John's Florida Real Estate Blog

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Home Buyers Must Understand Their Credit Situations & How to Improve Them

Today we are in a bit of a mess economically here in the United States, as are many other countries. Zephyrhills, Florida is no exception. Part of the problem is a clogged-up credit system. Money is not flowing as freely as it used to. In past decades most deals took place on a cash basis. For better or worse, today it is credit that moves the economies everywhere. Without good credit and the flow of borrowed funds, things grind to a halt. How many people could buy a $200,000 home or even a $12,000 car for cash today. The vast majority of us finance these purchases.

It is sometimes surprising that many people do not understand how the credit system works in general. They also do not understand how their own personal credit history can help them or hurt them. A good credit profile makes more money available at lower interest rates when you need to borrow it. However, it can also make security deposits to utility companies unnecessary, get you cheaper insurance premiums, and much more. A bad credit history or no credit rating can do just the opposite.

So what can you do to fix things? The non-profit Fannie Mae Foundation has created a brochure called "Knowing and Understanding Your Credit" that can provide you with some of the answers. To download a copy, just click on the following link: Download Knowing & Understanding Your Credit

If you want more information concerning this topic you can call me at: 813-783-4444 or e-mail me at: jelwell1@tampabay.rr.com  I also invite you to stop by my webpage at: www.jelwell.century21bnr.com

John Elwell - REALTOR

CENTURY 21

Bill Nye Realty, Inc.

813-783-4444

Licensed in Florida

 

Comment balloon 0 commentsJohn Elwell • June 15 2009 10:58AM

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