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It’s a different story in today’s housing market. The economy has slowed down, and the free market is correcting the housing sector’s inflated success. Qualifying for a mortgage is harder than it was three years ago, but it’s not impossible

1. Inspect All Three of Your Credit Reports. Pull your credit reports from Equifax, Experian, and Transunion. Make sure that all of the information is accurate. If you find an account that doesn’t belong to you, submit the necessary form to all three credit reporting agencies to dispute the account.

2. Improve Your FICO Score. Unfortunately, mortgage lenders heavily weight your lending eligibility based on a score that doesn’t accurately measure your financial stability. The FICO score only measures your ability to repay a loan. Improve your score by paying down debt, paying all of your credit accounts on time, and keeping open accounts with a $0 balance.

3. Save for a Down Payment. Buying a house with a 5% to 10% down payment shows you are serious about becoming a homeowner. If you’re looking for a Federal Housing Administration loan, you’ll need at least a 3% down payment. Mortgage lenders are more skeptical about doing 100% financing, because many of these loans are the ones going into default.

4. Increase Your Household Income. Mortgage lenders want you bringing in enough money to realistically pay for the loan. Two income families qualify easier than one income families. Pick up a second job, become a two income family, or start a home-based business.

5. Choose A Realistic Budget. The rule of thumb is a mortgage payment that is 25% of your monthly household income. Choose a price range that fits this criteria. If you make $4,000 a month, then choose a price range that gives you a mortgage payment of $1,250. The term “house poor” comes from people that spend the majority of their income on a mortgage payment. These are the same people that end up filing for foreclosure. Mortgage lenders will tell you that you can afford more than 25% of your household income, but they are the same people that helped the housing market crash.

6. Defer Your Student Loan Repayment. You get six months to defer your student loans before you need to start paying them back. If your student loans are deferred, the mortgage lender doesn’t need to include the debt in your debt ratio.

7. Stick with One Employer. Mortgage lenders like stability. Stick with the same employer for more than two years.

8. Negotiate a Price Lower Than the Appraised Value. The mortgage company will send their own appraiser out to assess the house. If you negotiated a purchase price that is lower than their appraised value, you can consider it instant equity in the eyes of the mortgage lender. You can check out Zillow.com to see the approximate value of the house.

Now is the time to buy, but lenders will no longer hand out loans to anyone. Don’t let this discourage you. Take this time as an opportunity to fine tune your personal finances. Don’t believe the fallacy that you need perfect credit to qualify for a loan. Mortgage companies are closing the doors every day. Countrywide was bought by Bank of America, and IndyMac Bank had their assets seized by the federal government last week. Lenders are looking for responsible borrowers. Your income and your credit history are the most important factors to determine if you qualify for a loan. Once you’re qualified for a loan, you can finally start the fun part of buying a house.

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Here are some safety tips for your children that parents can use to ensure a safe networking environment for kids.

1. Show interest - Ask questions about your childs networking.You can ask your child to help you set up your own social networking site.A great way to visit your child's page and see what's been posted.

2. Encourage Instinctive Responses - Kids usually do the right thing,which makes them be cautious against anyone who may take advantage of them online.Encourage them to avoid contact with people that make them feel unsafe.Tell them not to reveal anything online they would not want a stranger to know.Limit the postings of pictures.

3. Know Your Kids Passwords - If your child changes their password and refuses to give it out that means trouble.Insist in knowing how to access their accounts and keep their information confident.

4. Set Hours for Social Networking - Late nights are when predators prey on children.Set curtain times to network .Prefer daytime hours.

5. Be Aware of Alternate Access Points - Kids can access social networks at any computor even cell phones have internet service.Keep up with what's happening on their social networking page.

6. Excercise Your Parental Right to Supervise - You can ensure your kids safety by knowing who they are talking to online and what about.

7. Check For Photos - Click on windows'start 'search tool'pictures'music'video'the box next to pictures and photos and search.Ask your child to identify any photos of strangers that are questionable.

8. Install Filtering Software - PC Products like safe eye  allow parents to block or record instant messenges,limit emails,block websites,and recieve alerts when kids post personal information online.

9. Watch for Cyberbulling - Encourage children to tell you when they are harassed online.Children need to know it is not acceptable to be a party to cyberbulling or remain silent when they know others are being harrassed.

10. Don't Lecture - If you supect  any reasons for concern don't insult your child.Have a dicussion about values  and why they are important.Parent's have a powerful abillity to influence their child's behavior.Never feel your involvement is excessive. www.internetsafety.com 

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A pre-inspection can give a seller a competitive advantage in today's market where there is a surplus of homes for sale.It eases the mine.The seller is able to fix items that needs to be fixed that would come forth once the buyers began to look at the house which will make the house more marketable.The seller does have to pay the cost  and the buyer may want to have a inspection as well,but  it will help in the negotiation process.It is reassuring for buyers because the pre-inspection report can be made available for them to review.Buyers know if the house needs repairs and eliminates stress of renegotiations.In the long run it pays off ,they can lose money to keep the transaction from falling through.It can be used as a marketing tool as well to reassure buyers the seller's home is in tip top shape.On the other hand the home may be in bad condition but a pre-inspection report is disclosed up front,which will help.

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Come celebrate the Fourth of July in Wilminington NC !

Enjoy your day at Wrightsville or Carolina Beach NC

Friday 6:00 - 9:00 PM Downtown with music,food and fireworks.

Southport NC has a parade at 10:00 plus food,crafts,music and fireworks

Enjoy Oak Island Beach also

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