Your life during a foreclosure might seem never ending. A foreclosure does affect your credit score report, but the good news is there is life afterwards. If you have fell victim to the Sub-Prim meltdown which caused you to loose your home, I will explain to you how you can recover from this fairly quick. Obviously anytime you have a negative mark on your credit report it will stay on there for 7 years. The positive side is you can implement some good credit management steps to recover.It will be a minimum of 3 years after foreclosure date before you can buy a house again. FHA and Conventional loans have a 3 year seasoning requirement before they will allow you to get financed. By implementing what I am about to teach you, you can still get your credit in the right direction.Step 1: Late PaymentsMake sure you don’t have anymore late payments on any of your other obligations. Late payments will destroy your credit.Step 2: CreditMake sure you have at least 3 lines of credit reporting on your credit report. This could be a couple of credit cards, secured credit cards, car loans, and installment loans.Step 3: RentalMake sure you […]
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With your Credit Score being the doorway to financial health I thought I would give some tips on what to avoid so your credit score is not affected. If your credit score is currently low I guarantee that you are paying too much to your creditors. Any business that is in business for profit is looking for a reason to make money. If a creditor knows your credit scores are low they will charge you for it. The reason is because they can. Here is what to avoid so your creditworthiness is not affected.Late PaymentsThis is one credit dink I see all the time. If you are late on a obligation that reports to the credit bureaus I assure you that your score will drop around 75 to 100 points. Timely payments account for 35% of your overall FICO score. This particular factor in your credit score is the biggest factor of all.Amounted OwedIf you have credit card debt, and the balanced owed vs. the allowed credit limit is more than 30%, your score is affected. The amount owed accounts for 30% of your overall FICO score. You should keep your credit debt well below 30% of the allowed credit […]
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With technological advancement and the development of the Internet, there are various benefits available to end users. Shopping is no exception to this and the option of internet marketing has been introduced as a platform to reach out to target customers irrespective of geographical location. Companies provide an array of products over the Internet, thereby making the shopping experience for consumers not only comfortable, but also enjoyable.There are innumerable benefits offered online to the shopping enthusiasts. Some of the major advantages of shopping online are mentioned below:1. ConvenienceWith shopping online, there are no hassles of driving to shopping malls, waiting in traffic jams, parking vehicles in crowded parking lots during the festive season or hopping from one store to another, which turns out to be a rather frustrating and tiring experience. Online shopping facilitates the overcoming of all such hassles and provides the availability of a wide range of products by a simple click of the mouse and all that from the comfort of your home. Browse through online stores and offered products while just sitting in your chair or while working simultaneously in your office.2. Time-savingAs there is no particular destination or shop that you have to flock to, […]
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