My First Boise Idaho Home loan

Trying in understand the inner workings of a credit report can be a daunting task especially for a first time home buyer.   The scoring system is very complex and often makes no sense. 

When home buyers have their credit report checked for the first time,  there are often mistakes that the consumer is not aware of.   Sometimes there are accounts that are still open and causing problems.  What ever the reason, the home buyer needs to address each account and correct any inaccurate entries.  

Collections on credit reports are a big reason why buyers scores are low.   If a collection has recently been paid, but it still shows owing on the credit report, this would be an example of when the “rapid re score” would come in handy.   If the consumer can prove that the collection has been paid with documentation, then there is a good chance that re scoring the credit report will be successful.  

What is a “rapid re score”?  It is the process of providing correct documentation to the loan officer about the account in dispute.  Then the documentation is submitted directly to the credit bureaus for an immediate re score.  This usually takes about 3-5 working days.

This process is not always a sure thing, but can often raise the scores enough to qualify a potential Boise home buyer and move them onto the next step of the home buying process. 

Any Realtors who have a home buyer with scores that are a little low, this option could be a “deal maker”. 

There are more details, so please give me a call-thanks

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Guild Mortgage – Boise Home loans – Craig Ballhagen                         208-713-3309           

Idaho First Time Home Buyer Instant Gratification

Request for No Obligation Boise Home loan Analysis

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Once again, how much is enough? How much square footage does a person REALLY need?  How many rooms in a house are full of “stuff?”

Home buyers are trending towards smaller homes and down-sizing their personal fleet of vehicles from four to two.  More and more realtors are blogging about these exact trends.  Builders are re-thinking their futures and moving towards building 2,000 square feet homes, as opposed to 5,000 square feet.

It is true that a larger home means a larger mortgage payment, larger tax bill, higher utility costs, and so on–not to mention extra maintenance and up-keep.  Remember, the more money a person spends now means the less they will have for retirement (which means the more years a person will have to work).  When someone works feverishly to earn 10k per month but then spends 10k plus another $1.00, what is the point? What if that 10k per-month job disappears?  Then what? 

Most of us consume far beyond our means.   What is it going to take to reverse this way of living?  Unfortunately, many people are being forced to do it now due to job loss and foreclosures.   Painful lifestyle adjustments need to be made and a new mindset of spending less has to be learned and passed on to our children.  These types of “life lessons” are priceless.

Here are few others post simular to this one.

 Mom!What’s for Dinner?

OOPS! I Just Ate My Mortgage Payment!

Why Do We Do What We Do

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Guild Mortgage – Boise Home loans – Craig Ballhagen                               208-713-3309           

Idaho First Time Home Buyer Instant Gratification

Request for No Obligation Boise Home loan Analysis

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“How can you have any pudding if you don’t eat yer’ meat?”  (Pink Floyd).   It seems, these days, most people don’t want to eat their meat and just go straight for the pudding.  Everybody wants a “short cut” and nobody is willing to put in the time and sacrifice.  From dieting to spending habits, quick fixes are not the answer.   

We continue to eat anything and everything, and at the end of the day, take a “pill” and do it all over again tomorrow.  This strategy will never work in the long run.  The only weight loss solution is to EAT LESS FOOD.  This is much too simple for some and they think that their situations are “different” and their problems are much more complex; hence the reason for the “Magic Pill” or gimmick.   True weight loss is a change of lifestyle (sacrifice).  Most refuse to make the change and will continue to go down the same destructive path—year in and year out. 

Spending habits are another aspect of people’s lives that can be very destructive and can even lead to divorce.  Once again, it all comes down to lifestyle and doing without (once in a while won’t kill you).

 I recently checked a person’s credit report and there were collection accounts for jewelry stores, flower shops and electronics.  That person has no business making these types of purchases. However, it is often justified by using the “I’m entitled to” or “I’ll worry about paying if off later” defense.   If all else fails, some use the “why not file for bankruptcy” reasoning. Most of the purchases people make are unnecessary junk that make them “feel good” for about 10 or 15 minutes.   What will it take for people to stop this insanity? 

When it comes to mortgages, how many homeowners took tens of thousands of dollars of equity out of their homes with a cash-out refinance,  spent it on more “junk,” and are now singing the “I can’t make my payment” blues.   Once again, it all comes back to a change of lifestyle.  If a person doesn’t know how to budget, save and eat less food, then how can they possibly teach their children and future generations?

Something’s gota give.

Guild Mortgage – Boise Home loans – Craig Ballhagen                      208-713-3309                        

Idaho First Time Home Buyer Instant Gratification

Request for No Obligation Boise Home loan Analysis

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How many people are living beyond their means?  How close are people to filing bankruptcy? Far too many are just a paycheck away. 

According to Dr. Thomas Stanley, the author of “Stop Acting Rich,” most millionaires are millionaires because they live frugal lives. They have been saving money their entire lives.   The majority of millionaires don’t live in million-dollar homes or drive top-of-the-line luxury cars. 

Any idiot can spend money.   It takes planning and discipline to save for the future.

How will the epitaph of a wasteful person read? “Here lies someone who drove a “Beamer” and lived in a house much bigger than he (or she) really needed.”  Nobody cares what you drive or where you live. 

Being in the mortgage business, I see quite a few credit reports.  Many young people have account after account from stores like Pottery Barn, Macy’s, as well as several jewelry stores.  It’s all about the “bling.”  How much is enough?

If we don’t know how to budget, how can our children learn? We have become a “credit-card” nation, and this vicious cycle must stop NOW!

Show me a household that is upside down and I will show you a family without a budget.  Everyone should have six months’ cash reserves to get them through the tough times and hold them over until another job can be found.

When a family spends their hard-earned money on non-essential items (i.e. junk), it is no wonder the mortgage payment comes up short. 

Take control, set a budget, and get rid of those accounts that mean NOTHING!

Guild Mortgage – Boise Home loans – Craig Ballhagen               208-713-3309        

Idaho First Time Home Buyer Instant Gratification

Request for No Obligation Boise Home loan Analysis

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Who answers your phone every day?  Who greets your customers that walk through the door?

Are they “Sweet” or “Sour”?   How much do you pay for the most important position in your company?

The daily disposition of the person who is first to interact with YOUR customers is critical to a company’s survival.

If you are a business owner who thinks you can “save-a-buck” by hiring “Aunt (or Uncle) Jenny,” you are making a huge mistake.  If you pay this “key position”next to nothing, you will get next to nothing.   I don’t know about you, but when I walk into any business and am greeted by some “bee-otch”, I can’t get out of there fast enough. 

Excuse my French, but it still blows me away when I go into a place of business and see some surly person behind the counter who doesn’t what to be disturbed.  Why does this still happen?  Who knows?

I would rather pay more for a service and do business with someone who really appreciates me, than go with some rock-bottom offer from a grumpy one.  When I call two or three businesses for a quote, I will often go with the friendliest.  

Every business owner knows just how important their “Company Ambassador” is to achieving success.  They know how critical those first words are that come out of your greeter’s mouth.  Are they smiling?  What is their tone?  These small details are oh so important to a customer’s first experience at your establishment.  

A company that I worked for many years ago had an incredible receptionist who answered the phone cheerfully every time. Customers would take the time to mention it at least a couple times a week.  That sure makes my job much easier. 

What a difference a happy, cheerful greeter makes.  Customers will come back again and again when they know a warm, thoughtful person is waiting upon their arrival.

Other posts like this one-

• Mom! What’s For Dinner?
• OOPS! I Just Ate My Mortgage Payment
• Salesperson Rule #1 Answer Your Phone!
• Why Do We Do What We do

Guild Mortgage – Home loans Boise – Craig Ballhagen 208-713-3309

Idaho First Time Home Buyer Instant Gratification

Request for No Obligation Boise Home loan Analysis

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