These items can be removed from your Credit Report:

These negative items include (but are not limited to):

Late Payments
Charge Offs
Collections Accounts
Foreclosures
Identity Theft
Excessive third-party inquiries
Bankruptcy
Tax Liens
Repossessions
Judgments - Call 1.800.442.1591 for your FREE Consultation

Small Business Health Care Tax Credit and the SHOP Marketplace

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If you are a small employer, there is a tax credit that can put money in your pocket. The small business health care tax credit benefits employers that: Have fewer than 25 full-time equivalent employees Pay average wages of less than $50,000 a year per full-time equivalent (indexed annually for inflation beginning in 2014) For tax years 2015 and 2016, the inflation-adjusted amount is $52,000 Pay at least half of employee health insurance premiums To be eligible for this credit, you must have purchased coverage through the small business health options program, also known as the SHOP marketplace. For information about insurance plans offered through the SHOP Marketplace, visit Healthcare.gov.

Five Ways to Offset Education Costs

IRS Tax Tip 2010-30

College can be very expensive. To help students and their parents, the IRS offers the following five ways to offset education costs.

1. The American Opportunity Credit This credit can help parents and students pay part of the cost of the first four years of college. The American Recovery and Reinvestment Act modifies the existing Hope Credit for tax years 2009 and 2010, making it available to a broader range of taxpayers. Eligible taxpayers may qualify for the maximum annual credit of $2,500 per student. Generally, 40 percent of the credit is refundable, which means that you may be able to receive up to $1,000, even if you owe no taxes.

2. The Hope Credit The credit can help students and parents pay part of the cost of the first two years of college. This credit generally applies to 2008 and earlier tax years. However, for tax year 2009 a special expanded Hope Credit of up to $3,600 may be claimed for a student attending college in a Midwestern disaster area as long as you do not claim an American Opportunity Tax Credit for any other student in 2009.

3. The Lifetime Learning Credit This credit can help pay for undergraduate, graduate and professional degree courses – including courses to improve job skills – regardless of the number of years in the program.  Eligible taxpayers may qualify for up to $2,000 – $4,000 if a student in a Midwestern disaster area – per tax return.

4. Enhanced benefits for 529 college savings plans Certain computer technology purchases are now added to the list of college expenses that can be paid for by a qualified tuition program, commonly referred to as a 529 plan.  For 2009 and 2010, the law expands the definition of qualified higher education expenses to include expenses for computer technology and equipment or Internet access and related services.

5. Tuition and fees deduction Students and their parents may be able to deduct qualified college tuition and related expenses of up to $4,000. This deduction is an adjustment to income, which means the deduction will reduce the amount of your income subject to tax. The Tuition and Fees Deduction may be beneficial to you if you do not qualify for the American opportunity, Hope, or lifetime learning credits.

You cannot claim the American Opportunity and the Hope and Lifetime Learning Credits for the same student in the same year. You also cannot claim any of the credits if you claim a tuition and fees deduction for the same student in the same year. To qualify for an education credit, you must pay post-secondary tuition and certain related expenses for yourself, your spouse or your dependent. The credit may be claimed by the parent or the student, but not by both. Students who are claimed as a dependent cannot claim the credit.

For more information, see Publication 970, Tax Benefits for Education, which can be obtained online at IRS.gov or by calling the IRS at 800-TAX-FORM (800-829-3676).

According to the CFPB, TransUnion’s misconduct had occurred since July 2011. It occurred between July 2011 and March 2014 at Equifax.

Neither TransUnion or Equifax have admitted or denied the allegations,Fortune noted.

TransUnion spokesman David Blumberg and Equifax spokeswoman Ines Gutzmer said their companies believe they’ve followed the laws that have been put in place regarding the matter.

TransUnion and Equifax are among several companies that receive a great deal of consumer complaints, according to the CFPB.

According to the CFPB, TransUnion’s misconduct had occurred since July 2011. It occurred between July 2011 and March 2014 at Equifax.

Neither TransUnion or Equifax have admitted or denied the allegations,Fortune noted.

TransUnion spokesman David Blumberg and Equifax spokeswoman Ines Gutzmer said their companies believe they’ve followed the laws that have been put in place regarding the matter.

TransUnion and Equifax are among several companies that receive a great deal of consumer complaints, according to the CFPB.

Mortgage Applications Plunge 12 Percent as Rates Slip

Mortgage applications decreased 12 percent from two weeks earlier as borrowing costs on home loans eased from more than two-year highs, according to data from the Mortgage Bankers Association.

The results included adjustments to account for the Christmas holiday.

The Washington-based industry group said its Market Composite Index, a measure of mortgage loan application volume, decreased 12 percent on a seasonally adjusted basis from two weeks earlier. The Refinance Index decreased 22 percent from two weeks ago.

Interest rates on 30-year, fixed-rate conforming mortgages, the most widely held type of U.S. home loans, averaged 4.39 percent, down from the prior week's 4.45 percent which was the highest since April 2014.

Conforming mortgages are those with balances of $417,000 or less and qualify for guarantees from federal mortgage agencies Fannie Mae and Freddie Mac.

Interest rates on other types of mortgages were unchanged to 0.13 percentage point lower on the week.

Domestic home borrowing costs retreated along with a drop in U.S. bond yields as investors scooped up U.S. government debt at year-end following a global bond market selloff triggered by worries about a surge in inflation and federal borrowing under a Trump administration.

In early trading on Wednesday, the benchmark 10-year Treasury yield was 2.45 percent. It had hit 2.64 percent on Dec. 15, which was its highest since September 2014, according to Reuters data.

A pullback in mortgage rates buttressed refinancing activity at the end of 2016.

MBA's refinancing index was up 1.7 percent at 1,132.0 with the refinance share of overall loan activity rising to 52.2 percent from 51.8 percent the previous week.

The group's measure on loan applications to buy a home, which is seen as a proxy on future home sales, dipped 1.4 percent to 228.0.

DO NOTHING, EXPECT NOTHING... Errors are bound to appear in your credit report. In fact, according to a 2004 report made by the National Association of State PIRGs (Public Interest Research Group) 25% of credit reports contain errors that result in people being denied credit! If you don’t review your report once in a while, you won’t know what’s reported in it. And then, when you apply for credit or employment and find that you are denied because of your credit, well… what do you expect?

The bottom line is, you have the right to do something about it. Don’t expect the CRAs or creditors to make sure that your credit report is up-to-date and accurate. That’s your responsibility. If there’s errors, then you can and should dispute them.

Call our office, we would love to assist you; 1.800.442.1591 - Gaining Financial Stability with Intelligence and Integrity!

Credit cards are a very useful type of credit tool, and when used wisely, they can help you build your credit. However, it’s important to manage credit card use, because credit cards can also be a route to debt if you misuse them. Here are four ways you can build credit with a credit card:

1. Open your first credit card account. If you have already established some credit history, look for a card with a low spending limit, which may be easier to qualify for if your credit history is limited. Make small charges that you can easily pay off right away, and pay the balance in full every month. This will help build a profile on your credit report of responsible credit use and reliable payment.
2. Get a secured credit card. If you have little credit history or negative history, it may be difficult to get a regular credit card. A secured credit card may be an option. Secured credit cards are usually tied to a savings account, and the limit on the card is typically the amount in the account or a percentage of it.
   Just as with a regular credit card, you build credit with a secured card by making responsible charges, keeping your balance low or at zero, and paying on time every month. Not all lenders report secured credit cards to the credit reporting companies, but the lender may be willing to convert the account to a traditional credit card after a certain period of time. You should ask these questions prior to deciding whether to open any account.
3. Open a joint account or become an authorized user. If you’re having trouble getting your own credit card, another option for building credit is to become an authorized user on someone else’s account, or to open a joint account with someone who has a good credit history. Parents may choose to help a younger person with little credit history by adding him or her to the parents’ existing credit card accounts as an authorized user, or by opening a new card jointly.For joint accounts, you are responsible for repaying charges on the card, and so is the other account holder. If you don’t repay money borrowed on a joint account, the joint cardholder will have to, or you’ll both feel the credit impact of late or missed payments.
4. Request a credit limit increase. After you have paid down your debt and decreased your utilization rate, or if your credit is already in good standing, you may consider asking for a credit limit increase from your credit card provider. Your credit utilization ratio is a comparison between the total amount of credit available to you versus the total amount you’re using, and it’s an important factor in your credit score.
   A credit utilization ratio of 30 percent or less is often considered good by lenders and others; the lower the ratio the better it is for your credit score. For example, if you have $1,000 of available credit, and only owe $200, your credit utilization ratio is 20 percent. Increasing your available credit can lower your credit utilization ratio and positively impact your credit score, as long as you’re careful not to charge up to your new limit. The lower your utilization rate is, the better your credit score will be.
   On the other hand, asking for a credit limit increase when you have high balances may not be the best approach, since it may be difficult to get a provider to agree to an increase and it could increase your risk for adding more debt if your spending is not managed properly. This in turn, would negatively impact your credit.

Filing for bankruptcy is not the end of the world for your credit! On the contrary, after you have emerged from a bankruptcy successfully, you can begin building your credit and improving your credit score again. In the words of the public affairs manager at Fair Isaac Corp., which created the FICO credit-score rating, "Nowadays lenders pay greater attention to other factors. If you mind your Ps and Qs after the bankruptcy, you can restore your credit rating once the bankruptcy data finally falls off your credit report."

5 Reasons So Many Americans Are Living Paycheck to Paycheck

At the beginning of the New Year, many of us are looking for ways to improve our personal finances. For nearly half of Americans, that means finding a way to stop living from paycheck to paycheck.

Related: 15 Things That Will Cost Less in 2017

Ending that cycle often requires figuring out why you’re living without a financial safety net in the first place. A recent survey by the National Endowment for Financial Education asked over 2,000 Americans why they think people are living paycheck to paycheck. These were the most popular responses:

• Credit card debt (24 percent)
• Employment struggles (22 percent)
• Mortgage or rent (18 percent)
• Healthcare costs (10 percent)
• Taxes (4 percent)

The survey also asked about the major expenses and financial setbacks respondents 

actually experienced in the last year, which provides another view of the real difficulties people face. The most popular responses were:

• Transportation issues - i.e, car repair (23 percent)
• Housing repairs and maintenance (20 percent)
• Medical care for injury or illness (18 percent)
• Falling behind on bills (16 percent)
• Job loss (11 percent)

A third of Americans surveyed last year by TD Bank said that living paycheck to paycheck was keeping them from reaching their financial goals. “People across all income levels struggle with debt, employment issues, and high housing costs,” says NEFE spokesman Paul Golden.

Related: The Top 5 Financial Resolutions Americans Are Making for 2017

To free up some money in your monthly budget, Golden recommends tracking your spending over several months to identify areas where you can make changes. Cutting back spending will free up money that you can put toward debt payments or to start an emergency fund. Experts recommend having at least three to six months’ worth of expenses set aside for unexpected expenses.

If that seems like an overwhelming goal, start with a smaller one, NEFE suggests. Even setting aside $500 offers a bit more security and a sense of achievement, which can help reduce stress. Once you’ve set aside $500, aim to double it.

What is Debt Validation?

If a collection agency or attorney (CA) continues any collection efforts prior to validating the debt, they are in violation of the FDCPA. And, if they violate the FDCPA in this way, you can sue them for statutory damages. The court must award you an automatic win of $1000. To see how to do this read the section "Prove a Debt Collector is in Violation and Win $1000".

CAs often practice unscrupulous and aggressive tactics. For this reason, DV has become a popular solution to reduce and even eliminate debts. In fact, it has been successful in stopping collection activities about 80% of the time. The only time DV will not work is if an assigned debt collector gives the debt back to the original creditor (in which case, you cannot use DV) or if the CA validates the debt with adequate proof.

DV is distinct from other debt-reduction strategies such as debt settlement and Chapter 13 bankruptcy because DV allows the consumer to establish an affirmative stance against particular debts right from the beginning. This is important for two reasons: a) it strengthens a consumer's position when negotiating and settling a debt in the future; and, b) in the event the consumer is sued by the CA, it gives them an affirmative defense to possibly have the case dismissed. We'll discuss this more in "The Debt Validation Process."

Call 1.800.442.1591 - Gaining Financial Stability with Intelligence and Integrity!

What is Debt Validation?

If a collection agency or attorney (CA) continues any collection efforts prior to validating the debt, they are in violation of the FDCPA. And, if they violate the FDCPA in this way, you can sue them for statutory damages. The court must award you an automatic win of $1000. To see how to do this read the section "Prove a Debt Collector is in Violation and Win $1000".

CAs often practice unscrupulous and aggressive tactics. For this reason, DV has become a popular solution to reduce and even eliminate debts. In fact, it has been successful in stopping collection activities about 80% of the time. The only time DV will not work is if an assigned debt collector gives the debt back to the original creditor (in which case, you cannot use DV) or if the CA validates the debt with adequate proof.

DV is distinct from other debt-reduction strategies such as debt settlement and Chapter 13 bankruptcy because DV allows the consumer to establish an affirmative stance against particular debts right from the beginning. This is important for two reasons: a) it strengthens a consumer's position when negotiating and settling a debt in the future; and, b) in the event the consumer is sued by the CA, it gives them an affirmative defense to possibly have the case dismissed. We'll discuss this more in "The Debt Validation Process."

Call 1.800.442.1591 - Gaining Financial Stability with Intelligence and Integrity!

At BANCO Capital Corporation

,we help educate and repair damaged credit.

 We know that in today'A tough economy,

 it can very difficult to qualify or a mortgage, loan, or even a credit card. 

We  specialize in helping our clients achieve their short-term and long-term financial goals. 

Seventy percent of credit reports contain information

 that is inaccurate, incomplete, unverifiable, misleading or obsolete. 

Our vast knowledge and experience in the laws related to credit repair allows us to get these negative items deleted from your credit reports.

Set a budget

Putting a budget in place allows you to take control of your money. It’s just a record of the money you have coming in and what you have left to spend each month.

Once you’ve done this you should be able to identify areas where you can reduce your spending.

The money that you save can then be put towards repaying your credit card debt.

Credit reporting agencies

There are three credit bureaus: Equifax, TransUnion and Experian.

They maintain files on millions of borrowers. Lenders making credit decisions buy credit reports on their prospects, applicants and customers from the credit reporting agencies.

Lenders and other businesses use the information in your credit report to evaluate your applications for credit, loans, insurance, or renting a home.

Do I have enough savings for a secure retirement?

My husband and I are retired, but aren't sure whether we have enough in savings to see us through retirement. Is there a specific amount we should have? How can we tell how much is enough? --Diane

I think you need to frame this issue a little differently. The amount you should have is pretty much a moot point right now as you've already retired. So the more pertinent question is how much can you withdraw from your nest egg each year to cover your retirement living expenses and still have a reasonable level of assurance that you won't deplete your savings too soon?

Your first step toward answering that query is to determine how much you're actually spending each year, and the best way to do that is to create a retirement budget. You can make a budget with pencil and paper, but I think you're better off using an online budgeting tool likeBlackRock's Retirement Expense Worksheet, which allows you to enter some 50 separate expense items in eight categories, including household and medical costs as well as expenditures for discretionary outlays like travel and entertainment.

nce you have a decent idea of how much you're spending each year, you can move on to seeing how likely it is that your nest egg will be able to support you the rest of your life if you continue your current level of spending. An online tool like T. Rowe Price's retirement income calculator can help you estimate that likelihood.

The calculator employs Monte Carlo simulations to estimate the probability that income from Social Security plus withdrawals from your nest egg will be able to generate enough income for you to maintain your expected spending for the rest of your life.

(The tool's default assumption is that you -- or in your case either you or your husband -- will live to age 95. You can choose a different age, but I consider 95 a reasonable assumption given today's longer lifespans. If you like, you can get a more nuanced take on how long you might need your savings to last based on your age, sex and state of health by revving up the Actuaries Longevity Illustrator tool.)

If after going through this process you find that the chances that the combination of Social Security and draws from your nest egg are uncomfortably low -- I'd say you want your chance of success to be at least 70% to 80% -- then you can re-run the analysis and change a few assumptions to see how much your odds of success improve.

Not surprisingly, you'll find that scaling back your spending will boost your odds of success the most. You may also be tempted to invest more aggressively in hopes of earning a higher rate of return on your savings that, in turn, could support a higher level of withdrawals from your nest egg and more spending.

But be careful. Devoting a higher portion of your savings to stocks can leave your nest egg morevulnerable to market downturns and potentially increase the risk of running through your savings too soon.

And even absent a serious market setback, investing more aggressively may not boost the chances of your money lasting the rest of your life as much as you might think.

Besides, there are other moves you can make that can be more effective than taking on more investing risk. For example, you might check out sites like RetiredBrains.com andRetirementjobs.com for part-time work that can generate more income. If you own a home, you might also consider tapping into the equity by taking out a reverse mortgage or downsizing to smaller, less expensive digs to come away with a chunk of extra cash that can supplement your nest egg.

If you're really worried that you might run through your savings while you've still got a lot of living to do, you could also think about converting a portion of your nest egg to a guaranteed lifetime income stream via an immediate annuity or a longevity annuity.Related: Are you behind on retirement saving?

It goes without saying (but I'll say it anyway) that no tool or calculator can actually predict the future. So what you're getting when you go through the analysis I outlined above are estimates, not promises, of how long your nest egg is likely to last given different levels of withdrawals based on forecasts of how the financial markets are expected to perform.

Still, by going through this process and running a few scenarios, you can get a pretty good sense of how your chances of your money running out go up and down given different levels of withdrawals.

If you're not confident about doing such number-crunching on your own -- or you want a more comprehensive assessment of your retirement prospects and how you might improve them -- you can always hire a financial adviser to do the analysis for you.

Finally, this isn't the sort of exercise you can do once and then forget about it. Lots of things can change -- market conditions, your spending needs, the value of your nest egg, to name a few. So you should re-assess your situation every year or so with updated information about your expected spending, how many years of retirement you estimate are still ahead of you, your latest account balances, etc. You can then make adjustments, if necessary, to increase the odds that your savings will last as long as you do.

How Long Does Credit Repair Take?

Getting negative, inaccurate information off of your credit reports is one of the fastest ways to see an improvement in your scores. Since credit bureaus have to respond and resolve a dispute within 30 days (there are a few exceptions that may extend this to 45 days), it’s a short timeline that can help consumers who want to buy a house, get a new car or open up a new credit card soon and don’t have the time to wait to build good credit in other ways.

But that doesn’t mean a credit restoration company can tell you exactly when your credit score will improve since some consumers’ credit issues are much more complex than others.

“Since every case and credit report is unique, no professional firm can ethically predict an exact outcome for your Credit Scores, especially without first seeing the credit reports. “When picking a credit repair company to fix your bad credit, don’t ask about the future, but instead ask about what real clients have seen in the past and if the items return.” ~Janell Jones-Travis; BCC President/CEO

Credit Histories Restoration

Are you suffering from bad credit problems? After that read on to learn the best methods for credit restoration; you need not spend great amounts of cash with financial experts in order to get your credit back on track. There are various things that you could do to assist yourself to restore your credit. Self credit restoration is a long yet satisfying process, and one that really works. Don't trust exactly what you learn about magical credit restoration software that you can run on your personal computer, there are no wonderful cures to bad credit, and you cannot buy yourself a great credit rating.

Self credit restoration starts at home; exactly what you need is time, patience and a copy of your credit report from the three major credit bureaus. With these in hand and the correct frame of mind that you really desire to restore your credit. The 1st step to credit restoration is to sit down and carefully analyze your credit reports and check for any discrepancies that could be present. These could be due to computer error or perhaps old debts that you have already liquidated.

The next thing to credit restoration is to write credit dispute letters to lenders, wherever you've found difference in your record, write a transparent letter to the money lender describing the problem and request your bad credit to be eliminated; you'll receive an answer from the money lender, and if you're not in complete agreement you'll have time to challenge the letter.

There is really only one way to restore your credit history, and that is by paying back any bills due as well as determining your spending.You have to assess your position carefully and see exactly what changes you need to make in your life to not fall back in bother later on.

A consolidation loan will help you to group together all your debts, but it must be coupled with self repair techniques in order to really get your credit score back up where you desire it to be.

What’s Your Score?

Don’t assume your score is good (or isn’t) just because you have always paid your bills on time (or haven’t.) The only way to know whether you have a good credit score is to check. You can get your credit score free every other week at Credit.com. This is a truly free credit score – no payment information is requested. In addition to the number, you’ll see a breakdown of the factors that affect your score and get recommendations for making your credit as strong as possible.

You Have 30 Or More Official Credit Scores

Most people think they have just one credit score, and that all lenders use this single score to measure your creditworthiness. But not only do you have over 30 credit scores, a quick web search will also reveal seemingly endless ways to obtain them — all offered to you with costs ranging from free to $60.

How do you know which scores matter, when to pay, and when free is fine? Let’s break it down in the first of our two-part article — starting with the paid services.

Can You Get a Better Credit Card?

The Right Credit Cards for You

Secured cards are a common credit-building tool; they require an upfront cash or collateral deposit that will eventually serve as the limit for the card. Then there are subprime credit cards, which don't require an upfront deposit, but often have high interest rates and fees, and low limits.

If you've received an offer for a high-cost credit card, that doesn't necessarily mean that's your best, or only, option. This is why it's important to do your research and shop for the best deal you can find.

For both subprime credit cards and secured credit cards, be on the lookout for ones that carry high fees that could have an impact on your credit utilization ratio, especially if you have a low credit limit. When it comes to your credit score, your debt usage is the second biggest factor in your credit score — and using less than 30% of your credit limit is preferable (10% is even better). Say you have a $300 limit, and a $75 annual fee — this utilizes 25% of the credit limit, then you decide to make a purchase over $15, which will put you over the ideal utilization percentage. Not only is the card striking your pocket, it's also potentially hurting your credit score. Furthermore, some cards have monthly fees that can also bump up your utilization, so it's important to do your research and look for a card within your credit range that offers the lowest fees and lowest interest rates.

There are a variety products and options available to help consumers improve their credit standing. If you are looking for ways to improve your credit or want to find a less costly credit option you can still get a credit card with bad credit, here's how, and you can even rebuild your credit without credit cards as well.

!!How do I get and keep good credit score? To get and keep a good credit score,first pay your bills on time. There are no secrets to building a strong credit score,but following these guidelines should help: Pay your bill on time,every time. One way to make sure your payments are on time is to set up automatic payments, or set up electronic reminders. If you've missed payments, get current and stay current. Don't get close to your credit limit. Credit scoring models look at how close you are to being "maxed out," so try to keep your balances low in proportion to your overall credit limit. Experts advise keeping your use of credit at no more than 30 percent of your total credit limit. A long credit history will help your score. Credit scores are based on experience over time. The more experience you have with getting credit and paying your bills on time, the more information there is to determine whether you are a good credit risk Only apply for credit that you need! CALL TOADY!!!! For More Information Banco Financial Services 734-774-8690

Credit reporting agencies

There are three credit bureaus: Equifax, TransUnion and Experian.

They maintain files on millions of borrowers. Lenders making credit decisions buy credit reports on their prospects, applicants and customers from the credit reporting agencies.

Lenders and other businesses use the information in your credit report to evaluate your applications for credit, loans, insurance, or renting a home.

5 Major Home Selling Mistakes to Avoid in 2017

Sally Forster Jones

Jan 10, 2017, 10:50 AM

It's a new year and it's time for a fresh start. If you're planning to sell your home in 2017, here are a few mistakes you should avoid to maximize your results and minimize your headache. Selling a home can be difficult. Side step these common mistakes to increase your chances for a smoother, faster, and more gainful transaction.

Skipping the necessary preparation. Once the decision has been made to sell, it's understandable that many sellers want to get their homes on the market as quickly as possible. However, taking the time to get your home ready for sale is one of the most important steps in the selling process.

Skipping or skimping on this step is one of the biggest mistakes a home seller can make. You only get one chance to make a first impression and a great first impression can translate to actual dollar value -- especially in a competitive market.

Take the time to paint, make repairs, declutter, tidy landscaping and stage the home, if needed. An experienced real estate professional can help you to determine what work needs to be done and how it could affect the value of your home in the local market.

Clean up and declutter. Potential buyers need to be able to picture themselves in your home --too much clutter, personal items or disorder can be distracting and turn buyers off.

Repair and upgrade. Even small cosmetic issues can be a red flag for potential buyers. Chipping paint, water stains, cracks or stained carpets can be signs of neglect or larger problems with the property. Your home should look well cared for and maintained.

Stage. Staging can range from simply refreshing and rearranging current furnishings, to editing and adding accessories, to complete professional staging.

Take great photos. Proper preparation also translates to a well-executed marketing plan. Your home should show at its best in person as well as in the property photos and collateral materials. As more and more buyers are turning to the internet to begin their home search, we rely on excellent photography to make a great first impression. Ditch those iPhone or point-and-shoot images. Professionally shot and staged property photos are an absolutely essential sales tool.

Pricing too high for the market. Pricing is the most important decision, and the one that will have the largest impact on your sales outcome. The biggest mistake sellers make is overpricing their property for the market.

Overpricing typically leads to more days on market, which can negatively affect your final sale price. Whether you're in a hurry to sell or not, time is a critical factor in selling your home. In general, the longer a property sits on the market, the less urgency buyers will feel, the more leverage they will feel they have and the less likely you will be to attract the attention for multiple offers.

Pricing can be a sensitive topic of discussion, and it's a good idea to work with an experienced professional who knows the market as well as your specific neighborhood. As a seller, it can be difficult to see your own home with unbiased eyes. Emotional attachments and financial obligations can cause sellers to reach for more value than the market will bear.

Review comparable deals in the area, take a realistic look at your home and discuss the positives and negatives of different pricing strategies with your agent to determine what will work best for you.

Even with thoughtful pricing, it's still possible to miss the mark. Sellers who are able to keep their emotions and expectations in check will be better able to reassess a situation and find a successful outcome.

Being present for showings and open houses. As much as you may want to be completely hands-on in the sale of your home, it's almost never a good idea to linger during showings or open houses. When the seller is present, it can create an awkward situation for potential buyers.

Buyers may feel they're intruding on your home, which can make it even more difficult for them to imagine themselves living there. They may feel rushed or inhibited by the seller's presence and may not take the extra time they need to go through the home at their own pace. In addition, buyers may not feel comfortable expressing their true feelings about a property which can lead to frustration and inaccurate feedback.

Pricing too high for the market. Pricing is the most important decision, and the one that will have the largest impact on your sales outcome. The biggest mistake sellers make is overpricing their property for the market.

Overpricing typically leads to more days on market, which can negatively affect your final sale price. Whether you're in a hurry to sell or not, time is a critical factor in selling your home. In general, the longer a property sits on the market, the less urgency buyers will feel, the more leverage they will feel they have and the less likely you will be to attract the attention for multiple offers.

Pricing can be a sensitive topic of discussion, and it's a good idea to work with an experienced professional who knows the market as well as your specific neighborhood. As a seller, it can be difficult to see your own home with unbiased eyes. Emotional attachments and financial obligations can cause sellers to reach for more value than the market will bear.

Review comparable deals in the area, take a realistic look at your home and discuss the positives and negatives of different pricing strategies with your agent to determine what will work best for you.

Even with thoughtful pricing, it's still possible to miss the mark. Sellers who are able to keep their emotions and expectations in check will be better able to reassess a situation and find a successful outcome.

Being present for showings and open houses. As much as you may want to be completely hands-on in the sale of your home, it's almost never a good idea to linger during showings or open houses. When the seller is present, it can create an awkward situation for potential buyers.

Buyers may feel they're intruding on your home, which can make it even more difficult for them to imagine themselves living there. They may feel rushed or inhibited by the seller's presence and may not take the extra time they need to go through the home at their own pace. In addition, buyers may not feel comfortable expressing their true feelings about a property which can lead to frustration and inaccurate feedback.

Not working with an experienced professional. Working with an experienced real estate professional can make all the difference in your home selling experience. A good agent can provide you with support, advice and resources to help you avoid many of these common pitfalls.

From preparation and pricing to marketing and showing your property, a good agent can alleviate much of the stress, time and legwork necessary to get your home sold. Real estate transactions can get complicated and once a buyer makes an offer on your home or you enter escrow, a seasoned professional who is skilled in negotiation and familiar with the process can be invaluable.

When you're interviewing and hiring an agent to sell your home, it's important to ask questions. Not all agents are created equal, so choosing the best person to represent you is key. Working with an underqualified agent, or even someone who just doesn't mesh with your personality and goals, can be just as detrimental as going it on your own.

Consider experience, past and current deals, market knowledge and marketing know-how. Equally important is to hire someone you respect, trust and feel you can work well with.

Avoid these common home selling mistakes and set yourself up for a positive and prosperous 2017.

**Breakdown of what makes up your credit score**

Payment History- how often you pay your bills (makes up 32% of your overall credit score)

Amount of Debt-how much debt you owe (makes up 15% of your overall credit score)

Length of Credit History and types of credit- how often you use your accounts and how many accounts you have open (makes up 13% of your overall credit score)

New Credit- how many recently opened accounts and recent credit inquiries there are in your file (makes up 10% of your overall credit score)

Utilization-the amount or available credit you use (makes up 23% of your overall credit score)

Available credit (makes up 7% of your overall credit)

5 Easy Steps to Get Control of Your Finances

About half the U.S. population doesn’t have enough money to cover a $400 emergency, according to a report from the Federal Reserve. If you’re among the 47% of cash-strapped Americans or your personal finances are otherwise pinched, now’s a good time to evaluate how to manage your money. Saving is important since it can prevent you from having to take out high-cost loans to cover expenses, which can damage your bank account further. Of course, it’s not always easy to pinpoint how to save money. One of the most important steps involves taking a good, hard look at the money you have coming in versus the money you have going out so that you can establish a solid budget — and stick to it. Here are five easy steps to help you get control of your personal finances.

1. Evaluate Your Income

How much money do you have coming in? Including your paycheck is a given, but don’t forget other income: A second job, alimony, child support or any other miscellaneous cash that you might have coming in. Write it all down and add it up.

2. Calculate Your Expenses

One of the most difficult steps in establishing a budget is determining how much money you’re spending — that is, how much money is going out. First, make a list of all your fixed expenses. This should include:

• Rent
• Mortgage payments
• Car payments
• Child care expenses
• Insurance
• Utilities
• Cable
• Other subscription services

Next, include variable expenses such as food, gas, entertainment, etc. Don’t forget about miscellaneous and maintenance expenses like property taxes, car maintenance, tag renewals, birthday gifts, etc. Once you’ve added up your outgoing monthly expenses, subtract them from your income and that’ll tell you whether you’re spending more than you earn. You’ll also get a better idea of where you can cut back.

3. Trim The Fat

Now that you’ve gotten the hard part out of the way, it’s time to look at where you can cut back. If you’re spending $60 a month at the local coffee shop for your daily double mocha lattes, consider only splurging once a week and switching to coffee at home. One way to easily determine areas where you may be able to cut costs is to evaluate which expenses are actual “needs” or “wants” or “nice-to-haves.” This can add a whole new perspective to your budgeting efforts and give you the extra push you need to cut the expenses that aren’t necessarily “needs.” Other ways to scale back on your overall spending and/or design a better budget include:

• Shopping around to see if you could secure a cheaper contract with your service providers, including your cable company or cell phone provider
• Calling existing service providers to see if you qualify for a lower rate or discount
• Looking into budgeting apps that can help you monitor your monthly spending and provide alerts if you’re spending more than you should overall or in specific categories
• Paying credit card bills more than once a month to prevent balances from climbing too high
• Considering a balance-transfer credit card that offers a 0% introductory annual percentage rate to minimize the costs associated with any high-interest credit card debt you’re carrying. (Note: Most balance transfers will cost a fee, usually around 2% to 3%.)  

4. Pay Yourself

In today’s economic environment, it’s more important than ever to have a financial cushion for emergencies. Don’t forget to leave room to pay yourself. Setting aside enough money for savings or an emergency fund can make all the difference in the world when you’re blindsided with an unexpected job loss or financial emergency. Ideally, you should aim to have at least three to six months’ salary in your emergency fund, but even having $1,000 as a backup is better than no backup at all. If you’re struggling and can only afford a little each week, setting aside even $10 a week is better than nothing.

5. Stick to It

So you’ve established a solid budget and have a great plan in place — but how do you stick to it? It’ll take some dedication on your part, but the reward is well worth the effort. If you have a spouse, work together to hold each other accountable for any spending oversights. If one of you overspends, set rules that the guilty party has to contribute more to that month’s savings fund — a sort of quarter-jar method with a twist. It’s much easier to do when you’re working at it together and you can make it more of a competition to keep it interesting. If you’re single, consider creating a support group among your friends with a monetary reward for reaching your budgeting goals. Whether it’s a vacation fund or a night on the town, the extra incentive will help keep your eyes focused on the goal and make it fun in the process.

Monitor Your Credit

Keep in mind, too, that having a good credit score can also be instrumental when it comes to controlling your finances, since it ensures, should you need financing for an emergency, that you can qualify for the lowest interest rates. You can pull your credit report for free each year at AnnualCreditReport.com andview two of your credit scores, updated every 14 days, at Credit.com. If your credit looks shoddy, you can try polishing it by disputing credit report errors and/or establishing a good payment history with a new line of starter credit, like a secured credit card or credit-builder loan. You can also work to pay down existing high debts.