Do Divorce Decrees Matter?

I hear all the time from mortgage lenders that an item should not be on a report because it is not the borrower’s legal responsibility through a divorce.  However, the truth is that creditors don’t care about that piece of paper!  So, let’s explain the process so you know how and what needs to be…

Collections and Charge Offs

Whenever someone goes 180 days late on any open account, it moves to a status called “charge off”.  This means they are now closing the account and the debt is being transitioned into a collection status.  It does not always mean there will be a separate collection account created, as some creditors choose to keep…

Do You Truly Understand Equity?

One of the things that was profound to me while speaking with my clients, was how little the average person understands how equity gains in a home, work.  I want to share with you a simple way to understand how important a home can be to building your family’s wealth. Let’s say you make $50,000…