Category Archives: Finances

Dan Asks… I just received my first credit card… What are a few ways in which I can manage it wisely?

It is incredibly important with your first credit card that you work on building a credit score. This will allow you to do a number of important things down the road such as being approved on a mortgage application, being … Continue reading

Keith Asks… With tax season upon us, what is the best way to utilize my tax refund?

As April 15 quickly approaches many of us are now getting to work on gathering all the documents (W2s, 1099s, Mortgage Interest Statements, Bank Interest Statements, Receipts for Charitable Donations etc.) necessary to properly file our taxes. This is all … Continue reading

Jim Asks… I have accumulated a fairly significant amount of credit card debt over the past year. Unfortunately, I have some bad money habits. What can I do?

You are not alone when it comes to credit card debt, according to a survey done by Card Hub, Americans accumulated over $18.4 billion in credit card debt in the second quarter of 2011 alone. As credit card debt in the … Continue reading

Ashley Asks… Is there a tax advantage for making my January mortgage payment in December?

  Yes, by making your January 2012 mortgage payment before this years end, you may in fact save yourself a substantial amount of money. If you were to pay your January 1, 2012 mortgage bill in advance, by the end of … Continue reading

Grace asks… I’ve heard that bi-weekly mortgage payments can save me a great deal of money… Is this true?

Grace what you have heard is in fact true! Bi-weekly mortgage payments serve as an accelerated mortgage payoff system which allows you to make one extra monthly payment per year. Here’s how it works; Instead of making 12 mortgage payments … Continue reading

Brian Asks… I have no debt or late payments; this means I should have a great credit score, right?

This is actually one of the most common credit myths out there. Just because you are financially responsible does not mean that you have good credit. Your FICO score (credit score) is a measure of your credibility when it comes … Continue reading

Kara Asks… Is it possible that I could lose my job or have trouble finding a new one if my credit score is low?

Excellent Question – especially in this environment! Credit is king right now and it’s so important that you do your best to keep the scores high for a variety of reasons – including your employment! For many employers routine credit background … Continue reading

John Asks … I have a contract to buy a foreclosure and the agent is telling me that I should use HomePath financing. Is that a good idea?

Hi John, first of all let me just say that HomePath financing through Fannie Mae can make buying a foreclosed home much easier on you. In fact, more and more foreclosed homebuyers are learning that HomePath financing allows you to … Continue reading

Ruth Asks… I am buying a house and have 10% down. I’ve been told I have to pay Mortgage Insurance – what is that exactly?

Mortgage insurance is a financial guarantee to your lender.  It helps to eliminate losses, in the case that you default on your loan. In other words, mortgage insurance takes the risk of providing an individual a mortgage loan, and spreads … Continue reading

Anthony Asks… I had to file a Chapter 7 bankruptcy 2 years ago due to a loss of a job and the inability to pay my mortgage. I got a discharge of my debts in the bankruptcy and the lender foreclosed on my home. What do I need to do to rehabilitate my credit and when can I expect to be able to apply for a new loan?”

Anthony this is a common situation right now. Im sorry you had to go through the experience. The FHA and VA guidelines state that you have to be discharged from a Chapter 7 bankruptcy for 2 years in order to … Continue reading