After the wedding bells stop ringing and the bills for the dress, flowers, photographer and honeymoon arrive, many newlyweds find their physical and emotional compatibility may be trumped by their financial incompatibility.
Money is a major sticking point in many new marriages and the number one cause of divorce and marital fighting. However, it doesnt need to be. From Marriages to Mortgages can assist newlyweds and newly engaged couples to align their monetary values and beliefs to create a thriving marriage.
The process of purchasing your first home can be intimidatingthe paperwork, required explanations, someone reviewing your debt and financial mistakes with a fine-toothed comb. While each situation can be different, this book was written to provide you with information on what to expect, how to approach these important decisions, and most of all, how to work with your partner, to make the process something enjoyable for the both of you!
Whether you are in the planning stages of your wedding, are newlyweds, or are simply looking for information to assist you with anythingfrom Marriages to Mortgages, you will find help, humor, insight and guidance right here! Take a moment to subscribe, or bookmark us, so you can be notified when new information becomes available! Contact Kathleen at: info@marriagestomortgages.com
03.18.07 
Uncategorized, Marriages, Mortgages, General 
No Comments
You knowyears ago, our grandparents were given loans and mortgages on their handshake!!! Now..our handshake is our credit bureau. Just the same as you would not want to hold out your hand to shake mine if you had dirty hands, you would clean your hands firstsame with your credit bureau. Worthwhile taking a look at it before anyone else does to make sure it represents who you are with the correct information. Whatever might be there might just not be the same as what you think! Some one might have spelled your name wrong or perhaps put the birthdate in the incorrect order. Very simple things can influence your credit score so easily that it is really worthwhile taking a look!
5 things that make a difference to improving your credit score
1. payment history
2. outstanding credit balances (pssst.never exceed 70% of the credit limit and you increase your score by 30%!!!)
3.credit history (how long have you been on the credit bureau database)
4. type of credit (at least 2 or 3 trade lines boost your score)
5. inquiries (too many bring your score downwatch carefully who accesses your credit)
Sometimes just a tidy up of your details will improve the overall approach the lender will take with your application. When a client takes responsibility for knowing what is on their credit bureau, itsays a lot about your character and THAT.. is a good thing!
03.18.07 Mortgages No Comments
Before you hire the contractorask for
References!!!
This is the questionnaire to complete before you sign on the line with the one person that can either make your dreams come true or not!
Contractor:
Customers Name:
Date Interviewed:
Telephone Number:
What work did the contractor do for the customers?:
When was the work completed?:
How did the customer learn about or find this contractor (i.e. referral, advertisement, etc)?:
Did the customer consider other contractors before hiring this company?:
? Yes ? No
If YES, what factors led them to choose this contractor?
Were there any problems with any aspect of the contractors work or service?
Read more
01.20.07 Uncategorized, Marriages, General No Comments
In games of chance somebody wins, but no effective wealth is being created. This deception can harm the marriage often causing excessive expenses. A collective attitude is created, imbued with the erroneous belief that someone can escape their current situation by means of a stroke of luck, rather than gradual improvement using creativity, effort and work. This abandons the true source of authentic wealth through creativity and work, and causes a productive disinterest that results in harm to the marriage. Cosmically this type of practice is incorrect, not only for its evident injustice, but because it destructively generates an attitude of non-production while waiting for a change of fortune in which nothing is being produced.
Read more...
01.18.07 Uncategorized, Marriages, General No Comments
Now THAT is not something Mom and Dad would ever have considered and probably will not enjoy hearing your comments about this option, but in todays market place it actually makes sense.
To save up for a down-payment can actually take some time. While you are saving the values of homes are increasing and your landlord is paying His mortgage with Your rent payments! Lets see, pay your own mortgage or pay someone elses? Hmmmmmmmmmm
Well then, how does it work?
It works by meeting all the other lending criteria well and only one thing remains - the down payment
Should you wait and see?
Well, it may mean that your credit score might drop in the meantime or perhaps that car purchase looks like it might be of interest.
Which is better the new car or a new home?
You have to live somewhere! Do you think the car offers good Feng Shui if you have no where to live? Lots of room to grow in the back seat of that new car? Think again. Cars are depreciating assets, houses tend to be appreciating assets. If we are purchasing depreciating assets over appreciating assets it wont take us long to be in a rut and now paying the price to get out. Take a long look at home ownership from all angles before you buy the car. Tempting! I know!!!!
Do the math.
The house appreciating at your local market level even if it is 1 to 4% it will still mean that you are not paying tax on it, your contribution to a mortgage means that it is reducing in size as you make your payments and pride in ownership gets you to reconsider buying that extra night out on the town vs having the stability factor of owning a home. Nope not house poornot if you own itYour level of interest makes the difference!
Not to say there are not other costs but if you sit down and work out the strategy and do the time line you will see the results.
Write a list of things that you think you need.
Here are some common questions to consider:
- Can I afford the payment? (rule of thumb, no matter how much money you make, whatever you are paying in rent should not be exceeded by more that a couple of hundred dollars over the rent payment for the mortgage payment.)
- What if I lose my job? That would be the same answer if you were renting as well
- I dont want to be house poor see #1 as the payment that you rent and the payment that you pay for mortgage is very similar. With a mortgage it can be set to remain for as along a term as you want to pick. With rentno guarantee that it will remain the same. Some territories have rules to hold the rent and increase it yearly or can change if the property is sold to someone else. So? Think again.no guarantee when you rent.
- Well we can live with Mom and Dad and save up our down-payment . Yep that is a choice..but.
- My Mom and Dad always said to pay off your mortgage , I will never pay it off when I dont put any money down! Actually when Mom and Dad bought they didnt know about prepayment privileges and most mortgages come with an ability to pay down your mortgage either with accelerated payments and increasing payments every year or by using the principal only payment. This will allow you to apply a direct payment to the principal, With some you would have the mortgage completely paid in 5 to 7 years if you were able to exercise the prepayment option.
- What if I want to sell my house and move somewhere else ? All possible, again most mortgage contain a privilege to either port your mortgage (take your mortgage like a suitcase with you) or transfer your mortgage to a new purchaser upon them being able to confirm they can afford to make the payments. If you were to have someone take over your mortgage you would be asking the lender if you could have your personal covenant removed.
- What if I am transferred to another community? There is usually an option to allow you to break the deal (term) prior to the date it comes up for renewal by paying a penalty. It is better to really work on your strategy as to how long you intend to live in the home before deciding to move and working out the details of what that takes to make that happen. For example. If cars are going to have to be replaced, it is better not to have that happen in the same year that the mortgage comes up for renewal. Offsetting years is a good strategy so build your time line and place it on your fridge so you can view it as a landscape and be able to see clearly what you already are aware of that would impact your decisions in the future. The decisions we make today influence what happens later, this is not news but it really is amazing how little time is put into planning to buy this investment.
01.15.07 Mortgages No Comments
Planning a wedding is no small feat. Hundreds of details need to be taken care of, decisions made and plans finalized. But where do potential brides go for local information on all the elements needed to pull off the perfect wedding here in Ottawa? On February 26th, KISS FM will re-open the Virtual Wedding Show at http://www.1053kissfm.com/weddingguide/guides.jsp?content=mtom.jsp to thousands of potential brides, family, parents, friends and co-workers.
KISS FM will host this wedding fair in their virtual conference centre which will feature booths from every facet of wedding planning. Kathleen Caught will be the Officiant for this wedding. Please feel free to visit the Virtual Conference Centre via this link: http://www.1053kissfm.com
01.03.07 Uncategorized No Comments
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