Living the Dream!

Dave's Thoughts on "Cash for Clunkers"

Jeff Fullmer - Real Estate Investor/Financier (FM Properties) — Fri, 28 Aug 2009 10:47:01 -0700

I thought this was an excellent article on how the government got us into the housing crisis and now it is applying the same failed strategy to try to fix the auto industry.

Dave Ramsey's Article

What is the definition of insanity? Doing the same thing over and over and expecting different results???

Mortgage Rates, Idaho Falls: 5-5-2008

Jeff Fullmer - Real Estate Investor/Financier (FM Properties) — Mon, 05 May 2008 17:55:34 -0700

Todays Featured Rates

30 Year Fixed Rate
Rate	APR	Points
5.875%	6.009%	0.000%
15 Year Fixed Rate
Rate	APR	Points
5.500%	5.723%	0.000%

Actual interest rates and APR's may vary based on credit history and specific loan product. These rates are effective as of today, May, 5 2008 and are subject to change. Please contact me directly to recieve rates detailed to your specific loan program and credit score. You can also visit our website here to recieve up to date information on rates and learn how to recieve daily rates by e-mail.

Fed Cut A Mistake

Jeff Fullmer - Real Estate Investor/Financier (FM Properties) — Fri, 02 May 2008 17:12:28 -0700

The Federal Reserve is blowing it. Inflation is at 4% and they continue to dig an economical pit by cutting rates.

Some of the very best CD rates are barely at 4% right now and that is for 50+ months. So if you have your money in most accounts then you are losing money. Prior to this week, the Fed had cut 300 basis points off of the federal fund rate in hopes to boost the economy & patch up the housing market.

It has not worked so far and they are continuing to play their broken record. The more they play, the more inflation we are experiencing.

We have been fortunate that the mortgage backed securities have not felt the inflation pinch. How long can that hold out for? Will we see 7% this year on the 30 year rates? All arrows point to yes.

Figuring Out Credit Scoring, Easier Then You Think!

Jeff Fullmer - Real Estate Investor/Financier (FM Properties) — Fri, 02 May 2008 13:37:13 -0700

Getting students educated on the FICO credit scoring system is not a priority in the school system. Neither is it in almost all industries. The reasons for this can vary but the major one is that we are not provided with specifics on exactly how the scoring model works. This is done on purpose to protect the integrity of the scoring model.

It is frustrating sometimes but keep in mind that we do have an idea on most of the things that will help/hurt your score. Below is a graph to help explain what makes up your score.

Did you notice something? Maxing out your cards can be just as deadly as being late. Another item is that inquires make up 10% of your score. The inquires that hurt you are when a lender checks your credit to qualify you for a loan/service. However, the typical drop in your score is below 3 points.

Simply put:

Make your payments on time
Try to keep balances on revolving debt (credit cards) below 50% and ideally 25%
Keep at least 3 active loans or other credit file items on your report for at least 2 years to build your good payment history.
Have a good mix of credit items: A home loan, car loan, & credit card are the best and varied 3 to have.
Keep inquires to a minimum but when shopping for a home or car, you can do so in a short time period and several inquires will only count as one.

Do go to AnnualCreditReport.com once a year for your free report from all 3 agencies. If you have mistakes there are ways to remove them. If you have items hurting your score, you can fix them. It is easier then you probably think!

Jeff Fullmer- Loan Officer and Credit Counselor

What Are Your Odds of a 90 Day Late?

Jeff Fullmer - Real Estate Investor/Financier (FM Properties) — Fri, 02 May 2008 13:12:23 -0700

Your FICO credit score is based on a mathematical equation that is risked based. People sometimes get frustrated because the difference between a 679 and 680 can mean .25% on their rate. There is a major reason for this as the risk of lending a loan is greater now then ever. So new pricing adjustments have been adopted.

Below is a graph to show what your odds are of being 90 days late on a debt:

This graph does not appropriately scale the odds but it is the best I can do. It is in percentages but for those of you that play odds games here is that break down on your odds of being 90 days late:

800+ Score: 1292 to 1 (I would take this bet, wouldn't you! All lenders do!)

760-799: 597 to 1 (Interesting to see the odds cut in half, still great odds though)

720-759: 200 to 1 (Cut in half again, still a great bet!)

660-679: 38 to 1 (This is the reason 680 and below get hit hard on their mortgage rate, odds are not looking as good)

620-659: 26 to 1 (This is where we say goodbye to conventional lending as any lower and the odds get ugly)

500-600: 8 to 1 (Good odds if its a Laker's game but bad for a lender to take a loss on 1 in 8 loans!)

500-: 2 to 1 (This is why you will not get any kind of loan with a below 500 score. Its pretty much a coin toss.)

Know Your score, Repair Your Score, Protect Your Score, Stay Educated!

Mortgage Rates, Idaho Falls: 5-2-2008

Jeff Fullmer - Real Estate Investor/Financier (FM Properties) — Fri, 02 May 2008 10:50:17 -0700

Todays Featured Rates

30 Year Fixed Rate
Rate	APR	Points
5.75%	5.883%	0.000%
15 Year Fixed Rate
Rate	APR	Points
5.375%	5.598%	0.000%

Actual interest rates and APR's may vary based on credit history. These rates are effective as of today, May, 2 2008 and are subject to change. Please contact me directly to recieve rates detailed to your specific loan program and credit score. You can also visit our website here to recieve up to date information on rates and learn how to recieve daily rates by e-mail.

"Spring Just Won't Come to Idaho Falls" Pictures

Jeff Fullmer - Real Estate Investor/Financier (FM Properties) — Thu, 01 May 2008 12:24:02 -0700

Well... here it is, the eve of May 1st and we are at 32 degrees with the ground covered in snow. I have been putting off pulling out my camera because of this horrendous winter/spring we have had. © 2009 Jeff Fullmer

I am ready for the shutterbug to bite, I hope the lingering cold/snow does not chase it away. So I pulled out the camera to see what would happened.

I have photography in my blood but have never really explored it.

Reading (and seeing) pictures others have posted on AR has inspired me deeply. Thanks to all those who share.

An Exceptional, Superb & Powerful Life

Jeff Fullmer - Real Estate Investor/Financier (FM Properties) — Wed, 30 Apr 2008 12:18:12 -0700

40 Points to live by:

1. Take a 10-30 minute walk every day and while you walk, smile. It is the
ultimate anti-depressant.

2. Sit in silence for at least 10 minutes each day. Buy a lock if you have to.

3. Record your late night shows and get more sleep.

4. When you wake up in the morning complete the following statement 'My
purpose today is to ____ .'

5. Live with the 3 E's -- Energy, Enthusiasm, and Empathy.

6. Watch more movies, play more games and read more books than you did in 2007.

7. Make time for meditation and prayer. They provide us with daily fuel
for our busy lives.

8. Spend more time with people over the age of 70 and under the age of 6.

9. Dream more while you are awake.

10. Eat more foods that grow on trees and plants and eat less food that is
manufactured in plants.

11. Drink green tea and plenty of water. Eat blueberries, wild Alaskan
salmon, broccoli, almonds & walnuts.

12. Try to make at least three people smile each day.

13. Clear your clutter from your house, your car, your desk and let new and
flowing energy into your life.

14. Don't waste your precious energy on gossip, energy vampires, issues of
the past, negative thoughts or things you cannot control. Instead invest
your energy in the positive present moment.

15. Realize that life is a school and you are here to learn. Problems are
simply part of the curriculum that appear and fade away like algebra class,
but the lessons you learn will last a lifetime.

16. Eat breakfast like a king, lunch like a prince and dinner like a college kid (money wise that is).

17. Smile and laugh more.. It will keep the energy vampires away.

18. Life isn't fair, but it's still good.

19. Life is too short to waste time hating anyone.

20. Don't take yourself so seriously. No one else does.

21. You don't have to win every argument. Agree to disagree.

22. Make peace with your past so it won't screw up the present.

23. Don't compare your life to others'. You have no idea what their journey
is all about.

24. Burn the candles, use the nice bed sheets, don't save them for a
special occasion. Today is special.

25. No one is in charge of your happiness except you.

26. Frame every so-called disaster with these words: 'In five years, will
this matter?'

27. Forgive everyone for everything.

28. What other people think of you is none of your business.

29. Time heals almost everything. Give time, time.

30. However good or bad a situation is, it will change. So stop complaining
about the weather, the job, the rent, etc, etc.

31. Your job won't take care of you when you are sick. Your friends will.
Stay in touch.

32. Get rid of anything that isn't useful, beautiful or joyful.

33.. Envy is a waste of time. You already have all you need.

34. The best is yet to come.

35. No matter how you feel, get up, dress up, and show up.

36. Do the right thing!

37. Call your family often.

38. Each night before you go to bed complete the following statements:
'I am thankful for ___.' 'Today I accomplished ____.'

39. Remember that you are too blessed to be stressed.

40.Enjoy the ride. Remember that this is not Disney World and you certainly don't want a fast pass. You only have one ride through life so make the most of it and enjoy the ride.

May your troubles be less, May your blessings be more,
and may nothing but happiness come through your door!

(I got this in an e-mail and wanted to pass it along, I hope you found it helpful!)

Mortgage Rates, Idaho Falls: 4-28-2008

Jeff Fullmer - Real Estate Investor/Financier (FM Properties) — Mon, 28 Apr 2008 15:32:24 -0700

Todays Featured Rates

30 Year Fixed Rate
Rate	APR	Points
5.825%	6.009%	0.000%
15 Year Fixed Rate
Rate	APR	Points
5.625%	5.849%	0.000%

Actual interest rates and APR's may vary based on credit history. These rates are effective as of today, Apr, 25 2008 and are subject to change. Please contact me directly to recieve rates detailed to your specific loan program and credit score. You can also visit our website here to recieve up to date information on rates and learn how to recieve daily rates by e-mail.

The only Mortgage Calculators you will ever need

Jeff Fullmer - Real Estate Investor/Financier (FM Properties) — Fri, 25 Apr 2008 11:47:46 -0700

I have seen and used various online calculators over the year.

Prior to being in the lending industry I thought that calculating a loan payment was easy. Principle and interest is fairly simply and I was excited to find out how low of a payment I could get.

Then I owned my first home and realized that there were far more things to consider then principle and interest!

Below are some of the best calculators available. There is a 4 point analysis on the true aspects of refinancing that shows the entire picture of what refinancing will cost/save.

Make your life easier and save money with these free tools in one location:

How much would my monthly payment be?
How much would my monthly payment be with an interest only adjustable rate loan?
How much can I save with a 15 year mortgage?
Can I save money by refinancing now?
How quickly can I pay off my mortgage by making additional payments?
Does it make sense to pay points to get a lower interest rate?
Should I buy a home or continue to rent?
Should I consider consolidating my debt with a cash out refinance?

As always, feel free to contact me for questions:
Jeff Fullmer -(208) 239-8728
Idaho's Loan Expert- Citizens Community Bank

Mortgage Rates, Idaho Falls: 4-25-2008

Jeff Fullmer - Real Estate Investor/Financier (FM Properties) — Fri, 25 Apr 2008 11:17:38 -0700

Todays Featured Rates

30 Year Fixed Rate
Rate	APR	Points
5.825%	5.955%	0.000%
15 Year Fixed Rate
Rate	APR	Points
5.500%	5.723%	0.000%

These rates are effective as of today, Apr, 25 2008 and are subject to change. Please contact me directly to recieve rates detailed to your specific loan program and credit score. You can also visit our website here to recieve up to date information on rates and learn how to recieve daily rates by e-mail.

Idaho Falls chamber of commerce YPN group

Jeff Fullmer - Real Estate Investor/Financier (FM Properties) — Fri, 25 Apr 2008 11:06:48 -0700

Last night was our monthly event for the Young Professionals Networking group. It was held in O'Callahan's Restaurant inside The Shilo. We had a great turn out, about double the amount that showed up last time.

There was a brief educational insight, (presented by this months sponsor: Intelligent Employment Solutions), on how to higher the right employees. Most the night was spent socializing and having a great time getting to know other young professionals in the area.

This has been our 4th event for the newly sprung group.

(The Young Professional's Network is a program organized by the Greater Idaho Falls Chamber of Commerce for community members aged 21 to 40 for the purpose of professional and social networking.)

Winter Wonderland...

Jeff Fullmer - Real Estate Investor/Financier (FM Properties) — Thu, 24 Apr 2008 16:28:32 -0700

Sitting mesmerized here at my desk, looking out at a wall of white and reaching for a cup of hot coco, I ponder on the events of the week and what needs to be wrapped up tomorrow.

The snow is pounding heavily as the silver dollar sized flakes have now covered the grass. I shiver with a slight chill.

Its the end of the month and the busiest time when closings tend to rush by in an attempt to beat out the final few days.

Rates edged up today, "do you think they will come back down". "Of course" is my reply. "The pendulim is always swinging." The unknown is whether the rate swing will trend upward.

With a drop in sales volume, low rates have been a tremendous help. What if they ride the inflation wheel and slam into 7% or higher? The kiss of death?

The snow is now sticking to the road... I love snow. I love the "winter wonderland" experience. I simply prefer not to experience it one week before May!

Mortgage Rates, Idaho Falls: 4-22-2008

Jeff Fullmer - Real Estate Investor/Financier (FM Properties) — Tue, 22 Apr 2008 13:21:21 -0700

Todays Featured Rates

30 Year Fixed Rate
Rate	APR	Points
5.750%	5.883%	0.000%
15 Year Fixed Rate
Rate	APR	Points
5.500%	5.723%	0.000%
5 Year Adjustable Rate
Rate	APR	Points
6.125%	8.858%	0.000%
3 Year Adjustable Rate
Rate	APR	Points
6.000%	9.898%	0.000%

These rates are effective as of today, Apr, 22 2008 and are subject to change. Please contact me directly to recieve rates detailed to your specific loan program and credit score. You can also visit our website here to recieve up to date information on rates and learn how to recieve daily rates by e-mail.

Mortgage Changes in Idaho

Jeff Fullmer - Real Estate Investor/Financier (FM Properties) — Mon, 21 Apr 2008 17:53:19 -0700

I hear from many different Realtors that they have buyers sitting on the fence, obviously waiting for pricing on homes to hit rock bottom. Here is some basic information on why buyers need to ACT NOW!

Is there 100% financing available?

As we used to know it, no. In most cases the borrower will need 3% down. There is one option for first time buyers or even repeat buyers to obtain secondary financing (up to 5%) from Idaho Housing. (VA loans can go 100% too).

What is the deal with appraisals coming in lower then they used to?

Appraisals are coming in tighter. Most appraisers have always been cautious and followed the laws but now they are being scrutinized even more then ever. If you have a transaction in another part of Idaho then be prepared to possibly deal with a "soft market" situation where 2 appraisals may be required and only up to 95% financing is available.

What will happen with rates this year?

Fannie Mae predicted on March 4th that we would hit 5.5% mortgage rates. We have already and are now in the low 6's to high 5's. The other predictions I have heard are that we could see a rate of 7%. Inflation has been growing steadily as the Federal Reserve has lowered short term rates to stave off a recession. Inflation then becomes king and long term rates go up. Up until this last week, we had not really felt the inflation sting in the mortgage rates. The pain was felt last week and could increase.

Where are the mortgage brokers going?

Some are going nowhere and doing just fine. Others are not fairing so well as the playing field for what brokers and banks can do is becoming more level. Riskier loans are out as investors do not want to face potential losses. Every day guidelines are changing and the mortgage industry is completely different from a year ago. Make sure you trust the lender you are dealing with.

Your Credit Score: 120 points in 120 Days?!

Jeff Fullmer - Real Estate Investor/Financier (FM Properties) — Mon, 21 Apr 2008 17:13:24 -0700

What's Your FICO Credit Score? If you do not know the answer to that question then you could be in for a shock the next time you apply for a loan. In most cases, those who are in the dark pay for it.

So what is the big deal? You credit report is basically a "report card" on how responsible you are at paying your bills and managing your debts. As part of the report, you are assigned a credit score. The lower your score, the higher of an interest rate you will pay on everything from car insurance to home loans. Many try to be careful by making payments on time, keeping credit card balances below 25% of their limits, and not opening up new accounts all the time.

Many do not see a boost in their score. They take care of a late payment but their score is still low. Most individuals have had anywhere from one to dozens of late payments and some even have a bankruptcy (all of which stay on your report for at least 7 years). The problem comes when there are things in your past that you have taken care of yet are still causing you to have a low score. You can take all the preventative action you want but removing black marks off your credit report can be like trying to pull out all of your own teeth by hand. It can even by like trying to walk on water with a bull at your heels.

There is a way to see a 120 point boost in anywhere from 60 to 120 days. With the help of credit attornys on your side it is possible.

Contact Jeff Fullmer at (208) 251-3567 for more information.

How do you Rate?

Jeff Fullmer - Real Estate Investor/Financier (FM Properties) — Mon, 07 Apr 2008 17:39:21 -0700

Credit Reports Tattletale on your Finances

5 Items you'll find on Your Credit Report

You've applied for a loan at a bank or other lending institution. You've done your research, filled out all of the required forms and you think you've meet all of their requirements. All you need to the formal approval. Then you find that your application has been denied. The reason is commonly a poor or irregular credit report.

This may leave you wondering: "What is a credit report and why did it have such an impact on my loan application?" A credit report is a document that details your personal financial data and history. These reports essentially show the reader how you manage your finances and the information recorded in it can be the major factor in a bank's decision to approve your loan application or deny it.

What type of information does your credit report include? Here's a quick overview of some of the information included on it.

Personal Information

Information in this category includes things like your full name, social security number, current and previous addresses and current and past places of employment. This information is gathered from the information you have given to past creditors so you'll want to ensure that there are no discrepancies.

Public Records

This section of a credit report details things like bankruptcies and foreclosures as well as any accounts you might have in collection.

Your Credit History

Anyone reading your report will be able to see the number and types of accounts you have. They will also be able to see the payment history for each account and that includes all late payments.

Credit Inquiries

This section of your credit reports lists anytime you made an inquiry for new credit. If too many of these are made in a short period of time, lenders taken a very negative view of you and your financial management abilities.

Your Credit Score

After your credit profile is looked at, a number is assigned that falls between the range of 340 and 850. The higher the number is the better. The higher your score, the less of a risk the lender perceives you as.

Your credit report can have a huge impact on your ability to secure a loan and on the terms that you get when your application is accepted. A poor credit report will mean higher interest rates and poorer terms and could also mean a rejection of your loan application if the lending institution is not impressed with your credit history. That's why it is so important to secure a copy of your credit report before applying for a loan. You want to have time to correct any debt management issues before a lender sees it, not after.

There are several agencies that can help pull your credit report for you. There are different types of reports you can receive including one with or without your current credit score and one that offers a side-by-side comparison of your standing with all three of the major credit reporting agencies.

You may find yourself surprised with the results, particularly if you decide to use more than one company. The problem may not be with your credit, but with discrepancies in your report. The information may be out of date or contain incorrect information, and though an old address may not seem like a big deal to you, your bank may have questions and those questions could prolong the loaning process. Be sure to take a close look at these credit reports and correct any mistakes as soon as possible to ensure that was your banks see is an up-to-date and completely accurate view of your financial history. You'll have to make sure that update your information with each major credit reporting agency because they work independently of each other and do not share any sort of information between them.

Any comments made on your report are there for some time. If the comments are positive then that's a good thing, but a negative comment from a past lender can influence your buying and borrowing power for seven to ten years if that comment is accurate.

It's important to remember than any sort of financial decision you make, influences your financial future. Take care when managing your debt - your past's actions can prevent your future dreams from coming true.

Get in Shape, Go Jump Off A Cliff!

Jeff Fullmer - Real Estate Investor/Financier (FM Properties) — Mon, 07 Apr 2008 17:31:25 -0700

I enjoy hiking and had the pleasure to go out several times last year (one trip included a week in the Tetons). It is relatively inexpensive and a great way to get in shape. My favorite part is getting to the top of a 10,000 or 12,000 foot mountain and then doing what I call "jumping off the cliff". I like to run and "glissade" down the mountain in a hopping fashion. Its almost like you are skiing but you have no skis or snow. Its a rush and one that involves agility, stamina, leg strength, and a good pair of shoes. You also have to be slightly nuts.

Backpacking is an awesome way to get in shape and shed not only pounds but stress. You may not be ready to "jump off the cliff" but anyone can grab a backback and head for the mountains (or hills in some cases). Summer is almost upon us and if you haven't had the chance to go backpacking then try something new! Here is a simple list of things you might need to get going and to consider:

The Basics

Backpack (3,000 to 5,000 cubic inches) WEIGHT
Sleeping bag (rated to 20 to 50F) WEIGHT
Sleeping pad WEIGHT
Two-person tent/tarp WEIGHT
TOTAL WEIGHT TOTAL
YOUR WEIGHT WEIGHT

Pack % of your weight (divide total weight by your weight) (ideal weight 20-30%)

Eating and Drinking

2 one-liter water bottles
Water purification (filter, iodine, or bleach)
Stove and fuel
Wind screen (to protect the stove flame, constructed out of aluminum foil)
Pot/pan with lid
Waterproof matches and lighter
Cup or mug
Lightweight bowl and spoon
Multi-tool or utility knife

Clothing

Trail-running shoes or hiking boots (broken in and waterproofed)
Sandals and fleece socks or lightweight camp shoes
Wool socks
Sock liners*
Synthetic long-underwear bottoms and tops
Synthetic shorts or convertible pants
Underwear
Synthetic/wicking t-shirt
Poncho
Wool or fleece jacket (or vest if warmer)
Wool or fleece hat*
Wool/fleece gloves or mittens*
Bandanna

Accessories

Map and compass
Headlamp
Toilet paper in Ziploc bag
Plastic potty trowel
Extra Ziploc/trash bags
Lip balm
Sunscreen
Hand sanitizer
Toothbrush and toothpaste
First-aid kit (Band-Aids/bandages, Aspirin, antiseptic wipes, poison ivy treatment such as CORTAID® Treatment Kit, moleskin, tweezers)
Pack rain cover or garbage bag
Bear-bagging cord

Optional Items

Sun/rain hat
Sunglasses
Camera, film
Ground cloth
Duct tape
Watch
Whistle

Special Considerations

Contact lens wearers: bring solution and back-up glasses

This list is just to get you going. Pick and choose wisely but always remember to pack light. At 11,000 feet you will be glad you did! Once you get out you will be shocked

4/7/2008 Idaho Mortgage Update

Jeff Fullmer - Real Estate Investor/Financier (FM Properties) — Mon, 07 Apr 2008 17:01:09 -0700

It is another blustery day here in semi-thawed Idaho. We seem to be a month behind on crawling out of winter. I still have a couple piles of snow in my yard here in the valley and so we have yet to reach any considrable warmth.

The weather may be cold but rates are steaming! We have been hovering in the high 5's for the past couple weeks. Friday we were down a little and today came back up a tick or two. I feel like I continue to beat the same drum but here goes: GET IN AND GET QUALIFIED NOW! The approval is good for 120 days so if you are even thinking about buying or refinancing before August then get in and take advantage of a swinging rate market!

House Rich and Cash Poor!

Jeff Fullmer - Real Estate Investor/Financier (FM Properties) — Mon, 07 Apr 2008 16:43:17 -0700

House Rich and Cash Poor - Buying a home that you can afford

There are many factors to think of when buying a home. Many home buyers tend to overlook financial factors and can become financially over their heads before they even know what is happening. That is why when you start looking for a home you should take every single fee into account, both in terms of loaning and payments after you have bought your home. Here we will go through some things that shouldn't be over looked so you can buy a home you can truly afford and without having any fees or other things popping up in your road unexpectedly.

The first things you need to think of are these factors:

How much your down payments will be? Most loan companies usually want between one and twenty percent.
How much loan will you need to get and how long will you need to get it for, fifteen years or thirty years?
How are you going to pay the closing costs? This is one of the things many people tend to overlook at first. This could come straight out of your pocket, or as part of your down payment, or will it be tapped onto the rest your loan?
How much will your loan cost you at the end of it all, with all the interests and fees included?

Once you have figured out what amount of monies you will need, you will have to think about these factors:

Are you going to be able to afford the repayment costs each month along with other costs like living expenses?

For example:

Your utilities
Your car payment
Your insurance
Food and healthcare
Credit card debts and other such things
How are you going to pay off your loan, along with everything else, if you fall into financial hardship?

All these things will come into account when you have a mortgage loan and you might not even think of them at first. Just because the company gives you the loan doesn't mean that you really can afford it. It is one of the things you will have to be careful about and really think about before taking the loan so you don't get in over your head.

Another thing people tend to overlook when buying a home is the costs of:

Your lawyer
The inspector
Pest control
Escrow
The real estate agent, if you use one on a FSBO
Will you be able to afford any repairs and anything else that is needed on your new home before you are able to move in?

How about after you have found and bought your home, will you be able to afford things such as:

Renovations you would like to carry out
Decorating and remodeling expenses
New furniture and household goods
Maintenance
General upkeep of the place
Your insurances
How about a security alarm

Another thing you should consider is your plans for the future. Do you plan to get married soon? Start a family? These are things that you should consider when weighing your financial strengths. Greater expenses can add a burden to you mortgage payments.

As you can see the cost in a home is huge when you first delve into the whole process and a lot more complicated than most think at first. You should sit down and take them all into account before taking out a loan. Try using one of the calculators on the internet first, just so you can get a fair idea what you are heading for in terms of money. When you do finally take a step into buying your own home you should seek the advice of a financial professional who can go through your budget for you and help you determine exactly what you can afford. They will help you find a home and a loan that will meet your budget so you never fall into a financial trap where you are biting off more than you can chew.

With the right planning and the right loan, you can buy and enjoy the benefits of owning your own home and know that it is truly one that you can afford for years to come. Good Luck to you!

Boosting Your Credit Score: Part 63, Parting Advice

Jeff Fullmer - Real Estate Investor/Financier (FM Properties) — Mon, 07 Apr 2008 12:27:20 -0700

Conclusion

If you have read all 101 tips for improving your credit score then congratulations!

If you follow all - or even some - of these tips, you will notice an improvement in your credit rating with time. The main thing is to keep showing lenders that you are a good credit risk and keeping your credit report safe from identity thieves and hackers. If you already suffer from bad credit, developing your own method of credit repair using the tips in this report can help you reestablish the credit risk rating that can get you the best interest rates possible.

In general, you will want to follow at least four steps to better credit scores:

1) Check your credit report and credit scores. Assess your current situation and make sure to correct any errors on your report by writing to the credit bureaus and to the creditors involved. Immediately report any charges you don't recognize - these may indicate an error but they might also indicate that you have been the victim of fraud or identity theft.

2) Pay down your debts and pay your bills on time. Close down the shorter-term loans if you need to.

3) Do all you can to make good financial habits automatic in order to keep your credit rating good.

4) Address particular issues - such as too much debt or a student lifestyle - that you think may be contributing to your low credit rating.

Developing your own plan for credit repair is the most cost-effective and often the most effective way of dealing with bad credit. It also gives you the tools, knowledge and self-confidence to take control of your finances and ensure that you get the best credit score you can.

By being persistent and following the tips in this report, you can turn your credit situation around. With your new, good credit score, you can become qualified for that great new job, that apartment, or the fabulous interest rate on that loan you need. With a great credit rating, your financial life will be much easier.

You have all the tools and resources in this report to start repairing your credit right now. You can use the tools presented here to follow your financial dreams and achieve the success you deserve. So start reestablishing your credit so that you can live the life you want right now!

Boosting Your Credit Score: Part 62, Keep at it

Jeff Fullmer - Real Estate Investor/Financier (FM Properties) — Mon, 07 Apr 2008 12:23:05 -0700

Tip #101:

Keep at it Credit repair is not something that you simply do once in a while when your credit rating slips below 620. Credit repair and credit check-ups need to be part of your overall long-term financial plan. You need to follow a regular maintenance schedule of checking your credit reports regularly (you can get one free credit report from each of the major credit bureaus every four months, which lets you check your credit for free three times a year).

Regular check-ups will ensure that you have not been the victim of identity theft and will help you make sure that your credit has not begun to slip. Catching errors and problems early can be an excellent long-term way to ensure that you never need intensive credit repair again. Your credit should be part of your financial goals because your credit can help you meet your goals. Good credit can help make loans affordable, and so can help make education, homes, and cars possible. Your credit score will not stay steady - it may drop due to oversight or if you suddenly open some new loan accounts. However, overall you should continue to follow the strategies in this report in order to develop good habits that will keep your financial life stable and will help keep your credit score overall in good repair.

Boosting Your Credit Score: Part 61, Collection Agencies

Jeff Fullmer - Real Estate Investor/Financier (FM Properties) — Fri, 04 Apr 2008 15:24:00 -0700

Tip #100: Learn to deal with collection agencies

If you have bad credit, you will have to deal with collection agencies sooner or later, and these companies often present the most persistent and unpleasant problem for those with bad credit. Collection agencies are basically companies that work on behalf of companies to try to recoup money that is owed.

If you owe your credit card company a payment that has not been made in some time, your credit card company will eventually ask a collection agency to speak with you. In many cases, collection agencies try to get money for their clients through phone calls. Some collection agencies are quite reasonable and will try to work with you. However, some will use threatening or harassing techniques - including verbal threats and daily phone calls - to try to get you to pay. To prevent the stress that collection agencies can cause, learn to deal with collection agencies. You should always get the full name of whomever you speak with at a collection agency. You should try to be honest about your ability to repay and try to work out a payment schedule or payment options. If at any point you feel threatened or harassed, say so. Hang up the phone if the collection agent persists and contact the company who is trying to recoup money from you directly.

Note that the collection agency the company uses has been using is using abusive or upsetting language and ask to resolve the issue with someone at the company directly. Get the name of the collection agency and report them - and the agent you spoke with - to the Better Business Bureau. Refuse further calls from the collection agency and continue your communication with the creditor directly, noting each time the collection company contacts you with harassing or abusive calls. Unfortunately, some collection agencies feel that intimidation yields the best results and since most collection agencies work through telephoning, they feel that they can say whatever they like (including making personal and false accusations) in order to try to recoup money for their clients. There is no paper trail and few people harassed by the agencies take these companies to court.

Some debtors feel so ashamed of their bad credit rating that they almost feel that they deserve the abuse. Both views are completely wrong. A bad credit rating does not make you deserving of abuse. Report collection agencies that offer harassment as a technique and make it clear to lenders that you will not work with a company that uses abuse as a technique of recouping money. Some collection agencies will try to use your credit score against you, telling you that they can ruin your credit score at a glance or file a claim on your credit score. Don't fall for this. Your credit score is instantly affected when you fail to make a payment or are reported to a collection agency, but there is nothing that the collection agency employee can do to make your credit score worse beyond those two things.

You will still be eligible for credit in many cases. Do not let false claims about your credit score intimidate you into accepting the abuse of a collection agency.

Boosting Your Credit Score: Part 60, Get Help if you need it

Jeff Fullmer - Real Estate Investor/Financier (FM Properties) — Fri, 04 Apr 2008 15:21:34 -0700

Tip #99: Get help if you need it

Do not be afraid to ask for help - financial or emotional - if you need it. There are a number of wonderful organizations that can help you if a problem is causing your credit problems. If you have credit problems due to compulsive overspending, for example, Overspenders Anonymous can be a great help.

If you suffer from a gambling problem, there are a number of charitable organizations that can help you overcome the addiction. If you have accumulated debt as a result of these sorts of specific problems, you will not really be able to fix your credit rating unless you deal with the problems behind the bad credit. Many good groups and therapists out there can help you.

Find a recommendation for a good one from your family doctor or a trusted friend or family member. You will be glad that you did.

Boosting Your Credit Score: Part 59, Debt & Emotions

Jeff Fullmer - Real Estate Investor/Financier (FM Properties) — Fri, 04 Apr 2008 15:20:30 -0700

Tip #98: Don't mix debt with emotion and stay aware of your emotions

It pays to separate your feelings of worth and your emotions from your finances, especially when you are trying to repair your credit. Feeling self-pity, shame, fear, or sadness as you try to repair your credit score won't help you. Staying calm and professional as you deal with credit bureaus and financial professionals will help you. If you need to, keep telling yourself that your credit score is just an important number. Keep it separate from yourself and your emotional state as far as possible.

Bad credit can be emotionally trying, and boosting your credit can be daunting and difficult as well. It is important that you keep track of your emotions during the process. If you find yourself dwelling on your credit too much or if you find yourself severely depressed, seek help at once. A credit problem is a fixable solution - do not let it become an emotional disaster for you.