Better Credit...Better Interest Rates

I was thinking about a past post I did and wanted to repost it. It was about how better credit translates into better interest rates. Check out the details below…


If a person with a 620 score gets a mortgage the interest rate will be around 4.6% with a payment of $765 and pay $126,000 worth of interest over the life of the loan versus a person who has a 720 with an interest rate of around 3.1% which calculates to a monthly payment of $647 and total interest paid over the life of the loan of about $83,000. This calculates to about $43,000 saved during that time. Now imagine if you took that extra savings and placed it in a Money Market account or a high-yielding savings account.

Tradelines

Tradelines are the accounts that are on your file. Tradelines help aid the 70% of your credit report that lenders and under writers review which is credit history and utilization. Our tradelines have great credit/payment history and low utilization ( which means very low balances). 

However if you do not have many tradelines on your file regardless to whether you have any or no derogatory information you may still be declined because credit is based off of your current consumer traits, even though you may have alot of paid off accounts with no lates or just a few lates if you do not have any open and active accounts seeking approval will be difficult and will bring about high interest. 

Below are several guidelines you should go by when you are in the

market for auto loan, funding or mortgage :

MORTGAGE : 4-5 accounts & at least 1 account open at least 12months

*Self Help Tip - get a secure card and 2 seasoned authorized user

AUTO : Need a minimum of 2 accounts with a minimum of one account at least 12 months with at least 5K for auto

in the 10-17K range, 

- 17K - 26K you will need at least one 10K plus with one being open for 12 months 

-26K - 45K you will need at least two 10K plus lines with one open for 12 months 

*Self Help Tip - get a secure card and 2 seasoned authorized users

FUNDING : Need at least 3-5 accounts with two account both opened for over 12 months

*Self Help Tip - get a secure card and 2 seasoned authorized user

FYI DIY Day 5

This is our last installment on Do It Yourself Credit Repair. Finally you need to build some muscle. In other words its good to see if you can enhance your remaining credit profile. After you have removed all the negative items that you can off your report. Also this is a reminder that you need to start repairing your credit as soon as possible because you can not predict the time-frame involved in getting yourself to the point that you want to be. As you increase your score you decrease your interest rate, which in turn reduces your monthly payment. 

Check with your family members first to see if anyone has a credit card that they are willing to add you on as an authorized user. This gives you the benefit of all their payment and credit history on the particular card. Consequently this means that they should not have ANY late payments, if they do then you are just working against yourself. The higher their limit and the lower the balance the better it is for you. Next check with your bank to see if they offer secured credit cards. If they do then this is a great tool to help your overall credit profile. 

Also you can document your history of paying your rent, health insurance, or even child care bills on time, every time, for at least 12 months, talk to your mortgage professional about whether you can use any of these accounts to prove yourself creditworthy to mortgage lenders.

Remember start early, stay patient and you'll be able to see great results. 

FYI DIY Day 3

Pay the things off that matter. You may ask how do you do that? Consult with your lender to get a good grasp on what they're looking for.  Most financial institutions will require that you settle, bring current or pay off certain things entirely before you can buy a home: 

accounts in collections

state and federal tax liens

past home loans or lines of credit in default that were not extinguished through foreclosure or short sale (e.g., second loans, home equity lines of credit, etc.)

defaulted federal student loans (for FHA loan applicants).

When you're in negotiations with creditors to make settlements believe it or not you are in a position of power. Ask the creditors if you can settle with terms. The terms being based on this payment you agree to delete the corresponding account off of my credit report. This method doesn't always work but its worth a shot. 

Another important thing is to prioritize the various items on the credit report. For example, some lenders might allow you to simply settle a tax lien at closing, while most FHA loans won’t allow for a credit pre-approval while you have a defaulted federal student loan on your report.

Nevertheless don't just go all willy nilly paying off debt. It may seem wise to take the opportunity to pay your debt off and close out old, unused accounts, thinking it will score extra brownie points with perspective lenders. However this is not the case always. Credit scores are calculated based on available credit and credit utilization. FICO score calculations are reportedly maximized when you have 30 percent of the credit available to you on your accounts.  So don’t pay them entirely off, and whatever you do, don’t close accounts that are open and/or current.  

Day 2 "FYI DIY"

Make sure you double-check your report for minor errors. Particularly things that should have fallen off due to statue of limitations requirements, incorrect remaining balances and limits listed as lower than they are, and inconsistent paid off dates. 

A lot of consumers we polled believed that paying their bills on time was the most important factor that influenced their credit score. However that is not always the case, even if you pay your bills on time and have a maxed out credit account (loan, line or card) it will have an adverse affect on your credit. Consequently, if your credit report shows your balances as higher than they are in reality or your limits as lower than they actually are, this by itself can severely impact your credit score.  

There is a biblical saying that "the small foxes spoil the vineyard." In other words these seemingly minor items can have a major impact on your credit score. The truth is that they are all too common and commonly overlooked by consumers, who are looking to point the blame at the bureuas or some identity thief.  

Delinquencies should age entirely off your report after 7 years, and bankruptcies after 10.  The precise date of a short sale or foreclosure can actually be the deciding factor in your ability to qualify for a home loan - so make sure it is reported accurately. 

Do It Yourself Day 1

1. The 1st step is to go to AnnualCreditReport.com and order your credit reports from all three reporting bureaus: Experian, Equifax and TransUnion. Also you can go to Equifax.com/freetrial and sign up for their credit monitoring service. Once you receive your reports, identify accounts that are not your accounts. Next look for accounts that are reporting erroneous information such as late payments listed as late that were actually on-time, modification listed as a foreclosure, etc. Each report will come with a detailed set of instructions on how to dispute the errors immediately. They will give you the option to dispute the items both online, over the phone and in writing. I suggest using the writing method, due to certain FCRA laws which are advantageous. 

Don't hold your breath or lose patience it might even take several rounds of disputes and submissions of documents to finally clear everything up. If you are planning on getting a home or car loan talk to the loan officer to see if the remaining items on your report even have a significant bearing on your interest rate or terms. Many consumers become overally concerned with collection items when they usually are the most insignificant items on your report. 

Life...

Life. It is what it is, a constant change of events, circumstances and situations. Raymond Feist said "Life is problems, Living is solving problems." In life there will be changes that occur but you must keep on living. Our goal is to help your transition through some of the changes that life throws your way, make them more manageable, less stressful and calculate your plan for recovery. Whether it was divorce, unemployment, foreclosure, whatever it might have been that swept the rug from under your feet financially; we may have a plan to help you get back on track. The first step is admitting that you need help. No this is not a 12 step program, however we do believe in being honest with yourself. Are you a bad money manager? Are you living above your means? Is fear holding you back? Second you must take action. If you never take action, absolutely nothing can change in your life. Third you must create a realistic plan to take back control over your life. There is nothing that can send you reeling backwards quicker than a poorly planned escape. We can assist you formulate a realistic plan that you can adhere to and commit to until your personal goals are accomplished. Last but not least you must make up in your mind that you are ready for change. You may ask, if I am honest, take action and create a plan, am I not already making a change mentally? No this is not always the case. You must make a paradigm shift that you will never go back. Whatever it is that caused you to go down this path, you will never go back down this path. Whether it’s a bad relationship, certain environment or addictive behaviors disguised as innocent pleasures, you can never go back down that road. We have all heard stories of people who make all of the afore mentioned changes but perhaps months, years or decades later are back in the same or worse predicament. You must never bring ANY of the negative stimuli with you into your new life. The ball is now in your court, it’s up to you to change. Change is indeed inevitable. You will either change for the good or the bad but I can assure you that you will change. The path you take is totally up to you.

Dangers of Foreclosures Pt 3

Yesterday we touched on this subject very briefly. That is when you position yourself to purchase a foreclosure it may not be all as it seems on face value. A lot of your more expensive homes may be effected by this more than the lesser priced homes. This is due to the high-end appliances, fixtures and amenities used to build these homes. More often than not previous homeowners are blamed for the vandalism to these homes, however opportunistic vagrants are usually to blame for the damage.

Conversely, when homeowners are to blame it is usually due to resentment and unsuccessful attempts to keep the property. The previous homeowners usually have some form of emotional attachment to the property. They usually have looked at several homes before deciding on this one, took in to account their own careers, children's future and neighborhood suitability. Then we bring into the fact that they have to give this all up in a moments notice. They have invested time, money and dreams into this property and now they have to move.

This can cause some serious separation anxiety and disgust towards the lender. Consequently since they can do no harm physically against the mortgage company then they decide to take it out on the property. Ultimately, this will hurt the home's value and somebody will have to pay to replace and repair the damage that has been inflicted. Nevertheless, your goal is to ensure that you are not stuck with the bill, if you are make sure to include this in your negotiations and mention it to your broker.

How Monthly Liabilities Apply

Using the example from two days ago, let’s say you’re trying to decide how much house payment you can afford coupled with other monthly obligations: A vehicle payment for $300 per month & $80 per month in credit card payments. Assuming our example income of $5,638 per month, in order to purchase that same house for $350,000, the monthly income would have to be $6482 per month adjusting for total monthly liabilities (determined house payment + other debts) ÷ monthly income. The other choice is to reduce the purchase price to $300,000, with effectively $380 per month in other debts, which influences borrowing power by $50,000.

*Mortgage Tip: take 45% of your monthly income less monthly liabilities. This is the maximum house payment you can qualify for, then simply equate what the monthly payment is relative to how much you can borrow based upon using $725 per month for every $100,000.

12 DAYS OF MASTERING CREDIT - DAY 11

If you're Bill Gates or Warren Buffett then you probably don't need to read this article. This means that you are probably too rich or too smart or perhaps both, so you have this one financial trick under control.

However for the rest of us, making, and especially adhering to a budget is essential to ensure that our money gets used the way we need it to. Perhaps you are in the best situation possible financially, you have great income you pay all your bills on time each month. Nevertheless you may find that you are spending more than you wish on items that may seem like necessities but are really luxuries.

The one mistake I've seen beginning budgeters make is becoming financial party poopers. You have to keep in mind that you do not want to cut out ALL the fun, you have to make room for entertainment and splurges or your plan is doomed to fail.

Remember its like a financial diet, moderation is the key. If you like to eat out everyday of the week, it doesn't have to stop. You can still eat out but perhaps just not every day of the week. Here are 10 steps to budgeting.

1. Budgets are a like flies

Nobody likes them around and we all find ways to get rid of them when they show up. Unfortunately they are essential to our financial ecosystem.

2. The budgeting two step

You can dance around this issue for months or even years you are going to need a budget. The key is to identify how you're spending money now.

- Evaluate your current spending and set goals that take into account your long-term financial objectives.

- Track your spending to make sure it stays within those guidelines.

3. Don't try to be a whiz kid

If you use a personal-finance program such as Quicken or Microsoft Money, the built-in budget-making tools can create your budget for you.

4. Driving Mrs. Crazy

Some people find that once all the info is on their computer they become money control freaks. Once you determine which categories of spending can and should be cut (or expanded), concentrate on those categories and worry less about other aspects of your spending.

5. Don't call the plumber

If money leaks from the ATM machine without apparent explanation, it's time to keep better records. In general, if you find yourself returning to the ATM more than once a week or so, you need to examine where that cash is going.

6. Watch the spending limits

Spending limits should be observed just like speed limits.When they are not adhered to then it can be dangerous. Surveys show that many households with total income of $50,000 or less are spending more than they bring in. This doesn't make you shoe-in for bankruptcy, but it's definitely a sign you need to make some serious spending cuts.

7. Beware of luxuries dressed up as necessities.

If your income doesn't cover your costs, then some of your spending is probably for luxuries - even if you've been considering them to be filling a real need.

8. Tithe yourself.

Most people tithe to churches or other charitable organizations. In addition the only way you are ever going to see a significant amount of money saved up is to tithe to yourself. That means taking 10% off the front end of your income and placing it in a savings account. Also I suggest that you have an account that doesn't have an ATM or debit card attached to it.

9. Don't count your chickens before they hatch.

When projecting the amount of money you can live on, don't include dollars that you can't be sure you'll receive, such as year-end bonuses, tax refunds or investment gains.

10. Save until you can't save anymore

As your annual income climbs from raises, promotions and smart investing, don't start spending for luxuries until you're sure that you're staying ahead of inflation. It's better to use those income increases as an excuse to save more.

12 DAYS OF MASTERING CREDIT - DAY 5

DAY 5

CREDIT CARDS THE BIG “C”

The Big C is commonly associated with cancer, the word that everyone hates to hear and no one likes to repeat. Of course I am in no way making light of cancer, my Mom is an 18 year survivor of lymphoma and my Dad is a 14 year survivor of prostate cancer. Consequently I am intimately aware of the pains of cancer, treatment and its effect on families. However what I want to discuss today is credit cards.

There has been a long standing debate over whether a consumer should possess a credit card or not. Credit cards are feared and misunderstood by many just like cancer. The average American household with at least one credit card has nearly $15,950 in credit-card debt (in 2012), according to CreditCards.com. Multiply that times the over 300 million people that are in the US and you get the picture. Nevertheless there are some good reasons for having credit cards and we thought that we would assemble a few of them below.

Renting A Car

While it may be possible to rent a car without a major credit card, it is very difficult and probably something that you should not do as you would probably be running the risk of dealing with unscrupulous individuals in the process. Rental car companies will require a deposit, several forms of identification, and proof of insurance. If you have ever had to wait in line behind a renter who did not have a credit card, then you already understand how time-consuming this process can be (If not consider standing behind someone writing a check at thegrocery store). Furthermore, try to choose credit cards that already include some form of rental car insurance, which will save you time and money in the long run.

 

Checking IntoA Hotel

Like rental car agencies, hotels are designed around customers who hold a major credit card. Without a credit card, guests will need to place a deposit on their room in order to insure against damages and to cover any incidental expenses. These deposits are often made as a hold on a debit card, which can take several days to clear. Other alternatives will be to pay for the entire visit for cash upon checking in, which can be expensive depending on the length of the trip. If travelers need to visit multiple hotels within a week, these holds can add up to several thousand dollars.

In AnEmergency

This is probably the least desired reason to “own” a credit card but probably the most obligatory reason to actually hold on to the plastic fiend. Since it simply isn’t safe or practical to carry large amounts of cash at all times, a credit card is an ideal form of payment for emergencies such as car repairs and travel disruptions. Additionally, many credit cards offer travel assistance and concierge services that can be very useful in the event of personal crisis or a natural disaster. For instance, credit card issuers were able to help cardholders in the aftermath of Hurricane Sandy.

Credit Card Perks

Baggage Fees

American travelers have grudgingly grown accustomed to paying for checked bags on flights. However there is some hope as some credit card companies give allowance for travel fees to its cardholders.  For instance, American Expressoffers a $100 annual airline fee allowance on its Blue Sky preferred travelcard.

Personal Concierge

American Express Platinum Card, Discover More Card, VisaSignature, and World Elite MasterCard customers enjoy access to specially trained concierge teams, who can recommend and reserve hotels, restaurants, and special events.

American Express notes that its team has helped arrange honeymoons and organized house painting chores for vacationing cardmembers.(You can see why American Express is the most desired and perhaps one of the top three most difficult cards to qualify for).

Brand Rewards

Like airlines, major cruise lines offer their own branded travel rewards cards that can offer significant rebates on luxury vacations. Delta,Royal Carribean, Disney, and Southwest Airlines all partner with major banks to extend special financing and bonus rewards for cardholders.

If you have more credit card debt than you can manage, get help before your debt causes you to go into a financial tailspin that can take you years to recover from. There are reputable debt counseling agencies that may beable to consolidate your debt and assist you in better managing your finances. But there are also a lot of nonreputable agencies out there. Make sure to do your due diligence before making a final decision.

 

Ifyou have additional questions contact us today at 1-888-824-7622 or The CreditGenius.

 

12 DAYS OF MASTERING CREDIT DAY 1

12 DAYS OF MASTERING CREDIT

Every Christmas each child anxiously counts down the days to when Santa Claus brings them joy, good cheer and every item at Toys R Us (right?). The same anticipation should be felt by us adults who decide to grab the bull by the horn and tackle the uncertainty of correcting their credit. A lack of credit knowledge can cause you to pay more than you have too, both in the future and now. Fortunately there is hope, over the next 12 days be on the lookout for a tip a day on general credit knowledge that will assist you in taking that first step to a new life, a new you for the new year.

DAY 1

WHAT IS CREDIT?

We all know that we need good credit, or at least want to have it, but what exactly is credit? The majority of us does not find out what credit is, until we get to college or decide to make a major purchase sometime in our adult life. There are several ways to augment your credit but before you do that, you need to know what credit is, how it functions and how it can hopefully help you, instead of harm you. Let’s take a deeper look at what exactly credit is.

Credit is your reputation as a borrower. I often tell customers that it is equivalent to your interview at a job. A potential creditor has no idea who you are. They don’t know how much time you volunteer in the community, how you make sure the office is never without coffee or if you read to your child every night before they go to bed. They know none of this and quite frankly could care less. They want to know how much financial integrity you have. Your credit informs them what is likelihood and the chance that you are going to pay your bills on time, month after month. They want to get personal with you and check all into your financial past.

There are many misconceptions around the information that makes up your credit and all things that pertain to it. However, the best thing you can do initially is to make sure that the information you provide on all your applications are accurate.

In the beginning credit was primarily used for making lending decisions. However in recent times, especially since the financial fallout that started in 2007, they use credit scores and reports for other areas of your life. Most importantly of all the people that access your credit are potential employers.  Also they use your credit reports in determining insurance rates and premiums.

THREE COMMON MISCONCEPTIONS ABOUT CREDIT

1: Credit bureaus are officially recognized entities.

WRONG: Credit bureaus are companies which are in the business of making money at your expense. They gather together stories told by their “friends” and tell them to their other “friends”, without consulting you whether or not these things are true. That’s one of the main jobs of the Fair Credit Reporting Act that is to make sure not what they CAN do but what they CAN NOT do especially to your detriment. A credit report is not even an official legal document; I mean your driver’s license carries more weight with the government than your credit report, at least that’s the way it was meant to be. It at the beckoning of the “machine” which is corporate America it has caused many much grief, anguish and has even pushed some to suicide. It has more influence but not as much substance as a two-dollar bill.

2: Items on your credit report are required to remain for 7 years.

WRONG: This has been misconstrued due to the relation with Chapter 7 & Chapter 13 bankruptcy filings, nothing, I mean absolutely NOTHING is REQUIRED or should I say mandated to stay, other than that which can be ACCURATELY verified.

3: I have good credit because I pay my bills on time each month

WRONG: You have to understand there are a lot of factors that go into determining your credit score and one of them is your debt to credit ratio. You have to have this under control and understand what it is. Your debt to credit ratio is your debt that you have versus the total available credit that you have. Let’s say you have a credit card with a $10,000 limit & you owe $2500 then your debt to credit ratio is 25%.

In the days to come we will explore more of these topics in detail and others such as how your credit score is determined, your rights as a consumer and good debt versus bad debt. For more information on how to start your credit makeover visit our website. The Credit Genius

 

Child's Play

Remember the 80s and 90s these were the days of horror movie killers? They invoked fear with just there mere presence. There was Freddy, Jason, Michael Myers and who could forget Chucky. Chucky was a doll that was possessed by a famed serial killer Charles Lee "Chucky" Ray. Although Chucky was originally a toy, once he was overtaken by Ray he didn't play any games & had a crude sense of humor. In the last three years, there have been 57,000 cases of child identity theft reported to the Federal Trade Commission (FTC). A new report from All Clear ID estimates that one in 10 U.S. children are victims. Apparently thieves aren't playing any games and posses a crude sense of humor as well. Imagine your child trying to start a new life with their spouse or in their freshman year of college only to find that their identity has been stolen. Furthermore upon further investigation they find out they are in hundreds or even thousands of dollars worth of debt. As responsible adults of course we can shred unwanted credit card offers, create enigma passwords to protect ourselves but imagine if its our children that are the target of these identification sharpshooters. Unfortunately this is no Hollywood tale of horror fiction, as in most cases the crime is not detected to several years later. Now thats scary! Here are some tips to stay safe and secure.

1. Keep your children's important documentation in a safe deposit box or in a safe place at your home. This includes birth certificates, social security cards and medical records.
2. Contact Equifax, TransUnion and Experian to request a free copy of your child's credit report. The will probably ask for you to prove your relationship to the child with a birth certificate if your child is not of legal age to request their own reports.
3. Once you receive the credit reports, carefully review the credit report for any errors. If some errors are located then promptly contact the FTC (www.ftc.gov), Internal Revenue Service (www.irs.gov) and the Internet Crime Complaint Center (www.ic3.gov) to your report your child's identity theft. Keeping an eye on your child's identity may be a full time job but the damage that you can prevent will be well worth the effort. For more information on opening a safe deposit box, contact your local bank or credit union.

Black Friday Is Coming To Town

I was reading over the lyrics to Santa Claus is Coming to Town and decided to write a blog dedicated to creating a better shopping experience on Black Friday.

1. You better watch out

Be careful of your surroundings when out shopping. If you are making major purchases you may want to take those items home as opposed to leaving them in your vehicle all day. Make sure to hide all packages out of plain view of those with less than good intentions this holiday season. Finally at all costs avoid going alone.

2. You better not cry, You better not pout
Guess what?!?! Your favorite item may just be sold out. Keep a good attitude about it and move on to the next item.

3. Making a list, And check it twice

Before heading out to brave the elements, traffic and stand in line at Starbucks (you didn't know Caffeine was mandatory for Black Friday). Make a list of items & break them down into three categories that you plan to snag. From got to have, must haves and just want to have. Prioritize the items and try to map them by location as well. Don't forget to coordinate with your fellow shoppers to maximize time and avoid backtracking.

4. Who's naughty and nice

There is the old adage that says it pays to be nice. I can attest to this from personal experience. My wife and I have been shopping several times when other customers have offered us coupons or to skip ahead in line. Also there have been times where we have gotten free coffee or food while waiting. You never know who's watching so it's better to be nice instead of naughty.

5. He sees you when you're sleeping, He knows when you're awake

You have to ask yourself is it really worth it to wake up THAT early? The answer lies somewhere in how early THAT is. Take into account that most of the best deals come in limited quantities. Then calculate the sleep that will be lost plus gas used times elbows thrown (just kidding I hope) to see if that one deal is really worth it. If you deem that it is indeed worth it, then set your alarm clocks and get ready to participate in the melee, madness and methodology of America's biggest shopping day.

Remember Black Friday is coming to a town near you, so be smart for your savings account sake...

SIX STEPS TO GET OUT OF CREDIT CARD DEBT

1. Pull Out Your Credit Card Statements And Get Them Organized

Pull out your credit card statements and get them organized in file folders. Also you may want to get a copy of your credit report from annualcreditreport.com to make sure there are not any lingering accounts that you are not aware of.

2. Complete Your Budget Worksheet.

Complete a budget worksheet and fill it out completely. Now write down the name each account, the outstanding balance you owe, the minimum monthly payment, and the payment due date.

3. Assign a Number To Each Account

You can calculate it by dividing the outstanding balance by the minimum monthly payment. (For example, say you owe $1,000 on your Visa card and the minimum monthly payment is $50. Dividing $1,000 by $50 gives you a number of 20. Do this for all of your credit card accounts.)

4. Assign a Ranking To Each Account

Assign a ranking to each account. The account with the lowest number is ranked #1. The account with the second-lowest number is #2. And so on.

5. Calendar The Due Dates

Calendar the due dates. Enter the payment due dates for all your credit accounts in your computer’s calendar system. Set your calendar software to remind you of each due date at least five days in advance so you don’t make any late payments and get hit with costly late fees and penalties.

6. Start Paying Down Your Debt

Start paying down your debt. Each month, as the payment due dates approach, make the minimum payment on every account…EXCEPT for the one with the #1 ranking. For that card, make as big a payment as you can manage. Ideally, your payment should be at least double the minimum. (Hopefully, FINDING extra money will make it easier to come up with the money you will need for this.) Once a card has been paid off entirely, you retire it and start paying down the card with the #2 ranking.

This is a good general jump start to your financial future. For more detailed advice you may want to seek a certified credit counselor. Also a lot of banks offer free programs to help you achieve your financial goals.

NBA & NFL ticket giveaway

NBA & NFL TICKETS FOR 2 ! This month we will be giving away NBA & NFL tickets to those turning in referrals starting midnight tonight. Every 5 files turned in equals 2 tickets at the game of your choosing please choose games with at least 35 days allotment. Tickets are for regular season ONLY, playoff & all-star games EXCLUDED.

Invest In Yourself

Everyday we spend our time and money in various places and with various people but what are we really investing in. Most people are not aware of the fact it is really not that difficult to get approved for a mortgage. I myself personally know lenders that approve people with credit scores as low as 580. Furthermore if I tell an individual that they have been approved for a mortgage and that their interest rate is going to be below 5% most people would believe that that is a great deal. However that's not the case. If a person with a 620 score gets a mortgage the interest rate will be around 4.6% with a payment of $765 & pay $126,000 interest over the life of the loan versus a person who has a 720 w/a interest rate of 3.1% monthly payment of $647 & total interest of about $83,000. The scenario above paints the picture of a good deal versus a great deal or either a good deal versus a better deal. I mean if you get an interest rate below 5% that is not particularly a bad deal but there is a better deal available if that person is willing to make the proper investments in getting their credit score higher. So lets look at the numbers again, not only will you save $118 per month, which is $1,416 a year but also you will save $43,000 over the life of the loan. If we calculate $1416 a year times 30 years which is the average life of a mortgage then that brings the total amount to $42,480. Now if we add the amount you have saved on your monthly payments over 30 years $42,480 plus the interest saved which is $43,000 that amount equates to $85,480. When we look at that amount that is a pretty good amount that's saved imagine if that amount is saved or placed in an interest earning savings account. This is only what a person can save on the mortgage imagine what you can save in auto rates, credit card interest, etc. The greatest investment is one that you can make in yourself. Decide to make an investment in your future today.

LIGHTNING DOESN'T STRIKE TWICE

We have all heard that lightning won't strike the same place twice, but in actuality there is no truth to this popular saying. Lightning does, can and will strike the same EXACT place more than once. Don't take my word for it, if you would take a survey of the employees at NASA's Cape Canaveral space center in Florida they would tell you that my statement is completely true. It's a proven fact the shuttle launch pad is struck several times, even multiple times during the same storm. One of Americas most famous structures the Empire State Building is struck on average about 25 times each year. I am a sports fanatic, I love the thrill of the big game. During my time of watching sports I have seen some of the greatest comebacks of all time. Reggie Miller scored eight points in the final 16.4 seconds as he hit two three-pointers and stole an inbounds pass for an easy bucket to defeat the New York Knicks in the 1995. The Boston Red Sox came back from being down 3-0 in 2004 to defeat their arch-nemesis the New York Yankees. Perhaps the king of comebacks, even greater than Roger Staubach, was Michael Jordan. Jordan's opponents consistently saw games slip out of their hands as quick as lightning. Houston Mitchell of The Los Angeles Times researched the number of game-winning shots that Michael Jordan had made in his NBA career. Mitchell discovered that Jordan had made a total of 25 game-winners including the historic Game 6 winner from the '97-98 championship game.

Just like lightning & just like Michael Jordan we at The Credit Genius are consistent in what we do. The founders have a combined experience of over 14 years in the financial services industry & started doing credit repair back in 1999. If lightning strikes a place once you can call it coincidence, if a player shoots the winning shot every once in a while you may call it luck. My friend I assure you, what we do at The Credit Genius is neither coincidence nor luck but SKILL. It is that we possess the skills needed to accomplish a specified task and to perform a given function, in other words a skill-set. It is the knowledge we have obtained through countless hours of study, research & plain old- fashioned hard work. We have positioned ourselves just like that launch pad to reproduce exceptional results, just like Michael Jordan we didn't start off the best but we absolutely will always finish as the best. We are NOT a bunch of lawyers who couldn't pass the bar & started doing credit repair. No sugar coating about it our name & our work speaks for itself. We ARE The Credit Geniuses.