It’s a good time to be in the mortgage business, with shockingly low interest rates, record home equity, and thriving – if not spectacular – real estate markets nationwide. However, we all know that these halcyon days won’t last forever.
In fact, with about 300,000 mortgage lenders (between banks, brokers, and LOs) in the U.S. all fighting for the same shrinking piece ... Continue Reading →
San Diego may have a sizable population (1.37 million people), but it’s now also a young city, with 25% of residents 25 years old or younger. With a median age of only 34.9 years, there are a whole lot of Millennials just trying to make their way in the working world, as well as Gen Xers starting families.
It seems harder than ... Continue Reading →
By now, you’re probably aware that credit scores range from about 300 to 850 (for FICO Scores), where your score sits on that spectrum, and even what’s typically considered a poor, good, or excellent score.
But what you might not realize is that the range of credit scores (and where you sit on it) isn’t as set in stone as you ... Continue Reading →
FICO is the preeminent credit reporting service in the United States, with 90% of all lending decisions in the United States dictated by FICO every single day. While there’s a lot of useful information about FICO (including our recently-published eBook), one aspect of credit reporting and scoring still creates some confusion: inquiries.
So today ... Continue Reading →
Let’s face it: we’re all trying to save a buck.
In fact, the Average American has some sort of money-saving on their annual list of resolutions or goals. It’s also more of a necessity than ever, as more families are living paycheck-to-paycheck than ever before in the U.S., with an average of only about $500 ... Continue Reading →
I recently came across a report issued by FICO, the preeminent credit scoring agency in the world, entitled “Understanding FICO Scores: What you need to know about the most widely used credit scores.”
In order to further educate you about FICO and how you can keep a great credit score, today I’ll summarize some of ... Continue Reading →
If you’re a real estate agent, loan officer, or work in sales in any capacity, then prospecting is a way of life. Cold calling, door knocking, social media posts, email newsletters, mailing postcards, prospecting phone calls, and even open houses are the tools of the trade. In fact, you probably spend the lion’s ... Continue Reading →
When was the last time you checked your credit? Was it six months ago? The last time you refinanced or purchased your home? Or even years ago, so far back you’re not even sure?
Well, just like getting your teeth cleaned at the dentist, getting your oil changed, and filing your taxes, you should be checking your credit report carefully at regular periods.
However, ... Continue Reading →
I came across a statistic the other day that gave me pause and made me reflect upon what so many people are doing wrong when it comes to their finances.
According to recent surveys, about 50% of Americans die completely broke.
Even worse, most people pass away not only with a net worth of zero but addled with significant debt. In many cases, that debt ... Continue Reading →
Money and relationships are inextricably tied, each exerting significant influence upon the other. Don’t believe me? In 2009 – during the dark days of the real estate crash and Great Recession – there were more foreclosures than marriages in the U.S.
I know what you’re thinking – there we an unprecedented number of foreclosures at that time, but the data on divorces during ... Continue Reading →