Legislation has extended the Tax Credit.

As long as you have a signed contract as of April 2009 you have until the summer to get your mortgage.

You can still get the $8000! 

Your Bonus Monthly Tip:

We are heading into the final month of the year.

In the next 30 days do at least one thing to help your Credit! 

This month we are going to give you a few easy things to do in the next 30 days that will help your credit and get you heading into the new year on the right foot!

If you start working towards better credit you will be that much closer in 2010!

Here is the link to past newsletters if you are needing more information on specific topics:     

Archives

 So what's in this month's newsletter?

Our tenant home buyers are responsible for caring for their home, making their monthly payments on time  and in return they become homeowners.

There is no time like the present to commit to a rent to own home.

Still Looking for a Home?

Available Homes

 Application

Our inventory is going up ....giving you more options on beautiful homes.  

When you become one of our tenant buyers you also get Free monthly online classes plus quarterly in houses classes.  That way they can do them anytime anywhere and not have to come into a classroom each month.

Every newsletter builds on the previous one but each one on its own covers a topic that is important with regards to credit, financing, savings and home ownership that will assist you in becoming a successful  and knowledgeable home owner.

Let's review the important highlights so far. These are the core basics regarding credit.
 
 
The 5 most important factors that are considered in the credit score formulas are:
1.     Your payment history
2.     The amount of money that you owe
3.     The length of time you have had credit
4.     The type of credit that you have
5.     How many credit Inquires
 
Your payment history is very important and something that you can start to  change immediately.  It is the one thing you want to start improving right now. Once your history improves, everything else will follow.
 
You want your scores to reflect a positive payment history; to show that you make your payments and you make them on time.
 
The next topic that was very important that we covered was the notorious credit card (always stick with visa® Mastercard® American Express® and Discovery®  or get a secured card from your bank) and the concept of the "utilization rate". 
 
Or, the amount of credit you are using. This is where you ideally want to be spending less than 30% of your available credit.  So, with your credit cards or lines of credit, you want to keep your utilization rate less than 30% and pay on time.  Then you will see your credit scores improve as time goes on and you do this repetitively each monthly. 
 
The majority of people have errors on their credit report.  The credit bureaus just report what is sent to them, it is your responsibility to ensure the information is accurate.
 
Removing errors from your report is a time consuming endeavor, but it can be a very effective way to improve your credit without paying out extra money. 
 
Send the highest priority mistakes first as they will make the most difference. You want to send the letter with a copy of the document supporting your claim, like bank statements or cashed checks or credit card statements with limits. Remember always send certified mail return receipt and include your copies, never give originals, plus send copies of your id so that they know it is you. 
 
Judgments absolutely need to be dealt with prior to getting a mortgage. Collections for the most part need to be resolved as well.  Here is some information we went over regarding judgments and collections:

Judgements and Collections 

Don't forget that you can always access your own credit report for free once a year.

Here is how you do it:

Free E-Book

People pay money everyday to get their credit report and this shows you how to do it for FREE and not negatively impact your credit score.

Your List of things to do Before the year is Done:

1. Only use AnnualCreditReport.com to get your credit report!

 This is the ONLY website authorized by the Federal Government. Most of the other credit report services  sell your contact information to creditors. Therefore if you have any outstanding collections or judgments, especially old ones they will get reactivated and track you down.

2.  Under the Fair Credit Reporting Act (FCRA), the Consumer Credit Reporting Companies are permitted to include your name on lists used by creditors or insurers to make firm offers of credit or insurance that are not initiated by you ("Firm Offers"). The FCRA also provides you the right to "Opt-Out", which prevents Consumer Credit Reporting Companies from providing your credit file information for Firm Offers.

Just Go to:

Opt Out Prescreen

Through this website, you may request to:

Opt out of any preapproval offers.  

Opt-Out from receiving Firm Offers for Five Years - (electronically through this website).

Opt-Out from receiving Firm Offers permanently - (mail Permanent Opt-Out Election form available through this website).

Opt-In and be eligible to receive Firm Offers. This option is for consumers who have previously completed an Opt-Out request - (electronically through this website).

3. Go to the First Time Home Buyers Class offered for Free. This is a great place to start. You get a ton of information about home buying from financing to maintenance.  This class will also tell you about loan programs and you get a certificate that may entitle you to down payment assistance like CHAFA.

Where are these First Time Home Buyer Classes:

Every city in America offers "First Time Homebuyers Classes"

Typically it is a one day seminar on a weekend and is Free

We highly recommend you attend one...they are packed with valuable information and a great starting point to owning your home....even if you have owned before

Click here and then click on schedule for Colorado Springs dates and times:

Colorado Springs Agenda

Well, that is it....3 pretty simple things that you can do before the year ends!

Get started now and you will be suprised how easy it is to do once you take the step to improve your credit.  

Dedicated to improving your credit and making you a home owner,