Most people don’t like paying taxes, and many people withhold far more tax money than they need too. That money has been called a tax free loan to the government, but withholding too much money as opposed to not enough may not be as irrational as some people would like to make it out to be.
Many years ago, while in the process of purchasing my first home, I received notice from my mortgage broker that there were some listings on my credit report that would affect my ability to obtain financing for the home.
Up to this point in my life, I had never pulled my own credit report (this was before I became associated with Lexington Law Firm). After getting some pointers from my mortgage broker, I pulled a three-in-one credit report and discovered that there were indeed a couple of 30-day late listings on my report. I did not recognize the creditors and investigated further. During my investigation I found out that my father (who has the same first and last name but a different middle name) was a customer of these previously unknown creditors and had been late with his payment on a couple of occasions. These listings were erroneously placed on my credit report.
Buying a home can be a stressful time full of tough decisions and harsh realities. Many people don’t take proper steps before beginning the mortgage application process. This can result in higher rates, more fees, and can overshadow an otherwise exciting step in a family’s life. Taking a few small steps now to plan for a mortgage later could save you thousands of dollars over the life span of a mortgage. There’s no simple way to guarantee the perfect mortgage rate on the perfect house, but there are a few ways you can plan for success:
Saving money for retirement seems like an obvious necessity, but actually planning for retirement and implementing that plan can be difficult. Current expenses can easily seem more important than planning for your financial future 40 years from now. However, saving a little bit now can go a long way in preparing you for financial independence later.
Once you make the decision to save, where do you save? What kind of accounts are best? The answers will vary based on what your goals are, the amount of money you have to save, and what kind of financial options your employer is willing to offer you. …
Your credit report and has become indispensable to your financial life. Your credit report is used to determine your credit worthiness. Your ability to get a loan for a home, to rent an apartment, to acquire insurance and even to become employed. It is therefore crucial that your credit report is fair, accurate and substantiated. What this means is that you credit report should fairly report the facts that comprise your financial life. These facts should be correct. The credit bureaus who report this information should have taken the time to make sure these facts are correct before they are reported. Unfortunately, this is not always the case. Items are reported that oftentimes do not tell the whole story, are incorrect or have never been checked. In these cases we have a mechanism to remove these listings. This mechanism allows for you to dispute the information with the credit bureaus. …
Our clients saw over 4,800,000 negative
items removed from their combined credit reports last year.