Keisha Hosea- Realtor, Chino Hills, CA

Maintaining low interest rates for an extended period means speculation AND risk-taking. The option adjustable rate mortgage and interest only mortgages were fairly new creations offered to sub-prime borrowers in high volumes. Additionally, we are just now beginning to see how these mortgages perform in periods of economic stress. The low introductory rates made homeownership more affordable thus adjustable rate mortgages increased. The premise was to refinance BEFORE the interest rates reset within two to five years. The PROBLEM? the market softened (whoops) and it has become difficult to refinance. The RESULT? Foreclosures.

Although your home falling into foreclosure will leave a negative mark on your credit report there are steps that you can take to get your credit back on track:

1. Rebuild Good Credit- Six months after the foreclosure appears on your credit report, begin rebuilding your credit by opening new lines of credit such as major credit card and a charge ctard. Remember to pay the bills on time.

2. Take Your Time- Do not apply for a new mortgage for two years so that you will have significant time for your rebuilt credit history to show.

3. Comparison Shop for A Mortgage

These are just a few ways to pick up the pieces and rebuild your credit after foreclosure.

A resounding YES is the answer to this question. I am astounded by how many times I hear clients say that they received their credit report but did not thoroughly read it. We can point to this behavior as one of the reasons we (the United States) are the richest country with the most debt. As a nation, we could really stand to do a lot better. Your credit report is your financial report card. When was the last time you let your child bring in their report card and then decided that you really didn'y need to read it? Try never! We need to apply the same zeal to our credit reports. AnnualCreditReport.com is a federally-approved website you should visit if you want a truly free credit report. If there are errors follow the instructions to correct them. Also visit MyFico.com to learn how to improve your report and your credit score -- a numerical rendition of your creditworthiness. Right now credit repair is a big issue with many. Be prepared and be proactive.

Scent, aroma, quaff, fragrant, stench, odor--We're talking about the integral part that scents play in our feelings and sensations. These same feelings and sensations have the uncanny ability to make or potentially break the sale. Each time we list a home for sale it becomes increasingly crucial to ensure that potential buyers' feelings and sensations are filled with the likes of things that are aromatic and pleasing. We have more receptors dedicated to smell (around 2o million) than to almost any other sense. The average person can detect more than 10,000 odors. Let's hope that these are pleasant odors when potential buyers are touring your home. Our enigmatic sense of smell is so powerful that it even plays a huge part in how we choose our mates. So if our sense of smell can even help us pick a mate, what does that tell you about the role that it plays in picking our next home? THINK ABOUT IT.

Starting a new life together can put anyone in ‘whirlwind mode.' From the moment you are engaged, incessant planning ensues. With every detailed covered, the big day comes and then goes. Now what? It's normal to feel like there is somewhat a void in your life. Afterall, the last year, maybe even two years has been spent planning every single nuance of that day. But there is still more to be done. There are thank you notes to send out, name changes to be done and planning for the future. Planning the future entails making wise economic decisions. Real Estate is one of those decisions. This is not just because everyone needs a place to live, but also because sound real estate investments early on can provide for wealth in the latter years of marriage. Leveraging oneself with both short term and long term investment strategies can truly be an effective means of increasing and maintaining wealth. The wedding is over now what? Call Keisha Hosea & Associates with Keller Williams Realty at (909) 261-6377 to begin planning your future.