Golden Valley, Remax, Sierra Pacific discussed on Red Hot Real Estate Show

Automatic TRANSCRIPT

If you what do the red states show here on my talk one oh seven one I'm mission and maybe showing a man from remax results is with us Shelly fares from Sierra Pacific mortgage is here been talking about some away some of the ways to debunk some of those credit miss but before we get back to that I know we got a red hat house of the week is shown a man you're over my neck of the woods what do you have for us this week our hot today eighteen no one when that Avenue north and the beautiful city of golden valley yes yes the west side so this house is fantastic I'm not even going to kid you it is so perfectly situated to dining shopping schools parks you can even walk to a farmer's market and close to medicine lake if you know where that is yes and it's perfectly situated for easy commutes to downtown and all the neighboring cities close to buses if you don't want to drive then and this one is a split entry but it doesn't feel like it feels like a two story because when you walk in you've got this expansive landing so your four year is huge tall ceilings it's unbelievable and when you walk up to the upper level it's got a beaut beautiful open floor plan and it's got an updated kitchen with beautiful floors clean white cabinets stainless steel appliances in the restrooms are lovely as well about those things yeah bathrooms are beautiful and there's three of them and they got all this updated tall work just like you were living in a hotel or something so you definitely want to check that out it's got to wood burning fireplaces so you can cozy up this winter and it's got a dining room a separate one off of the kitchen too nice living rooms one I'm on the top and one in the basement and the master is absolutely massive it's huge and it's got beautiful open windows it's got an area for a vanity and a walk in closet and also a private on sweet full bathroom absolutely amazing if you have those those teenage kids were you just kind of want to go you live here but we don't live on top of each other that's what I feel like this yeah you're good like a cigarette Frederator in that back tat betterment it's awesome for real and you've got to check it out we got it affordably priced at only three fifteen and you definitely want to go to our show page and check out the link for that it's eighteen oh one when that K. Avenue north in golden valley in an estimate for a monthly payment for that would be right around seventeen hundred dollars wow and so when you go to the link you can are actually also check out the drive time calculator and that will tell you how long it would take to go to work from a different time depending on what time of day you leave and so lots of other good information including a market mortgage calculator we have we encourage you to call Shelly and get that mortgage calculator out of her brain right here she's going to give you a hundred dollars to do it right right be sure and check out this beautiful home and that is our red hot house of the week well I've been talking about some debunking some credit myths and so I think that we don't really understand how quickly we can affect our credit and make it go up or go down you think that you're right I think that you go all well if I do this room we if you pull my credit is immediately going to go into the basement and be in the toilet and so that's all we know is how to make a bad right but we don't understand how quickly it can get better if we have this the council of someone like you should absolutely yes that you're exactly right about that people think that it's stagnant I had my credit pulled two years ago and was terrible so I'm destined to run forever well you know no no no no no no no no okay how it works so I do get a kick out of there is a commercial around for one of those credit apps right now where they have this boost thing apparently where they pull up their little app and they just hit this little button and it boosts their credit for things that would really work I wish there was a lot of those buttons and things in my life yeah yeah on my phone button button but kids won't eat dinner yeah but who's going to clean my bathroom but normally does not it does get better is just not necessarily that easy right right exactly so so you know when people say things to me like all my credit was terrible then I'm just destined for you know bad credit you know I I remind them that the it affects everything your credit score affects what kind of car loan you're going to get how well how much you're gonna pay in car insurance what it just affects everything what kind of credit card you're offered everything it affects everything so you need a good score so that I can help you get a good score because did you know that it changed every month based off of like what you all and what your credit mix is and how much you owe on that credit card versus what the limit is and then if you pay that down the next month now it's a whole new number because it's new information that it's assessing let's talk about that so let's just say that you've got a credit card with a ten thousand dollar limit and you have a habit of maxing it out and then paying it off is that good or bad so on you know I'd like to do this will not Max it out but you know I dig the points that's what I'm after I'm going to points points but if the if you Max it out and then pay it off and then Max it out and pay it off you're really not telling the credit bureaus that you know how to manage debt you're telling them that you know how to Max it out and pay it off when I it's not really managing that so what I'd suggest that to that person you get it and where the problem comes in our back up real quick is that depending on when I pull that credit report in the months are you maxed at that moment or had you just paid it off right in the middle where are you at with so it doesn't show like a longevity of rate too so most people would think you know I have the ability to pay that off some golden exactly so it's not necessarily gold and it depends on when you pull exact right time to do that so so your payments due on let's say the fifteenth and it takes about five days to pull so let me get you do like any kind of calculated timing of this it's great I love it yeah I know so not really I mean okay because every credit card reports at a different date of the month to the credit bureau so it depends on when that rip and information is reporting what I generally tell people is if if I happen to pull it and you owed nine ninety nine on that ten thousand card or whatever then I tell them okay here's here's what I want you do is you know you're just paying it off anyway every month so the next thirty days let's live on more of your cash instead of on your credit like you're used to doing then as we get closer to the end of the month when we see that your balance is closer to the bottom verses the top will pull then okay and then we're going to have a better and you know I can even do a simulation in my credit bureau toolbox it lets me say okay he only owes three thousand on the credit card now what with the score be pushed the button right next or have a but yeah but it's also I guess that that part of that so and they're the reason why it's kind of counter into it is that part of the reason why we get these credit card deals is I want to rack up as you said I want these points I get these perks to get this bonus for doing these things and so you forget that is like okay for a little while I need to re train myself right because the park I get is that I get to get a better rate on a home loan that's right if I don't get these things and maybe I won't get as many you know discount points examine why Bob Paul McCartney tickets right or something but it's like what do you actually give a credit report it's good for four months okay go back to regular life I can't not like you don't get to use that credit card I think that's another day bog people okay thank all my gosh I'm so used to using my credit card every month and if if I try to buy a house there she's gonna tell me I can't credit cards and now I'm song okay no no no no but wouldn't it be great to actually know what you need to do as opposed to just guessing that's what I'm saying to myself it's like yeah I can kind of do all the Google research I once but would be nice to just have a finite plan right from somebody who's been doing this for many years as an expert by calling Shelley and get your hundred dollars for an hour he makes that and I think that that's always weird too because a lot of times we don't even like I'm glad you said it that way Mimi because it doesn't even occur to us we're guessing we don't know we are not experts in this we think we know and then you're getting yourself in hot water because you think you know yeah can you really tell that's right yep and when I Google that problem that I think I have it said this while that might not have been the right thing to do depending on what you're right above that so you have to you have to let me do that zero first program where I do the soft credit poll because I can not only then see what's wrong but I can tell you what to do and that's what the apps don't tell you and that's what the Google doesn't tell you directly specifically to your situation this is what you need to do well we appreciate you being part of the red hot real estate show you can always call us at six five one six four one one oh seven one especially today you can call and get your credit questions answered by saucier Pacific Pacific mortgages Shelley Ferris and we do have Tatiana on the line Tatiana thank you for calling that's not gonna you have a question about your credit is that correct yeah okay so wowhead Shelley and Mimi are here to help okay I have a question I've been looking online never got it the answer about why you're mark on your credit right because that would require a credit score drop significantly is actually making remarks come that is an excellent question time Jenny I **** I get that a couple of times a month and I've been doing this for thirty years hi I've heard that question all locked and here's what it is I will straight up answer your question that trade line right now at the end that's what we call it a bad debt is a trade line on on your credit bureau is showing negative what is showing negative with a long time ago date on it okay so you're so maybe that derogatory credit happens two years ago and you all four hundred dollars so if you go ahead and pay off that four hundred dollars the death part goes to zero but the date gets updated to today and that's the part that pulls your score down isn't that illogical I mean it is so not rational not logical that's credit world that is exactly great world so you can you still do some of that stuff right you still going to do that stuff or you can't recover so don't focus so hard on maybe the fifty points are seventy five points that you'll lose by paying the derogatory if you're not going to do something immediately and focus more on what you're going to do to keep the good part of your credit going to have good credit.

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