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Credit Card “Piggybacking” and the New FICO 08

9 Year Mortgage - FICO

If you’re worried about your credit score, join the club! As you know, it takes one minute to hurt your credit score and normally years to repair it. You may be in a better financial situation now than you used to be, but somehow your past two years of prompt payments has done little to raise your credit score. For years, credit repair clinics have been assisting clients who find themselves in this same predicament by using a method called “piggybacking”. In the following passage, 9 Year Mortgage will continue to discuss what this “piggybacking” entails as well as what the new FICO 08 program does to stop such actions from occurring.

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Is It Time to Upgrade to a Gold-Card or Switch Debit-Card Providers?

While the option to upgrade your credit card to Gold-status is becoming more available to average bankers and the new monthly $5 dollar charge for debit card users that Bank of America has announced, it is becoming harder to decide what the best financial decision is for you and your family. If you are hearing the rumors that your bank is going to start charging you for using a debit card or you seriously considering applying for one of the five credit card applications you get in the mail daily, 9 Year Mortgage would like to discuss the options and alternatives you have to debit cards or credit cards.

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Trending Now: Homeowners Remodeling

It’s not shocking that home values are still falling, and unfortunately there are no reports of it getting any better any time soon. To those of you who are hoping to sell your home, for more than it’s worth, in order to buy a new one that you can comfortably live the rest of your days in, 9 Year Mortgage doesn’t see this as the attainable dream it once was. With home values expected to drop another near 3% by the years end, the luxury of making a profit on the sale of your home will be a rare occurrence. Such reality is actually causing a spark among a plethora of homeowners, who have indeed caught the “renovating-bug”.

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How Your Family Can Live on One Income

9 Year Mortgage knows of the difficulties that plague our nation at this point in time; housing market woes, high unemployment rates, increasing gas prices, and a drastic leap in general living costs. Although 77 percent of the married couples in the U.S. both hold current jobs, there are also nearly 25 percent of families that are struggling to survive on one income. Even some of those families who are fortunate enough to have two incomes are pulling in what one person could make, so the struggles of meeting ends needs are applicable to a range of people regardless of job status. 9 Year Mortgage has compiled a list of steps that one might want to take if you are considering to start living on one income.

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Your Will: How to Give Children Unequal Amounts

We’ve all heard the stories of the disgruntled children who have received nothing from a deceased parent’s will or they were only given a smidgen of what they expected. The decision of who should get what, in terms of your will, is something everyone must decide someday; for many this is easier said than done. In many cases parents want to leave a larger portion of their estate to one child over another, but there are hurt-feelings and legal issues that end up thwarting their plans. 9 Year Mortgage understands that there are numerous reasons for leaving uneven amounts to inheritors and we’d like to give you pointers on how to do this without your will causing family-drama or possible legal fees.

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Are You Shattering Your Chance of Retirement?

It is no coincidence that 90% of 9 Year Mortgage clients are between the age’s of 50 and 60; This is when retirement is in the near future and many people are realizing they are not ready for this next stage in their lives. Unfortunately most people don’t take retirement seriously until they get closer to retirement age, and by that point most of them still have a large amount of debt. Between the recent recession and housing market woes, those nearing retirement are finding that they are ill-prepared for the months to come and are struggling to feel secure with their finances. 9 Year Mortgage will discuss the major causes of those struggling to save retirement funds and the options that are available to them.

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The Growing Generation Susceptible to ID Theft

Each year one in every 20 Americans is at risk of identity theft, in the end affecting millions. Did you stop to consider that a part of those effected by identity theft are those under the age of 18, especially children? In the past year there were nearly 20,000 reported cases of identity theft occurring in the lives of young people in our nation. 9 Year Mortgage has become aware of the growing trend of stealing young children’s identities and would like to share with you the reasons behind this monstrosity and precautions that you can take to ensure the safety of your child’s financial future.

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The Target Your Wallet Creates

Do you consider yourself a hoarder? Most likely not, however there seems to be one item that nearly everyone has a problem downsizing or parting with: your wallet. 9 Year Mortgage finds it curious that both men and women have wallets that are continually growing and never shrinking, which is unfortunately more of an inconvenience for wallet-hoarders in the long run. Why you ask? Because one crime in particular is directly linked to thick wallets, and 9 Year Mortgage will give you one guess as to what it is…

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Is Retirement a Thing of the Past?

Maybe you have noticed how the late Silent Generation and now Baby Boomers are not ending their career path at the “normal” age? Maybe you, yourself, are at the expected age of retirement but are finding that the luxury of relaxing and not working is not something attainable within your 5-year plan. 9 Year Mortgage has found that many adults are having to and choosing to extend their career path’s for numerous reasons; let us tell you why.

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Why You Should Talk to Your Kids About the Market

No one is oblivious to the fact that the stock market is commanding the attention of every headline, news station, and adults small talk. 9 Year Mortgage believes it would be insensible to think that your child hasn’t noticed all the chatter about the markets, which is why it is so important not to ignore their questions or interest in the topic. 9 Year Mortgage is aware that explaining the markets is a hard feat to accomplish, considering many adults do not fully understand it themselves, but even the simplest attempts to explain it in elementary terms may help your children become better investors and savers in their adulthood.

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Good and Bad News for College Students

Should we discuss the good or bad news first? Since it’s better to end on a positive note, 9 Year Mortgage is sorry to say that the already steep costs for college tuition have once again spiked in over 30 different sates. On the upside, the new debt deal may have cut military spending and made the stock market plummet, but college grants did get a funding boost. An increase in awarded pell grants could be the best news to those students who are married, older, or who come from homes with low finances; But a wise word for all of you parents who earn enough to make your dependent child ineligible for grants – Your bank account may be drained from tuition or your child will have a dramatic increase in debt.

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How to Choose Between a New or Used Vehicle

It is inevitable that your long-time family car will eventually seize up and kick the bucket. Or maybe your like the many people who like to trade in their car every couple of years to avoid serious maintenance fees; You even may be possibly thinking of investing in another car for your older teens to share, so you’re not left stranded at home every night while they rendezvous with friends. What ever the case, when it comes to buying a “new” car for your families use, you can never be too careful. 9 Year Mortgage poses the question of what do you prefer to buy: New or Used cars? And Why? A second part to such a question is how do you afford it? 9 Year Mortgage has some helps and hints when it comes to such questions, and we’re here to share them with you!

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Are You Putting Off Your Retirement For Your Grown Children?

9 Year Mortgage is becoming increasingly aware of the unfortunate trend of grown children relying on their parents for financial support. The unfortunate part of grown children relying on their parents for financing is due to the fact that it is ruining their parents chance for retiring or their retirement funds. Between helping your children with mortgages, rent, child care, gifting or allowing them to live at your home, you are jeopardizing your opportunity for a successful retirement and 9 Year Mortgage will show you how.

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What You May Not Know About Daily Deal Sites

Have you ever heard of Groupon, LivingSocial, or any of the other hundreds of daily deal sites? In short, sites like these offer their members steep daily discounts at local restaurants, stores, events, photographers, spas or nearly anything you can imagine you can buy. A free membership to a site that saves you money sounds great to us here at 9 Year Mortgage! But as always, advertisers are tricky and make it so easy for us to look past some of the little details that could cost us some money or time later. For this reason, 9 Year Mortgage has configured a list of 10 things you should know about daily deal sites that they won’t tell you themselves.

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Is Getting a Store Credit Card Really Worth It?

The next time you find yourself being asked by a sales clerk to sign up for a credit card, 9 Year Mortgage advises you to stop and think about your commitment to such a card. Can you afford to lose a couple points on your credit score? Will you be able to pay off your entire balance every month? Will you actually take advantage of the member benefits, or let them slide by?

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9 Steps to Sell Your Home For What it’s Worth

It isn’t new news to any of us that the housing market is currently not the best, nor do we have any promising information that is leading us to believe it will make a fast recovery. As always, regardless of the U.S.’s economic or housing situation, our lives continue to go on and moving may become necessary for a lot of us. For this reason, 9 Year Mortgage has created a “must-do” list if you are hoping to sell your humble abode for its market value, or more.

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What Are You Doing With Your Tax Refund?

Now that you have filed your taxes, or are about to before Tax Day April 18th, it’s a waiting game for your refund. 9 Year Mortgage is interested in what its readers will be doing with their refund this year. Haven’t put much thought into it? Well, then let 9 Year Mortgage give you some pointers on some smart things to do with your tax money in 2011.

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Is Starting a Home Based Business Right For You?

If you are seeking to balance your career and family or you just want some flexibility within your occupation, a home based business may be your answer. 9 Year Mortgage believes that a home based business may just give you that incentive to increase your income by being 100% responsible for you financial well being. If you are intrigued with the idea of being your own boss and having maximum independence within your career, then you may be the perfect candidate for a home based business. But before you quit your current job or decide to run a business while your child takes a nap, there are plenty of things you need to consider.

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Should You Get a Second Job?

9 Year Mortgage is aware of the economic crisis and we highly recommend taking a fine toothed comb to your expense budgets, as you can see from our other posts, but there is another way you can help make ends meet–consider taking on a second job. Studies estimate that 27 million Americans are already taking advantage of a second part-time job, but before you take the plunge, here’s what 9 Year Mortgage suggests you consider.

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The Art of Frugality

Are you struggling to make ends meet or to continue to live the same lifestyle? Well, you’re not the only one. The trend of cutting expenses wherever possible is going to be a lasting one, not only because of the shaky economy but also from a feeling among Americans that the government and big corporations are not going to be reliable contributors during a financial crisis. If you are in this situation, don’t get discouraged, there are ways to cut your costs.

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Insurance: What You’re Missing

Whether you are a homeowner or a renter, there are probably a few insurance policies you are skimping out on. You might simply believe you do not need it, are unaware it exists, or think that it is already covered in your current policies. The truth is, for most of us, it will take a major disaster or unfortunate event to make a majority of us realize we should have bulked up on insurance coverage: better safe than sorry!

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Is the Recession Over? Knowing When to Spend

The holiday season is over, but stores are not seeing a major decrease in spending by consumers like they have seen in the past. Contrary to thought, consumers are not planning on slowing down when it comes to their spending. Don’t be fooled with all this talk of increased sales and large savings accounts; credit card applications have been rising since 2009 and have been soaring since the fourth quarter of 2010.

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Teaching Your Kids to Manage Their Money

Who is teaching your child about money? If your not, then chances are that no one is. 9 Year Mortgage recognizes that personal finance is not taught in schools and the only way they are learning is by example. Children often do not see their parents paying their mortgage or utility bills; what they do see is a piece of plastic that pays for most of your daily activities. The moment your child starts noticing the connection between money and purchases, you as their parent, have the obligation to teach them the truth about money; the earlier the better.

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