Improve Your Credit in 2012

With only days until the world rings in 2012, perhaps it's time to focus on improving or building
your credit history!

Here are a few simple ways to improve your beacon score so you can purchase that home or
car you hope to buy one day:

1) Apply for a Secured Credit Card.
    -applying for a credit card with a low limit of $200-$500, making scheduled monthly
     payments and keeping your balance at no more than 70% of the limit will help you to
     establish a health credit history.  Stay disciplined.  Interest rates and fees can be high
     on these cards, but before you know it (12-18 months) you will likely see signs of
     credit improvement.

2) Pay Rent and Utilities on Time.
    -many individuals do not realize the importance of paying rent and utilities on time. 
     Believe it or not, if you miss rent or utility payments, it will be report to credit bureau
     agencies.

3) Limit Credit Inquiries.
    -before purchasing a car, home, retail credit card, cell phone service, etc...be sure
     you are 100% positive you are ready to take that step.  The more credit inquiries
     you have, the more your beacon score will decline.  As a mortgage broker, I always
     make sure my clients are 100% ready to purchase or refinance before pulling their
     credit.  Thinking you might be ready isn't good enough reason.

4) Avoid Collection Agencies.
    -even small unpaid bills that go to collection agencies will affect your credit.  You are
     better off to pay an account balance in question, than to leave it.  Don't think you
     owe that $25 to your local video store?  Pay the bill and fight the charges afterwards. 
     Avoiding little blemishes to credit can go a long way in building a healthy credit history.

5) Check Credit History Annually.
    -it is always a great idea to check your credit history on an annual basis.  Mistakes do
     happen from time-to-time, and checking for errors on your credit report will allow you
     to rectify issues quickly.  Consumers are denied credit every day because of small error
     on credit reports.  It is also a great way to monitor and track the progress you are making
     on building your credit.

Check your credit report today by visiting Equifax or TransUnion.

Shopping Savings This Holiday Season

Refinancing and consolidating debt has been hot in the mortgage industry this fall!  Everyone, it seems, is looking for ways to lighten their debt-load and stretch their dollars as much as possible. 

Since Christmas really is just around the corner, I decided to do some research on where to find great deals this season.  How best to save money than to look for freebies and coupons.  I'm sure you've seen a few popular coupon sites pop up in the past few months (eg. Groupon.com, LivingSocial.com).  Well here is a list of many more such sites that offer daily specials in Calgary and area.  Just sign up at each site and receive daily emails  I've already found great deals for Christmas, maybe you will too!

www.wagjag.com
www.groupon.com/calgary
www.dealfind.com/calgary
www.dealoftheday.redflagdeals.com/deal/calgary
www.teambuy.ca/calgary
www.stealthedeal.com/calgary

http://calgary.flyerland.ca/
http://livingsocial.com
http://www.simplyfrugal.ca/

http://goodnews.com
http://clyqit.com/calgary
http://onespout.com
http://www.dealzies.ca/



Happy shopping!

What Can A Mortgage Professional Do For You?

With the numerous benefits involved in working with a mortgage professional, it is interesting to me that so many individuals still have no idea what it is they do.

A mortgage professional works on your behalf to find the very best rates available to suit your specific situation.  A huge percentage of the population is content to take whatever interest rates their financial institution is willing to offer without even considering there may be a better rate out there for them.  Did you know a mortgage professional will almost always be able to get a better rate?  Why, you ask?  It's simple, really.  The mortgage associate/broker does a large volume of mortgage deals each month and lenders are willing to offer them volume discounts and the ability to buy down interest rates.  The savings to a consumer can be quite substantial. 

Finding the best rate is a mortgage professional's primary focus and the best part is that in most cases you do not pay him/her for services rendered.  A mortgage associate/broker is paid directly by the lender. 

Next time you are in the position to buy a new house, refinance, consolidate or purchase investment property, a mortgage professional could be your closest ally!