Archive for July, 2015

WHEN TO BUY?

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English: Christmas postcard picture with Santa...

English: Christmas postcard picture with Santa Claus and holly, with message, “I bring you a Merry Xmas from” (Photo credit: Wikipedia)

The answer is simple but counter intuitive.

Between Thanksgiving and Xmas.

WHY!!!

The First Thanksgiving, painting by Jean Louis...

The First Thanksgiving, painting by Jean Louis Gerome Ferris (Photo credit: Wikipedia)

Because. There is less competition. Fewer potential Buyers are active during this extended holiday period.

Because. There are fewer properties for sale but they are all highly motivated. No-one would want strangers wandering through their homes at this time.

Because. Sellers will be concerned when there are few showings due to fewer Buyers, and will be more willing to negotiate.

FICO TRUTHS

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FICO logo

FICO logo (Photo credit: Wikipedia)

Whenever you apply for Credit for any of the 5 standard purposes the Lender will require a FICO report. This will be different for each category:

1. Mortgage – Most complete.

2. Auto – Next most complete.

3. Credit Card – Next most complete.

4.Personal loans – Next most complete.

5. Installment loans – Least complete.

Each will give a different FICO Score, Lowest for a mortgage, and highest for the Installment loan.

DO NOT CONFUSE ANY OF THESE WITH THE “FREE” Credit Reports you can get from all 3 of the major Credit BureausĀ (EQUIFAX, EXPERIAN and TRANS UNION).

THESE ARE NOT FICO REPORTS and are of no practical use to anyone but you.

Factors contributing to someone's credit score...

Factors contributing to someone’s credit score, for Credit score (United States). (Photo credit: Wikipedia)