Posts Tagged ‘Made’
March 19, 2015 | 
Author Mortgage Banker, Mr. Jason M. Ruedy, Redacts a Statement Made About Credit Scores Not Being Affected by Mortgage Shopping
Denver, Colorado (PRWEB) March 17, 2015
Mortgage Banker, Mr. Jason M. Ruedy, also known as The Home Loan Arranger, redacts a statement made in a press release issued on February 24, 2015 regarding whether a person’s credit score will absolutely not be affected by shopping around for a mortgage.
In the press release Mortgage Banker, Mr. Jason M. Ruedy, Affirms “Your Credit Score Will Not Take a Hit as a Result of Shopping for a Mortgage”, Mr. Ruedy states that “it will not damage a person’s credit score to shop around for the best possible mortgage – even if multiple credit checks are necessary.”
As referenced in Mr. Ruedy’s February 24, 2015 press release, according to an article published on NYTimes.com on January 30, 2015 entitled Mortgage Shopping and Credit Scores, “Borrowers need not avoid shopping around for the best mortgage deal out of fear that allowing multiple lenders to “pull,” or check, their credit will chip away at their score. The notion that a flurry of credit inquiries from mortgage lenders will lower a borrower’s score is a common misconception, experts say. The truth is that five inquiries are likely to have no more impact than one, provided they are made within a compressed period of time.”
“I realized after my February 24, 2015 press release was issued that the words “will not damage a person’s credit score” were too definitive. In reality, if a person seeks multiple inquiries – all within a period of 45 days – the inquiries should be considered as one inquiry by the credit reporting agencies. But if multiple inquiries are made over a period of time lasting longer than 45 days, there is a possibility that the extended period of shopping could have an impact on a person’s score, albeit probably minimal.” – Jason M. Ruedy,
The Home Loan Arranger
Mr. Ruedy reiterates that credit checks completed by mortgage companies should not be seen as the same as credit checks from credit card companies – and the inquiries should not have the same potential for a negative impact on a person’s credit score.
“I still believe that worrying about a credit check by a mortgage company is not a reason to not consider purchasing a home or financing. I just want to clarify that mortgage-related credit checks should be the least risky to your credit score when all inquiries are completed within a 45-day timeframe. – Jason M. Ruedy, The Home Loan Arranger
According to Mr. Ruedy, the best course of action is to seek the advice of a trusted mortgage banker or mortgage broker if you have questions or concerns about how mortgage shopping may affect your credit score.
About The Home Loan Arranger:
Mr. Jason M. Ruedy, also known as The Home Loan Arranger, has 20+ years of experience in the mortgage business. His company was built around the crucial principles of hard work, discipline, and determination. The Home Loan Arranger evaluates client applications quickly and efficiently and structures loans with the best possible terms. Mr. Ruedy is successful in achieving loan closings for clients while meeting their highest expectations. Jason M. Ruedy is ranked #2 in the state of Colorado by Scotsman Guide, which is the top leading resource for mortgage originators.
For media inquiries, please contact Mr. Jason M. Ruedy, “The Home Loan Arranger”:
The Home Loan Arranger
512 Cook St #100
Denver, CO USA
Phone: (303) 862-4742
Toll Free: (877) 938-7501
http://www.thehomeloanarranger.com/
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, Vocus PRW Holdings, LLC.
Vocus, PRWeb, and Publicity Wire are trademarks or registered trademarks of Vocus, Inc. or Vocus PRW Holdings, LLC.
Financial Choices Made Early have a Tremendous Impact on Later Years
San Diego, CA (PRWEB) September 11, 2012
RoadFish.com men’s lifestyle and finance magazine today released their support of the education of Generation Y while in their twenties, since developing financially responsible habits while in the twenties may prove to be a key to obtaining wealth later in life. RoadFish.com’s take on this may help U.S. consumers, college students, and recent grads realize the impact their financial decisions could have on their later years.
Lawyer and financial blogger Rob Berger recently wrote an article featured in the online financial publication Dough Roller that highlights how the decisions he made in his 20’s had a tremendous affect on his current finances, now that he is in his 40’s. Berger points out that there are many financial habits which are best formed earlier in life, as well as personal finance faux pas that are also better learned earlier as opposed to later. Berger’s article mentions one of the five decisions or acts he did successfully in his earlier years that gave his finances a boost later in life was to maintain a good credit score. Berger states that there was no way to get a free credit score online back in the 90’s, so he actually developed great credit unbeknownst to him through paying bills on time and avoiding debt. He states that it was his high score that helped him to obtain a great interest rate on his first home mortgage and a phenomenal refinance rate, as well as good interest rates on all of his and his wife’s automobile loans.
RoadFish.com emphasizes the importance of developing a good credit history at an early age. RoadFish.com’s Senior staff writer is quoted as saying, “I have been writing articles for weeks about the value in educating kids before they go off to college about the basics of finance, so that they’ve got something to guide them when they leave home. I believe that Berger is right on the money in reporting that good financial habits and wise decisions have the most positive impact on one’s bank account when they are instilled early in life. People go through a lot in their twenties—they graduate college, start a career, get married, maybe start a family. It’s a tumultuous decade, and smart financial moves are critical to the way they conduct themselves later in life.”
In the above-mentioned article, Berger points out the value of a college degree that will actually pay off the loan it took to earn it. He states that a four-year degree from a private college or university can cost close to (if not more than) $ 200,000, the loan for which can be a big burden for years or even decades to come. Berger himself received a law degree in 1992 and graduated with $ 55,000 in loans, which he was able to pay off during his rewarding career, but many post-grads are not so lucky. According to NPR, as of April 2012, student loan debt in the United States surpassed one trillion dollars, which is higher than the nation’s combined credit card debt. The total sum of the nation’s student loan debt first surpassed credit card debt in June 2010, and has only grown since then.
RoadFish.com wholeheartedly agrees that the cost of college degrees at present time should be cause for students to tread carefully when selecting a degree, and try to take out as few loans as possible. RoadFish.com’s Senior staff writer is quoted as saying, “I think my kids will go to community college for a couple of years, then if they really want, go off to a 4-year college and finish out so they can get the name on the degree. Plus there’s always state school. It’s just outrageous to me how much an education costs these days, and it’s horrifying to see that the amount of money spent on a degree definitely does not correlate with the wages that same degree is able to bring in. I think these days more than ever, students have to be selective in choosing their major, so that they can guarantee they’re able to pay back the amount they borrowed for school in a reasonable amount of time. Otherwise you just have debt hanging over somebody’s head for years and years, which is both mentally and financially draining.”
Among the other wise decisions made in his twenties were Berger’s conscious choice to avoid consumer debt, begin investing in a 401(k) early on, and purchasing used and modest vehicles.
About RoadFish.com
RoadFish.com lifestyle and finance magazine is a popular online men’s magazine that regularly includes articles pertaining to travel, lifestyle, and finance. RoadFish.com readers tend to be men in their 30’s and 40’s that have already accomplished worthy professional or personal goals, and are looking to the next big thing. RoadFish.com men’s lifestyle and finance magazine features stories on men’s luxury items, vacation ideas, hot chicks, and financial advice on investments. It also commonly hands out dating advice as well as reviews on hot items for readers, such as luxury watch brands. RoadFish.com is owned and operated by Purpose Inc.
©Copyright 1997-
, Vocus PRW Holdings, LLC.
Vocus, PRWeb, and Publicity Wire are trademarks or registered trademarks of Vocus, Inc. or Vocus PRW Holdings, LLC.
Posted in Debt | 
Tags: Choices, Early, Financial, Impact, Later, Made, Tremendous, Years | 
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