Hope Leitner, Realtor®, CRS

  Chances are you’re hearing a lot about mortgage rates right now, and all you really want to hear is that they’re coming back down. And if you’ve seen headlines about the early November Federal Funds Rate cut by the  Federal Reserve  (The Fed), maybe you got hopeful mortgage rates would start to decline right away. Although some media sources may lead you to believe that the Fed’s actions determine mortgage rates, in reality, they don’t.  The truth is, the Fed, the job market, inflation, geopolitical changes, and a whole list of other economic factors influence  mortgage rates , too. So, while recent actions from the Fed set the stage for mortgage rates to come down over time — it's going to be a gradual and, likely bumpy, process. Here’s the best advice anyone can give you right now. While you may be tempted to wait for rates to fall, it’s really hard to try and  time the market  — there’s just too much that can have an impact. Instead, set yourself ...

Credit scores are used to assess risk and determine whether a borrower is approved or declined for a mortgage, credit card or some other type of credit.   The score is a numerical value ranging from a low of zero to a high of 850 or 900 depending on the credit bureau. The higher the score, the more likely the lender will be repaid in a timely manner. A higher credit score could help you get a lower interest rate You can get a free credit report from all three major bureaus at www.AnnualCreditReport.com . Your credit score doesn't have to be perfect to get a loan ... most lenders want buyers to have a minimum of 620 but FHA will consider as low as 500 Credit utilization, the percentage of credit used compared to what is available, should be kept below 30%; amounts higher could negatively affect your credit score. There is a difference between a soft and a hard credit pull.   The former doesn't hurt your score, but the latter can lower it a few points.   Try t...

Should you try to time the market? Think twice! Plus, don't trust those credit agencies. Take control of your credit score. This newsletter is here to help us learn. I hope you find it helpful and informative.    I love hearing from everyone on this email list. I am here to support you whatever your real estate needs might be.     December - Ponder this - “ Winter is a season of recovery and preparation. ”- Paul Theroux  - Paul Theroux is best known as a slow travel writer, inspiring us to move through the world via train rather than by plane, or to stay for a while, rather than running to the next destination. We go on adventures to live. Sometimes it’s amazing and sometimes it spirals into a mess. Yet we go on. -- Winter is when we can recover and prepare for the next test of our spirit. Make some tea and recover before planning for the new year. Please, sit and rest a while.    As always, I am here for you, your family, and friends.   Hope...

  Information is brought to you by Hope Leitner Berkshire Hathaway HomeServices California Properties The Benefits of a Hardship Plan If you’re buried in credit card debt, there’s a reasonable solution that your credit card company may allow you to use, but only if you ask about it. A hardship plan, also known as a credit card payment plan, can help dig you out of debt and ultimately improve your credit score. A hardship plan can also save you money in interest payments and reduce your monthly credit card bill. Don’t be scared if you think a hardship plan is the same thing as the debt management plans you see on TV commercials. Those require you to pay a fee to a credit counseling agency to negotiate debt repayment terms with each of your lenders. All of the debts are paid through a single monthly payment that the counseling agency collects from you. The credit counselor is the liaison between you and your debt collectors. A hardship plan, however, doesn’t have an intermediary or m...