krista bell
  • Home
  • Sell My Home!
  • Help Me Buy!
  • Real Estate Blog
  • kb Reiki
    • Animal Reiki
  • Meet Krista
    • Testimonials
  • Contact
Picture

5 Ways to Boost Your Credit Score

12/27/2014

0 Comments

 
Picture
Creating a good credit history is important if you wish to buy a new property. While bad credit can translate to a lower FICO credit score, no credit history at all or a brief one, can also lower your score.  You can build your credit over time by using a credit card responsibly and making your payments on time.

Whether your credit history is heading in the right direction or has veered off track, these tips will help you take control and improve your credit score.

1. Always pay your bills on time. Set up automatic payments from your bank account or program reminders into your phone if you have trouble keeping track of when each bill is due.

2. Keep your balances low on your credit cards and other revolving lines of credit.If your balances are currently high, begin to pay them off, starting with the card or line of credit with the highest interest rate, until you're debt free.

3. Be careful when opening new accounts.  Opening several new accounts at a time may raise red flags and lower your credit score. Similarly, closing several accounts at once may also raise red flags.

4. Limit rate shopping for a mortgage or auto loan to a small window of time (e.g., 30 days); these inquiries are treated as a single inquiry. Otherwise, multiple inquiries can count against your score. According to FICO®, people who had more than five inquiries on their credit reports may be up to eight times more likely to file for bankruptcy than those with no inquiries.

5. Always handle your credit responsibly. This may seem like a no-brainer, but remember, it takes time to repair your credit once it's damaged. And if your credit history needs improvement, it's never too late to take steps to repair it.

So, if you have followed these steps and are ready to move forward with getting your property search started by getting pre-approved, contact me today at kristabell@att.net or 619-209-9953 for more information and a list of my client-preferred lenders.

Thanks to Buffini and LGK Reports for this information.

0 Comments

3 Reasons Why You Don't Need a Credit Repair Company

12/27/2014

0 Comments

 
Picture
The Federal Trade Commission encourages consumers to be cautious about companies that promise to repair your credit and remove negative information for a fee, so before using companies such as this, please bear in mind:

   1)  No one can change negative information which has been reported correctly.
   2)  The only way to remove accurate negative information from your file is to wait until the     
          legal time period has expired (see chart below).
   3)  You can repair your credit yourself for free by using sound credit practices.

  If you have had ___ It will stay on your credit report ___:
     + Late payments:  7 years
     + Judgments:  7 years
     + A short sale: 7 years
     + A foreclosure:  7 years
     + Chapter 13 bankruptcy:  7 years from filing date
     + Tax liens:  Until lien is paid in full, plus 7 years (though they may remain indefinitely)
     + Chapter 7 bankruptcy:  10 years from filing date

If you have questions about your credit, or need a referral to my preferred lender - whom my clients have used, loved, and is sure to knock your socks off, contact me via email or (619) 209-9953 today!

Warm regards,
Krista Bell, REALTOR
(629) 209 -9953


*Source: Nabil Captan, The Credit DVD
0 Comments

What's Your Number?

12/27/2014

0 Comments

 
Picture
What's Your Number?  The Facts about Credit

This information focuses on helping you start your journey into homeownership, which begins with getting a pre-approval letter for financing from your lender (or I can refer you to a top-notch lender, who works with many of my clients) - if you need a loan to purchase a home.

Your credit score is one of the most important numbers you have. Not only does your score affect your interest rates when applying for a loan, it can also impact your insurance rates, certain job prospects and even your chances of renting a great apartment. Because of this, improving one's credit has become a multi-million dollar industry.

What's your credit score?
Your credit score indicates to lenders and other businesses how much of a credit risk you pose if they allow you to borrow money. The Fair Isaac Company (FICO®) uses an algorithm that takes into account 30 different factors within your credit report to arrive at a score from 300-850. The higher the score, the better the credit risk you are to lenders.

Other credit reporting agencies, such as Experian, Equifax and TransUnion, calculate their own credit scores within their own ranges; however, the FICO® score is the standard that lenders use when they pull your credit score.

Visit www.nabilcaptan.com for more information about taking control of your credit.

How is your credit score calculated?
    - 35% Payment history
    - 30% Amounts owed
    - 15% Credit history
    - 10% Inquiries, new credit lines
    - 10% Types of credit in use

How long will dings to your credit be held against you?  
In most cases, it's only a matter of time before they fall off your credit report. The good news is that the older the negative information, the less it impacts your credit score.

If you have had ___ It will stay on your credit report ___
   - Late payments:  7 years
   - Judgments:  7 years
   - A short sale:  7 years
   - A foreclosure:  7 years
   - Chapter 13 bankruptcy:  7 years from filing date remain indefinitely)
   - Chapter 7 bankruptcy:  10 years from filing date

I look forward to discussing your particular real estate goals soon!  Contact me via email or (619) 209-9953.  

Warm regards,
Krista Bell, REALTOR®

(619) 209 9953

kristabell@att.net

*Source: Nabil Captan, The Credit DVD
0 Comments

    Archives

    November 2018
    March 2018
    November 2017
    September 2017
    August 2017
    July 2017
    June 2017
    May 2017
    April 2017
    March 2017
    December 2016
    November 2016
    October 2016
    September 2016
    July 2016
    June 2016
    May 2016
    April 2016
    March 2016
    February 2016
    January 2016
    November 2015
    October 2015
    August 2015
    July 2015
    June 2015
    May 2015
    April 2015
    March 2015
    February 2015
    December 2014

    Categories

    All
    Allied Gardens
    Appraisal Process
    Award Winner
    Back On The Market
    Bankers Hill
    Beach Condos
    Being Happy During The Real Estate Procress
    Benefits Of Selling In Winter
    Best San Diego Agent
    Birdrock
    Buyer Costs
    Buyer Tips
    Buy Your Property For The Best Price
    CA
    Cash Flow
    Clairemont
    Coastal Living
    Coming Soon
    Credit Repair
    Credit Rules 101
    Credit Score
    Del Cerro
    Downtown
    El Cajon
    FHA Approved!
    FICO
    First Time Homebuyer
    First Time Homebuyers
    FSBO's
    Get The Home You Want!
    Get Your Property SOLD
    Gratitude
    Home Buying
    Home Decor
    Homeownership
    Homes For Sale
    Improving Credit
    Increase Your Happiness
    Investment Property
    Just Reduced!
    Lighting
    Linda Vista
    Low Cost Renovations To Maximize Profit
    Low-cost-ways-to-sell-for-more-money
    Low Cost Ways To Sell Home For More Money
    Luxury Sales
    Maximizing Profits
    Military Movers
    Mira Mesa
    Mission Valley
    Multiple Offers
    Multiple Units
    New Listings
    Normal Heights
    North Pacific Beach
    Not Yet On The Market
    Ocean Beach
    Ocean View
    Offer Accepted
    Open House
    Pacific Beach
    Pending!
    Pine Valley
    Point Loma
    Preparing For The Sale
    Press Releases
    Private Viewings Only
    Rainbow
    Rancho Penasquitos
    Recent Sales
    Record Setting!
    Rentals
    San Diego Homebuying
    Seller
    Seller Tips
    Selling A Home
    Stress Less During Homebuying
    Stress Less Selling Your Property
    Townhome
    Travel Inspiration
    University City
    University Heights
    VA Approved!

    RSS Feed

krista bell, REALTOR®
direct:  (619) 209-9953
dre#:  01874872
email:  
kristabell@att.net

​Owners.com
San Diego, CA 92104
Picture
Owners.com® puts the power of buying a new ​home in your hands. Download our app today:  Owners.app.link/app
Picture
Krista Bell, REALTORĀ®
  • Home
  • Sell My Home!
  • Help Me Buy!
  • Real Estate Blog
  • kb Reiki
    • Animal Reiki
  • Meet Krista
    • Testimonials
  • Contact