Wednesday, February 18, 2015
Monday, August 11, 2014
Study: Rental Payment History Can Help Boosts Credit Scores
This is an great article out of the Realtor Online Magazine. If you have a good rental history it can help you out with your credit score... If you have any questions please feel free to contact us here at www.MilitaryRelocationConnection.com
The addition of rental payment data to credit files may help more potential renters become home owners.
Experian became the first credit reporting agency to add on-time rental payments to its database. It recently conducted an analysis to determine how the added rental information has aided consumers’ credit files.
For the previous unscoreable, adding the rental data has now allowed them to have a credit score, with the majority now falling in the least risky prime category too, Experian’s analysis shows.The study found that subprime and nonprime residents saw the greatest positive score impact by the addition of rental histories. Nineteen percent of the study participants that were considered subprime moved to at least one higher – or less risky – risk segment by the addition, opening them up to more affordable credit and additional credit opportunities, the study noted.
“Consumer financing rapidly changed during the economic upheaval, and regulatory changes forced lenders to tighten the standards for the underwriting process,” says Genevieve Juillard, president of Experian Consumer Information Services. “This excluded many Americans from the opportunity to attain credit due to a limited or no credit history. Residents who pay their rent on time month after month should be rewarded and not overlooked simply because they rent instead of own the place they call home.”
Source: Experian
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Wednesday, August 6, 2014
Budgeting Basics for Homeowners
I believe when you are going to own a home there are so many things you have to watch and one is you really have to budget. Although most people really have to tighten their belts so to speak, it is well worth it. So this article was sent to me by Pillar to Post Home Inspecitons, please take to read it and if you have any questions please feel free to get in touch with us at www.MilitaryRCN.com
A new home often means making significant adjustments to how you spend your money. Expenses such as mortgage payments, property taxes, insurance, utilities, and maintenance add up quickly and can easily throw your best financial intentions out of whack. Creating and following a budget is a great way to make sure you stay on track while cutting down on financial stress at the same time.
Having a budget gives you a roadmap for your financial needs and goals. Yes, your monthly home-related expenses need to be met, but you’ll also need to consider much more: food, clothing, education, healthcare, transportation, and savings for both retirement and emergency expenses.
As a homeowner, you’ll definitely have unexpected costs that arise at inconvenient times – the water heater needs replacing, or the roof needs repair right away. Having a way to cover these expenses is critical not only to your home but to your peace of mind.
Start your budget planning by examining your income against your expenses. First, list your monthly income – your take-home pay if you get a paycheck, self-employment income, and any other outside sources of income. This amount will form the basis of your budget.
Next, make a list of your monthly fixed expenses. These include the mortgage payment, insurance, phone and internet service, trash collection, automobile payments, etc. For expenses that are typically billed less frequently, such as property taxes, insurance, and school tuition, divide the total yearly amount by 12. Fluctuating costs such as gas and electric bills can be averaged to a monthly total and added to this list as well. If you carry credit card balances, you’ll need to factor in those payments, too. Importantly, savings should be considered fixed expenses – making this commitment to your future will pay off, literally, in the years to come.
Now you can list your variable expenses. These are expenses over which you have some control: food, clothing, cable or satellite TV, gasoline, entertainment, gym memberships, and even haircuts are some typical examples. Track these expenses for a few months so that you’ll have accurate numbers to work with. It’s very important to be realistic about what you currently spend, because once you’ve come up with your overall expense budget you may need to look for reductions in these variable items.
Add your fixed and variable expenses together and compare them to your monthly income. If your income is enough to cover everything, you can still look for ways to budget in your favor. Reducing some variable expenses and shifting the difference into savings, for example, is a great way to boost your financial situation without making major changes.
And if expenses exceed income? If an increase in income isn’t on the horizon, you’ll need to reduce your expenses so that they’re in line with what you can actually afford. First, go to your list of variable expenses and closely consider each line item. Do you really need that upper-tier cable TV package? Can you prepare more meals at home? Go to the movies less often? Reducing expenses in these categories can really add up on a monthly basis.
If reducing your variable costs still isn’t enough, you’ll need to look at your fixed expenses. Consider trading down to a car with payments you can afford and raising the deductibles on your home and auto insurance. Check into cheaper plans for your cell phones. The differences can be significant over the course of a year.
No matter how carefully you plan your budget, it won’t work if you don’t stick to it. Use personal finance software to track your budget, and continue to make adjustments over time. By keeping to your budget, you’ll come out ahead and sleep better at night, too.
Thanks for stopping by today and please take time to take a look at our blog again tomorrow.
Wednesday, June 25, 2014
Add the KW App to your phone for a great home search tool!!!!
Friday, June 20, 2014
Introducing our newest Realtor, Jim Muscatell
The Military Relocation Connection Network is happy to announce it's newest Realtor from the state of Washington, Jim Muscatell. So here in his own words is a little about him.
I retired from the military as a
Brigadier General after 35 years and we returned home to Puyallup Washington. I started the next chapter of my life as a
Real Estate Agent with Gateway. My wife
is an interior decorator and offering free staging advice for my listings
through 2014.
People are my passion! As a servant
leader I led thousands in the military.
Now I continue serving others by helping them accomplish their real estate
dreams. I promise the highest level of
customer service while assisting you in achieving your real estate goals. We commit to treat your dream as if it was
our own.
The most important part of my job is
to listen carefully to your wants and needs. I promise to always communicate
and promptly return your text, calls and emails.
On my website you can search MLS
listings, get the latest Real Estate news and even explore bank owned
properties in Puyallup, Spanaway, Graham, Lakewood and Bonney Lake/Lake Tapps.
Sincerely,
Jim Muscatell Real Estate Broker
Phone: 253-254-8547
Email: Jim.Muscatell@gatewayre.com
Website: JimMuscatell.com
Facebook: www.facebook.com/jimmuscatellreator
Monday, June 16, 2014
New Listing in Clayton, New York
This new listing is presented by our Realtor in New York, Melanie Curley. Melanie sevices the Fort Drum military base. She has been with the Military Relocation Connection Network since the beginning when we first started in 2009. Please take a look at her new listing in Clayton New York. Just click on the picture and it will give you a virtual tour.
Here at the Military Relocation Connection we can help you from your current station to your next station. Please contact with any Relocation questions you may have.
Aloha from Hawaii, where this beautiful home is for sale
Good Afternoon Everyone. Our Realtor located in Hawaii, Wanda Ortiz Thayne has a great new listing that I would like to share with you. You can click on the picture and take a tour. If have a PCS move to Hawaii please call Wanda, she will take care of you. If you have any other Real Estate needs anywhere in the country please contact us here at the Military Relocation Connection Network and let us help you.
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