Real Estate Credit Help

Free Loan Shopping Information Worksheet

2006-10-28T11:19:00.000-07:00

When you want to refi or to get a new real estate loan, be sure to shop around for the best rates and lowest costs.

Talk to three loan officers and do it at the same time--within a few days. That way you won't get extra deductions on your credit score because the CRA's (credit reporting agencies) know you're loan shopping. Although the loan shopping cushion is supposed to be fourteen days, loan rates may change and you won't get an accurate comparison.

Free Loan Shopping Information Worksheet

Credit Help after Bankruptcy

2006-10-27T08:47:00.000-07:00

One of the most frequently asked questions about getting mortgage financing is what to do after filing bankruptcy. You can purchase a home after filing bankruptcy, but you will need to pay higher interest rates. The faster you reestablish credit and the way you handle your credit after filing makes a huge difference in your ability to get a new home loan. Credit Help for Bankrupcy

Bandages for Bankruptcy

2006-10-25T19:58:00.000-07:00

Question from credit newsletter reader:
I would be interested in information on how to bandage one's credit from bankruptcy.

Answer from Jeanette Joy Fisher

#1 Rule: Don't make another late payment.

#2 Rule: Don't apply for a lot of new credit.

# 3 Get some credit, even if you need to a cosigner or to start with a secured credit card.

If you travel, you generally need a credit card, even if you're going to pay cash. You need one to make your reservations to rent a car, for example, and you'll also need one when you get to your destination to sign in at your motel. Love them or hate them, credit cards are simply a fact of today's world. However, getting a credit card can sometimes be a challenge, especially if you've never had one before or if you've run into financial difficulty in the relatively recent past.

But that doesn't mean you can't get a card, and one way to do that is to sign up for a secured credit card.

Here are a few things you should know if you're thinking about getting a secured card, but first, let's define the term. A secured credit card is one that requires you to put a certain amount of cash into an account, which then becomes your collateral for a card (often that amount is $300-500).

With that money in the account, you're free to charge up to that amount on your secured card. It can be a great way to get started, and if you continue to stay current, you'll sometimes be rewarded with either a credit limit increase that exceeds the amount you initially deposited or an offer to obtain an unsecured card.

A good place to look for a secured credit card is your local credit union. Quite a few of them offer their members secured cards, and many of them waive the annual fee that nearly all secured cards charge. If you don't belong to a credit union, shop around before you sign up for a card. Some companies even charge a fee to apply for a card, and the annual fees can vary greatly. You'll also want to read the fine print carefully. You want to know the interest rate, the fees, and the required deposit, and anything else that might be required.

You also want to know if the company will report your credit history to all three of the major credit bureaus. This will be important later on, because the main reason for getting a secured card in the first place is to establish a credit history that will serve as a stepping stone to more credit later on. If the company doesn't report your good payment habits, you're not gaining that advantage. How can you tell if they ARE reporting? You should begin getting offers from other secured credit card companies after you've made several payments on time. After about a year of excellent payment history, you'll often be able to qualify for an unsecured credit card.

The best way to put your card to use in building (or rebuilding) your credit is to make a few small purchases each month and then pay them off. Since they generally carry high interest rate, you don't want to carry a balance on a secured card. Your goal is to establish a good payment history, and although they serve a purpose, unsecured credit cards should best be looked at as a means of gaining entry into the unsecured credit card world.

Free Credit Tips for Mortgage Financing and Wealth-Building Tools ebook at the Real Estate Credit Help Center

Copyright © 2006 Jeanette J. Fisher

Making Bigger Credit Card Payments and Still Getting Nowhere?

2006-09-21T11:19:00.000-07:00

If you're like many others trying to pay off debt by making larger than the minimum due each month payments to each of your lenders, you might be frustrated at how little difference your efforts have made. What if you made one simple change in your payment schedule that could make a big difference in your financial freedom?

You can make a big change in your debt reduction with Accelerated Debt Payoff, also known as Debt-Stacking. Give this proven method of retiring your debt in a quick and speedy method a try and see some real difference.

What Is Accelerated Debt Payoff or Debt-Stacking?

First, determine what you're currently paying, in total, toward debt per month. Once you have that figure, rank your debt from the highest interest rate to the lowest interest rate. Simple so far, right? It gets easier! Now, you pay the minimum only, not one dime over, to every debt you have EXCEPT for the one with the highest interest rate. For that debt, you pay the minimum plus whatever you have left from that total sum you figured out earlier. You continue to do this each and every month until your highest interest rate debt is paid off. When that happens, you apply the savings you now have from the paid off debt to the next highest interest rate debt on your list - and so on, and so on. Before you know it, you'll be debt free.

Why does this work? You are focusing all your extra money on one debt at a time instead of spreading it out over all of them. By targeting the highest interest rate debt, you're erasing your most expensive liability quicker. As each debt gets paid, and you have accumulated savings to continue to apply, each successive debt is wiped out faster than the one before. You'll be happily surprised at how expedient this process is!

Don't worry if you've already consolidated all of your debts into one big loan. You should still be able to do this, to a certain degree. As long as your monthly payment for the consolidated loan is less per month than your individual payments were combined, you can make this work. Take a bit of what you're saving, and apply it to the consolidated loan payment to see a quicker payoff and less interest paid overall. For example; let's imagine that your total debt payments before the consolidation came out at $250.00, and your consolidation loan payment is $135.00. You have a savings of $115.00, and even adding a miniscule $10.00 on per month will make a surprising difference in long term payoff time and interest savings.

With this knowledge, you can now apply the money you were already spending in a more effective manner. Which means each dollar you spend toward debt becomes far more valuable and works that much harder for you.

Let's face it, getting out of debt can be a lifelong battle if you go at it incorrectly. Having the proper information will make all the difference in dealing with you debt in the best possible way.

Note: This is not the way to pay off your credit card debts for mortgage financing. You need another variation for that available in Credit Help! Get the Credit You Need to Buy Real Estate.

Free Credit Tips for Mortgage Financing ebook: Real Estate Credit Help

Real Estate Credit Teleseminar Tonight

2006-09-11T11:38:00.000-07:00

Monday September 11th
9:00pm EST/ 8:00 PM CST/ 7:00 Pm MST/ 6:00PM PST

How you can create cash flow out of thin air?
http://www.money4investors.com/newtele/

Beware! Online Credit and Mortgage Scams Are Everywhere

2006-09-04T14:22:00.000-07:00

by Jeanette Joy Fisher

One of our close family friends, an accountant and real estate investor, came too close to making a huge mistake online. Like many banks, Greg's bank sends out business banking emails to their customers. Our friend opened an email that looked just like the usual newsletter and clicked on a link to read more of an article. The website looked just like his bank's website. After reading the article, he clicked on a link to go to his account. Greg put in his password and ended up in a page that wanted to verify his account.

Although our friend stopped, he still had given his email and password. Many online services only require that information to enter their database. Do you always use the same password? Greg had to spend the day changing passwords on all the websites he remembered.

If you check your email every morning like millions of other Americans, you probably already know that scammers have become even more aggressive in trying to steal information about unwary consumers than ever before. Recently, one of the most prevalent schemes has been to send scam emails about home mortgage information. There are five main approaches scammers use to try to dupe you out of your personal information.

The first is a new twist on an old scam: an offer to fix your credit in twenty-four hours. In this scam, scammers promise that all your credit problems will be resolved in one day. It's a ridiculous promise, and one that can't possibly be fulfilled, no matter how much you're willing to pay. Fixing your credit can only be done over time and with serious effort.

The second scam is more sophisticated, and involves fake mortgage websites. These sites are often very slick-looking and meant to mimic those of genuine mortgage lenders, but their sole purpose is to steal your personal information. Since they look so real, these sites can be dangerous, but legitimate companies will never send emails asking for personal information, so make it a rule that if you get emails asking for such information, don't respond.

A third common strategy is called phishing, which is an even more sophisticated tactic, since the email itself is designed to look completely official, as if from a well-known lender, bank, credit card, or online auction company. These emails ask for sensitive financial information such as Social Security numbers, passwords, or account information. As with the other scams we've mentioned, the key is to remember that legitimate companies don't send emails asking for such personal information.

Another scam offers to completely eliminate your mortgage in as little as seven months. The email promises that you can use certain loopholes in the law to rapidly eliminate your mortgage, but it's not possible. Although the concept is tempting, it's not real, so don't fall for this scam.

In the fifth tactic, scammers send out official-looking emails that tell consumers to begin sending their mortgage payments to a new lender. If you get such an email, don't respond. If you follow the directions in the email, you'll only find yourself sending your money to the scammer's bank account. If you have any questions about possible changes to your mortgage terms, call your lender directly and ask. Although loans are often sold to investors and lending institutions do sometimes change names, you'll never be notified of changes via email.

If you believe that you've been victimized by an email consumer scam, you can file a complaint at www.ftc.gov. You can also visit www.consumer.gov/idtheft if you think your identity has been stolen or compromised. As a precautionary measure, you can further minimize your risk of becoming a victim of identity theft by ordering a free copy of your credit report from one of the three major credit bureaus once a year. However, your first line of defense will always be NOT responding to the various email scams you receive in the first place!

Copyright © 2006 Jeanette J. Fisher

Free Credit Help Tips ebook helps you with the five mortgage requirements. Learn how to qualify for your first home or multiple investment properties at WorryFreeCredit.com

Q & A about Credit Inquires

2006-07-17T18:54:00.000-07:00

Q: To many recent inquires impacted my score. I need at least 50pts for 100% financing by October to buy a house. I'm currently at 532 FICO score. Please help!
Sandra

A: Hi Sandra,

From an interview with a credit expert at TransUnion in Fullerton, California who wouldn't give me his name, I was told that too many inquiries would not lower a credit score by more than 20 points. The way he explained the point deduction goes like this: 2 points for each inquiry up to three per month; then 5 points deduction for each inquiry thereafter for one year. Unless you "pause for six months, then you would go back down to 2 points deduction and build from there. First he said that your score couldn't lose more than 20 points and then he explained how you could.

Exceptions to this rule include a buffer zone when you shop for a real estate mortgage or auto loan within either a ten day or fourteen day period. (Even the "expert" didn't know how many days you get!)

Credit reporting agencies (CRAs) have many pages online for you to research. Some fact I gathered state:

* You get 14 days in a mortgage or auto loan buffer zone where inquires get grouped together.

* You get more deductions for fresh inquiries and those over six months go down in negative deductions. (No CRA stated how much each deduction counts.)

* CRAs say that potential creditors and lenders look at an applicant with too many inquiries as "desperate." The CRAs then say the lender has no way of knowing whether or not the loan was approved, which would mean that the borrower could owe more money than what is listed. However, if the CRAs don't care and blame it on the lenders, why do the credit agencies compute inquiries into your credit score? And, with the instant reporting, any new loans should show up on your report!

What you can do about inquiries:

Look at your inquiries and ignore reviews from the CRA, reviews you instigated, tenant screening, and reviews from your existing creditors. These "soft inquiries" don't count against you.

Find inquiries from lenders you don't recognize. Write a letter to them and ask them to remove the inquiry from your report.

Besides IRS inquiries (which imply that you have a pending lien or action against you), collection agency review inquiries impact your score the most. These extremely negative inquiries tend to stay on reports longer than the law allows (7 years). People ignore them because they mistakenly believe that since they are only inquires, they don't mean much.

Dispute Process

Dispute inquiries and ask for removal. Write to the creditor direct by a certified or registered letter.

Sample Letter:

Dear Sir or Madam:

I discovered an inquiry from your company in a recent review of my credit reports. I do not recall authorizing you to review my credit history or report. Based on the FCRA, I would like to be sent proof that I initiated or requested for you to review my credit. Please forward a copy of my written authorization. If you cannot send me written proof, please promptly remove the inquiry from my credit report (name which credit agency) and send me confirmation of your removal action.

Thank you for your timely reply. I need to provide housing for my family and I am sure you don't want to harm our efforts.

Sincerely,

Sandy Smith

If all you have are too many inquiries, your credit score should be higher than 532. Therefore I assume that you will be sending other letters to the CRAs to clear other negative items. That's why I suggest you take care of the inquires issues by contacting the companies directly.

We can tackle other issues next time.

Good luck getting your dream home!

Jeanette Fisher

P. S. Did you get the free ebook about Credit Tips for Mortgages at Real Estate Credit Help?

Worry Free Credit Help

2006-06-13T11:12:00.000-07:00

Save Gasoline Costs with a Gas Company "Rebate" Credit Card?

The cost of gas has continued to inflate over the past thirty years. Gasoline companies vie for your valuable business by offering tempting rebates and other conveniences. Exxon makes it easier for you to buy; all you need to do is wave your card and fill up. "Speedpass: It's more convenient than cash and faster than a credit card."

How much do you want to pay for convenience? Stop and think before you apply for another credit card. What impact will an additional credit card have on your credit score?

Your credit score goes down a few points each time you apply for credit.

Your credit score goes down when you use unfavorable "consumer" credit. Gas company type of credit isn't considered prime by mortgage lenders. In fact, the type of credit you use influences ten percent of your credit score.

Saving a little money for gas can cost you a lot of money in higher interest rates on your mortgages.

Also, gas company credit cards usually charge a higher interest rate than a major credit card like a bank Visa or MasterCard account. Check the annual fee. Some companies charge as much as $79 in annual fees. The big problem with gas credit cards--consumers let the account balance roll over to the next month and end up paying interest charges on top of the expensive gas. Will the 5 percent rebate make up for all these charges?

Now, for the good news...

Some banks offer quality Visa cards with rebates for gas purchased at any gas station. For instance, MBNA America Bank's AAA Diamond Advantage Visa gives you both reward points and gift certificates. Other banks like Citibank partner with gas companies to issue a MasterCard with a 5 percent gas rebate and 1 percent rebate on general purchases. When you make the minimum number of purchases, your annual fee is waived. Maybe it's time to transfer your airline mile credit cards into gasoline reward cards.

Choose your credit wisely. Determine your financial goals. Do you want to build wealth in real estate? Then make your number one priority for your credit: mortgage finance qualifications. Weigh your options of gas rebates with the bigger picture.

Free Credit Tips for Mortgage Finincing ebook: Real Estate Credit Help

Copyright © 2006 Jeanette J. Fisher

Credit for Real Estate Investing

2006-05-01T21:28:00.000-07:00

Real Estate Investing: How to Get Started

By Jeanette Joy Fisher

The number one beginning real estate investors' first question is: "How do I find a bargain house to make money?"

Actually, their first question should be: "How do I get financing?"

How to Get Started in Real Estate

Worry-Free Credit Clinic with Terry Draine & Jeanette Fisher

2006-04-26T20:46:00.000-07:00

Are You Serious about Buying Real Estate--

* Your first home?
* Your first investment house?
* Multiple investment properties?

Is it too Late to Make Money Investing in Real Estate?

Get expert advice from two real estate professionals with different viewpoints.

April 27, 6PM Pacific Get the call information:

http://worryfreecredit.com/teleseminar.htm

Free Credit Help Teleseminar on Mortgages

2006-04-21T13:55:00.000-07:00

Join us Thursday, April 27 for a free teleseminar on how to get the best financing. Guest Terry Draine, loan officer, will answer your questions.

Send in your questions

Free Credit Help Teleseminar

Credit for Real Estate Investors Teleseminar Tonight

2006-04-18T09:36:00.000-07:00

Find out what it takes to get financing for fixers.

Join our FREE real estate investing teleseminar.

April 18 at 6 PM Pacific (8pm Central/9pm Eastern)

"Are You Serious About Wanting to Make Money Investing in Real Estate?"

I will interview Joe Luckino and grill him about his five flips he's doing--this month!

Find out how to finance with no money down!

Topics:
How to flip two houses a month
How to start out--buying and selling
How to obtain financing for fix & flips and rentals
How to find the "Good Deals"
What to do to these houses to move them quickly
How to advertise houses
How to do commercial deals and how to finance them without 25% down
How to quickly find good, reliable contractors who will not nickel & dime you to bankruptcy

Register:
Free Real Estate Teleseminar

Joy,

Jeanette Fisher

Joy to the Home, Design Psychology
Homes for glorious living and top-dollar sales
http://doghousetodollhouse.com

###

Question from Sy: How does one start out getting financing?

2006-04-04T16:59:00.000-07:00

Sy, I can't email your answer because credit, cash, money, mortgage and other words needed are considered SPAM.

Real estate investing doesn't require a lot of cash. You can buy houses, even as an investor, with no money down. You will need to have the ability to pay for repairs if you purchase a fixer, but many investors even finance these costs with the purchase mortgage.

Real estate investing doesn't require great credit. Of course, the better your credit, the less you pay in mortgage costs. But, you can get started investing in real estate with less than perfect credit and then use your new wealth to improve your credit score.

See the articles about real estate financing

Only here: Discount link for print book Credit Help! Get the Credit You Need to Buy Real Estate

Talk to a loan officer. See our list of recommended loan officers.

If you don't own your own home, that's the best place to start. Home financing is easier and less costly than investment property loans. Our son bought his home plus three apartments with only $500 down. He goes to college and doesn't even have a job. (Call Rob for that loan. His office has branches in most states.)

Joy to you in real estate investing,

Jeanette Fisher
Real Estate Investing Information

New Home Mortgage Elimination Scam

2006-03-26T11:36:00.000-08:00

It's every homeowner's fantasy: to own their home free and clear. There are lots of legitimate ways to pay off your mortgage loan faster, but here's the latest scam for folks hoping to eliminate their entire 30-year mortgage--in less than a year.

Mortgage Elimination Scam

Credit Reporting Agencies Selling Your Information

2006-03-25T16:23:00.000-08:00

It's not well known, but if you have recently applied for mortgage credit, the information you shared was probably sold within twenty-four hours of your application. Credit bureaus commonly sell what they term "trigger lists" of folks who have recently contacted mortgage lenders.

Read the rest of the story and about gas "rebate cards"

Free Credit Help Tips Newsletter

###

Beware of Predatory Lenders

2006-03-23T19:17:00.000-08:00

As the real estate market slows down and interest rates creep up, it's more important than ever to become a knowledgeable consumer. Learn the basics of mortgage lending, so you'll know when you're being charged too much for a loan or for things you don't need. Shop around to see what's available, and then make sure you're comfortable with your loan payment, because you'll be paying that amount for many years.

Predatory Lenders

2006-02-09T09:30:00.000-08:00

Rebuild Your Credit to Finance Real Estate

2005-12-23T16:39:00.000-08:00

By Jeanette Joy Fisher

If you're run into problems buying your first home or investment properties, here are some tips to rebuild your credit.

Establish or Rebuild Your Credit with Secured Credit Cards

Whether you're just starting out in the world of credit or hoping to rebuild a damaged credit report, using secured credit cards can help. However, you'll need some cash to get started.

First, let's define what secured credit cards are. They are REAL credit cards, generally Visa or MasterCard, that can be used for anything Visa or MasterCards can be used for. The difference is that they require the cardholder to deposit a certain amount of money into a checking or savings account to use as security against the card.

Secured credit cards also differ from debit cards in that secured credit cards are loans made against the money in your account, rather than simply having the money automatically deducted from your account, as is the case with debit cards. In that way, they can be a helpful tool toward either establishing or reestablishing your credit.

The interest rates on secured cards are generally higher than on standard cards, but not always. For instance, the website www.bankrate.com lists twenty-four secured credit cards, starting at 7.2% and going as high as 23.98%. Annual fees can vary from zero to $69.00, according to the site, as well.

Normally, you'll need to deposit at least $300 into a checking or savings account, which will then determine your credit limit on the card. (Each card will be different, so you'll want to do some shopping for the card that best suits your needs.)

Secured cards can allow you to begin rebuilding your creditworthiness by charging responsibly and then repaying according to your agreement. They can be a relatively quick way of either establishing or reestablishing your credit, and are worth checking out in your plan to gain control of your financial future.

Copyright © Jeanette J. Fisher

Jeanette Fisher teaches how to get out from under credit card debt, how to use credit to make money, and six ways to build strong credit to finance your first home and multiple investment properties. For free credit advice and free ebook "Credit Tips for Mortgage Financing," see http://worryfreecredit.com

Real Estate Credit

2005-12-19T16:04:00.000-08:00

Credit needed to buy real estate is not the same thing as having good credit scores.

Besides your credit score, mortgage lenders consider your debt-to-income ratio and other credit matters, unlike other credit grantors. Qualifications for consumer credit, such as credit cards, personal finance company loans, and auto financing, differ from mortgage qualifications.

In fact, you get different credit score ratings when you shop for an auto or consumer loan. Read that again. You get different credit score ratings from different types of lenders. Loan officers for mortgages see a different credit score number than an auto finance credit manager sees.

One day, my husband's middle credit score for mortgage financing was 725. Later that day, his credit score was 760 for auto financing. Credit scoring models differ for different types of loans. So, if you've recently been told that your credit score was a certain number, don't think that other credit granters get the same number. You can buy a car and get a credit card based
on one credit formula, but you might not qualify for a home mortgage.

On the other hand, just because you've been turned down for a credit card or an auto loan, doesn't mean that you can't buy a house! If you're paying rent, you can afford housing. Often, rent costs more than a housing payment. Mortgage lenders know this fact.

Tip
Don't waste your money buying your credit score. The score you get will not be the same score a car dealer or a mortgage lender sees.

When you apply for financing to buy real estate, lenders review your credit report, which they rate by your credit score. To qualify for mortgage financing, other factors come into play. Understanding all the qualifications helps you prepare for the best possible rates and the lowest mortgage costs.

Jeanette Fisher teaches how to get out from under credit card debt, how to use credit to make money, and six ways to build strong credit to finance your first home and multiple investment properties.
Free ebooks "Credit Tips" http://worryfreecredit.com
"Flipping Houses" real estate investing information

Free Credit Repair Help Articles & Advice

2005-12-11T21:01:00.000-08:00

I'm making a select article directory of helpful credit repair articles. Email me your credit repair articles.

Please write your own content and stop posting blurbs with your linking text on my blog. Google closed this blog down briefly because I allowed too many spammy posts. I can no longer afford to be kind and permit linking text comments.

If you post an article, you will get a linking text in your author bio.

Merry Christmas,

Jeanette

P. S. You can email me from the bottom of the new credit help article directory.

8 Insider Secrets of the Credit and Lending Industries

2005-12-01T21:25:00.000-08:00

Learning Annex, Los Angeles fun and facts...

Repair Your Credit and Unlock Your Financial Future
with Brenda Aguilar

Are you concerned about your credit? Do you want to improve your financial future? Looking to get the best deal on your next car or home loan? Or maybe you have been an unfortunate victim of "the unexpected" - divorce, medical problems, bankruptcy?

Do you think that there is no way out? Well there is! Whether you are currently in debt, or fear you're falling into debt, this empowering class is for you.

Let Brenda Aguilar be your guide to establishing and maintaining a solid credit rating. Her strategies can help save you thousands of dollars!

You'll learn:
* How to easily understand your credit report & get it in shape
* The 3 key factors lenders use to determine your financial health
* What the wealthy do to pay less taxes
* How to save thousands on your credit cards
* How to move from bad debt to good debt
* Strategies to improve your FICO scores
* The secrets of the wealthy.

Brenda Aguilar's company Financial Wealth Strategies has been teaching about investing in real estate and credit repair for over 4 years.

Course 805SLA, Section A
Tuesday, January 24, 2006 from 06:45 PM to 09:30 PM
Location: WESTSIDE

Discount Applies: Take 5.00 off this course for enrolling on the web!

Repair Your Credit and Unlock Your Financial Future

Free Credit Help Teleseminar

2005-11-22T18:32:00.000-08:00

Get the Credit You Need to Buy Real Estate

Get the Credit You Need to MAKE MONEY!

Learn how to repair your credit and get the credit needed to build wealth. Don’t limit yourself to just repairing your credit. Find out what it takes to use other people’s money to finance your dreams.

This class doesn't give you the same information as "credit repair clinics" who can damage your credit. Because so many of my students needed credit improvement to finance property, I researched the best way to strengthen credit specifically for mortgage loans.

Read more about it:
Free Credit Help Teleseminar

Happy Thanksgiving!

Jeanette Fisher
Worry Free Credit Help Information

Worry Free Credit Help

2005-11-21T21:29:00.000-08:00

Get out of credit card debt worries for life. Stop charging silly Christmas gifts and give gifts that you can afford to pay cash for. Learn how to use your credit to make money. Then you can pay off all your bills and live worry-free.

Get the credit you need to make money.

Don't Shop 'til You Drop on the Friday After Thanksgiving!

2005-11-08T21:06:00.000-08:00

Save your credit! Don't get caught up in the commercialism of Christmas shopping.

First, why do you need credit cards? If your answer was to charge luxuries that you can't afford to pay cash for-- that's the wrong answer! You should never charge luxuries unless you can pay them off at the end of the month. Charging items you can't afford make it hard to sleep at night.

If you answered to by food and gasoline--that's also the wrong answer! If you need to charge consumables, you're paying too much for items that no longer benefit you.

The are only TWO reasons you need credit cards.

1. Emergencies
2. To make money

What's that? Make money with credit?

Yes! Strong credit allows you to use other people's money to buy real estate.

Build up your credit scores and your other mortgage requirements so you can buy houses.

Stay home the Friday after Thanksgiving. You'll miss all the frantic crowds, traffic, and you'll save your credit.

Free Credit Help Teleclass
Saturday, Nov. 26 10:00 AM
By invitation and for "Credit Help! Get the Credit You Need to Buy Real Estate" book buyers.

Note: the book is going on special promotion with bonuses later this week because the publisher is changing the sub-title. Limited quantities available with the old title. Credit Help on Amazon.

Look for the website changes for the promotion this week. Send me your receipt if you purchase from Amazon to get the bonuses.

Copyright Jeanette J. Fisher

"Sub-Prime" Lenders and Politically Correct Terms

2005-11-06T10:06:00.000-08:00

If you want to get up to date, change your language and your labels. "Sub-Prime" lenders now get the label "Non-Prime" lenders.

I just read an article by an author promoting a website filled with goggle ads and no real content. The article said you can get a loan if you have bad credit.

Sure, you can get a mortgage with poor credit, but you will pay a lot more for your loan and higher monthly payments.

If you see articles on sub-prime lending practices, make sure you get the rest of the story. Besides paying more money for your mortgage loan, you may also pay hidden fees with a yield-spread premium. For more information, read about Predatory Lenders.

Improve your credit with help at the Real Estate Credit Help Center.