the below is my sample two articles picked from the many that i have.
1. WHAT IS YOUR CREDIT SCORE?
What is your credit score? This is the question that many at times bankers will ask you, in order to assess your credit worthiness. It is therefore important to maintain a high profiled history of your credit account. The lower your score the less worthy you are to get a loan, or it being approved, and if approved it may be costly as you will have to repay the loan at a higher interest rate.
It is therefore very vital to understand how you can improve your credit score. Bankers assess your credibility by breaking your profile into sub-sections, they will first look at your payment history, have you been up to date on your current debt? This proves your loyalty to them that actually you can be able to repay another loan if given. Payments that are due for more than 30 days will show up on your credit report, and to add salt on sore feet they will even show up for another seven years, and sure enough you don’t want to miss a loan because of ignorance.
The second factor to look at is maintaining a low debt account. If you have currently borrowed a significant amount, try to lower the balance by repaying it instead of asking for more. Many would say it isn’t an easy task, but it is possible if only you stop using the credit cards and channel your mind on making timely payments.
The length of your credit history is another crucial factor in improving your credit history. This is easily achieved by maintaining your old account instead of opening a new one which will actually cut loose your history and start a new one; this will make a well travelled journey to look rougher as you will have to start everything afresh. So be careful not to open new accounts because they will do great harm to your credit score.
The above are simple guide lines one needs to observe in order to avoid mishaps and disappointments of loan denials, so take the steps carefully and you will never regret.
2. HOME REFINANCING
Home refinancing can act as a good measure for anyone who thinks is living a budget less life in regards to owning a home. It is a measure of sub-dividing the source of your income which can be monthly or yearly finances, just like the government finances each sector of the economy, also home refinancing requires the same principle. This is entails directing your core finance to every given unit in the current household, and ensuring that you have left out a significant amount which can be saved for future payment of mortgages.
Home refinancing has the potential to help you reduce the current cost of borrowing money in order to own a home, so it is important to have a great and smart move. There are many ways to refinance your home satisfactorily, first you have to be well prepared for it and be sure to have a good inflow of money that is undisturbed, then you should decide where you want to live by looking at travelling cost to work, area schools, and resale value of adjacent homes look out for the home that you can afford, this is through considering the down payment, closing costs, mortgage, insurance and taxes. This is a critical and vital measure as it gives you confidence of making it through no matter what the challenges there may be.
Think about the kind of home that you require. Is it a newer home or is it an older home that requires some fix-up work? Is it one storey or two or even none? Is it a condo or is it a town house? Its important going to open houses to look at how the market is like, by this you maximize your chances of getting an affordable home and yet a nice and attractive one. If this is too hard you can get a real estate agent to help you. It is also vital to get an attorney to represent you in buying a home.
After getting the perfect and convenient home make an offer to buy it, and if the offer is accepted open an escrow account this will be followed by a title search to ensure there are no any liens on the property, you should also hire an inspector to make sure the home is up to code and not in need of any repairs that the seller might be unwilling to make a pay for or that you could not afford.
If you are satisfied with all this make a payment which maybe cash or through a mortgage, and afterwards you will be having a roof on top of you and freedom of spacious living. Oh! Yes that will be you enjoying your very own back yard.
thanx,
with regards,
William.
