Veterans and Credit Utilization: Striking the Right Balance for Financial Health

Welcome to Day 12 of our series designed to empower our nation’s veterans with a solid grasp of credit intricacies. Today’s spotlight shines on credit utilization, a pivotal factor in determining credit scores. As veterans reintegrate into civilian life, understanding how to manage and optimize their credit utilization can be key to maintaining a healthy credit profile.

Breaking Down Credit Utilization: More than Just Spending

Credit utilization refers to the ratio of your current credit card balances to your credit card limits. It’s a measure of how much of your available credit you’re using. For example, if you have a credit card with a $5,000 limit and you’ve used $1,500, your credit utilization rate on that card is 30%.

Why Credit Utilization Matters to Veterans

Credit utilization is a significant component, contributing to 30% of your FICO score. A high utilization rate can indicate potential financial strain or over-reliance on credit, which might deter lenders. For veterans transitioning to civilian financial habits, being vigilant about their utilization ratio can help ensure their credit score remains robust.

Guidelines for Optimal Credit Utilization

• Aim for Low Ratios: It’s generally recommended to keep your credit utilization below 30%. This shows lenders you’re not maxing out your credit cards and can manage credit responsibly.

• Regularly Pay Balances: Even if you pay off your balance in full by the due date each month, high utilization can still impact your score if your lender reports the balance before you’ve paid it. Regular payments, possibly bi-monthly, can help maintain a lower utilization ratio.

• Request Credit Limit Increases: Without increasing your spending, a higher credit limit can reduce your utilization ratio. However, only consider this if you trust yourself not to overspend with the added credit.

Tailored Insights for Veterans

• Post-Deployment Debt: It’s not uncommon for veterans to accrue debt during deployments or periods of active duty. Prioritizing paying down these balances can improve both credit utilization and overall financial health.

• Utilizing VA Benefits: Certain veteran-centric financial programs or counseling services can offer insights and strategies tailored to manage credit utilization effectively.

• Avoid Closing Accounts Post-Service: If you’ve been using a credit card during service and are considering closing it post-deployment, think twice. Closing an account can reduce your overall credit limit, inadvertently increasing your utilization ratio.

Avoiding Credit Utilization Missteps

• Only Paying the Minimum: While paying the minimum amount keeps your account in good standing, it doesn’t help reduce your utilization ratio significantly.

• Accumulating Large Balances: Large purchases can spike your utilization rate. If possible, make immediate payments or spread out significant expenses.

• Ignoring Balance Alerts: Setting up balance alerts can help you stay informed and act promptly if your utilization rate goes beyond your desired threshold.

The Broader Picture: Utilization in the Credit Ecosystem

Credit utilization, while crucial, is one of several factors determining credit scores. While it’s essential to optimize it, it’s equally important to maintain a holistic approach to credit management.

Veterans, with their disciplined and systematic approach honed during service, can incorporate these principles into their financial management strategies, ensuring not just optimal credit utilization but overall credit health.

Wrapping Up Day 12: The Art of Financial Equilibrium

The essence of credit utilization is balance – a balance between available credit and used credit, a balance between financial needs and financial capabilities. For our nation’s veterans, mastering this equilibrium can lay the foundation for a promising financial future.

As Day 12 comes to a close, our commitment remains strong: to guide, inform, and empower our heroes in every aspect of credit. Tomorrow, we continue this journey, diving deeper into the multifaceted world of credit, ensuring that every veteran is well-prepared for the financial challenges and opportunities ahead.

The government says inflation is 10%. The government are liars. Have you noticed the cost of goods at the local grocery store. A 12 pack of soda cost $3.99 just a year ago. Cost of a 12 pack of soda is now over $10.00. That’s a 300% increase in price. I remember buying a two liter plastic bottle of RC for 0.99 cents. Now any two litter soda is $3.50 to $4.00. I can go on and on. A fully decked out brand new pick up truck or SUV can cost $100,000. With skyrocketing inflation numbers, Mortgage rates surpassing 8%, wages remain the same. I remember not to long ago a $100,000 annual salary was considered high income and wealthy. $100,000 with the inflation rates today is lower middle class. If you work for the government, you will get raises because the government print dollars through their printing press. There needs to be a change and people need to wake up and stop being in a state of denial

Veterans and Credit Inquiries: Navigating the Landscape of Hard and Soft Pulls

Welcome to Day 10 of our series dedicated to guiding our nation’s heroes through the intricate maze of credit. Today, our focus shifts to the realm of credit inquiries. For veterans reestablishing their financial footprints in civilian life, understanding the nuances of credit checks can play a pivotal role in safeguarding their credit health.

Demystifying Credit Inquiries: Hard vs. Soft Pulls

Credit inquiries, or pulls, happen when an entity checks your credit report. There are two main types:

• Hard Pulls (Hard Inquiries): These are initiated when you apply for a new credit line, be it a mortgage, credit card, or loan. A hard inquiry can impact your credit score for up to 12 months and remain on your report for two years.

• Soft Pulls (Soft Inquiries): These do not affect your credit score and occur when you or a company checks your credit for non-lending purposes, like pre-approvals or background checks.

The Importance of Monitoring Inquiries for Veterans

While inquiries contribute to only about 10% of your FICO score, an excessive number of hard pulls in a short time can signal desperation or financial instability to lenders. For veterans transitioning to civilian financial norms, being aware of the inquiries made on their report is crucial.

Strategies to Manage and Monitor Inquiries

• Space Out Applications: If you’re considering multiple credit lines, space out your applications. Lenders might view multiple hard pulls within a short span as credit-seeking behavior.

• Inquire About Inquiry Type: Before authorizing a credit check, ask if it’s a hard or soft pull. This can prevent unwanted dents to your score.

• Review Your Credit Report: Regularly check your report for any unauthorized or mistaken hard inquiries. If found, dispute them promptly.

Veterans and Credit Checks: Special Scenarios to Consider

• Rate Shopping: Many veterans, when seeking loans (like auto or mortgages), might shop around for the best rates. Credit scoring models usually consider multiple inquiries for the same type of loan within a short period (14-45 days) as a single inquiry.

• VA Loans: For veterans considering VA home loans, the lending institution will initiate a hard pull. However, the favorable terms and benefits of VA loans often outweigh the minor impact of the inquiry.

• Security Clearances: Some veterans may need security clearances for certain jobs, which could entail a soft pull on their credit.

Staying Informed: The Power of Knowledge

• Stay Updated: Ensure you’re aware of the latest credit scoring models and how they handle inquiries, especially if you’re rate shopping.

• Educate Yourself: Some credit monitoring services offer insights and tips about managing inquiries, which can be particularly useful for veterans unfamiliar with civilian credit norms.

• Seek Expert Advice: If unsure about the potential impact of an inquiry, consult with a financial advisor or credit counselor.

Avoiding Missteps in the World of Inquiries

• Impulse Applications: Avoid applying for credit impulsively, especially for store credit cards that might seem tempting at the checkout.

• Ignoring Your Report: Regularly check your credit report to ensure there are no unauthorized inquiries. This not only protects your score but also helps in early detection of potential identity theft.

• Uninformed Decisions: Not all inquiries are created equal. Be clear about the type and potential impact of each credit check before giving consent.

Wrapping Up Day 10: Inquiries as Gatekeepers of Credit Health

Credit inquiries, in many ways, act as gatekeepers. They’re the checkpoints that can either pave the way for financial opportunities or serve as hurdles if not navigated wisely.

For veterans, who’ve navigated far more challenging terrains, understanding the landscape of credit inquiries becomes another mission to master. And with the right knowledge and strategies, this mission, like many before, is entirely achievable.

As we conclude our insights for the day, our promise remains: to accompany our veterans, step by step, through their financial transitions, ensuring they’re equipped with all the knowledge they need.

Join us tomorrow as we continue our journey, further illuminating the path for our nation’s heroes in the world of credit.

Modular homes look great and are better than stick built homes for a fraction of the cost and time to build. Hands down a lot of house for the money. https://youtube.com/watch?v=e3sSdeQlBSM&feature=share8

Yes, it is possible to get a mortgage in Minnesota (or any other U.S. state) with bad credit, but it can be more challenging. Here are some things you might want to consider:

1. **FHA Loans:** Federal Housing Administration (FHA) loans are often a good option for those with bad credit. They are insured by the government and lenders are more willing to take on borrowers who are seen as higher risk. The minimum credit score for an FHA loan is generally around 580, but some lenders may work with borrowers who have lower scores.

2. **VA Loans:** If you’re a veteran or active-duty military, you may be eligible for a loan from the U.S. Department of Veterans Affairs. VA loans typically don’t require a minimum credit score, but the lender you choose might have its own requirements.

3. **Subprime Mortgages:** These are offered to home buyers with poor credit. However, they usually come with higher interest rates and fees to compensate for the additional risk the lender is taking on.

4. **Credit Union Mortgages:** Credit unions may be more willing to work with you if you have bad credit, especially if you’ve been a long-time member.

5. **Co-signer:** If you have a trusted friend or family member with good credit, they may be willing to co-sign the mortgage loan. This means they’re agreeing to take responsibility for the loan if you can’t make the payments.

6. **Work on Improving Your Credit:** Even if your credit is bad now, it might be worth it to spend some time improving your score before you apply for a mortgage. This could involve paying down debt, getting any errors on your credit report corrected, or simply making sure to pay all your bills on time.

Keep in mind that even if you can get a mortgage with bad credit, it might not be the best financial decision. You’ll likely end up paying significantly more in interest over the life of the loan than you would if you had better credit. Before you decide to get a mortgage, you should talk to a financial advisor to understand all the implications.

There has been a trend in recent years of Americans moving from higher-cost, typically more liberal-leaning states to states with a lower cost of living, many of which lean more conservative. This is a complex issue that involves many factors beyond politics, including housing costs, job opportunities, taxation, quality of life, and climate.

As of my knowledge cutoff in September 2021, there’s been a significant outflow of residents from states like New York and California to states such as Texas, Florida, and Tennessee, among others. While these trends may be influenced by political preferences for some, it’s important to note that not everyone’s reasons for moving are political. Many people are likely motivated by economic factors such as the cost of housing and the job market.

It’s also worth mentioning that migration trends can change over time due to shifts in the economy, changes in state and local policies, and evolving societal attitudes. For example, the COVID-19 pandemic significantly affected migration patterns as more people started working remotely, giving them more flexibility to live in places with a lower cost of living.

The impacts of such migration trends can be significant, affecting the economies, demographics, and political landscapes of both the states people are leaving and the ones they’re moving to. It can lead to shifts in political power, as reflected in the decennial redrawing of congressional district boundaries and the apportioning of seats in the House of Representatives.

To get the most current information, please refer to the most recent census data, state demographic data, or surveys from moving companies, as these sources can provide a more accurate and updated picture of migration trends.

Besides NEXA Mortgage, what other mortgage companies  offer revenue share and residual income and how does it work?

What are the Alternative Credit Tradelines, when and how to use?

Fannie Mae and Freddie Mac are the two largest institutional buyers of mortgage-backed securities on the secondary market.

Many manufactured homes are hands down better than stick built homes. You cannot tell its a manufactured home. Double wide manufactured homes are reasonable and affordable. Architecturally elegant, strong, and has all the upgrades of stick built custom homes.

Most people don’t know that El Yunque Rainforest is just beside Old San Juan, so the heat is broken up with beautiful (and cooling!) flash showers.

There are so many reasons to love our pets including their unconditional love and loyalty. In my home I have always valued the bond my pups have had with my children. My babies are their babies, too.

Francois is a legend. An award winning chef for decades, and has the best recipes for southern cajun food. Francois is also a food truck builder where he can deck out an old truck into a five star class AAA food truck. Going to be meeting Francois with some of his food sample so we can explore opening a restaurant and food truck business franchise. Stay tuned.

Jeremy Dewitte is a cop wannabe police impersonator

Jeremy Dewitte has gotten arrested for impersonating police officers since he was 17 years old. Since Jeremy Dewitte is not hireable as a POST certified law enforcement officer in any state of the nation, Jeremy Dewitte opened a funeral escort service company in the state of Florida. In his fleet of vehicles for funeral escort services, Jeremy Dewitte has vehicles that resemble law enforcement vehicles such as dressing up Ford Crown Vics, Ford Explorer SUVs and motorcycle with police look alike stripes,badges, and emergency flashing lights and sirens. Check out this video

https://www.facebook.com/share/v/PVYpy8obKqn6cb19/?mibextid=21zICX

• This discussion was modified 11 months, 2 weeks ago by  Gustan Cho. Reason: Spelling error
• This discussion was modified 10 months ago by  Sapna Sharma.

facebook.com

Serial Police Impersonator Arrested by Real Police (Part One) | Serial Police Impersonator Arrested by Real Police (Part One) #criminals #cops #police #chasing | By Real World CopsFacebook

Serial Police Impersonator Arrested by Real Police (Part One) #criminals #cops #police #chasing

Here is my story about my experience with Discover and the disputes I have been going through. Advise our viewers on this type of case situation if any of you run into it. Very time-consuming, stressful, and a total waste of time for me and my staff. I will start with the scenario of what has transpired from day one:

I am Gustan Cho Associates’s branch manager, a dba of NEXA Mortgage, LLC. We are a national mortgage lender licensed in 48 states, including Washington, DC, Puerto Rico, and the United States Virgin Islands. I am the manager of operations, support staff, and loan origination for the Oakbrook Terrace, Illinois, Branch NMLS 2315275 located at 17W662 Butterfield Road, Suite 305, Oakbrook Terrace, Illinois. The Oakbrook Terrace, Illinois, Branch is licensed in 48 states, including DC, Puerto Rico, and the Virgin Islands. We are the largest producing branch at NEXA Mortgage in production and have a lot of monthly expenses. I have two different types of credit cards to pay my monthly debts. Under no circumstances do I ever use my personal credit card for business related expenses. I mainly use my Discover credit card for my personal expenses. My personal expenses include anything that is not business related that cannot be written off from my income taxes. If you can review my Discover card statements for the past three years, you can see that only personal expenses such as fuel, groceries, shopping dog food and other merchandise for personal use from AMAZON, personal homeowners insurance. Now Discover is saying that I am responsible for payment even though it was not authorized for concurring charges on my Discover. Anyone had things like this happen? I will update you on the progress.

NEXA Mortgage issues us a corporate credit card from US Bank to pay all our branch expenses about the business. We are only allowed to charge business expenses. Any business expenses is charged to US Bank corporate business credit card. Business expenses includes rent, advertising expenses such as (YLOPO, RAVEN, ZILLOW, GOOGLE LEADS) expenses for leads, marketing, printing, co-marketing expenses with realtor partners, business lunches, travel, licensing, training and education, and any other direct and/or third-party business-related expenses. I have always use any business-related expenses on my corporate US Bank Visa card for business expenses and never my personal credit cards.

What is 100% Unsecured Business Loans For Small Business Owners? How does unsecured business loans work? What are the eligibility requirements and guidelines on unsecured business funding? How hard is it to get an unsecured business loan? What is the lending process on unsecured business loans? What is the step by step process on unsecured business funding? What are the types of small businesses that can benefit from small business unsecured funding?

What scoring model is the Credit Score Simulator based on?

A wildfire recently broke out near me in Orange County, and I could see the giant smoke plume from my place in Irvine for several days. It reminded me just how real the threat of wildfires can be here in California. If you’re not from the area, you’ve probably at least seen all the news about wildfires across the state.

While wildfires are something to be mindful of, there are plenty of ways to lower the risks—especially for homes in fire hazard zones. If you’re looking to buy a home, it’s good to understand where these zones are and what steps you can take to keep your property safer. Not all homes are at the same level of risk, but knowing about these zones can help you make more informed decisions.

What Is a Wildfire Zone?

Certain areas in California are marked as “Fire Hazard Severity Zones.” This means the area has a higher chance of wildfires because of things like weather, dry vegetation, and terrain. You might expect these zones to be mostly in rural places, but even some urban neighborhoods are at risk. Knowing if a house is in one of these zones is key.

Important Things to Know as a Homebuyer:

1. Check the Fire Risk: Before you get too excited about a house, find out if it’s in a high-risk wildfire zone. You can check using CAL FIRE’s map or ask your realtor for more information. This will help you understand what extra steps, like special insurance, might be needed.
2. Get the Right Insurance: Not all homeowner’s insurance covers wildfire damage, especially in high-risk areas. You might need to add more coverage to fully protect your home. Also, homes in wildfire zones usually come with higher insurance premiums, so keep that in mind when budgeting.
3. Look for Fire-Resistant Features: Some homes are built using materials that can resist fire, like concrete or metal roofs. When viewing homes in wildfire zones, ask about the building materials and whether the owner has made any upgrades to improve fire safety.
4. Defensible Space Around the Home: One way to help keep a home safe from wildfires is to have “defensible space.” This means keeping the area around the house clear of things like dry brush, dead leaves, or other stuff that can easily catch fire. When you’re checking out homes, see if the current owner has kept up with this—and be ready to do the same if you move in.
5. Community Efforts Matter: Some neighborhoods have strong community efforts to reduce wildfire risks. They might have a fire-safe council, evacuation plans, or firebreaks in place. Living in a community that takes fire prevention seriously can make a big difference in reducing your overall risk.
6. Be Ready for Evacuations: If you buy a home in a wildfire zone, there may be times when you have to evacuate, especially during fire season. It’s a good idea to learn the local evacuation routes and be prepared in case you need to leave quickly. This is especially important if you have pets or kids.

The Bottom Line

Buying a home in a wildfire zone doesn’t have to be a dealbreaker—but you do need to make sure you’re fully informed. Things like having the right insurance, keeping defensible space, and being ready for emergencies can make a big difference in staying safe and protecting your home. Staying aware of the risks and taking precautions can help you feel confident in your home-buying decision.

Have more questions about buying in these areas? Feel free to reach out—I’d be happy to help guide you through the process!

https://chadbushre.com/

My vantage scores are 699 and 703 but FICO is 645. I lost $1,000 after my landlord refused a reference last year. I also changed jobs for FT in a different industry. I had 2 years at last job and will be one year July for this position. Is there any hope? This is my last opportunity as I am 58. Looking at $40000-$60000 depending on my final pick.

Does anyone know if there Down Payment Assistant programs in the state of California that also cover the real estate agent commission fee? With the recent NAR settlement, I’m wondering if buyers with no cash on hand may have this as an option if the seller will not agree to a buyer agent fee concession. Thanks.

What does FHA Score Card Mean? Is that HUD GUIDELINES?

Felix, please post WHY NEXA WITH CEO MIKE KORTAS every Thursday at 1 pm CDT.and put a super sticky. Amanda, Jimmy, and Farah should definitely attend today in 50 minutes.

What type of down payment assistance mortgage programs are available in California.

Shots were fired at former President Donald Trump campaign rally this afternoon grazing the former President by his ear breaking his skin to make him bleed. There are no details about the shooter and how many people were involved. We have no news whether the gunman is caught or still at large. Once shots were fired, Secret Service Agents swarmed the podium for cover of Former President Donald Trump. Trump was whisked away by a team of Secret Service Agents into a black SUV for safety and medical assistance. Trump gave a fists up to relay he was alright to his supporters. From the look of things, former President Donald Trump seems not injured except for a graze by his ear but was bleeding. Excellent news is former President Donald Trump is safe and in good hands with the protection of the U.S. Secret Service. Me and members of GCA FORUMS will keep our members posted on any updates.

https://www.youtube.com/live/iYeUO1K5H9A?si=cLpX4PmNhKkNOust

• This discussion was modified 8 months, 3 weeks ago by  Harlan.

Americans are perplexed when they hear the mainstream media network and politicians announce the economy is doing great and we just had a soft landing. Joe Biden and his cronies such as Jerome Powell, Janet Yellen, Joe Scarborough, Jim Cramer, Chuck Todd, and other Democrats and far left liberals say What Inflation? The Economy is doing GREAT. Look at the stock market how high it is under the Biden Administration. We just had a soft landing. Look at the unemployment numbers and how low it is. All of these clowns are just big fat liars. You don’t need fake economic data and numbers. Unemployment numbers is not 3%. Inflation numbers is not 3%. Go to your nearest grocery store and look at the cost of groceries. Go get your cat repaired and see how much it costs. Go to McDonald’s and see how much a burger, fries, and soda is ($25 dollars easy). How much does it cost to feed a family of four? How much does it cost to care for your dog or dogs? How much does it cost to buy a car? Whether you like it or not, Americans need to face reality and face the facts they are being lied to by Joe Biden and the far left liberals. The dollar is not backed by any hard assets. The Federal Reserve Board is a money printing machine controlled by the Deep State, The Rothschild Family, George Soros, and the Globalists. How can career politicians like Joe Biden, Barack Obama, Bill and Hillary Clinton, Nancy Pelosi, and hundreds of politicians become multimillionaires without a real job or family inheritance. Impossible. Politicians and the deep state are stealing, lying, and printing money. They are not playing by the rules. Americans need to wake up and speak up. Americans need to voice their opinions and concerns. There’s no way we should have a commander in Chief of the United States of America who has stage six of dementia and has the nuclear code. Dementia Lying Cheating Joe Biden is a major liability for our country and is infested with corruption. We need to clean house. Expect a major stock market crash in the coming days, weeks, months. Expect a major real estate crash in the coming short term. The stock market and housing markets will plummet 50% to 90% or more. Expect a financial crisis worse than the 2008 real estate and financial meltdown. We should be ready for this correction so in two to three years we will have everything fixed under the leadership of President Donald Trump. The Federal Reserve Board will be destroyed and we will have a new monetary system backed by silver and Gold. We need to get Dementia Joe Biden and his cronies out of the White House and stop power hunger Jill Biden running the Executive Branch.

https://youtu.be/XMuRkDY1SRw?si=eWeZ0s8GS2JOBpKh

To Jill Biden, even at the cost of her husband Joe Biden making a total fool of himself around the the Globe, she’s pushing Joe to run for President of the United States. This is self fish, not right, inhumane, and right down evil. Jill Biden is an exact replica of Edith Wilson, First Lady and wife of President Woodrow Wilson who had a stroke in the White House 🏠. Jill Biden’s actions are despicable and outright wrong. Jill Biden is becoming very unlikeable among both parties Democrats and Republicans. Jill Biden has political aspirations of her own to become a United States Senator 🇺🇸 and is using her political goals and power hunger at the expense of her husband Joe Biden who is obviously suffering from late stage stage 6 dementia.

https://youtu.be/dl84TfPCqYk?si=Y7TfBsfQjYl0ARaS

How does VA HOME LOANS work?

The verdict is in on former President Donald Trump’s trial in New York. Former President Donald Trump has been found guilty on all 34 charges in his hush money case. Never before in history has a former president of the United States been tried after they left office of the Presidency. This trial of former President Donald Trump was politically motivated with many things wrong with even going to trial. No doubt the trial was politically motivated due to the fear and panic of former President Donald Trump running for office of the Presidency of the United States in November 2024. The charges against President Donald Trump are related to falsifying business records to conceal a $130,000 payment made to adult film star Stormy Daniels. This payment was part of an effort to prevent Daniels from going public with her claims about a 2006 encounter with Trump. This historic conviction marks Trump as the first former U.S. president to be convicted of felony crimes. The jury deliberated for 9.5 hours before reaching their verdict, which involved examining numerous invoices, vouchers, and checks connected to the reimbursement payments made to Trump’s former lawyer, Michael Cohen, who initially covered the payment to Daniels. The sentencing for Trump is scheduled for July 11, just before the Republican National Convention where he is expected to be nominated as the 2024 presidential candidate.

https://www.youtube.com/watch?v=NM1v-Tyvvso&list=RDNSNM1v-Tyvvso&start_radio=1

Democrat Doctor says Joe Biden has Parkinson Disease and states the signs of the disease. The doctors symptoms explains what Joe Biden is going through

It’s a must watch video.

https://youtu.be/qDnCAFptBJQ?si=7t0KCenCTjQiCIjH

It is no secret Joe Scarborough is Joe and Jill Biden’s number one ass kisser. Joe Scarborough has brought five star coverage of Joe Biden and unanimously crowned 👑 himself Joe Biden’s number one ass kissing freak show. Scarborough is thought about as the World’s biggest idiot and nobody respects him nor his show. He seems he’s more mentally ill than Joe Biden and is in the state of denial about how bad the economy is under Joe Biden’s watch. However, after Thursday’s Presidential debate with former President Donald Trump, the Biden Ass Kissing Freak Joe Scarborough 😜 seems he’s calling it TRUCE. Watch this video clip.

https://youtu.be/7mZ2VSoCZ38?si=ILpUX3ci1yDIK79V