Monthly Archives: March 2011

Dana asked… How can I get and keep good credit?

In the big picture, you can get and keep good credit scores without ever paying a dime in interest or carrying debt. Isn’t that great news? It is best if you have a couple cards that you uses sparingly and pay off in … Continue reading

Military Families Rejoice – Tax Credit Extended

Time is running out though on the $8000 tax credit for (qualified) military families wanting to buy their 1st home!  It expires April 30th!! In an effort to spur economic growth and home ownership, President Obama signed the Worker, Home … Continue reading

Buying Another Home – After a Short Sale

Although there is no credit advantage over foreclosure with a short sale, there is an advantage when it comes to buying another home. If your house is foreclosed upon, you must wait a minimum of three to five years before attempting to … Continue reading

Shorts Sales Hit Your Credit – HARD!

Many people think that, because they are avoiding foreclosure by short selling their house, they are not going to hurt their credit. This is not the case. If you short sell your house, you will take a huge hit on … Continue reading

What exactly is a Short Sale?

A short sale of a house is when the house is sold for less than what is owed on the mortgage. For this to happen, the lender has to agree to accept less money than what is owed. Not all lenders … Continue reading

How Much House Can You Afford?

Mary asked ALMC – How do I know how much house I can afford? When your parents bought their first home they were likely encouraged to stretch as far financially as they possibly could. Today, potential homebuyers are still pushed … Continue reading