Credit

How difficult will it be for me to find an apartment if I declare bankruptcy?

Question: How difficult will it be for me to find an apartment if I had to declare bankruptcy last year? Answer: The process can potentially be problematic for a renter who has filed a bankruptcy petition;  however one of our experienced agents may be able to show properties where the landlord will be understanding. In this connection, the potential renter needs to be prepared with a few items: 1. A reference letter from their current landlord representing they are good tenants; 2. A creditworthy guarantor to co-sign in the event they default with their rent payments; and 3. Additional security or pre-paid rent. De som skulle vara sublim bör ta en titt på balklänningar sålda Vi erbjuder ett brett utbud av balklänningar. Du kan välja färg, längd, stil, halsen, silhuett, etc. Känn dig fri att berätta din storlek och beställa en … Read More.

Business vs. Personal Credit Cards

Is having only a business credit card for my husband and myself detrimental to our credit? We would use it for all expenses (personal). I am a sole proprietor. The rewards are far better on the business card than the personal one. Thanks!   Business credit cards can be good for personal credit as long as they are reported to the three major credit bureaus (Trans Union, Equifax, & Experian). Some creditors that extend business credit cards do not update them to personal credit unless the card holder defaults. If you do open a business account you should first check with the creditor to make sure the credit card will be reported to your personal credit profile. It would be a good idea to have some regular credit cards as well since having a variety of credit is good for … Read More.

High Balances and Credit Scores

Q: If I want to help my credit score should I pay off all my credit card balances & my car loan?  I heard high balances on credit hurt scores? Read More.

Will charge offs on my credit affect my ability to take out a personal loan?

Q: In the past couple years, I have had 3 charge offs on my credit (one is a cable bill and the others are credit cards). If I pay them off, how much will they affect my credit and my ability to get a personal loan? Read More.

If I close an old credit card that I never use, will it hurt my credit?

Q: I am thinking of closing an old credit card that I never use will this hurt my credit? I am planning on buying a property and don’t want my score to drop.  Read More.

Is it necessary to disclose my financial information at the time I submit my offer on a co-op?

Q: When an offer is made to a seller in a co-op building, is it necessary at that time to provide the seller’s broker with financial information? Twice after I provided a rather detailed financial statement upon my broker’s request, the seller then came back and raised the price 10%. My broker assured me that my financials met the criteria for the building and, in both cases, I met what the seller asked for or what the broker told me the seller would take. I believe the disclosure has been a disadvantage to me, and that after the sellers have seen my financials, they have been led to believe I would offer more. Read More.

How can I tell if a credit repair company is legitimate?

Q: I am thinking of purchasing a property within the next year and I need to fix my credit. How can I tell if a credit repair company is legitimate? Read More.

How many years does it take to clear your credit when you owe money?

Q: How does owing money on a credit card affect credit scores and how long does it take for the bad credit to clear from your history? Read More.

Can you pay a broker fee in installments?

Q: Would you ever consider a payment installment plan for your broker fee? For example, if I found a place through you and was able to pay the 12-15% fee, could we set up a structure to pay that fee over the course of a couple weeks? Many thanks. Read More.

How does a co-op board interoperate debt-to-income ratio?

Q: When buying a co-op in Manhattan on Park or 5th Avenue, how does the board interoperate debt-to-income ratio? Is debt considered just the maintenance? Read More.