 RA visit http://www.in.gov/ibtr/files/DavidandPatriciaSullivan.pdf

For Form 113 visit http://www.in.gov/icpr/webfile/formsdiv/46725.pdf

Below is a video for filling out the form if your property is located in Porter or La Porte County:

If you need additional information or need the form, please email Serena at snorbrown@yahoo.com

Related Articles

Evaluation of Property Tax Appeal Findings

Property Tax Appeal Review (Video 1 of Section 1)

Indiana Property Tax Appeal

What is Assessed Value and How Does It Influence My Property Taxes

Outraged Over Property Taxes

Great News the End of High Property Taxes

Mortgage Crisis Is Not Over

Originally posted 2009-03-28 05:46:36. Republished by Blog Post Promoter

We are only half through this crisis according to Scott Pelley’s report.

Option arm and interest only loans have not hit the market yet.

Interestingly enough, the second mortgage crisis would not have existed without these so called “ninja loans”, the option arm and the interest loan.

Watch CBS Videos Online

It is time to refinance if you qualify. Visit www.amerisave.com/snbrown for the latest rates. Your credit score to qualify for a loan will have to at least be 700 and you may have to pay up to 20% down.

Surviving a Recession of Real Estate (Part 6)

Originally posted 2009-11-03 05:00:13. Republished by Blog Post Promoter

Today, is the last day of the series of tips on “Surviving a Recession in Real Estate”.

The cost saving tip for today is considering Pre-paid legal.   Pre-paid legal is a monthly fixed amount that you pay.  The monthly amount varies based on the amount of legal service you think you may require; however, the coverage is as low as $19.95 a month.

Instead of having the attorney draw up a lease each time you have a new tenant have the attorney draw up one lease that you can duplicate.  You could also have the attorney review several contracts at once for a reduced amount per contract.

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