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About Gary and Deborah ...
About Gary Cordell, and Deborah Rose-Ellis:
About Gary Cordell, and Deborah Rose-Ellis - Information about Gary Cordell, and Deborah Rose-Ellis of Payson, Pine and Strawberry, Arizona
Testimonials - Read what Gary Cordell & Deborah Rose-Ellis' clients are saying about the real estate marketing and services provided.
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Financing Your Home >Credit Card Mania
Most people know that a checkered credit history can disqualify you for a home loan, and maxed-out credit cards can do the same thing. But what most people don't know is that merely having a large number of credit cards, even with low balances and a history of timely payments, can disqualify you for a home mortgage loan just as quickly.
According to credit experts, having a number of credit cards can be just as detrimental to the granting of further credit as a history of late payments. Lenders look at it this way: If you have ten credit cards, each with a limit of $5,000, that means you have the potential to run up $50,000 in debt virtually any time you choose. That mere possibility makes you a greater risk, from their point of view.
The moral of the story? If you are planning to apply for a home loan in the future, keep only those credit cards you actually need to use and cancel the others.
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What is the world's most valuable piece of furniture?
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The 18th century Italian Badmiton Cabinet owned by the Duke of Beaufort sold in 1990 at Christie's, London for $15.1 million dollars. |
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