5 Ways to Raise Your Credit Score - And Fast
Purchasing a home can feel overwhelming for buyers no matter how many times they've been through the process. And today, your credit score is more important than ever when it comes to your ability to buy the home you really want. If you are looking to improve your credit score, now is the perfect time to get started. Here are some great strategies you can utilize right away to give your score a little boost. And check out the accompanying video with Linda Ferrari from Credit Resource Corporation for even more details.
Create Some Balance: While paying down installment debt (car, school, mortgage, etc.) will definitely boost your credit score, paying down or paying off revolving debt, such as credit cards, can cause a quick jump in your credit score. The trick is to get and keep your balances below 30% of your credit limit on each card. For faster results, attack those cards with balances closer to their respective credit limits first, as opposed to those cards with simply the highest debt. Remember, if you pay off any credit cards completely, do not close your accounts without discussing it with your mortgage professional first. Cancelling those cards may inadvertently undo all of your hard work.
Know Your Limits: Make sure that your credit card issuers are reporting the correct limits on your accounts to the three major credit bureaus. Without an available limit, your account will appear to be maxed out at its highest reported balance each month. This could cost you up to 80 points in certain instances. Some creditors, such as American Express® and certain cards issued by Capital One®, actually have a policy of not reporting available credit. However, most companies will report your credit limits if you ask them in writing.
Take Some Credit: If you have a credit card account in very good standing, make sure that all three credit bureaus know about it. Just like your credit limits, some creditors don't report your information to all three credit companies – this is why credit scores often vary between bureaus. If this is the case, give them a call to find out why. Correcting this oversight could provide a significant boost to your score. Also, if you're in very good standing, ask your creditor for a lower rate or higher credit limit. This will increase the gap in the debt you owe versus the credit you have available. Sometimes hinting about closing an account can suddenly bring out the generous spirit of certain card issuers. Give it a try. The worst they can say is no.
Protect Your Interests: Your credit is calculated based solely on the information available to your creditors. If you have a HELOC, make sure it's listed as a mortgage or an installment account on your credit reports and not a revolving debt. If you had a bankruptcy, be sure that all items associated with the bankruptcy are being reported correctly, that is with a zero balance. This action could increase your score by 50-100 points. Because simple mistakes like these can wreak havoc on your credit score, it's important to monitor your credit every four to six months.
Even the Score: If you find information on your credit report that you believe is inaccurate or incomplete, then you have the right to dispute it free of charge. For the fastest results, visit the appropriate credit bureau's website and file a complaint online. If supporting documents are necessary, you have to file your dispute by mail. With just a little bit of effort, you could be well on your way to a higher credit score...and to owning the home of your dreams!
Copyright 2009 All About News, Inc. & You Magazine
Thursday, July 16, 2009
Wednesday, July 1, 2009
Florida's quality of life means 'home sweet home'
Florida’s qualify of life means ‘home sweet home,’ says FAR
ORLANDO, Fla., July 1, 2009 – What does Florida have to offer? Pick up a travel brochure and some benefits are clear: Beautiful beaches. Miles of scenic parks and nature preserves. Oceans, rivers and lakes offering boating, fishing, swimming and other water recreation. A rich and varied history, which includes the city of St. Augustine, the oldest permanent European settlement in the mainland United States. Unique entertainment parks and other family-friendly attractions. Cultural activities that offer residents and visitors fine theater, music, dance and arts events. Then there is Florida’s climate featuring an average annual high of 81 degrees Fahrenheit and an average annual low of 60 degrees, giving the Sunshine State its well-known nickname and reputation.
“Florida is a great place to live and I feel privileged to call it home,” said 2009 Florida Association of Realtors® (FAR) President Cynthia Shelton. “There is so much to see, to experience and to enjoy in Florida, from the distinctive white sugar sand beaches of Destin in the north, to the family fun offered by Orlando’s theme parks and attractions, to the leisurely, laid-back lifestyle in the Keys. Whatever you like to do, you’ll find it here in Florida. We have visitors coming here from around the world to vacation in Florida. But they only get to sample what Florida offers for a brief time; when you’re lucky enough to be a Florida homeowner, there’s no end to the possibilities!”
State officials, Florida Realtors® and business recruiters agree: Florida’s unique quality of life is one of the state’s best assets. Enterprise Florida, a public-private partnership devoted to statewide economic development, notes on its Web site (http://www.eflorida.com) many of the amenities found in the Sunshine State.
• Florida beaches were awarded more top 10 spots than any other state, including the No. 1 beach in the U.S., Caladesi Island State Park, on America’s Best Beaches list for 2008. This internationally recognized ranking by Dr. Stephen P. Leatherman (aka Dr. Beach) is based on 50 criteria including number of sunny days, sand softness, algae and pollution content, safety record, and more. Leatherman is a Ph.D. coastal scientist, professor of environmental studies and director of the Laboratory for Coastal Research at Florida International University in Miami.
• The state’s park system, one of the largest in the U.S., has 160 parks covering more than 700,000 acres and 100 miles of Florida’s beaches. • Seven of Relocate-America’s Top 100 Places to Live in 2008 were Florida cities, including one, Flagler Beach, which was named to the Top 10. These rankings attest to Florida’s high quality of life, and are based on a combination of economic data and feedback from people who live in each area.
• In many ways, Florida’s cost of living is below that of other states with similar economic growth and in-migration rates. For example, the state’s homeownership rate currently stands at about 70 percent, well above the national average. And, with data from the Florida Association of Realtors showing that $187,800 was the statewide median price for an existing home at year-end 2008, housing prices compare well to other similar states.
• Noted for its outstanding statewide system of trails, Florida was named the Best Trails State in America, winning the biennial National Trails Award in this past November from the national nonprofit organization American Trails.
• Five Florida universities were named to the Best Values in Public Colleges list for 2009 by Kiplinger’s Personal Finance. The schools are University of Florida, ranking No. 2 in the nation; New College of Florida, No. 8; Florida State University, No. 17; University of Central Florida, No. 42; and the University of South Florida, No. 75. Among other criteria, these rankings recognize schools with top academics and affordable costs.
© 2009 FLORIDA ASSOCIATION OF REALTORS
ORLANDO, Fla., July 1, 2009 – What does Florida have to offer? Pick up a travel brochure and some benefits are clear: Beautiful beaches. Miles of scenic parks and nature preserves. Oceans, rivers and lakes offering boating, fishing, swimming and other water recreation. A rich and varied history, which includes the city of St. Augustine, the oldest permanent European settlement in the mainland United States. Unique entertainment parks and other family-friendly attractions. Cultural activities that offer residents and visitors fine theater, music, dance and arts events. Then there is Florida’s climate featuring an average annual high of 81 degrees Fahrenheit and an average annual low of 60 degrees, giving the Sunshine State its well-known nickname and reputation.
“Florida is a great place to live and I feel privileged to call it home,” said 2009 Florida Association of Realtors® (FAR) President Cynthia Shelton. “There is so much to see, to experience and to enjoy in Florida, from the distinctive white sugar sand beaches of Destin in the north, to the family fun offered by Orlando’s theme parks and attractions, to the leisurely, laid-back lifestyle in the Keys. Whatever you like to do, you’ll find it here in Florida. We have visitors coming here from around the world to vacation in Florida. But they only get to sample what Florida offers for a brief time; when you’re lucky enough to be a Florida homeowner, there’s no end to the possibilities!”
State officials, Florida Realtors® and business recruiters agree: Florida’s unique quality of life is one of the state’s best assets. Enterprise Florida, a public-private partnership devoted to statewide economic development, notes on its Web site (http://www.eflorida.com) many of the amenities found in the Sunshine State.
• Florida beaches were awarded more top 10 spots than any other state, including the No. 1 beach in the U.S., Caladesi Island State Park, on America’s Best Beaches list for 2008. This internationally recognized ranking by Dr. Stephen P. Leatherman (aka Dr. Beach) is based on 50 criteria including number of sunny days, sand softness, algae and pollution content, safety record, and more. Leatherman is a Ph.D. coastal scientist, professor of environmental studies and director of the Laboratory for Coastal Research at Florida International University in Miami.
• The state’s park system, one of the largest in the U.S., has 160 parks covering more than 700,000 acres and 100 miles of Florida’s beaches. • Seven of Relocate-America’s Top 100 Places to Live in 2008 were Florida cities, including one, Flagler Beach, which was named to the Top 10. These rankings attest to Florida’s high quality of life, and are based on a combination of economic data and feedback from people who live in each area.
• In many ways, Florida’s cost of living is below that of other states with similar economic growth and in-migration rates. For example, the state’s homeownership rate currently stands at about 70 percent, well above the national average. And, with data from the Florida Association of Realtors showing that $187,800 was the statewide median price for an existing home at year-end 2008, housing prices compare well to other similar states.
• Noted for its outstanding statewide system of trails, Florida was named the Best Trails State in America, winning the biennial National Trails Award in this past November from the national nonprofit organization American Trails.
• Five Florida universities were named to the Best Values in Public Colleges list for 2009 by Kiplinger’s Personal Finance. The schools are University of Florida, ranking No. 2 in the nation; New College of Florida, No. 8; Florida State University, No. 17; University of Central Florida, No. 42; and the University of South Florida, No. 75. Among other criteria, these rankings recognize schools with top academics and affordable costs.
© 2009 FLORIDA ASSOCIATION OF REALTORS
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