jeffturley

During the past few months of mortgage turbulence I have come to believe your credit score is and will be one of the most power financial tools at your disposal. I am committed to helping my clients understand and manage their credit scores. I am not a credit counselor, although recently we partnered with a software company which will allow us to give you a strategic plan to increase your credit score anywhere from 1 to 100 points. With this tool we can, with 90% accuracy, show you how to increase your credit score. If you would like to inquire further about this please email or give me a call.

5 Significant Perspectives from Resolve Lending, Inc. concerning Credit Scores

#1 30% Revolving Debt is King Keep your available revolving credit debt (all credit cards) at 30% of what is allowed. For example if you have a $10,000 line of credit, keep your credit debt at $3,000 or less.

#2 HELOC (Home Equity Lines of Credit) are included in your revolving credit. Make sure you keep your Home Equity Line of Credit low or you might want to think about switching to a “fixed 2nd mortgage” not a Home Equity Line if your credit score is struggling.

#3 Make your Mortgage Payment First! This might sound simple but many don’t understand the weight your mortgage payment has upon your next mortgage. The next mortgage you get is built upon “perfect mortgage payment history” not perfect credit card payments.

#4 4 Trade Lines available The goal should be to always have 4 trade lines of active revolving credit with 30% or less available. This can include gas cards, Nordstrom cards and other credit cards. The three credit bureaus want to see that people can manage debt.

#5 Give your kids a gift Start now by teaching your kids how to manage credit; it is a powerful tool. It is amazing how many parents shield their children from credit, viewing it as evil. Remember revolving debt is free if managed correctly. Most importantly our entire financial system is built upon it and our children need to understand the mechanics in order to succeed. Why not start mentoring them at an early age?

Resolve Lending, Inc. has had a great year with increased revenue over last year. We stand in a great position to leverage these difficult times. It is essential to understand a “Mortgage Broker” is uniquely different than the Mortgage Bank (email or call with questions). We believe in an ever-changing market the “mortgage broker” is exceedingly more important in order to navigate the storms of our industry.

And yes, we still have great programs and rates on:

• Construction Loans
• Stated Income Loans
• Jumbo Loans $417,000 or higher
• Commercial
• 30-year fixed (rates have been falling)

Please feel free to pass this valuable information along to friends and family.

Thanks,

Jeff