Mountain Ridge Associates Guide to Applying the 50-30-20 Rule

By on April 12, 2019

Many people encounter a challenge when it comes to saving money, and the sad part is that even those with high income suffer the same problem. A budget is one of the many tools available to help control expenses, and all you need to do is identify all your incomes and expenses every month. Once you know how much you earn and how much you spend on basic and discretionary expenses, ask yourself if your budget is ideal the way it is. Ask yourself if you are spending your money in the right way and if you are saving enough based on the level of your income.

This is the place where you should make use of the 50/30/20 rule on your budget. It is a great budgeting tool that will help you categorize your expenses more ideally in classes such as needs, wants, debt and savings. So, how do you apply the 50/30/20 rule in your finances?

1. Calculate Your Net Income After Tax

Know how much you are left with after local tax, state tax, income tax, social security and Medicare deductions. This is very easy to calculate, especially of you have a steady paycheck. For the purposes of applying the 50/30/20 rule, be sure to include any retirement contributions that are automatically deducted from your paycheck, as these will need to be categorized under your savings budget.

 For the self-employed persons, you will have to subtract your business expenses from your gross income. This includes your self-employment tax payments. Mountain Ridge Associates says that if you are not sure of how or when to calculate and remit your taxes, it is advisable that you work with a reliable tax consultant. Nonpayment may result in hefty fines or even jail time.

2. Make Sure Your Needs Only Takes 50 Percent or Less of Your Income After Tax

Review your budget and identify how much your needs have been accounting for. Your needs include housing, groceries, car payment, car insurance and utility bills. Make sure the total for this category of your expenses does not exceed 50 percent of your after-tax income. When deciding this, you must be very careful in differentiating your needs and your wants to avoid confusion.

For instance, the cable bill might seem like a need, but it is a want because you can do away with it even it comes with minor inconveniences. However if you require cable to make the most of a bundle with internet and phone service, and these are required for you to work from home, this becomes a need (and a business expense). Anything that can affect the quality of your life such, as prescription medicine or food, falls under the need category. A minimum payment on a credit card is a need because if you forgo this amount, it will negatively affect your credit and fines may be levied. However, any amount you pay on top of minimum payment is not a need and you can do away with it if the 50 percent rule has been affected.

3. Make Sure Your Wants Take 30 Percent or Less of Your After-Tax Income

The grand total of everything in the ‘wants’ category should total 30 percent or less of your after-tax income. Before you get excited about going for a vacation or buying designer clothes with 30 percent provision, stop to understand what the category, ‘want’ refers to. It is not about purchasing extravagances, but rather the basic things that make your life more fun and enjoyable. For instance, expenses such as a cable bill, unlimited text message plan, streaming services or cosmetics among others. The rules may sound unfair and somehow tricky but if you want to be realistic with your budget and save more, be willing to make the sacrifice. 

4. Use the Remaining 20 Percent on Debt Repayments and Savings

This is a provision from your income after tax that will help you save money and repay your debts faster. One thing you need to know about paying debts using this 20 percent is that any minimum payment for your mortgage loan, car loan or credit card balance does not fall here; these are a need. Therefore, the payments are accounted for under the 50 percent category. However, any amount you pay beyond the minimum payment falls under the savings and debt repayment category. This is also the category where you get money to establish an emergency fund or contribute to your retirement accounts. 

Budgeting can be tricky for many people not knowing what expenses to add or reduce in the effort to try and save more or balance the budget. The 50/30/20 rule will help you to focus on perfecting you finances rather than trying to categorize individual expenses. However, depending on your circumstances such as your location, your lifestyle and level of income, you will be able to tell if the budgeting system is right for you or not. According to Mountain Ridge Associates, you should feel free to adjust some percentages on the rule to fit within your circumstances as long as you don’t go beyond with your expenses. If you are that person who does not like having a detailed budget, the 50/30/20 rule budget can be a perfect option for you.

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4 Best Investments Of 2019 You Should Know About

By on April 4, 2019

Strategic Financial Solutions

Investment decisions have always been hard for everyone in general, both established investors and newcomers. This is because every day there appears new ideas better than the previous ones. This is why any person planning on investing should conduct their study comprehensively at the particular time they plan to do so. Consulting investment and financial advisers could also help a lot as they keep tabs with all available investments, risky ones that you do not want to get into and they can also foretell what to expect in future for every specific investment. As this would cost you money for the consultation, there are a few investments that have proven worthwhile for the year 2019.

1. Investment In The Stock Market

The stock market is definitely not new in any way. This market goes far back in time and is believed to be one of the best investments of all kinds since it’s meant to go on into the future. As long as companies, organizations, and businesses are running, the stock market will always be running too. What everyone needs to learn when investing in it is the dynamics and the challenges in it. You need to study an organization or company before taking up its shares so you can understand it’s progress. In 2019, you just need to understand the new companies joining the market and would make good profits, companies applying new policies that would also earn them profits and finally what companies to stay away from investment wise.

2. Invest In The Real Estate

Just like the stock market above, real estate is an unending business, and as long as there are people in this world, the business will never stop. What you also need to understand in this business too is the new policies and which exact departments you would love to invest in. Every day, there is an increased demand for houses, and this is why this investment gets more and more profitable. Everyone would love to own their house, and no matter how high prices go to, people would go to whatever heights to see they can afford a home of their own. For instance, they would get financial support from institutions like Strategic Financial Solutions and pay back slowly through a certain given period.

3. Lending Cash To People Around You

Things have gotten tough on everyone, and this is why many people cannot make it by the money they get paid. This is why there could be a chance to lend people some of your cash just like the financial institutions do and earn some interest from them. People struggling to make ends meet wouldn’t mind whatever interest levels you ask for on your loans. What would matter most is the fact that their problems get sorted at the time of need.

4. Investing In Your Career

You might have always thought of getting employed or working in some industries would be better compared to working on your career. How about you try a new thing for the year 2019? Invests in the career you spent years studying and you would end up very successful after a few months or years experience on your resume. Cultivate on gaining experience in that career, and soon or later, you would be very significant in that field earning good cash from it.

You do not have to look for a classic and unique kind of an investment to make good investment returns for the year 2019. All you have to do is think outside the box. If you can’t think of new investments, use the same old investments ideas but try and broaden your thinking to more deeper and undiscovered ideas.

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Dutchess Partners Caution Against the Long-term Effects of Debt

By on April 2, 2019

Although debt is necessary for business or personal growth, it should be handled with great caution. Borrowing is one of the tricky areas of everyday life that require proper management to prevent them from getting out of hand. When you accumulate different debts, they are likely to exert too much pressure on you to keep up with the payments.

Eliminating debt should always be a priority to ensure that you are not trapped in the cycle of debt. If you are not able to eliminate your debt in the short term, you might need to consider options such as debt consolidation from various industry experts such as Dutchess Partners. The debt consolidation plans from Dutchess Partners offer low-interest rates enabling you to save money.

The following are six ways in which long term debt could affects you or your business negatively.

It might damage your credit score

Too much credit can inhibit you from accessing credit from other sources in the future. When calculating your credit score, one of the crucial areas that the credit bureaus check is the credit utilization ratio. This ratio indicates how much credit is available for you and how much you have already utilized.

If one has too much debt, he or she is considered to have over utilized his or her credit options. This could limit credit availability when needed. It is imperative to note that the credit scores remain low until some of the debt is repaid. This inhibits the person or business from accessing credit or other forms of financing.

It may limit your financing options

Most lenders are wary of lending to individuals with high levels of debts in their name already. The lenders, therefore, share information on how much a borrower owes them to other institutions that offer credit services.

If you have long term debt, you may not be able to access various financing options such as a mortgage or an auto loan. This is because the different lenders are likely to look at how much credit is available to you versus what you have already taken. If the debt level is too high, you are likely to be denied financing.

It may lead to a lawsuit

Although it may take quite some time before the creditor sues you, this could happen if you fail to meet your financial obligations. If one is not able to pay back his or her debt, the creditor may decide to file a lawsuit against the defaulter.

Lawsuits may take years before they are concluded, something that leads to loss of money through lost time and legal fees. The court may also find the defaulter guilty and force him or her to give up part of his or her paycheck until the debt is repaid. A lawsuit is also likely to result in poor reputation, which means that other entities might avoid doing business with you.

It can be very costly

One of the most severe consequences of debt is cost. Banks and financial institutions charge their loans based on risk. High-risk borrowers are charged high interests while low-risk borrowers are charged lesser. Someone with high levels of outstanding loans is considered a risky borrower.

Such people are offered loans at a higher cost, and this quickly accumulates the money they owe. Instead of adding loans on top of other loans, one should look at debt consolidation options that have low-interest rates. Dutchess Partners offer valuable resources in the form of low debt consolidation loans to help you enjoy a peace of mind during tough seasons.

It may cause stress and depression

Most large loans take a lot of time to pay off. They are also quite expensive due to the accumulation of interest. For you to pay them off, you will need to dedicate a lot of time and effort. During the repayment period, the borrower is likely to be under a lot of pressure to meet all obligations. This may lead to high levels of stress.

People with high stress levels are more likely to make inferior decisions and are very likely to get into more debt to relieve pressure. Exposure to stress over a prolonged period could also lead to depression or other mental health issues.

People with high levels of stress hormones in their body have a weaker body defense mechanism. This makes them vulnerable to various health complications such as high blood pressure and sleep disorders. Debt may also push the borrower into denial. This means that the borrower might start hiding from collection agencies as a coping mechanism.

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Hornet Partners Break Down the Steps for Getting Out of Debt

By on April 2, 2019

Debt can prove itself to be a burdensome load to carry if it remains unpaid for an extended period of time. Between interest rates that extend the shelf life of the loans and the principle, it can get very cumbersome making payments and not feeling like it will get paid off any time soon. This is common because there is no plan in place to get out of debt. This is primarily due to poor habits and unwise money management. If you fail to plan, you are planning to fail. Here are the various steps towards getting out of debt, as explained by the experts at Hornet Partners. 

Try to Lower Your Rates

High-interest rates on existing debt may cause it to mount and paying it off will become much more difficult. Therefore, if it is possible, you want to lower those interest rates as much as possible and as quickly as you can. In order to do so, you might need to consider a few things. First, if you have a great credit history, you may qualify for better interest rates, especially on credit cards. You should also call card issuers to ask for lower rates on balances on your credit card. This also applies to auto loans. 

If your debt is in the form of student loans, you should check out income-based repayment plans and loan consolidations at Studentloans.gov. If you have concerns regarding consolidation, Hornet Partners are an industry expert that can assist you in this regard. 

Know Your Numbers

One way you can have a concrete plan in place is to know what the amount you owe is. That way, you may have a clear idea of what you owe and what your monthly payments will be looking like. The easiest way to go about this is to total the three-year pay-off amounts on credit cards, add the monthly payments for all other debts, and you may see what you owe each month. It can be easy to get off-track and get sporadic with your monthly payments if you are not organized. 

Have A Specific Strategy in Mind

You can prioritize paying your debts in a litany of ways. Perhaps the first thing you should consider is to determine if the total monthly payment is something that you can afford until the debt is paid in full. If it is not feasible for you, a credit counseling agency should be consulted for advice. Bankruptcy can also be an option but be advised that this can have a significant effect on your credit score. That is why avenues of working out payment plans with your creditors should be prioritized. Hornet Partners has valuable information on these topics, especially in regard to strategizing debt payments. 

Something else to think about is which debt you want to pay off first. You can choose this based on what has the lowest balance or the highest interest rate. This can be dubbed your “target debt”. Paying in this kind of way is also commonly known as the “snowball method”, which has received much positive feedback. 

Have an Emergency Fund Ready

Sometimes, when you are paying debt, you may believe that there is no money at your disposal for savings. However, you should not get trapped into thinking this way. If you analyze your daily spending habits, you should be able to see that there are areas that you can make cuts. It is all a matter of discerning your wants and needs. For example, if you find yourself eating out a lot, or making monthly subscription payments for video streaming services, that’s money that can be used towards monthly payments. If you do not want to put that towards paying off debt, all that extra money can be used towards an emergency fund when there is nothing left. 

Another way to put money towards your emergency savings is to automate them. It can be hard to do it in a manual sense, but having your employer contribute a part of your paycheck to a savings account can prove to have its benefits. Ideally, you may want this to be in the 10% to 20% range. For the purposes of getting out of debt, this may be unreasonable, so you can start with a number as little as 5%. Also, be on the lookout if you happen to get a pay raise or a bonus and see if some of that money can be used for your emergency fund. 

As you can see, paying off debt can be a cumbersome process, but with smart strategizing and having a plan in place, you will be able to start making consistent payments. Eventually, the day will come where you may be able to live a debt-free life.

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The Basics of Personal Finance Explained by Lance Advisors

By on March 13, 2019

Understanding personal finance is a vital step in attaining financial freedom. Leading financial experts say that people who know how to handle their money at a younger age are more likely to be successful than those who have a nonchalant attitude. There is no way you can create wealth if you do not start by organizing your finances, and therefore, it is good to know the basics. Lance Advisors say managing your money should not be a complicated process as long as you know the things that are likely to affect the entire process. Have been having problems with organizing your personal finances? Here are a few things to note.

About earning money

Making sure that you are earning money regularly is essential. Whether you are a business owner or an employee, the flow of money into your account is what determines how long it will take to attain financial freedom. Some people earn a lot, but others have to make do with minimal earnings. However, it is your hard work that will ensure that this money continues coming in. When you lose one source of income, it is essential to create another so that the flow is not disrupted.

About saving your money

Savings will be useful when you don’t have money to spend. It is like storing food for a rainy day. Savings should be used for emergencies that cannot be covered by your regular monthly bills. When it comes to savings, nobody can dictate how much you put away every month. However, it is up to you to do the calculations so that at the end of the day, there will be enough money to carry you through when you cannot work. There are many ways to save including joining saving groups and opening savings accounts through local banks.

About Investment

For your money to grow, you have to find sources of investment. The problem with most people is that when they hear about investment, they picture large value and short-term strategies. However, as investment professionals advise, a strong investment strategy should include many diversified long-term options. You can choose from numerous methods, because some investments do not require your presence to earn money. When you are first starting out, it is good to make sure that you put your money where it cannot be lost. Things such as government bonds are an excellent way to invest your money even as you continue working. Broader investments like ETFs and Index Funds are also a low-risk and long-term investment strategy that may help build a solid foundation for the future.

About loans and debts

Loans may help you accomplish a lot of things in life, but according to Lance Advisors, loans should be handled with care. It is difficult to find one successful person who does not take loans. However, you need to know that loans require a great deal of discipline. You should use the loans wisely so that they bring you even more money. When you borrow, make sure that you pay your loans on time. Establishing good relations with lenders will give you an easier time when it comes to personal finances. Be careful not to fall deep into debt because when it becomes difficult to get out, things will not be rosy for you.

About credit cards

A credit card offers a convenient method to pay for goods. When you get your first credit card, it is always a joy. The fact that you can grow your credit rating through these cards is the icing on the cake. From the onset, make sure that you resist the urge to misuse these cards. Do not pay for things that you hardly need just because you have a card. If you are not careful, the unpaid debts on these cards can ruin your credit score and make it difficult for you to access essential financial services.

About banks and other financial institutions

Banks are the most critical institutions when it comes to personal finances. They will help you to store your money, spend it, and give you loans. For instance, when the time comes to buy a house, it is your bank that will provide you with a mortgage loan. Therefore, you need to know how to deal with the banks so that you are always in their good graces. First, you need to identify the best institutions to bank with. Go for those that have good customer relations. A good bank is one that has a vast customer base.

Lance Advisors also say that to maintain good personal finances; you need a financial coach. You need to find a source of information that will always guide you on how to invest your money. They are the experts who have vast investments and therefore, you can be sure that they know everything about finances. These coaches can either be found locally or online. Be sure to interact with people who have discipline when it comes to personal finance so that they can encourage you to save and invest as you continue working hard to earn a salary or profit from your business.

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Tips from Gladiator Lending on How to Avoid Over-Leveraging Your Personal Finances

By on February 26, 2019

Do you find that you constantly encounter more debt than what you’re able to repay? These five tips that will help to avoid over-leveraging your personal finances: 

Create a budget and stick to it

This might seem like trite and simplistic information, but there’s a reason why this tip is one of the first that’s always advised to those who wish to get a handle on their finances. 

When consumers are willing to take a hard look at how much money they realistically generate through employment or other sources, they’re forced with adjusting their lifestyle to the boundaries of their income. 

If you wish to avoid generating more debt than you can afford to pay back, then take a moment to create a realistic spending budget. But while you’re taking a look at your spending habits vs. your income, you might consider whether or not your employment revenue is enough to fund your lifestyle, especially a budgeted lifestyle. 

Create cash reserves

When consumers sit down to figure out all of their bills and living expenses, the thought of tucking a bit of “rainy day” money might not seem terribly realistic on the one hand, while seeming trite on the other hand. 

But along with budgeting, there’s a reason why creating cash reserves is also one of the most advised tips, too. Creating and maintaining cash reserves in an easy-to-access vehicle such as a savings account or a simple money market allows you to avoid debt that you can’t afford. 

Specifically, you’ll be able to literally throw money at your problems! The more cash you have in reserves, the more you’ll be prepared for those inevitable, unexpected emergencies. It’s a great feeling to know that you can call a repair person, pay for your dental emergencies, re-stock your groceries, or take care of any number of issues that might arise when you have money on hand to handle your business. 

Don’t use more than 30 percent of your credit card limit

This is a tip that takes a bit of discipline, but you’ll be glad that you followed it, and here’s why: 

Creditors assign your credit score by looking at what’s called your debt-to-income ratio. In layman’s terms, they want to see that the debt that you’re carrying isn’t equal or more than the income you’re currently generating. Ideally, carrying less debt means that you have plenty of available income to handle your finances, including, paying your credit card bills every month. 

On the other hand, carrying a heavy debt load signals to creditors that you’re either not generating enough income to pay your debts, or you’re not handling your credit responsibly. This makes creditors take action, such as increasing your interest rates, denying your requests for credit line increases, and most drastically, lowering your consumer credit score. 

Pay your revolving lines of credit on time

Speaking of increases to your interest rates and decreases of your credit scores, one way that you can avoid both outcomes is to pay your revolving lines of credit on time. Not only does this include credit cards and department store charge cards, this also includes bills such as your monthly utilities! 

That’s right – up to 35% of your credit score is determined by how well you pay your monthly bills. When you pay on time, every time, then you’ll notice an increase of your consumer credit score. This equates to lowered interest rates, and this brings your debt ratio down to figures that you can easily afford to pay without digging too deeply into your reserves. 

Don’t tie up all your liquid assets

Some consumers believe that placing all of their savings into financial products such as stocks and other investments is the wise thing to do. It’s easy to understand why some would avoid traditional savings accounts – the current interest rates on a savings account is so pathetic, consumers find that they aren’t earning anything in interest. 

But here’s the problem with tying up all of your cash in investments – they’re not easy to liquidate. There’re steps that you’ll need to take in order to liquidate investments, and you could find yourself losing money due to the volatile nature of investments. So while placing your money in investments isn’t a bad idea, it’s a good idea to keep some of your funds liquidated for emergency purposes. 

But what if you truly need a loan?

While it’s great to take steps to avoid financial difficulties in the first place, there will be inevitable instances when you just don’t have the cash on hand to handle an issue. Or you might find that the issue on hand will cost you more than what you have available in your cash reserves. 

These are instances when applying for a loan makes sense. While you’re in the process of looking for a lender, you should reach out to larger, traditional lenders such as banks. But if you don’t want to work with a bank, then there are options available to you such as smaller financial lenders. Smaller lenders such as Gladiator Lending might be able to offer you assistance that a traditional bank wouldn’t offer. 

Whether you apply for a loan through Gladiator Lending or elsewhere, be mindful that loan terms and rates differ depending upon the lender’s terms. Do your research so that you can be approved for the best loan you can afford to repay.

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What Happens to Shared Loan Debt When You Get Divorced?

By on February 16, 2019

If you find yourself in a situation where you can’t resolve your differences with your spouse, you may have to get a divorce. Getting a divorce can be quite emotionally distressing and can end up costing a lot of money. The best thing a person can do if they think they are going to get a divorce, is to obtain representation from a reputable attorney in the area. If you live in the Tampa area, locating a Tampa divorce attorney that has a great track record in court would be the first step to take. 

Advantages of a Divorce Attorney 


Utilizing a Tampa divorce attorney for representation is going to be a better option than dealing with a lawyer that doesn’t specialize. A divorce attorney is going to have an advantage, simply based on the volume of divorce cases they have been a part of. Divorce attorneys also have a much greater likelihood of knowing the judges in these types of cases, which can end up paying great dividends in the end. Getting a divorce can be a very confusing time, as each party is generally confused when it comes to dividing assets and debt. Most people are aware of the fact that when two people get a divorce, the assets and belongings they jointly own are going to be divided up between the two parties. However, the vast majority of people also have some sort of debt attached to their names. This may be in the form of student debt, credit card debt, or any other type of debt that may have added up over time. This debt is also to be split between the two parties, much in the same way that assets are divided up between the parties. The only exception to this case would be if the two individuals had signed a prenuptial agreement before getting married. This would essentially protect the assets and debts of each individual before the marriage, which the court would defer back to in the case of a divorce. 

Splitting up Loan Debt 


Each and every case is different and will be handled by the court accordingly, but you can generally expect that debts will be split up between the two parties in a variety of different ways. One party may have to take on the debt in a certain area, while the other party may absorb debt in another area. There are also specifications that deal with debt terms, which may bring in another set of variables to be considered by the court. An individual loan debt may be more or less burdensome than other types of loan debt that are shared between the two parties, which is one reason why loan debt needs to be worked out in the court. The two sides and their lawyers will attempt to negotiate and divide the debt amounts up in a way that is fair to both parties. 

Success in Court 


Dividing up loan debt is something that can inevitably have a huge impact on your financial future, which is why it is so important to hire a great lawyer. An attorney that knows what they’re doing will help you to minimize the amount of debt that you absorb in your divorce. At the same time, a great negotiator in the form of an attorney will likely help to smooth out the process and decrease the amount of time that is spent in court. Court fees can add up quickly if both sides are not able to come to an agreement, so make sure you do your research and locate an attorney that can represent you well in court. 

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The Benefits Of Providing Affordable Homeloans To Potential Homeowners

By on February 9, 2019

Everyone wants to own a home, and while some people may afford to buy one with their own savings, others can only rely on mortgage loans to own a home. Unfortunately, there those people whose incomes cannot allow them to access these loans either. As a lender you can consider such people and while lending to people with high incomes prepares alternative affordable loans for low-income earners. Affordable does not mean that they will not pay for the loans or they will be charged less than others but their repayment periods can be longer so that they can pay little by little until the full amount is cleared. However, other factors that qualify one to get a loan such credit history or credit score must be considered. Here are some of the reasons why you should start providing affordable home loans for potential homeowners.

CHENOA-FUND

Low-Price Selling Can Increase Your Profitability

Buying a home is expensive, and since not everyone will afford to buy one, you can decide to provide alternative affordable home loans to low-income earners as long as they qualify to get these loans. Selling affordable loans means that you are likely to attract customers who could not have afforded the expensive home loans. While selling highly-priced loans can increase your profitability, selling more low-priced loans can also bring the same results at the end of the day. For instance, you can have 100 clients buying the highly priced loans each bringing a profit $1000 and also 200 potential homeowners who want to buy low-priced loans each bringing a profit of $400. In the first scenario, you will earn a total of $100,000, and in the second one, you will earn a total of $80,000. The thing is, if you only considered having the highly priced loan, you would only earn a total $100,000 but now together with the affordable loans you have a total of $180,000. All you need to do is ensure that all the borrowers are qualified for the loans they apply for.

You Can Reduce The Risk

Many people would not consider providing loans to low-income earners because they fear that they might not repay the loans. However, just like the Chenoa Fund Loans you only need to have a properly prepared and managed payment plan and better risk management practices. Usually, mortgage loan providers require a borrower to pay a down payment of 20 percent and then the rest is paid as a loan. If you are considering providing affordable home loan you can lower the down payment to around 15 or 10 percent depending on how you evaluate the borrower. This a big risk you are taking and to ensure that you do not end up losing your money, ask the borrower to use the property you are selling to them as collateral. When the borrower pledges his home as collateral, you are safe because you have the permission to put a lien on this home for foreclosure when necessary. In this case, both the lender and the borrower benefit by getting what they want.

Builds Reputation

Everyone loves working with people who are considerate and while business is a bit serious to value consideration, being able to consider low-income earners will attract more people to your business. Even the people who can afford highly-priced loans will be happy to work with you and also refer more business to you. When more people can own a home because you decided to provide alternative affordable home loans, it’s a guarantee you are building your reputation out there. That is why companies such as Chenoa fund says that every American deserves to have a home and having affordable home loans can help to make this happen and everyone ought to love this consideration. However, you must be able to avoid issues such as auctioning clients because of poor loan approvals or losses because of unrecoverable loans.

Everyone wants to own a home, and you as a home loans provider can make this happen by providing affordable loans for low-income earners as long as they prove their credibility. You and your borrower will enjoy the end results.

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Colby Lee Burke Discusses Why You Should Consider Purchasing a Home in Hilton Head

By on January 9, 2019

Buying a house is a fairly similar process no matter where in the country you’re planning to buy it in. You have to know how much you’re willing to spend, where you’d like to live, and the type of house you want. Then you need to meet up with a broker or realtor to aid in your house searching process to abide by the rules and make sure everything is done in order. In this article, Colby Burke Hilton Head will be discussing why you should consider purchasing a home in Hilton Head, South Carolina. 

Buying a house is a fairly similar process no matter where in the country you’re planning to buy it in. You have to know how much you’re willing to spend, where you’d like to live, and the type of house you want. Then you need to meet up with a broker or realtor to aid in your house searching process to abide by the rules and make sure everything is done in order. In this article, Colby Burke Hilton Head will be discussing why you should consider purchasing a home in Hilton Head, South Carolina. 

Colby Lee Burke Discusses Why You Should Consider Purchasing a Home in Hilton Head

Hilton Head is an amazing place to travel to, but why would you need to travel to a place you already live in. If you’ve been looking at places where your money will go far and will also provide you with a great living experience, then look no further than Hilton Head for the following reasons: 

  • Near-Perfect Weather Year-Round
  • Pristine Beaches
  • Top-Rated Golf Courses
  • Food Festivals
  • Wildlife Reserves
  • Minimal Tourism
  • Great Neighborhoods

Those who have never visited Hilton Head, South Carolina can only base their moving decision based on articles and what the news say about the area. If you’re looking for a place close to the beach, with great weather, and lots of things for you and your family to do then you should really look to buy a house here. Near-perfect weather means you will not have to worry about your house’s water pipes freezing like it does in Oklahoma. Any day you want to you can take a trip to one of the six beaches within the Hilton Head island. 

If you’re looking for a place where your home will retain its value, this is it. According to Trulia, the trend shows an increase of 9% in median sales price year after year, as well as a 1% increase in the cost of rent. This is a great place to be in because prices will only continue to go up and you wouldn’t want to purchase at or near the top of the market. In the past year there have only been three crimes and one arrest, making Hilton Head one of the safest areas in the country. There are fifteen schools in the Hilton Head area and the household income of the neighborhood averages close to $80,000. Here’s one of the best statistics anyone would want to hear: the average commute time on the island is anywhere from five to fifteen minutes, never more than that. Finally, the median sales price for a single family residence is $380,000 and the average price per square foot is $217 with an average monthly rate of $2,400. 

Conclusion

In conclusion in this article we discussed the topic of purchasing a home. Specifically, we discussed why purchasing a home in Hilton Head, South Carolina is a good idea. The island has near-perfect weather all year round, six pristine beaches to sun bathe in, two dozen golf courses, a yearly six-day wine and food festival, wildlife reserves within the island, and so little tourism that you’ll feel the peace and quiet. Colby Burke Hilton Head also provided some real estate facts in order to make your purchase a sound financial decision. 

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Apply These 4 Secret Techniques To Improve Your Credit

By on August 23, 2018

Associates Home Loan

Your credit card can be severely affected when you have severe financial distress. Bankruptcy penalties in Chapter 7 on your credit report stay present for ten years. Collection accounts and Chapter 13 stick around for seven years. In case you attracted a tax debt due to financial distress, you will be haunted by unpaid tax liens for approximately 15 years. Who wants to wait for that long to rebuild credit? Absolutely no one!

There is a better way; you need to take measures that will help you to fix your credit for you to become financially stable again. Once the debt is behind you, you need to take the necessary steps to rise above debt and four credit so that you can get new financing and advance your life.

We are going to look at five steps that can assist you to improve your credit.

Go for re-aging

When you have an account that turns out to be delinquent, the lender or creditor often reports the status of the account to the credit bureau. Once this record is in place, you get a negative credit report that stays open for seven years.

If you have an account that is delinquent, inform your creditor and arrange for a repayment schedule to cover up the payments. For you to be able to stick to the repayment schedule, ask for re-aging of the account for the late payments and negative status to be removed. Once that is done, you will have to make your payments to boost your score.

Repair your credit

Having several negative items on your credit report is possible. Most of the penalties can be legitimate, and the only way is to re-age if you want to remove them. But on the flip side, not all items that are negative in your report are right. There have been errors made in credit reports that can drag your score.

You can dispute these errors through a credit repair in different ways:

  • Hire a company to look at your credit report and make any disputes in your case.
  • Purchase a credit repair software to help you recover from your credit.
  • Get an online credit free guide to fix your credit.

If you make a successful dispute, any negative item will be removed, if it is hurting your credit score. This will help you to improve your score within a month which is the time the credit bureau will verify information or remove the negative item.

Pay on time

Your payment history is a primary consideration of your credit score since it accounts for more than on-thirds of the score. Although it seems simple, payments have to be made in time to improve your credit ratings. Each payment made on hard money loans creates a positive record in your payment history. So, if you missed payments tainted your record, the payments will offset this record.

It is important to know that the impact of the bad record decreases over time. Although the items stay on your record for some time, it becomes less impactful. Essentially, a recent missed payment can affect your credit score than a missed payment five years ago.

So, if you make on-time payments as frequently, you will fix your credit faster. The same is true even if you have hard money loans.

Don’t close old accounts

Keep accounts that have always been active available. ‘Credit age’ is how long your credit has existed over the years. It is considered a key third parameter in calculating 15% of your credit score. If you close your oldest accounts, your credit age will be decreased which is bad for your rating.

If it is possible, use your creditors to keep your old accounts in good ratings to minimize your credit age and prevent abrupt decreases in your score.

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