Credit Repair

Credit Repair should be a “Free DIY”. 

Why? because any money should go towards the debt not someone else pockets. That in a nutshell is my personal opinion on the matter, not a fact. So on to the meat and potatoes I will will list some helpful tips to improve your credit score.

First off, What is credit? As define credit is the ability of a customer to obtain goods or services before payment, based on the trust that payment will be made in the future. 

1. Obtain your credit report to get a list of all your debt, current and past. The reason for this is to identify and dispute charges that may have been paid off or doesn’t exist anymore.

2. It takes time for your score to grow. Rank your debt in 2 ways, one based on amount and the next on interest rate. I highly recommend the lowest debt that is easiest to pay off in minimum time you should go ahead and pay off. Once the little guys are out of the way start paying towards the high interest. The reason why is because you want to get to the principal ASAP rather than wasting time and money on interest charges.

Key things- if the debt is close to 7yrs I wouldn’t recommend touching it since it’s on the verge of being dropped and considered a lost from the owner, but once again seek professional advice on this. 

3. Time to build. If you do not have a current credit card then get one, keep in mind the interest charge and benefits. The goal here is to keep or get your balance to no more than 33% every month. The reason why is because of the meaning of credit. Basically you are someone I could lend money to and in x amount of time you are capable of paying back your debt.

There are more tips and advice on increasing your score but these are just a few to help you on the way.

REO Bank Owned Properties and Foreclosures

REO Bank Owned Properties and Foreclosures

are great options, if your interested in Real Estate Investment. 

Here are some key things to keep in mind if you choose this route. 

1. Potential of paying the entire Transfer and Documents fee.

2. Usually there is no information on the disclosures.

 3. The sale is usually As-Is. 

4. The properties are not usually in the best shape may need some work.

Aside from these key points to keep in mind,

A sale is to be made and the earning potential is great. 

   

Economics on our "Taxes"

 

 

"Bar Stool Economics."

 

Suppose that every day, ten men go out for beer and the bill for all ten comes to $100. If they paid their bill the way we pay our taxes, it would go something like this:

∙ The first four men (the poorest) would pay nothing.

∙ The fifth would pay $1.

∙ The sixth would pay $3.

∙ The seventh would pay $7.

∙ The eighth would pay $12.

∙ The ninth would pay $18.

∙ The tenth man (the richest) would pay $59.

 

So, that's what they decided to do. The ten men drank in the bar every day and seemed quite happy with the arrangement, until one day, the owner threw them a curve. "Since you are all such good customers", he said, "I'm going to reduce the cost of your daily beer by $20". Drinks for the ten now cost just $80.

The group still wanted to pay their bill the way we pay our taxes, so the first four men were unaffected. They would still drink for free. But what about the other six men - the paying customers? How could they divide the $20 windfall so that everyone would get his "fair share?"

They realized that $20 divided by six is $3.33. But if they subtracted that from everybody's share, then the fifth man and the sixth man would each end up being paid to drink his beer. So, the bar owner suggested that it would be fair to reduce each man's bill by roughly the same amount, and he proceeded to work out the amounts each should pay.

And so:

 

∙ The fifth man, like the first four, now paid nothing (100% savings).

∙ The sixth now paid $2 instead of $3 (33%savings).

∙ The seventh now pay $5 instead of $7 (28%savings).

∙ The eighth now paid $9 instead of $12 (25% savings).

∙ The ninth now paid $14 instead of $18 (22% savings).

∙ The tenth now paid $49 instead of $59 (16% savings).

Each of the six was better off than before. And the first four continued to drink for free. But once outside the restaurant, the men began to compare their savings. "I only got a dollar out of the $20," declared the sixth man. He pointed to the tenth man, "but he got $10!" "Yeah, that's right," exclaimed the fifth man. "I only saved a dollar, too. It's unfair that he received ten times more than I!" "That's true!!" shouted the seventh man. "Why should he get $10 back when I got only two? The wealthy get all the breaks!" "Wait a minute," yelled the first four men in unison. "We didn't get anything at all. The system exploits the poor!" The nine men surrounded the tenth and beat him up.

The next night the tenth man didn't show up for drinks, so the nine sat down and had beers without him. But when it came time to pay the bill, they discovered something important. They didn't have enough money between all of them for even half of the bill!

And that, boys and girls, journalists and college professors, is how our tax system works. The people who pay the highest taxes get the most benefit from a tax reduction. Tax them too much, attack them for being wealthy, and they just may not show up anymore. In fact, they might start drinking in a state with no taxes, or overseas where the atmosphere is somewhat friendlier.

 

(Author unknown)

Tips after purchasing your new "Home"

Tips after purchasing your new "Home"

1. Update and forward your mail with USPS

2. Change your Locks

3. Locate the source of your utilities such as the Breaker Box and Shutoff Valve

2018 looks very promising, enjoy you new home.



Happy Holidays 2017

November- Closing cost national average

ClosingCorp released its latest study on closing costs. The national average is $4,876.

The highest costs are found here:

• District of Columbia, $12,573
• New York, $9,341
• Delaware, $8,663
• Maryland, $7,211
• Vermont, $6,839

ClosingCorp’s numbers includes lender and owner titles, settlement appraisals, transfer taxes, recording fees, and services such as home inspections and land surveys.

Montgomery County Senoir Tax Credit

#MontgomeryCounty is offering a Property Tax credit for Senoirs.

Information is listed below

http://www.montgomerycountymd.gov/Finance/senior-credit.html

The "Summer Market" has finally started if your thinking about buying or selling, I'm still here to help. #Maryland #MD #RealEstate #DMV #DC #Virginia #Houses#House #Home #Virginia #Buy #Sell

Happy "Memorial Day"

The simple steps toward Home Ownership.