Do you ever forget things? Like the one item you went to the grocery store for, only to come out with a cart full of items and you forgot the one item? Or other things like paying your bills on time. We all know that not paying your bills on time will hurt your score, but there are other ways that you can do that will hurt your score.

1. Late Rent Payments – Your rent payment is normally due on the 1^st of the month, and your landlord may have a grace period of a couple of days. You may think, “The landlord wouldn’t care if I am a couple of days over the grace period”, but that is not necessarily true. Did you know your landlord can pay to report your payment history to the credit bureaus? Yes, some landlords will take this route if you are late on your payments. So to avoid a negative score, pay your rent on time.
2. Ignoring Fines – You may have a fine for returning or losing a library book, or you were 2 minutes late on the meter and gotten a parking ticket. You might not have the money or refuse to pay the fine, but did you know that those fines can add up and be reported to the credit bureaus? Your fines can be tallied up and sent to a collection agency. From there, the collections agency can report your outstanding amounts to the credit bureaus. So don’t make your problems worse by not paying your fines off in a timely manner. They are able to haunt you for a long time.
3. Medical Bills – Unpaid medical debt is the number one reason why Americans today file for bankruptcy. To add insult to injury, if your medical debt is large and you have to file for bankruptcy, that damage can take a toll on your credit score for a good decade.
4. Applying for credit – Your credit report gets pulled whenever you apply for any line of credit. However, if you have a large number of inquiries over an extended period of time, it shows the lender you are desperate for credit. However, inquiries within a 14-day period will appear as one inquiry. If you want to compare options by pulling your credit score, do them within a 14 day period to limit the damage on your credit score.
5. Financing – With the holidays approaching, advertisements might to sell you to finance your brand new 4K TV with 0% interest rate or you can finance Jimmy’s new video game system with 0% APR for the next 2 years. Now, as tempting as this offer sounds to all of us, it might not be the best option for you. Why? Financing a purchase will open up a line of credit for that exact amount. When you make your monthly payments, you will increase your debt utilization ratio. Anytime you finance, the loan is looked at to the credit bureau as a “loan of last resort”. Oh… and “Loan of last resort” is our next and final topic!
6. “Loan of last resort” – Let’s face it, life happens. Your car could break down randomly and it requires a costly repair, or you have a home repair that requires a chunk of change. If life little mishaps just happen to fall on your lap, you are able to take a payday loan to help pay for the repairs and such. However, these types of loans with store financing are frowned upon by other lenders and it could impact your score.

So, as you can see, simple small mishaps or “forgetfulness” can hurt your credit score. For questions on how much it could hurt your score or how it could hurt your eligibility to buy your home, visit us at mortgages for champions.

The national average credit score is 695 and half of consumers fall in the desired 700-plus range. You can get a mortgage with that score or even lower, but you need a score of 740 or higher to get the best rates. While credit history isn’t created overnight, there are some things you can do to improve your credit score quickly.

1. Pay down your debt/balances – The amount you can borrow versus the amount of debt you are carrying over can affect 30% of your credit score. If you have the cash at hand, try to time your payments before the creditors send in their reports. If you don’t know when they are sending them in, you can call them up and ask. You want to try to lower your debt carrying over before the date of the report. The results will be shown in about one month.
2. Get a handle on your bills and pay them on time – We’ve all heard it, pay your bills on time and the reward at hand will be a good credit score. However, we all slip up and we may be late once in a while. If you are already late on a payment, make that payment A.S.A.P.! If you normally pay your bills late and you start paying on time, you will see your credit score rise in a month or two. Also, if you are less than 30 days late, you should make a payment before the 30 day mark! Creditors don’t typically report late payments until after the 30 day mark, so try to control the damage as soon as you can!
3. Open a new account – When you open a new line of credit, your total outstanding line of credit will go up and the utilization will improve as well. Also, having multiple lines of credit will show the credit bureaus that you can juggle different kinds of accounts. However, don’t go credit card/loan opening happy! Try an additional one at first. If you apply to every line who asks you to open a new card, you will take a hit on the number of recent inquiries and that will not look good to the credit bureaus since it shows you are desperate for more money.
4. Become an authorized user – Do you have a responsible family member or significant other? If you become an authorized user on their accounts, their good credit history will be piggybacked onto yours as well too. Their good credit history will immediately show up on your report. If it’s old, established history, it will also increase the average age of accounts you’ve managed that will increase your score. However, be careful on who you piggyback with. Just like their good credit history will show up on your account, their bad history and high debts will also show up as well! You will be able to see the results immediately when you perform this task.

Think these tips will help you get a better rate on your mortgage? Do you make it to the national average or are you so close to that 740 mark? Give us a call and let us help you out.

Since 1863, Americans have celebrated the last Thursday of November as Thanksgiving. Thanksgiving have always been a tradition of a warm get-together with family and friends over a fresh turkey meal, with homemade sides like mashed potatoes, green bean, casserole, stuffing, cranberry sauce, and you finish the night out with a nice warm slice of pumpkin pie or apple pie. However, there is a lot more to the average thanksgiving story. Here are some fun Thanksgiving facts to keep in the back of your mind when you enjoy your meal or watching the football game with your friends.

1. 46 million – You’ve read that right! That is the average amount of turkeys that sacrifice their lives to be the centerpiece of our Thanksgiving meal. If the average turkey weighs about 16 pounds and were to be sold at 91 cents per pound, America spent $670 million a year on turkey alone. This includes the turkey that is pardoned at the White House each year since 1989.
2. There are 4 U.S. towns that have Turkey in their names: Turkey Creek, Arizona; Turkey Town, North Carolina; Turkey Creek Village, Louisiana; and Turkey City, Texas.
3. The average cost of a 10 person Thanksgiving meal is $50.11 per person. Also, the average person consumes 4,500 calories that night alone (3,000 from the meal and 1,500 from the cocktails/snacks/drinks), which would take an average of a 6 hour run to burn off those calories alone! Maybe we should pass on the second helping of mashed potatoes…
4. The average amount a Thanksgiving weekend shopper spent between Thanksgiving door busters and Black Friday deals was on average $299.60. That accounts for 1/3 of the average person’s holiday budget ($953) for the holidays. However, despite the deep discounts and sales, keep in mind that Americans racked up more than $52 billion in debt during the final three months of the last year. Some experts are expecting us to be in bigger financial debt from this year!
5. Nearly 90% of Americans drove at least 50 miles from home to go to their Thanksgiving destination.  If you are driving, please be careful of the road condition and also be responsible as well too!
6. If you are going to cook this year, please also be careful when you are cooking. An average of $28 million in property losses occur each Thanksgiving that are caused by home cooking fires. So enjoy the football game! Laugh with your love ones and friends. However, make sure you keep an eye on the oven as well too!

Which one of these facts is interesting? Anyone of them surprised you? We also wish you and your loved ones a wonderful and Happy Thanksgiving as well!

Home Maintenance Tasks That Should be Done in November

Good news: it’s November! Bad news: December is coming around the corner! December welcomes cold weather, snow, and shorter days. However, is your home prepared for the winter season? If not, this month is the best time to maintain your home. But what should you do to prepare for old man winter?

1. Weatherproof the house – Take a look around baseballs, wall/ceiling junctures, windows and doors, lighting fixtures, switches, and electrical outlets. See if there are any cracks that would let your heat escape and allow the cold air come in. To spot big cracks in the places, turn off your lights in your place and ask a friend to shine a bright flashlight around the doors and windows. If you see the light peeping through, you have a big crack. To find smaller cracks, light a candle or incense stick and pass it around the potential areas. If you see the flame or smoke making waves, then you found a leak. If you find any leaks, you can seal gaps with caulk. For bigger cracks, call your handyman and have him install weather stripping.
2. Service the HVAC system – You want to make sure your heating system is running during the cold winter season while saving money on your energy bills. You yourself can unclog and clean the HVAC grills in a dishwasher (however, we recommend doing this WITHOUT any dishes in the washer). You should also dust around the HVAC system as well as change the filters every couple of months. However once in a while, you might want to hire an HVAC expert to inspect and tune up your system. They will be able to check the controls, lubricate moving parts, and make sure that there is no carbon monoxide leaking out.
3. Clean dead leaves – Not only are dead leaves on your lawn are an eyesore, but they can also kill your lawn! So how do we tackle this? Rake your dead leaves and bag them to be removed!
4. Clean patio furniture – Got dirt and grime on your patio furniture?  Now is the best time to clean them or else in the spring time they will be frozen on and much more difficult to remove. A simple bucket of water with soap and a scrubber can do the trick or run a power washer onto the furniture for a quick clean. Make sure everything is painted and clean.
5. Secure your home from pests – Just like you, critters like rodents and bugs want to be in a warm environment. Your attic is the perfect winter retreat for them. Check to see if the roof tiles are damaged, if the attic vent is damaged, or if there are any holes in the house that would be flashing a “welcome” sign to unwanted guests. If you do happen to find any holes or entrances for critters, you can hire a reliable handyperson or painter that can patch your home’s exterior. That is, unless you really want your unwelcomed guests to live with you and your family.

Now if you follow the list, your winter season will be nice and cozy with very little hiccups down the road. For more tips and information,  visit us at Mortgages For Champions or contact us at 973-577-7008.

Only YOU can prevent home fires

The National Fire Protection Association (NFPA) reported that there are more than 360,000 home structure fires each year which adds up to about $6-8 billion dollars in damages each year. The main cause for fires can be started by daily activities that no one thinks about. So to prevent a fire, you could hire guards with fire extinguishers to watch each room 24/7 secret service style, or you can take a look on what can actually start your common fire and how to prevent them in the first place.

1. Candles – Candles can bring us a wonderful, romantic atmosphere, but they are still dangerous since you’re dealing with an open flame. NFPA reported that an average of 10,630 fires in the U.S. that were started from candles alone in one year. That is an average of 29 candle fires per day and caused 115 deaths, 903 injuries and approximately $418 million in property damages. They start to begin with because they are left unattended or they are placed closed to objects that are flammable. To prevent an accident, keep lit candles at least 12 inches away from any object that are flammable. Also, do not leave lit candles unattended since a simple bump on the resting object or candle itself can cause the candle to knocked down or your pet cat or dog can walk up to the lit candle and accidently shed their dander on it to ignite a fire.
2. Smoking – With an average of 17,600 related fires per year that results in an average of 490 deaths and $516 million in property damage, smoking is a dangerous hobby or activity one can take on. It only takes one hot ash from the object to fall on a flammable object to start a fire. The best way to avoid starting a fire from your hobby is to take the hobby or activity outside. If you decide to smoke inside, please make sure to use a sturdy ash tray for the ashes and to put the butts in. Also avoid smoking while tired so you won’t fall asleep with a lit cigarette and have it fall.
3. Electrical – When it comes from overloaded circuit or an overheated light bulb, electrical fires can cause around 47,700 home structure fires a year which equals to about 418 deaths, 1,570 injured victims and around $1.4 billion in property damage. A couple of simple items and daily activities can prevent the fire to begin with. First, make sure you are using the right cord for the right job – indoor cords for indoor use and outdoor cords for outdoor uses. Avoid crowding and overloading electrical cords, and at Christmas time, don’t leave your Christmas lights on when it is unattended. Is it also time for a quick inspection as well? Having a licensed electrician to inspect your home in general can also save you the headache of a fire to start to begin with.
4. Children abuse of fire – Children caused around 7,100 home fires per year and approximately $172 million in property damage. It’s mainly younger children who tend to start the fire because they misuse matches and lighting devices that can start the fire. Start teaching your children at a young age how to use matches around you and what a fire can result in. Parents are also advised to hide their matches and any lighting devices and keep them out of reach.
5. Cooking – The oven alone can be a fire hazard itself! Cooking fires have contributed up to 40% of all house fires, an average of 156,600 fires per year and resulted in approximately $853 million in property damages. To prevent a kitchen fire, make sure you do not leave food being cooked unattended. If you happen to see a fire forming in the kitchen, know the right way to extinguish it. The best way to get rid of cooking fires is to suffocate the fire from oxygen. For grease fires, smother the fire out by putting a lid on the pan and for fires in the oven, shut the oven off and then close the oven door until the fire dissipates. DO NOT ADD WATER TO THE FIRE as they can make the situation worse.

Keep these tips in the back of your mind will help keep you and your family safe. Remember, the common house fire can add up to property damages, injuries, and the worst: you and your family’s safety and lives. Remember the motto from the boy scouts: always be prepared! Have a smoke detector with working batteries on each level of the home and have a fire extinguisher available that’s always within reach for emergencies just in case a fire happens to start. Isn’t your life and your family lives worth it overall?

Super Bowl 2017 – New England Patriots vs Atlanta Falcons

For a little over 50 years, people gather around to watch the one game that will determine which division of the national football league will be the ultimate champion for the season: The National Football Conference (NFC) or the American Football Conference (AFC). It’s one of the most watched sporting events in the world, and a great reason to gather with friends and family! With Super Bowl 2017 coming up soon, feel free to drop these fun facts to make you look like the smarty pants at the bar or home.

1. The first two Super Bowls were not even known as the Super Bowl. They were called the AFL-NFL World Championship Game. It wasn’t called the Super Bowl until the 3^rd
2. Roman numerals are normally used to identify each game. The one exception to this rule was Super Bowl 50. But why did they go with Super Bowl 50 and not Super Bowl L? Because when the league tried to make the logo, the “L” didn’t work out and decided to use numbers.
3. Super Bowl I and II almost didn’t exist. Back in 1967 and 1968, the big game was not broadcast live. So when they taped the games, someone made a mistake and recorded over the taped game with soap operas! However, they could always defend on their fans as one of them have recorded it and handed it over to them.
4. It pays more to win the super bowl than to lose. While each one of the players on the winning team takes home $97,000 each, each person on the team that didn’t win (or we can say it… the losing team) takes home $49,000
5. To date, the Super Bowl has never been able to reach overtime. Many have come close though!
6. Americans all together drink an estimated 325.5 million gallons of beer and devour 1.25 billion chicken wings on Super Bowl Sunday!
7. With all the food and drinks being devoured on this day, it also marks the 2^nd largest day for food consumption in the USA, falling behind Thanksgiving.
8. Hall of Famer, Charles Haley, holds the record for the most Super Bowl wins when he was the pass rusher for the 49ers and the Cowboys. He has 5 rings for each win; a ring for each finger. The ring alone also costs around $5,000, which makes Charles wearing around $25,000 on his one hand alone.
9. The team that hosts the Super Bowl has NEVER played in that game as well! Will the Minnesota Vikings break this record next year when they host Super Bowl LII?
10. Are you planning on being “sick” after the big game? You and 1.5 million people are estimated to call out on Monday. The boss might suspect something is going on.

This year, millions of us will be watching to see if the New England Patriots or the Atlanta Falcons will bring home the trophy. Are you on AFC or NFC? Should Brady get his 5^th ring this year or will Ryan steal it from him?