Tips and Tricks

Credit Cards:

Tips for keeping your control on your credit cards:

1. Needs and Wants! Know the difference! To lower your monthly expenses; avoid purchases you can do without!
2. You should know what those purchases Really cost! If you do not pay off your purchase right away, you should know that with the interest on a credit card; your purchase will cost more than its purchase price. Also keep in mind that the interest on credit cards can be quiet high!
3. You should never borrow more than 20% of your annual net income. Also never let your monthly debt payments for credit cards be more than 10%of your monthly income.
4. Remember to try and pay more than your minimum payment. The low monthly payments are designed for your convenience, but not for a quick pay off on your cards. Also the longer you carry a balance the more interest you pay.
5. Try not to have your card reach its spending limit. You may need the resource in case of a emergency. Also your credit score does better if you have not reached your limit, and that you pay on time.

Check your credit Report for Accuracy:

Its a good idea to check your credit report at lest once a year for accuracy. If you find any discrepancies you can dispute the discrepancy. You need to do this to protect yourself and your credit. You can write to the 3 credit bureaus or log in on their site. You can dispute on line or in writing.


Equifax
PO Box 105873
Atlanta GA 30348
Report Order: 1-800-685-1111
Fraud Hotline: 1-800-525-6285
http://www.equifax.com


Experian
PO Box 2104
Allen TX 75013-2104
Report Order: 1-888-397-3742
Fraud Hotline: 1-888-397-3742
http://www.experian.com


Trans Union
PO Box 390
Springfield PA 19064-0390
Report Order: 1-800-888-4213
Fraud Hotline: 1-800-680-7289
http://www.tuc.com

Warning Signs of Financial Difficulties:

These are some warning signs that you are headed for financial difficulties. Any of these signs may mean that you are deeper in debt and need to take action. The easiest way is not to get to this point!

• Working overtime consistently or having more than one job; just to make ends meet.
• Being unable to pay your monthly bills on time.
• Receiving calls and letters from collections.
• Tapping into your savings to pay for normal living expenses.
• Borrowing money to pay other debts.
• Letting your credit cards reach their spending limits.
• Credit denial or having you card revoked.

If you are having any of these issues you need to change your habits, to avoid jeopardizing your good credit history.

FHA is sympathetic to some of these issues. But if you are in deep with your financial problems; we do have a program that can help you! There by helping to fix your credit and making you credit worthy to purchase a home and obtain a FHA Mortgage!