Protecting Your Good Credit and Your Home

Protecting Your Good Credit and Your Home

Protecting Your Good Credit and Your Home

Protecting Your Good Credit and Your Home

Your house has real monetary value

Your house has real monetary value and the potential to be a source for building wealth for you and your family. Protecting Your Good Credit and Your Home

That’s one reason why you could be the target of scam artists and unscrupulous people who want to give you loans against the equity you have in your house.

Your equity is the amount your house is worth on the market, minus what you owe to your mortgage lender.

Protecting Your Good Credit, Be careful when you get these offers

Be cautious when you get these ideas via the post office, by phone or face to face.

Keep in mind, it took you time and a taught frame of mind to construct a decent record of loan repayment.

and it’s because of that good credit that you were able to obtain the approval on your mortgage loan.

When you protect your credit, you’re protecting your ability to get financing with favorable terms in the future.

If you are thinking about refinancing down the road, helping your kids get a college loan.

opening a new line of credit or making improvements to your home

maintaining and protecting your good credit will help you get what you need, Protecting Your Good Credit.

Prevention Checklist

It is important that you take a conservative approach to long-term homeownership.

Plan for things you need and want and prioritize them.

Be careful with your credit and cash.

You’ll find that being prudent in your planning and spending in the beginning will better position you for a successful homeownership experience.

Remember the following :

Protecting Your Good Credit and Your Home

1- Keep all your documents in a file in case you need to take legal action to protect your property and other assets.

2- Create a spending plan that everyone in your family will follow; be sure to include new house expenses.

3- Start a savings account for unexpected emergencies like extensive home repairs, illness and loss of employment.

4- When using credit, always plan ahead for your purchases. Never make a major purchase on impulse.

5- You need to have a plan for paying off that purchase.

Ask yourself : Do I truly need to purchase this now?

6- Protect your personal information and never share your Social Security number and account information with unknown companies and individuals.

7- Never sign any document you don’t understand, and don’t allow anyone to pressure you into signing any contract you don’t want to sign.

8- Take advantage of free workshops on money and credit management from nonprofit groups in your local community.

The Future Is Now 

Every step you take now to protect your home will return many benefits in the future for you and your family.

Sure, your life as a homeowner will present you with some challenges, but the rewards are many.

And should you get into financial difficulty, help is only a telephone call away.

There are companies and organizations in your area committed to supporting the success of new homeowners like you, because they believe homeownership is good for families and good for neighborhoods.

You should be proud. You’ve achieved the dream of homeownership.