Our Blog


Take Control of Your Future: Tackle that Mortgage Like a Pro

Money is a necessity that can either be used for good or used for evil. Each of us does what it takes to earn money for our families and hopefully not just stay afloat but prosper and create secure futures for those we love. For millions of people, living from paycheck to paycheck is a reality and because of this dreaming about that white picket fence and stunning property can seem like a distant, unobtainable dream. No matter how grey the future looks today, there are many ways to reach your goals – even exceed them. No one has to be financially stuck.

Now is the Time to Buy – Or Make Changes

These days, homes aren't what they used to be. With so many people on the market competing for buyers, it's no wonder prices have dropped to an all-time low. If you can find a way to make that down payment, maybe by borrowing from a loved one or getting a loan, there will probably never be a better time. Stretching your comfort zone a little now could mean huge savings in the future and that home you've always wanted. Taking the plunge and buying a home is always intimidating but if you do your research and speak closely with your financial advisor, you have absolutely nothing to worry about.

Maybe you find yourself in a situation where your monthly mortgage payments are stressing your bank account and extending your budget. Going negative or breaking even month after month is a recipe for disaster. One way to get that on lock is by beginning discussions about refinancing. Companies want your money and they definitely don't want to be faced with trying to sell a home in today's market – people simply don't have the money to make the purchases. While this is bad for the banks, this offers a great opportunity to you and your family.

Keep Your Eyes on Credit

In order to stay afloat, many people have put their credit scores on the line. By doing this, you are making it extremely difficult to get into an apartment, let alone a home. Even if you need to ask for extensions, do whatever you can to pay your bills on time. If all you can make is the minimum payment on your credit card, that is far better than paying late or not paying at all. Find out from all companies you do business with when late payments hit your credit. Oftentimes, as long as you aren't 30 days late, your credit report won't display any problems. However, staying in good standing with companies you plan to work with in the future is important.

Making minimum payments is a fantastic start but if you aren't making progress with your interest then you are going to be in the same boat for a very long time. Focus on the debt that is most harmful to you (like that high-interest, maxed out credit card) and put any additional money you can scrounge up on it. It's amazing what an extra few dollars a month can do to that nasty interest. Get your credit back in check and your financial future will be even brighter.

by Benson Mortgage
in Mortgage