News You Can Use

Nine years in mortgage lending has allowed me to serve many wonderful and smart people.  In the last couple years a trend started emerging with my married clients.  Increasingly my primary contact for families has been the wife/mother.  I call these clients my ‘CFO moms’ because they are money savvy and apply business principles when managing their finances.  

Today I was on WCNC’s Charlotte Today talking about the Financial Facts Smart Moms Know:    

• Have a trusted board of directors.  Financial solutions are not one size fits all so it’s prudent to have expert advice on areas such as investments, taxes, banking and insurance.  Use their knowledge to maximize your efforts and make wise choices.
• Keep your credit in good standing.  A solid credit score will not only benefit you when applying for a loan but when engaging other providers such as insurance and utility companies.  They use it to evaluate your repayment behavior which may affect the cost of doing business with them.   Check your credit annually at AnnualCreditReport.com and resolve any issues as soon as possible to limit their impact.
• Have cash reserves.  Most families don’t plan for a major repair or other significant expense but they still happen.  By having three to six months’ reserves set aside, the effects of unexpected expenses can be minimized.
• Leverage what you already have.   Use a Flexible Spending Account to help get more bang for your buck on childcare or healthcare expenses. Call your mortgage company to compare your balance to your home’s value. If you have at least 20 percent equity, you may be able to remove the monthly mortgage insurance to increase your monthly savings.
• Money saved is money earned.  Use online tools like Mint.com to evaluate your budget and spending habits.  Finding hidden savings can allow you to spend your money more efficiently - towards long term goals or bulking up cash reserves.  Find ways to save as you spend too.  By being a deal hound or playing the coupon game, the savings can really add up!

My passion is for all my clients to make smart choices and feel empowered when doing so.  

Featured Loan Program

Good Neighbor Next Door

This specialized FHA program allows teachers and first responders to purchase a home with a substantial incentive in the form of a discount of 50% off the list price of the home.

• Eligible borrowers are law enforcement officers, pre-K through 12th grade teachers and firefighters/EMTs
• Borrower must commit to live in the home for 36 months
• Eligible Single Family homes are located in designated revitalization areas

Have You Heard?

Have you heard that RelocateAmerica.com included Charlotte in its list of the best places to live in the U.S.?  I’m biased but I can understand why they picked the Queen City as a winner.  The editors based their results on interviews with local leaders and residents’ surveys.  Also weighing in were economic, environmental, education, crime, employment and housing data.

Enjoy this info? Would you like to receive Monday Money Matters in your inbox? Subscribe here!