Financing Tips

10 Things You Should Not Do When Buying A Home

Even when you have great credit, there are things you can do to make lenders think twice about approving your mortgage loan.

Most people focus on the initial credit check when applying for a mortgage loan, but that’s only the pre-approval stage; as the bank underwriters scrutinize your history they’ll ask for updated financial, employment and credit information. There are plenty of things you should not do until you go to settlement;

1.Don’t change your job before applying for a home loan. Along with that, now is not the right time to become self-employed or quit your job. You want to show […]

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Miss a bill payment and you’re screwed for a mortgage!

There are some very important changes to the Credit Reporting Privacy Code 2004 that have just been announced by the Privacy Commissioner. These changes relate to how a consumers credit rating is reported.

In the past your credit rating was simply reported negatively if you had a loan, you didn’t make your payments on time and it was sent to a debt collection agency.

As of April 2012 that is changing.

In a nut shell, all monthly credit payments will now be reported on. Below is an excerpt from the announcement from the Privacy Commissioner.

In six months time, whether people pay their […]

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Your Retirement Home in Northcote May Be a Good Nest Egg With Some Strategic Planning

In the recent downturn of the economy, many homes nationwide as well as homes in Northcote have taken a dive in value since 2007. As a result, they may not be the nest eggs that potential retirees were hoping for. Now, retirees need to know their options and what to do with their homes in Northcote.

If you find yourself in this predicament and aren’t sure what to do, speak with your financial expert and review the following options for your financial future so that you can retire on time — […]

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4 Ways to Help Your Child Buy North Shore Real Estate

You know that you can lend money to your child to help him or her buy North Shore real estate. But you’d like to explore some other financial arrangements to determine which option is the most advantageous for you and your child.

Here are four additional ways to help your child buy North Shore real estate:

 

 

 

1. Give the down payment as a gift.

Before deciding whether to make the money a gift or a loan, consider what moral message you may be sending. You don’t want your child to develop a sense of […]

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