YOUR CREDIT RATING IS CRITICAL (part two)

USE YOUR CREDIT WELL:

If you are in the process of trying to improve your credit score, rebuilding after a disaster, you need to be particularly careful.

PAY BILLS ON TIME:

The biggest chunk of your credit score is likely to be your payment history. Become religious about making sure all your bills are paid on time, all the time.

USE THE CREDIT YOU HAVE:

Make a few small purchases every month using your plastic-but no more than you can pay off each month.

KEEP YOUR BALANCES LOW:

Somebody who has good credit can occasionally afford to run up a big balance on a credit card, but not you. You shouldn't use more than 30% of the limits you have. Keep track of your purchases in a check book register or just check your balances frequently on line. These cards are not an excuse for you to carry debt. The plastic you have now is meant to help rehabilitate your beaten-up credit.

PACE YOURSELF:

It's never a good idea to apply for a bunch of new credit in a short period of time, especially when you are trying to rebuild a score. Wait about six months between applications for credit, and don't apply for cards just to see if you'll be accepted.

DON'T COMMIT THE BIGGEST CREDIT REPAIR MISTAKES:

Fixing your credit can be a long, involved process, with many opportunities to make a mistake. The three biggest mistakes to avoid are:

1. Hiring a "fly by night" firm. You can pretty much assume it's a scam if the company guarantees results in    advance, want's to charge you a big up-

    front fee, or suggest that you create a new credit report by using a different social security number or taxpayer I.D. number. Look for a legitimate

    law firm.

2. Failing to get everything in writing. The phone is not your friend. If you must have a phone conversation, make copious notes. You are better off

    conducting credit repair in writing.

3. Reviving the Statute of Limitations. States have different rules about how long a creditor can sue you over a debt, with most limiting the period

    to 3 to 6 years. Making a payment on an old debt, or even acknowledging that you owe it, can revive the statute and leave you vulnerable to a

    lawsuit. Make sure you know the rules of your state, when dealing with old debts.

For all your real estate and insurance needs, and helpful hints, contact LEGACY REALTY GROUP, "The New Star in Town", Edison, New Jersey

732.744.0400.

YOUR CREDIT RATING IS CRITICAL:

Whatever the reasons, and "until you can back on your feet", if you are having difficulty keeping up with your monthly responsibilities, try prioritizing your bills by dividing them into three categories:

1. ESSENTIAL BILLS-the ones that if you didn't pay, could result in catastrophic consequences.

    THE BILL                                                                               CONSEQUENCE FOR NOT PAYING
    Mortgage or rent                                                                      Foreclosure or eviction
    Home equity loans/lines of credit                                               Foreclosure or eviction
    Groceries                                                                                 Starvation
    Utilities                                                                                     No lights, heat, water or phone
    Payments on car needed for work                                             Loss of job
    Essential medical treatments                                                      Death or serious illness
    Child support                                                                            Jail

 2. IMPORTANT BILLS-the ones you should pay if possible. Failure to pay would have serious consequences.
  
    THE BILL                                                                                CONSEQUENCE FOR NOT PAYING
    Income taxes                                                                             Wage garnishment/loss of tax refund
    Court Judgments                                                                        Wage garnishment
    Student loans                                                                             Wage garnishment, loss of tax refund
    Loans secured by property you want to keep                              Repossession of property
    Auto Insurance                                                                           Loss of license/Fine
    Medical Insurance                                                                      Catastrophic medical bills

3. NON ESSENTIAL BILLS-debts not secured by property. Failure to pay will affect your credit score, but skipping payments won't put you out on

    the street.
    THE BILL
    Credit cards
    Department store cards
    Gas cards
    Medical bills
    Legal bills
    Personal loans from friends or family

You might have other bills not mentioned here. Use your best judgment to categorize them.

For all your Real Estate and Insurance needs and helpful hints, contact LEGACY REALTY GROUP, "The new Star In Town", Edison, NJ

732.744.0400

HOME MORTGAGE LOANS



If you are shopping for a home today, you might be interested in the
following, helpful information about mortgages and obtaining them.

A home loan typically is the largest debt a consumer incurs. Choosing
a mortgage is a big decision and has many variables to consider.



One of the big mistakes home buyers make (particularly first time
buyers) is underestimating the expenses related to home
ownership---including maintenance and repair costs, property taxes and
homeowners insurance. These can catch up with you and lead to possible
credit problems. Still, owning a home is part of the American dream
and is a great goal to reach, both personally and financially. People
rarely lose money by owning a home.....usually make money if and when
they decide to sell. Home ownership generally tends to improve the
financial circumstances and attitudes of people. Once you've analyzed
all of the costs associated with your new home, you should have an
idea how much you can afford to pay each month for your mortgage, and
before you start shopping for a home, you're ready to talk to
potential lenders.



QUALIFYING RATIOS



Keep in mind, lenders look at "qualifying ratios" because they want to
know what percentage of your income you will be spending on a monthly
payment.

The front Ratio compares your monthly income with your house payment.
Most lenders want to see a ratio of 28% or lower, meaning that you'll
be spending no more than 28% of your monthly gross income on your
mortgage.

The other ratio is the "back ratio" which considers  your house
payment, plus all other monthly debts, like auto loans, credit cards,
etc. Not too long ago, a back ratio of 36% was the limit, but today
most lenders have loosened the restrictions somewhat.



When you start shopping for a mortgage, you should contact more than
one potential lender to compare interest rates and other terms
associated with the loan.

Start by researching mortgages through:

> your bank or credit union, > other banks that offer mortgages > on line lenders > mortgage brokers.

A large number of consumers choose to shop through a mortgage broker
since they have access to loan offered by many banks. A good broker
will find you the best deal, considering the property, your
preferences and your credit score. Once you have made that decision,
be sure to obtain a pre-approval letter from your lender prior to
house hunting. Based upon current interest rates and your credit
history, a pre-approval letter is a binding commitment to lend you the
money for your mortgage.

Many potential buyers are in possession of a pre-qualification letter,
which merely states that based upon information you have given them
(without having checked your credit) you qualify for the loan.

Our advice is to seek a binding, pre-approval commitment letter,
especially if you are buying in a hot real estate market, where it may
be necessary.

GOOD LUCK WITH YOUR HOUSE HUNTING.



For all your Real Estate and Insurance needs and helpful hints,
contact LEGACY REALTY GROUP, "the new star in town", Edison, NJ.
732.744.0400

HOME SECURITY:

 The advice in this report is based on two principles:

•Making your property look less appealing to burglars

•Make your property look harder to break into
 AND VERY IMPORTANT....either you or your kids, don't make what you may think is a harmless announcement on Social Media, Face Book, Twitter, or any other form, etc. that you are going on vacation, visiting relatives, etc. and how long you intend to be away.
 
~~~
1. “Think like a burglar”

Here’s a surprisingly effective way of spotting the vulnerabilities in
your property’s security:

 Lock yourself out of your property, then think about how you’d break
in. Faced with this challenge, you’ll start to think creatively about
how a burglar might gain entry.

You may spot open windows. You may see walls and trash cans as being
props for gaining entry. If it’s dark, you may notice that certain
areas of the property are unlit. You may even notice access points
that you had forgotten existed!

Burglars look for the weak link—the “chink in your property’s armor.”
By simply spending five minutes looking at your property from a
burglar’s point of view, you can identify your property’s weak spots.

2. When you go away for a few days, don’t leave clues

If you’ll be away from your property for a few days, cancel any
deliveries (such as newspapers). Also, ask a neighbor to push in any
other mail such as free newspapers and leaflets. If you have a porch,
ask them to collect mail so it is not visible from outside.

 Lights on timers can give the illusion that someone is in the property.

3. Safe havens

Are there any parts of your property that could allow an intruder to
work undetected? For example, ensure that a garage is fitted with
secure locks, and that any door leading from the garage is
particularly secure.

Electronically protected up-and-over garage doors can provide good security.

 Also, be aware that high hedges and bushes can screen a burglar from
the road or from neighbors.

4. Sheds

Make sure sheds are securely padlocked—and possibly alarmed. Tools in
the shed could be used against you: for example, a hammer could be
used to break glass, or a spade could be used to lever open a window.

5. Keep ladders locked away
In part 1, we discussed how a burglar could use nearby items as props.
Ladders are particularly useful to burglars, so make sure you keep
yours locked up. If a ladder must be stored outside, padlock it to the
wall with special brackets.

6. Accessible windows

Burglars hate broken glass. Although they often gain entry via a
window, they usually do so by breaking the glass then opening the
window using the handle.

Fit locks to all windows, especially those with easy access—for
example, ones that are near flat roofs—or that could be accessed by
climbing a drain pipe.

7. Security lights

Motion-sensitive security lights can be very effective when placed
above entry points such as rear doors. In fact, a light above your
front door can allow you to see who’s calling at night. Ensure the
lights are well out of reach of intruders.

 8. Keys

A key is the easiest way to get into a house, so never leave keys in
locks—which would allow burglars to break through a glass pane and
open the lock using the key. Also, don’t leave keys under mats or
hanging inside the letterbox.


 Finally, don’t have your name and address on your key chain. If you
were to lose your keys, you’d have to change all of your locks.

If you do lose your keys and you receive a phone call from someone who
has found them, be particularly wary--they may be luring you away from your property so they can break in.

For all your Real Estate and Insurance needs and helpful hints, contact LEGACY REALTY GROUP, Edison, NJ. "The new star in town", 732.744.0400.

SPEAKING OF TIME MANAGEMENT...........

Like so many millions of others, if you are having trouble managing your time effectively to get things done, and make your life better, consider these words of wisdom (some humorous) from some well known sources you should recognize.
1.  GOLDA MEIER: "I must govern the clock....not be governed by it"
2.  ARTHUR SCHOPENHAMER: "Ordinary people think merely how they will spend their time-a person of intellect tries to use it".
3.  ANONYMOUS: "It is critically important to listen to your body and instincts. What works beautifully for one person, tires and frustrates someone
     else.
4.  JAMES MICHENER: "Don't put off until tomorrow what you can do today, because if you enjoy it today, you can do it again tomorrow"
5.  MURPHY'S LAW: "Whenever you start out to do something-something must be done first".
6.  HENRY FORD:  "Nothing is particularly hard if you divide it into small jobs".
7.  ANONYMOUS: "Schedule the most demanding, challenging tasks during the time of day when you have the most energy".
8.  WOODY ALLEN: "80% of life is just showing up".
9.  DR. ERIC ALLENBOUGH: Everything becomes different when we choose to take control, rather than be controlled. We experience a new
     sense of freedom, growth and energy".
10. CHARLES BENTON: "You will never 'find' time for anything. If you want time, you must make it."
11. FLIP WILSON: "Don't let your mouth write a check your body can't cash".
12. ANONYMOUS: "Become aware that saying YES to someone else is usually a NO to something you had planned for yourself. The purpose of
      saying NO once in a while, is to give yourself control over your time".
13. BERNARD MELTZER: "I really cannot give you the formula for success-but I can give you the formula for failure. Try to please everyone".
14. ANONYMOUS: "No executive ever looked back on his or her life and said, I wish I had spent more time at work".
15.        "                 "If you want to do better, you've got to do different".
16.        "                 "Minds that don't change are like clams that don't open".
17.        "                 "Every person starts the day with 86,400 seconds"
18. STEVE JOBS: "Your time is limited, so don't waste it living someone else's life".
19. JOHN LENNON: "Life is what happens to you while you are busy making other plans".
20. GEORGE ELIOT: "It's never too late to be what you might have been".
21. ALLAN DALTON: "In order to do something well, you have to be willing to do it poorly".

These often heard, and sometimes not so often heard quotes are for your enjoyment and worth remembering.

For all your Real Estate and Insurance needs & helpful hints, Contact LEGACY REALTY GROUP, EDISON, NJ. 732.744.0400

                       PROTECTING YOUR FAMILY FROM LEAD IN YOUR HOME: (part three)



                                                 CHECKING YOUR HOME FOR LEAD:

                                You can get your home tested for lead in several different ways:

>A paint inspection, tells you whether your home has lead base paint and where it is located. However, it will not tell you whether or not there is a
  lead hazard.

>A risk assessment, reveals if your home currently has any lead hazards from lead in paint, dust or soil. Also describes what action to take.

>A combination risk assessment & home inspection, tells you if your home has any lead hazards, if your home has any lead based paint and the

  location(s).

HIRE A TRAINED AND CERTIFIED TESTING PROFESSIONAL WHO USES A RANGE OF
RELIABLE TESTING PROCEDURES WHEN TESTING YOUR HOME:

>Visual inspection

>A portable X-Ray fluorescence (XRF) machine.

>Lab test of paint, dust and soil samples.

Home test kits are available, but not always accurate.  To assure
safety,Consumers should not rely on these kits before undertaking
renovations.



WHAT YOU CAN DO NOW, TAKING SOME SIMPLE STEPS TO REDUCE YOUR FAMILY'S RISK:

> If you rent, notify your landlord of peeling or chipping paint.

> Clean up paint chips immediately.

> Clean floors, window frames & sills, and other surfaces weekly. Use a mop or sponge with warm water and a general all purpose cleaner, or a

   cleaner made specifically for lead. Never mix ammonia and bleach
products together. They can form a dangerous gas.

> Thoroughly rinse sponges and mops after cleaning.

> Wash children's hands often, especially before meals, nap time and bed time.

> Keep play areas clean. Wash bottles, pacifiers, toys and stuffed animals regularly.

> Keep children from chewing on window sills or other painted surfaces. This is common when babies are teething.

> Clean or remove shoes before entering the home to avoid tracking in lead from soil.

> Make sure children eat nutritious meals high in Iron and Calcium. Children with good diets absorb less lead.



There are many projects a homeowner can tackle to save money. Trying
to remove lead based paint, dust or soil, should not be one of them.
Don't take chances !!!!





Federal and State programs are in place to ensure that testing is done
safely, reliably and effectively. You can call 1-800-424-LEAD(5323)
for a list of contacts in your area.



For all your Real Estate & Insurance needs, and helpful hints,
contact, LEGACY REALTY GROUP, "The New Star In Town", EDISON, NJ.
732.744.0400

PROTECTING YOUR FAMILY FROM LEAD IN YOUR HOME (part two)

LEAD'S EFFECTS:

It is important to know that even exposure to low levels of lead can severely harm children:

IN CHILDREN, LEAD CAN CAUSE:
> Nervous system and kidney damage.
> Learning disabilities, attention deficit disorder, and decreased intelligence.
> Speech, language and behavioral problems.
> Poor muscle coordination.
> Decreased muscle and bone growth.
> Hearing damage.
While low level, lead exposure is most common, exposure to high levels of lead, can have devastating effects on children, including seizures, unconsciousness, and in some cases, even death. Although children are especially susceptible, lead exposure can also be dangerous to adults.

IN ADULTS, LEAD CAN CAUSE:
> Increased chance of illness during a pregnancy.
> Harm to fetus, including brain damage or death.
> Fertility problems in men & women.
> High blood pressure.
> Digestive problems.
> Nerve disorders.
> Memory and concentration problems.
> Muscle and joint pain.

CHECKING YOUR FAMILY FOR LEAD:
Consult your Doctor for advice on testing yourself and children. A simple blood test can detect high levels of lead. Especially recommended for:
> Children and ages 1 and 2.
> Any family member, who you suspect may have been exposed to high levels of lead.
> Children who should be tested under your State or health screening plan. Your Doctor can explain what the test results mean, and if more testing will be needed. If you notice one, or more of the above mentioned symptoms in your child or yourself, contact your Doctor immediately.

For all your Real Estate and Insurance needs, and more helpful hints, contact LEGACY REALTY GROUP, "the New Star in Town". Edison, New Jersey, 732.744.0400