The IRS has released IR-2009-083 reporting that approximately 1.4 million taxpayers have filed (or amended) there 2008 income tax returns claiming the $8000 first-time homebuyer tax credit. The IRS release of informaiton also reminds taxpayers of the importance of getting your home purchase closed before the December expiration of the tax credit. The IRS has publicized a YouTube video it has prepared to help taxpayers understand the basics of the tax credit.
The National Associations of Realtors (NAR) continues to put forth it full effords to extend the credit into 2010. Read the IRS Press Release.
Anita C. Young
Milicki & Associates, Inc.
110 Evans Mill Dr.
Suite 103
Dallas, GA 30157
770-874-2022
866-966-3022 toll free
information@milicki.com
http://www.milicki.com
Showing posts with label credit. Show all posts
Showing posts with label credit. Show all posts
Wednesday, September 30, 2009
Monday, July 13, 2009
Do You Have Above Average Credit?
"Do you Have Above-Average Credit?
Forty-two percent of U.S. consumers have credit scores between 550 and 699. As a result, these consumers typically don’t qualify for preferred interest rates and, depending on their overall credit profile, they may not even qualify for certain loans and credit cards. The primary challenge is that most consumers don’t understand what impacts their credit profile and, more importantly, don’t know what actions they can take to help improve it. This short quiz will help test how much you know about your credit profile and how it works.
1. To have the best credit profile impact, what is the maximum amount of your monthly credit line you should use?a) 70%b) 30%c) 50%
2. What is the top contributing factor to what makes a good credit score?a) Length of credit historyb) Amounts you owec) Payment history
3. If you pay 2% each month on your credit card (typical minimum payment), when will you pay off a $3,000 balance at 10% interest?a) 18 yearsb) 6 yearsc) 3 years
4. After paying off a high-interest credit card, you should:a) Continue using it occasionallyb) Close the accountc) Use the full amount of available credit every month
5. Applying for credit cards in order to just receive a free sign-up gift (t-shirts, mugs, etc.) has no impact on my credit profile?True or False
6. Rewards points on credit cards are a good deal when:a) I get cash backb) I get free airline ticketsc) I carry no balance each month
7. To have a credit score, I must have at least one creditor reporting activity on my credit report for:a) 12 monthsb) 8 monthsc) 6 months
8. Credit bureaus that manage your personal credit report data and credit scores are a:a) Government entityb) Non-profit agencyc) Regular business corporation
9. Banks and credit card companies think you are credit-worthy by how many credit offers you receive by mail?True or False
10. Credit scores are used by lenders mainly to: a) Tell how I compare to other consumersb) Tell if I make my payments on timec) Predict the likeliness that I will repay my loan on time
Answers: 1 - c, 2 - c, 3 - a, 4 - a, 5 - False, 6 - c, 7 - c, 8 - c, 9 - False, 10 - c
If you find you answered more than half of these questions wrong, you’re not alone. In a survey, we found that the majority of consumers do not know the answers to these and similar types of questions. On average, U.S. consumers have a total of 13 credit obligations on their credit report. These include installment loans (auto loans, mortgage loans, student loans, etc.) and credit cards (such as department store charge cards, gas cards, or bank cards). As a result of the numerous outstanding credit obligations, combined with the lack of proper knowledge and guidance about what impacts their credit profile, the average U.S. consumer ends up spending thousands of dollars on unnecessary interest expenses.
The good news is that it’s not too late. With a good understanding and proper guidance of how credit works, consumers can learn how to effectively manage their personal credit profile. Improvements can be obtained fairly rapidly with credit coaching services and the proper changes (no more trial-and-error stuff). Our survey group of customers who participated in a credit optimization and coaching service saw their credit scores increase by an average of 30 points in just four months as a result of more effectively managing their credit. More than ever, every responsible consumer should proactively evaluate, optimize and protect their credit before they have a required credit need or an issue arises.
Market Issues by Jeff Mandel and Marlin Brandt
Read more: http://rismedia.com/2009-07-11/do-you-have-above-average-credit/#ixzz0L9hxN2JV&C "
Milicki and Associates
110 Evans Mill Drive, Suite 103, Dallas, Georgia 30157
Office: 770-874-2022 Toll Free: 1-866-966-3022 Fax: 770-8742027
www.milicki.com info@milicki.com
Forty-two percent of U.S. consumers have credit scores between 550 and 699. As a result, these consumers typically don’t qualify for preferred interest rates and, depending on their overall credit profile, they may not even qualify for certain loans and credit cards. The primary challenge is that most consumers don’t understand what impacts their credit profile and, more importantly, don’t know what actions they can take to help improve it. This short quiz will help test how much you know about your credit profile and how it works.
1. To have the best credit profile impact, what is the maximum amount of your monthly credit line you should use?a) 70%b) 30%c) 50%
2. What is the top contributing factor to what makes a good credit score?a) Length of credit historyb) Amounts you owec) Payment history
3. If you pay 2% each month on your credit card (typical minimum payment), when will you pay off a $3,000 balance at 10% interest?a) 18 yearsb) 6 yearsc) 3 years
4. After paying off a high-interest credit card, you should:a) Continue using it occasionallyb) Close the accountc) Use the full amount of available credit every month
5. Applying for credit cards in order to just receive a free sign-up gift (t-shirts, mugs, etc.) has no impact on my credit profile?True or False
6. Rewards points on credit cards are a good deal when:a) I get cash backb) I get free airline ticketsc) I carry no balance each month
7. To have a credit score, I must have at least one creditor reporting activity on my credit report for:a) 12 monthsb) 8 monthsc) 6 months
8. Credit bureaus that manage your personal credit report data and credit scores are a:a) Government entityb) Non-profit agencyc) Regular business corporation
9. Banks and credit card companies think you are credit-worthy by how many credit offers you receive by mail?True or False
10. Credit scores are used by lenders mainly to: a) Tell how I compare to other consumersb) Tell if I make my payments on timec) Predict the likeliness that I will repay my loan on time
Answers: 1 - c, 2 - c, 3 - a, 4 - a, 5 - False, 6 - c, 7 - c, 8 - c, 9 - False, 10 - c
If you find you answered more than half of these questions wrong, you’re not alone. In a survey, we found that the majority of consumers do not know the answers to these and similar types of questions. On average, U.S. consumers have a total of 13 credit obligations on their credit report. These include installment loans (auto loans, mortgage loans, student loans, etc.) and credit cards (such as department store charge cards, gas cards, or bank cards). As a result of the numerous outstanding credit obligations, combined with the lack of proper knowledge and guidance about what impacts their credit profile, the average U.S. consumer ends up spending thousands of dollars on unnecessary interest expenses.
The good news is that it’s not too late. With a good understanding and proper guidance of how credit works, consumers can learn how to effectively manage their personal credit profile. Improvements can be obtained fairly rapidly with credit coaching services and the proper changes (no more trial-and-error stuff). Our survey group of customers who participated in a credit optimization and coaching service saw their credit scores increase by an average of 30 points in just four months as a result of more effectively managing their credit. More than ever, every responsible consumer should proactively evaluate, optimize and protect their credit before they have a required credit need or an issue arises.
Market Issues by Jeff Mandel and Marlin Brandt
Read more: http://rismedia.com/2009-07-11/do-you-have-above-average-credit/#ixzz0L9hxN2JV&C "
Milicki and Associates
110 Evans Mill Drive, Suite 103, Dallas, Georgia 30157
Office: 770-874-2022 Toll Free: 1-866-966-3022 Fax: 770-8742027
www.milicki.com info@milicki.com
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