Start asking better questions to the right people. Spend a little extra time making sure you get the best deal, interest rate, and terms. Here is why?
1. How did a successful small businessman save $706.52 per month or $42,391.20 over five years? By going from 7% to 5.75% on a $965,000 refinance on his business, property, and equipment. How did he do that? He asked the right person better questions.
2. How did semi-retired man drop from 6% to 5.125% on an $840,000 refinance on his home? You guessed it; he asked the right person better questions.
3. How did a single mom foster parent stop a $450 per month wage garnishment and turn it into a $50 per month slow pay motion? She asked the right person better questions. One 15 minute phone call kept $4,800 per year in her pocket. Do you think we have a better position to negotiate a dramatically lower settlement off now that she only has to pay $50 per month? Oh yes, we are, and if we aren’t, she can save up to file Chapter 7.
These three past client examples are people who had no shortage of “experts” who were long on opinion and short on facts. Hold up before you accuse me of being cocky. We all have our “thing” and anything credit related is mine. It is a weird gift. Change the topic to almost anything else, and the confidence in my voice disappears almost immediately.
Credit and anything credit related has always made sense to me. Even back in 1997 when I was a real estate agent with three kids in diapers, I knew that credit and lending had an order to it. I realized early on I didn’t have to reinvent the wheel with each person needing a mortgage to buy a house with me as their agent. I just had to find out what the rules were and follow them.
One thing that stuck out to me then as much as it does now is the need to see the big picture. How it all fits and why and how.
Why/How:
Why – Lenders want to see at least three pieces of open credit
Why – Credit utilization counts for almost one-third of your score
Why – Having the right amount of various types of credit accounts is so important
Why – Even small medical collections impact your score, no matter what they tell you on the internet machine
How – Credit scoring and fiscal responsibility are two different subjects. You have to have credit and pay interest just not too much credit and too much interest. But it doesn’t have to be a debt derby. You can have all the score building credit you need to push your scores to 800 and pay less than $5 per month in interest.
Why – Fake scores are a multi-billion dollar industry. Sprinkling just enough truth into credit sites is good for business. The confused are easily misled.
You don’t have to know it all. You have to know enough so that you can question everything and everyone. Why and How questions are the best tool in your arsenal. Why and How questions will quickly separate those who know from those who don’t know. Believe me when I tell you that not knowing the answer will not stop the “expert” in your life from answering enthusiastically.
The chances of you asking me how do I get a better interest rate type question and my answer saving you thousands of dollars is pretty good. Try my new I bet I can save you money on every home, auto and business loan you seek even when you are pre-approved already. You only pay if I find you a better loan. Give me a try in January for $50 – https://4stepcredit.com/contact-us/
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