1. Quality of life – a home provides stability and security for you and your loved ones, and membership within a community of neighbors.
  2. Pride of home ownership – a home is a personal haven, a place that you can decorate, shape, and share over time because it’s yours.
  3. Excellent affordability – lower home prices combined with low interest rates means there are tremendous opportunities for buyers.
  4. Historically low interest rates – around 5 percent in the U.S. gives better purchasing power to those who qualify.
  5. Appreciation potential – your home investment can grow in value.
  6. Equity buildup and debt pay down – homeowners enjoy an average net worth of approximately $184,000 vs. $4,000 for renters.
  7. Leverage – where else can you buy an investment of this magnitude with 5-10 percent down?
  8. Tax deduction advantages – property tax and mortgage interest write-offs (in Canada, home owners gain a tax benefit upon selling).
  9. Tax exemption – up to $500,000 per married couple or $250,000 per person on sale of a primary residence in the United States (no tax upon sale in Canada).
  10. The real cost of renting – at $800 per month, with the average
    6 percent rental increase per year, you will pay $126,536 over a 10-year period but have zero ownership of the property.

BOOST your Credit Score

Theoretically, You have More control over the amount and terms of debt than you do over how the markets impact the value of your investments. Do you have as much control as you would like? Are the low interest rates you’ve been reading about out of reach because your credit score isn’t high enough? It’s NEVER too late to get your debt under control and take steps to increase your credit score.


The so called FICO score is the most widely accepted measure of credit worthiness; it is a quick gauge of your ability to repay debt. A high credit score can not only help you secure a lower interest rate when you need to borrow; it can even reduce your insurance premiums and some employers consider it when deciding whether or not to hire you for a job.

In general companies using the FICO score believe people with higher scores tend to act more responsibly in other ares of their lives as well. Conversely, a lower score makes it harder to get a loan, land a job or qulify for the best terms on a wide variety of consumer contracts.

FICO scores range from 300 to 850. Only a small percentage of consumers have scores over 800. The median score is roughly 725 and a score of 760 or higher usually gets you the best deals in interest rates etc. Income and assets (which are NOT included in the credit score formula) can also affect the amount and terms of a loan. However depending on the lender’s standards a good job, high net worth may NOT be Enough to OVERCOME a POOR credit score.

A higher credit score will give you leverage in negotiating the best terms. MyFICO.com estimates that someone with a FICO score of at least 720 who takes out a 36 month $20,000 car loan will pay a 6.47% annual percentage rate (APR). In contrast with someone with a score between 500 and 589 will pay 18.403%.

(Source: MYFICO data as of July 14,2009. Interest rates are natioanl averages).


Five factors have an impact on your FICO score: payment history,leght of credit history, credit use, frequency of new credit requests and typres of credit. see previous article explaining what you can do to increase your credit score.


The three main credit reporting agencies – Experian, Equifax and Transunion – are each required to provide consumers with a FREE copy of their credit report every 12 months.

It’s a good idea to request a copy from one of the three agencies every four months on a rotating basis.

To do so go to http://www.annualcreditreport.com/

They will try to make you think you have to pay for the credit report.
Scroll the screen and you will find where to click for your FREE CREDIT REPORT!
Remember either every 4 months with a different agency or 1 time a year on ALL 3 agencies.
P.S. I just did it myself I got my credit report but NOT my credit FICO score you have to pay for that. OR get pre-qualified by a mortgage company and they will have to give you a copy of your report and the FICO score.

As you check out your credit reports, look for errors (such as accounts you never heard of or closed long ago, or late payments that were actually paid on time) and follow instructions for correcting mistakes.


For most people, some level of debt is a necessity. When you need to borrow, take appropriate steps so YOU are the one who is In Charge of the terms and conditions – not the lender.

The material here is provided for general inforamtion purposes only.

Market Watch for Monmouth County NJ

In January, the prospect for a strong Spring Real Estate Market is bleak as under contract properties were down by 27% from a year ago and the economic and financial crisis continue to depress home sales.

The under contract properties of this January are down 48% from January 2005; however New Jersey’s actual foreclosure rate in January was .02% ranking it 32nd in the nation. By comparison the national average rate is .05% more than double that in New Jersey.

ON the other hand with mortgage rates dropping in the last couple of weeks,there may be a gentle ‘Spring Surge’ in home sales as long as mortgage rates fall and remain below 4.75% by the end of March.

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