Mortgage and Credit

You can’t buy a home without the ability to pay for it. Usually this takes a mortgage loan.

To obtain a loan, you must apply for it and wait for the lender to determine if you are an acceptable credit risk. They want to know:

1. That you pay your bills promptly.
2. You can afford the amount of debt you are applying for.
3. Your employment history.

It is possible to have a good credit score and still be declined for credit. Handling your credit should be a lifetime project. Over time you can increase your credit score. Improving your score can help you:

1. Get better credit offers.
2. Get better interest rates.
3. Make the approval process happen quicker.

Potential creditors look at your credit report. This report tells them what type of credit you use, how long your accounts have been open and if you pay your bills as agreed.

You should check your credit report yearly. I found a free credit report at www.annualcreditreport.com You should obtain your report and review it carefully. In accurate information can affect your credit adversely.

Well, this has been Mortgage Financing 101. Stay tuned for more information on this subject and Real Estate.

Accounting - Sincce you need it for business, here is a short description.

What Is Accounting Anyway?
by Nan Wood

Anyone who's worked in an office at some point or another has had to go to accounting. They're the people who pay and send out the bills that keep the business running. They do a lot more than that, though. Sometimes referred to as "bean counters" they also keep their eye on profits, costs and losses. Unless you're running your own business and acting as your own accountant, you'd have no way of knowing just how profitable - or not - your business is without some form of accounting.

No matter what business you're in, even if all you do is balance a checkbook, that's still accounting. It's part of even a kid's life. Saving an allowance, spending it all at once - these are accounting principles.

What are some other businesses where accounting is critical? Well, farmers need to follow careful accounting procedures. Many of them run their farms year to year by taking loans to plant the crops. If it's a good year, a profitable one, then they can pay off their loan; if not, they might have to carry the loan over, and accrue more interest charges.

Every business and every individual needs to have some kind of accounting system in their lives. Otherwise, the finances can get away from them, they don't know what they've spent, or whether they can expect a profit or a loss from their business. Staying on top of accounting, whether it's for a multi-billion dollar business or for a personal checking account is a necessary activity on a daily basis if you're smart. Not doing so can mean anything from a bounced check or posting a loss to a company's shareholders. Both scenarios can be equally devastating.

Accounting is basically information, and this information is published periodically in business as a profit and loss statement, or an income statement.

Nan is an Accountant with a Real Estate info and resource site at
RealEstateLady and her blog to provide basic info to the real estate newbie -
BusinessandRealEstateTips

Generosity in business

Generosity in business
by Nan Wood

This is the time of year that you should evaluate where you are. Have you reached your goals for both personal and business objectives this year? If not, why not?

Perhaps you should evaulate how you are treating your customers and employees. A little kindness goes a long way.

If your busines is small, try giving your employees a small gift and a card expressing your thanks for their effort. Send a card with your customer's invoices. You can make them yourself if necessary with a card program and copy them on your printer.

Take time to be thankful.

Nan is a Real Estate professional with an online information site
RealEstate