How’s Your Credit?
Posted on Mar 28, 2009 under Credit & Finance | 4 Comments
The three major credit-reporting agencies, Equifax, TransUnion and Experian, are each required to provide consumers, upon request, a free copy of their credit report once every 12 months.
The reports will not be sent automatically. Each consumer must request reports one of these three ways:
* Go to AnnualCreditReport.com, which is the only authorized source for consumers to access their annual credit report online for free.
* Call (877) 322-8228.
* Complete the form on the back of the Annual Credit Report Request brochure, and mail it to: Annual Credit Report Request Service, P.O. Box 105281, Atlanta, GA 30348-5281. The brochure, which can be ordered or printed, is available from the Federal Trade Commission.
A credit report is simply a rundown of your payment history, listing your accounts, balances and your payment behavior for each. It is not a credit score, or FICO, the three-digit gauge of your creditworthiness used by lenders, employers and insurers. But credit scores do use the information on your credit reports in their calculations, so it’s important to spot and correct inaccuracies as quickly as possible.
[MSN Money]
The biggest factor determining the value of your property is the market for homes in your area. However, other factors that you can control are also important. For example, specific home improvements can increase the value above the cost of the improvements. According to Remodeling magazine’s 2005 “Cost vs. Value” Report” remodeling report, a mid-scale remodeled bathroom returns 102% to the owner after four years, an upscale bathroom addition provides 85.8%, and a mid-range master bedroom suite, 82.4%. Flashy remodeling projects rarely pay off, but if one area of the house is out of date or in bad condition, you will probably need to remodel it to get the best price for your home. The numbers have been increasing in recent years as real estate prices have increased. Remember, quality pays. Well-planned and well-executed remodeling jobs are a good investment while bad work seldom enhances value or livability.
Zero-down mortgages are fading as lending rules tighten. If you lack the cash to get into that new home, consider these 12 options along with some buying strategies.