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Newsletters>
MPR Newsletter #5
May 10, 2008
Ways to Thrill Mom on Mother's Day
A mother is someone who looks after you, takes care of you when you are sick and is always there to show you just how much she loves you. Every May, we celebrate our love for mom with Mother's Day and, although we don't always know just what to get that could possibly express our gratitude, it is possible to surprise your mom with something special.
All That Sparkles
Every woman loves to shine and jewelry is always a favorite. Instead of just browsing the jewelry counter and picking out the first thing that catches your eye, look for that special item that says something about her personality. Does she like to shop? Perhaps a charm bracelet featuring a shopping theme would be ideal. If you want to let mom know that you are with her always, consider giving her a heart locket and placing a photo of you and mom inside. You can also engrave certain types of jewelry for a truly personalized gift.
Just Relax
Every mom wants to relax. Afterall, she spent many years working hard to make sure that you had everything that you needed, so isn't it time that she kicks back and relaxes on her special day? You can thrill your mom on Mother's Day with a vacation that includes a spa weekend, a short cruise or other favorite pastime that she would enjoy.
May I Take Your Order?
If you are looking for the perfect way to surprise mom, try cooking her favorite dinner and serving it up with her favorite dessert. Best of all, make sure that you let her know everything is taken care of, including the clean up. After all, this is Mother's Day and it wouldn't be complete without a little pampering.
Time is Precious
If you really want to make your mom happy on Mother's Day, spend some quality time with her. It's always nice to give a gift, but nothing can take the place of spending time with those who you love. Go shopping, watch a movie or just go out to dinner together. Whatever you do, make time for your mom.
Buying a Home with Past Credit Problems
Buying a home can be both exciting and stressful but, for those with past credit problems, the process may also seem intimidating. The good news is that many lenders have adapted to the idea that many hopeful homeowners simply need a second chance, which means that past credit problems no longer have to define your future.
Credit Blemishes
When life unexpectedly takes a turn for the worst, it's not always possible to come out without a few bumps and bruises. Every day, people are faced with late or missed credit card payments, mortgage foreclosures, bankruptcy proceedings, auto repossessions and even civil judgments that will affect their credit reports for years to come. Whether it's from a job loss, injury or just a simple case of temporary hardship, credit blemishes are often a part of life. The good news is that they no longer have to prevent you from becoming a homeowner.
Give Yourself a Little Credit
After experiencing a credit problem, most lenders will want to see an attempt to rebuild your credit through a steady payment history with a new account. This can be accomplished by applying for a credit card and maintaining a responsible use of the account. If you aren't approved for an unsecured card, you can always apply for a secured credit card. Either will rebuild your credit over time and will help to show lenders that your past credit problems are just that - in the past.
Clean Up Your Credit Report
Before applying for a home loan, make sure that you check your credit report from each of the three major credit reporting agencies. Every 12 months, consumers can request a free copy of their credit report from Experian, Equifax and TransUnion. If anything is incorrect or found to be inaccurate, filing a dispute with the credit reporting agency can help to get the information corrected before speaking with a lender.
When you apply for a home loan, the lender will access your credit report for the purpose of determining your creditworthiness. In an effort to ensure that you have the best possible chance at being approved for the loan at the best possible interest rates, making sure that your credit report is accurate is a must.
Save Up for a Down Payment
Some homebuyers often qualify for a mortgage with down payments as low as five percent (three percent for FHA loans), but those with past credit problems may be required to shell out up to 35 percent or more for a down payment on their new home. A buyer who pays a larger down payment obviously has more vested interest in the home and may, thereby, be less likely to default on a loan. If you have past credit problems, check with your lender about specific down payment requirements and start saving!
Creative Financing Options
If you've exhausted all of your conventional efforts and are still turning up empty, don't give up just yet. Alternative financing is an option that many homebuyers use to purchase a home. Your REALTOR® can provide you with details regarding any lease purchase and/or owner financing properties, which may require no credit check, no bank qualifying, a low down payment and competitive interest rate options.
   
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