An in-depth look at some of the most misrepresented and misunderstood aspects of winning with money.
Each person has such different amounts of income as well as debt. Their loan types and overall credit history are varying so widely. I almost always have to tailor the strategy to the person and what they have on their particular plate. That said, there are still some core principles and key steps I believe can help no matter the ranging differences. … Continue readingCredit 201: “Debt Consolidation – Part 2 – Strategy”
Successful consolidations are rarely One-Hit-Wonders, meaning they usually take a few initial steps in order to increase your score / lower your debt-to-income before an amount adequate enough to payoff all of the debt can be approved. … Continue readingCredit 201: “Debt Consolidation – Part 1 – Things You Should Know”
What Exactly Is Debt To Income and Why Is It So Important? The Debt-to-Income Ratio is perhaps one of the most mentioned yet least understood ratios in the topic of finance. It’s quite simple when you break it down in normal layman’s terms. Most lenders … Continue readingCredit 101: “Debt-to-Income”
The most prevalent benefit and purpose of having Good Credit is increased approvability for loans and better loan terms, but beyond that it’s important to know what other factors in life are affected by good or bad credit. … Continue readingCredit 101: What’s So Good About “Good Credit”?
Anyone that tells me they “always get GAP” or “never get GAP” has made a foolish error. The decision of whether to get a GAP policy or not get a GAP policy is one that should be made completely based on the actual numbers, NOT opinions or preferences. I’ll walk you through what GAP is, how to tell whether you need it or not, and how to make sure you don’t pay too much for it. … Continue readingCredit 201: “GAP Policy; Do I Need It? Maybe.”
How much of what people know about Credit is actually true? How much of it is irrelevant or just flat out wrong? How much of it is simply the result of a bad game of ‘Broken Telephone’? That’s the game where, as school children, we’d … Continue readingCredit 101: The 5 Credit Factors
Wow! That’s a mouthful. Limit Utilization is actually the 2nd most influential Credit Factor and yet most folks never even hear about it. Those that are told about it are often told the wrong things. So let’s set the record straight so that you can … Continue readingCredit 101: Limit Utilization Percentage
Years before I got into lending, or banking for that matter, I was just as curious as anyone about “Credit” and how to get approved for a loan. In fact, I myself walked to work several miles each morning and afternoon in the Louisiana heat … Continue readingCredit 101: Improve Your Approvability!
How much should you save up before buying a home? … Continue readingFirst Time Buying: “How Much to Save Up?”
There are many types of Lenders when you’re buying Real Estate… Here’s how to understand how they differ. … Continue readingTypes of Lenders
There are plenty of ways to save money when buying or selling real estate, but one vital area that I’ve noticed most people don’t think to look is… shopping around to lower title fees. Sure you called your mom’s favorite friend that works at a … Continue readingHow to ‘Shop’ Title Companies
This is not the same as Homeowner’s Insurance which covers the property in the event of fire, theft, etc. PMI or Private Mortgage Insurance is a coverage mandated by a Lender anytime you, the borrower, do not have 20% equity in the transaction. This is … Continue readingWhat Is PMI?
LTV or “Loan-to-Value” is the ratio that tells lenders how Upside-Down you are on your collateralized loan. … Continue readingCredit 201: “Loan-To-Value: A Buyer’s Guide to Being Right Side Up!”