Home Buying – 5 Credit Myths Busted

From Ask Tara at Trulia

1.  HAVING LOADS OF CASH, TONS OF EQUITY, AND A WELL PAYING JOB MAKE YOUR CREDIT SCORE IRRELEVANT…

Lenders will look at your credits score.  No matter how much cash you have your lender will have FICO score guidelines that you will have to meet.  The best predictor of whether you will default on a loan is how you’ve handled credit in the past.  Assets do not necessarily diminish riskiness.

 

2.  HAVING NO DEBT OR LATE PAYMENTS MEANS YOU HAVE GREAT CREDIT…

Financial responsibility and credit are two different things. Your FICO score is a measurement of how you’ve managed your debt.  So if you have credit accounts, use them but do not abuse them.  If you do not have any credit accounts, you do not have good credit, you have no credit.

 

3. CHECKING YOUR OWN CREDIT SCORE IN ADVANCE PREVENTS SURPRISES WHEN APPLYING FOR A MORTGAGE…

Your mortgagor or mortgage broker must pull their version of a credit report, which can be very different than the free one you get online.  This is why it is very important to work with a professional as early as possible – so you can detect any errors or issues and get working on them.

 

4. IF YOU HAD A SHORT SALE OR FORECLOSURE, YOUR CREDIT SCORE WILL BE DAMAGED FOR 7 YEARS…

These will appear on your credit report for 7 years, but your credit score can be rehabilitated enough to perhaps buy another home in less time.  This depends on what type of loan you are seeking.

 

5. SHORT SALES HAVE FAR LESS IMPACT ON YOUR CREDIT SCORE THAN FORECLOSURES…

According to the FICO folks themselves, short sales and foreclosures have the SAME impact on your credit score.  What may make a difference are the number of missed payments before your home was lost to foreclosure or short sale.

 

 

By |2020-11-02T04:35:31-09:00December 8th, 2011|Good to Know, Real Estate News|

Foods that Help Improve Memory and Brain Function

Lots of factors can influence how well your brain functions – amount of sleep, stress, age, medications.  One factor we can all control and improve upon is nutrition. 

The following list contains 5 foods that can actually improve brain function:

 1. Green leafy vegetables like spinach, cabbage, and broccoli are rich in folate, and vitamins B6, and B12.  These chemicals help break down harmful substances that can accumulate in the brain and lead to forgetfulness.

 2. Whole grains such as brown rice, oatmeal, and items made with 100% whole wheat flour can increase blood flow, which helps deliver oxygen to your organs, including the brain.

 3. Eggs, a good source of protein contain choline which is essential in the production of some neurotransmitters that regulate mood and memory

4. Green tea has several benefits.  Most notable are the flavinoids which can reduce the production of a protein that forms plaques in Alzheimer’s patients.

 5. Blueberries are packed with antioxidants.  Researchers found that a diet that consistently included blueberries improved memory.

By |2020-11-02T04:35:31-09:00December 6th, 2011|Good to Know|

Help reduce Flooding – Adopt a Drain

Now that trees are losing leaves and the storms have begun, the chance of flooding increases.

There is one simple thing you can do to prevent localized flash flooding…adopt a drain!

The storm drain at the street outside your home can clog with leaves and rapidly cause flooding.   Please add this to your yard clean-up list when the leaves begin to fall…you will be happy you did.

By |2020-11-02T04:35:31-09:00November 22nd, 2011|Good to Know|

Do you have unwanted, unused, or expired medications?

According to the State of Washington, statistics show that drug overdoses and related poisonings have surpassed car crashes as the leading cause of accidental deaths in WA.  Teens are the biggest abusers of prescription drugs…often easily obtained from home medicine cabinets.

 Medicines should not be flushed or put in food or yard waste. Trash disposal is not safe because children, pets, or other adults have easy access. Also, flushed medicines can overburden our wastewater treatment plants, and eventually end up in our waterways.  

 So, what to do? Drug Take-Back Programs are the safest method of disposal for prescription and over-the-counter drugs.  For nearby locations, please visit:

www.takebackyourmeds.org/what-you-can-do/locations or phone 206-296-4692.

 

By |2020-11-02T04:35:32-09:00September 22nd, 2011|Good to Know|

Is there trouble lurking in your laundry room?

This is the result of a dryer fire

 What causes 5,600 fires, 15 deaths, and over 99 million in preventable property loss? Three words…dryer vent fires.  Most homeowners consider their clothes dryer a necessity. Improper installation and maintenance of this appliance can pose a serious fire risk.  The leading factor is the failure to clean lint from the trap, vents and surrounding areas.

The signs of a blocked dryer vent are:

1. Lengthy drying time

2. Clothes are hotter than normal at the end of the cycle

3. Dryer shuts off due to high temperatures

4. Increased heat and humidity in the area of the dryer

5. Flapper on the vent hood does not open when the dryer is on

The Community Association of Underwriters recommends:

1. Replace plastic and metal foil vents with 4” aluminum vents

2. Vent dryer directly to the outside, taking the shortest route

3. Never leave the house when a dryer is on

4. Install a portable fire extinguisher in the laundry room

5. Clean filter after every dryer load

By |2020-11-02T04:35:32-09:00September 20th, 2011|Good to Know|

While you are away…

Imagine returning from a trip to find that your home has been burglarized.  Having someone house sit for you is not always an option.  Try these few security tips:

  • Make your house look occupied.  Have inside and outside lights on timers.  Also try a radio on a timer.
  • Ask a neighbor or friend to pick up mail and newspapers while you are away.
  • Keep your yard clean.  Mow the grass and prune hedges before (so they do not block windows) you leave. 
  • Lock all doors and windows.  Never leave a spare key hidden outside your house.
  • Call the police and block watch captain to notify them that you will be away.
  • And if you have one, activate your security system.
By |2020-11-02T04:35:33-09:00August 15th, 2011|Good to Know|

U.S. DOT Expands Airline Passenger Protection

U.S. DOT and AirportsAre you aware that airline passengers have a right to be treated fairly? Airlines are now required to refund any fee for carrying a bag if the bag is permanently lost.  Airlines are already required to compensate passengers for reasonable expenses for loss, damage, or delay in the carriage of passenger baggage. All airlines must disclose all additional fees.  When you are bumped from a flight, you are entitled to cash compensation equal to the value of the tickets, up to $400. If it is a lengthy delay, you are entitled up to $800.  Remember, you can only be held on a tarmac for 4 hours.

By |2020-11-02T04:35:33-09:00July 15th, 2011|Good to Know|

Who knew Baking Soda & Lemon could be so useful?

Lemons and Baking SodaWe use these to kitchen staples for a variety of purposes and most of us have them readily available in our kitchens as well as other areas of the home.

What you may not have known is that, besides being great in a lot of different recipes,  keeping our refrigerators fresh, making lemonade, freshening up our garbage disposals and even lightening and highlighting our hair, both baking soda and lemons have some really fun, special powers.

Who knew these 2 commonly used kitchen staples could be so useful?

 

After reading this article, you’ll never want to be without baking soda of lemon again.

 

  • Wet your hands and rub together with 2 teaspoons of baking soda – fish and garlic odors disappear!
  • Create the fluffiest omelet by adding ½ teaspoon of baking soda for every 3 eggs used
  • Soothe your achy feet by soaking them in a bath of 1/2 cup baking soda in a half gallon of water
  • Scorched your favorite pan? Fill it ¼ full with water, bring to a boil and add ¼ cup baking soda.  Let cool and allow to sit overnight.  Burned on food should easily wipe off.
  • Eliminate odors by burning lemon peels in your fireplace or tossing a quartered lemon into your garbage disposal
  • Mix 3 tablespoons lemon juice with 1.5 cups of water in a microwaveable bowl.  Microwave on high for 10 minutes, allowing to steam.  Softened food will now wipe right off
  • To keep cut fruit, potatoes or guacamole from turning brown, add a few drop of lemon juice
By |2020-11-02T04:35:34-09:00July 15th, 2011|Good to Know|
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