Gloucester County, NJ Mortgage and Real Estate Blog

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Mortgage and Lending - 1st Colonial Community Bank | Bank - New Jersey - NMLS# 149277 & 149276
Gloucester County, NJ Real Estate Blog: Discussing Mortgages, Real Estate, NJ First Time Home Buyer Mortgages, programs, grants, and down payment assistance, reverse mortgages,100% financing loans and more!

ARCHIVED BLOG POSTS

2008 

I feel like a broken record, but Inquiries are one of the most misunderstood factors of the credit scoring model. Inquiries count for 10% of your overall credit score.  An inquiry is a check on your credit.  There are two types of inquiries, soft and hard.  A soft inquiry is one that does not hur...
10/30/2008
7 Comments
This is one of my favorite daily actions that I have learned over the years, which I believe I learned from the book "Getting Things Done" - by David Allen.  In various places that you work/play/live, keep a few pieces of paper and a pencil to write things down.  Places like your desk, your home...
10/29/2008
What can be better then joining two things like humor and kids?  One of my most cherished moments is joking around with my kids.  Although my 4-year old doesn't get most of them yet, I LOVE joking with my 9-year-old.  ESPECIALLY when she figures out the punch-line like 3 days later.  Or even mont...
10/27/2008
One of the 5 main catagories in the credit scoring model is the mix of credit accounts.  The mix refers to different accounts such as mortgages, auto loans, installment loans, and credit cards.  A person's mix of accounts represents 10% of their overall score.    It is preferable to have a mix of...
10/26/2008
Your credit history accounts for 15% of your total credit score.  History does not refer to payment history.  History is the evaluation of the timeframe that your accounts have been open and active, as in how many months or years. Longer Credit History = Higher Credit Score Long Credit History Pa...
10/25/2008
One of the most misunderstood areas of a credit score is the "balances" part of scoring.  I say that it is misunderstood not because it is complicated, but because people tend to have no idea why their credit score is low, when in fact they are carrying very high balances on their credit lines, a...
10/24/2008
The most important factor regarding your credit score is your payment history.  Your ability to pay your accounts on time reflects 35% of your credit scores.  The credit scoring model certainly wants to know that you are paying your accounts as agreed.  The last 6 months are the most important ti...
10/23/2008
I've worked with clients all across the board.  Some who had "perfect" credit, and some who upon seeing their credit report, found themselves a second job (fixing their credit).  I'll help you understand what makes up a great credit score, and how to alter any situation to improve the credit scor...
10/22/2008
3 Comments
Some food for thought.  Some of these are like Willy Wonka's candy; a full course meal in one little bite. Government's view of the economy could be summed up in a few short phrases: If it moves, tax it. If it keeps moving, regulate it. And if it stops moving, subsidize it. -Ronald Reagan I conte...
10/21/2008
2 Comments
If you are like me, then you love a good joke or story.  Hope you enjoy... Kid's Humor (I learned this one today while watching "Franklin" with my kids ...) What did the frog say when returning his books to the library? Read it, Read it, Read it. True story #1 (I have a wierd sense of humor, but ...
10/16/2008
Rainer
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Richard & Carol DeGrace

Mortgage Loan Officers NJ 609-209-3700
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