90 Day Challenge: Do What You Love

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Today, we’re kicking off our 90-Day Challenge!

What is the 90-Day Challenge? Simply put, it’s when we pick an activity we love to do and stick with it for 30, 60, or 90 days.

The key is choosing an activity that’s fun, fast, and CHEAP. Reading, hiking, swimming, biking, writing—it can be just about anything as long as it doesn’t cost too much.

By focusing on activities we enjoy, we stay focused and busy—which leads to spending less on random things out of sheer boredom. Boredom is one of the main reasons we hop online and shop, or go out for expensive meals, or find other ways to spend our hard-earned cash on things we don’t really need.

Give yourself a specific (and fun) purpose this coming month, and you’ll quickly (and easily) break free of bad financial habits!

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What does the mortgage approval process look like?

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Do you know what the mortgage approval process looks like? Well, here’s a snapshot:

The mortgage approval process is determined by three main factors:

  1. Credit score.
  2. Income/savings.
  3. How much money you put down on a house (or the loan-to-value).

The higher each factor is, the easier it is to get a loan. Why? Because there’s little to no risk for a mortgage company. You’ve proven you’re financially stable.

What if one of these three factors aren’t good? Well, you need to find a way to balance things out.

To learn more credit strategies, and how you can get a mortgage when the bank says no, go to smartwithdebt.com.

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Credit Matters More Than Ever

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Credit has mattered for many years, but now it matters more than ever. Find out why with this article from CSR!

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What’s a Good Credit Score?

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What does a good, solid, lender-friendly credit score look like?

In the mortgage industry, lenders like to see scores above 760. Anything under 660 could get a Simon Cowell-like rejection. Okay, maybe not that harsh, but still. You’ll risk hearing “No” more than “Yes” if your credit score is too low.

Do you know what your credit score is? To find out for free, go to AnnualCreditReport.com. You can also pay to get your FICO scores by going to MyFico.com.

To learn more about credit, and how you can get a mortgage when the bank says no, go to smartwithdebt.com.

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How Can Smart with Debt Help You?

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As Smart with Debt team, we want to cheer you on, and train you to avoid heartbreak during the homebuying process. Our goal is to teach you:

  • What the heck a credit score is.
  • How your age affects your credit.
  • Why bad credit will cost you more—a lot more—by the time you reach retirement.
  • How to manage your credit cards.
  • How the mortgage approval process works and how to get approved despite poor credit.
  • The myths and truths about credit.
  • How to deal with pesky collectors.
  • How to avoid common credit traps.
  • How to keep your credit and enjoy life more!

Essentially, we want to show you how to live the life you’ve always dreamed of.

To learn more about credit, and how you can get a mortgage when the bank says no, go to smartwithdebt.com.

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