Seattle Real Estate

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Improving Your Credit October 25, 2009

credit-score-chartIf you are thinking of purchasing a new home or refinancing soon, your credit score will play a large role in not only whether or not you qualify but also how high your payments will be. Credit awareness is your first step.

To review your credit report, visit www.annualcreditreport.com. If you find any errors, work to fix them as soon as you can.

Your credit score is determined by several factors: Do you pay on time? Do you owe money on your credit cards? Have you used credit recently? Are you applying for numerous new cards? What kinds of credit have you used?

Essentially, lenders are looking for a consistent pattern of on-time payments. If you don’t already pay all your bills on time, now is the time to start.

Your score is also affected by your debt to income ratio. So you can work to raise your income or you can work to decrease your debt. Whichever path you choose, paying down maxed out cards is a good place to start.

Overall stability helps boost your credit score as well. Changing residences or jobs frequently can put a ding in your score.

If you are planning to apply for a home loan in the near future, avoid other big purchases like cars or boats.

If you’d like more tips on improving your credit, please let me know. I can put you in touch with a consultant who can work with you to help improve your credit score.

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How to fight the property tax assessor August 31, 2009

Filed under: Economy,Good News,Making a Difference — Rolland @ 7:14 pm
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How to fight the property tax assessor: “”

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Remember, that not all municipalities are moving with great speed to correct your home assessment. But, it is your right to challenge the assessment and get it reduced. Contact your agent, they can make this process easier.

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Short sale debt forgiveness not to be taxed January 18, 2009

Filed under: Short Sale — Rolland @ 2:23 am
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Short sale debt forgiveness not to be taxed: ”

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Short sale debt forgiveness not to be taxed
Here’s the rare case of a story that gets resolved before I get a chance to print it.

I recently found out that state Department of Revenue officials had determined debt forgiven as part of a short sale was subject to real estate excise tax. Short sales are where owners who owe more on their mortgages than their homes are worth get their lenders to agree to accept the proceeds of a sale at current market value.

‘According to our interpretation (the tax) is based on what the seller receives,’ Department of Revenue spokesman Mike Gowrylow told me last Friday. ‘What the seller’s receiving is the sales price of the property plus whatever debt is forgiven”

(Via .)

Contact me to help you avoid foreclosure;

Rolland Lawrenz
rolandlawrenz@johnlscott.com
http://www.rollandlawrenz.com