Ways to Improve Your Credit Score
Pay your bills on time. Late payments are the most common piece of negative information that appears on a credit report. Since payment history accounts for 35% of your total score, falling behind can have a big impact. If nothing else, pay the minimum by the due date.
Keep balances low. If balances on your accounts equal more than 35% of the total credit available to you, it's hurting your credit. A good credit risk is someone who doesn't need the credit.
Don't close unused accounts. The longer your credit history the better. The length of time you've had credit is worth 15% of your total score. You get a star for each creditor you've had a positive history with, so don't close old or unused accounts, just put the cards away and forget about them.
Only apply for credit when you need it. Opening new credit accounts or having your credit check often will hurt your credit score temporarily.
Vary the credit used. The types of credit you have accounts for 10% of your credit score. That means that having a car loan, a major credit card, a retail card and a mortgage will help your credit.
Correct mistakes in your credit report. Get a copy of your credit report from Equifax and Trans Union and make sure all the information is correct and up to date. These two agencies deal with millions of people and pieces of information on a monthly basis. Mistakes can happen, which can result in false credit scores which can result in denied loans or paying more interest.
Avoid Bankruptcy if possible. This is bad news for your credit score, but may be the only option. If you're at this point, then your score has probably tanked anyway, and some debts may have gone to collections. It will take some time to rebuild your credit afterwards, but it does give you a fresh start.
Negotiate with creditors. Creditors are in the business of making a profit. If youre not paying your bills, it impacts their bottom line. Many of them can understand financial challenges and may be able to negotiate a solution that benefits you both.
Be patient. It takes time to repair a credit score or build it up. Follow these outlined steps and you'll be on your way to a Triple A credit rating.
10 Reasons to use a Real Estate Professional (Buying or Selling)
1. Knows the market. They are local market experts. They can provide you insights and detailed information about a specific neighborhood.
2. Has the training and experience. A real estate professional understands the process, opportunities and issues when it comes to buying and selling homes.
3. Offers price guidance. An agent will help guide clients to list their homes at the best selling price.
4. Offer professional networking. Real estate agents network with other professionals, many of whom provide services that you will need to buy or sell. Due to legal liability, many agents hesitate to recommend a certain individual or company over another; however, they can give you a list of references with whom they have worked and provide background information to help you make a wise selection.
5. Markets your property to other real estate agents and the public. Over 50% of real estate sales are cooperative sales; that is, a real estate agent other than yours brings in the buyer. Your agent acts as the market coordinator, disbursing information about your property to other real estate agents through a Multiple Listing Service or other cooperative marketing networks.
6. Knows when, where and how to advertise your property. When a property is marketed with the help of a real estate professional, you do not have to allow strangers into your home. Your agent will generally pre-screen and or accompany qualified prospects through your property.
7. Helps you negotiate. The purchase agreement usually provides a period of time for you to complete appropriate inspections of the property before you are bound to complete the purchase. Your agent will be able to; negotiate price, get the best terms and conditions and help you find a proper home inspector.
8. Understands market conditions. Real estate agents can disclose market conditions, which will govern your selling or buying process and will offer you a Comparative Market Analysis.
9. Guide you through the closing process
10. Answer your questions after closing. Many question can pop up after closing, and agents are there to help answer them.