Price: 548998 | Address: 2307 Wilmington Court | Beds: 4 | Baths: 2/1 | Sqft: 0 | LotSize: 0.44

Price: 548998 | Address: 2307 Wilmington Court | Beds: 4 | Baths: 2/1 | Sqft: 0 | LotSize: 0.44: "img src='http://images.prudentialproperties.com/listings/0070/007/007791/thumb/007791437.jpg'/Price: 548998 Bedrooms: 4 Bathrooms: 2Garage: 3 Square Ft: 0 Lot Size: 0.44Acre Price Per sq/ft for this property: -1Average Price Per sq/ft for this area: -1Median Home Price for Naperville, IL 60565: -1Year Built: 1994"

Price: 239000 | Address: 380 Meadow Lakes Boulevard | Beds: 3 | Baths: 2/1 | Sqft: 0 | LotSize: 1.07

Price: 239000 | Address: 380 Meadow Lakes Boulevard | Beds: 3 | Baths: 2/1 | Sqft: 0 | LotSize: 1.07: "img src='http://images.prudentialproperties.com/listings/0070/007/007773/thumb/007773053.jpg'/Price: 239000 Bedrooms: 3 Bathrooms: 2Garage: 2 Square Ft: 0 Lot Size: 1.07Acre Price Per sq/ft for this property: -1Average Price Per sq/ft for this area: -1Median Home Price for Aurora, IL 60504: -1Year Built: 1989"

Important Information For Home Buyers!!!

Fannie Mae has implemented a new policy that is very important. Since most lenders use FNMA’s guidelines this is an important change to be aware of.

As of June 1, lenders are responsible for certifying the borrower's monthly obligations have not increased from the time of the initial credit report through the closing date. This is effective for new conventional applications only and is not applicable for VA, FHA or Rural Development loans at this time. However, they could follow suit.

For Fannie Mae, the goal is to reduce the number of loans that default because of new, non-disclosed debt. Lenders have the freedom to verify in whatever manner they wish, but in most cases, the verification process will amount to a credit re-pull made just prior to closing. A credit report will be pulled at the beginning of the application and will also be pulled 5 days prior to closing.

What does this mean for the conventional borrower? It means that you absolutely should not take out any additional credit or even have an inquiry into your credit report from the time you start the loan application until after you close.

Tips to Avoid Last Minute Issues

DON’T:
• Take out any new credit during your loan application – wait until your loan has closed
• This means no furniture shopping, new window treatments and especially no “Buy now –Pay later” type of financing
• Use your line-of-credit to purchase anything
• Make any large purchases using your credit cards
• Co-sign on a loan for anyone else
• Pay for the mover upfront – ask to be billed later
• Go car shopping even if not ready to buy yet – the dealer may pull your credit that will result in an additional inquiry
• Add to your current debt load as of application time until after closing
• Pay late on any obligation

DO:
• Create paper trails for all deposits into your asset accounts
• Be prepared to write letters of explanations for anything out of the ordinary, e.g.: -For inquiries into your credit report – for any reason – over the last 90 days -For any derogatory credit issues -For any employment gaps
• Speak with your loan officer if you have any questions regarding any of this information

Price: 249000 | Address: 380 Meadow Lakes Boulevard | Beds: 3 | Baths: 2/1 | Sqft: 1800

Price: 249000 | Address: 380 Meadow Lakes Boulevard | Beds: 3 | Baths: 2/1 | Sqft: 1800: "img src='http://images.prudentialproperties.com/listings/0070/007/007746/thumb/007746252.jpg'/Price: 249000 Bedrooms: 3 Bathrooms: 2Garage: 2 Square Ft: 1800 Lot Size: Acre Price Per sq/ft for this property: 138Average Price Per sq/ft for this area: -1Median Home Price for Aurora, IL 60504: -1Year Built: 1989"

6 Strategies to Help Avoid Credit Card Fees

RISMEDIA, December 20, 2010—The credit card fee changes of a few several months ago are designed, like previous changes, to protect consumers by adding clarity and transparency to interactions between card issuers and holders.

However, as these new rules take away revenue opportunities for card companies, issuers are raising other fees or creating new ones to compensate. Money resource Bills.com cautions consumers to be aware of the new rules and also learn how to avoid new fees.

In order to avoid these fees, personal money resource Bills.com shares the following strategies consumers can employ to better avoid additional charges that have arisen because of changes outlined in the Credit CARD Act.

1. Monitor your communications from your credit card issuer. One of the best ways to stay abreast of changes specific to your cards or situation is to closely monitor information sent from your issuer. New regulations require much greater disclosure on all changes, so any update will be sent to your attention. Be alert for all mailings and read them carefully before throwing away or destroying.

2. Maintain prompt payment status with your credit card company.Despite all these changes, the simplest way to avoid fees is to pay your credit card bills on time. By missing or being late on a payment you will incur fees, potentially increase your interest rate and lower your overall credit score.

3. Pay down high balances to improve credit card utilization. This will show that you can responsibly manage your credit limit, minimizing the chance of higher tiers of interest rates or reductions in credit limit. Additionally, better credit utilization will help boost your credit score.

4. Maintain activity on your credit card accounts. By using the revolving credit lines that you need or want to keep and promptly paying on them, you can help avoid cancellation of those credit card accounts. This will also help avoid faux inactivity fees and help boost your credit score, while having a long existing credit line closed could lower your score.

5. Avoid over-limit fees through responsible spending habits. Credit card issuers have begun to charge fees for opt-in over-limit coverage. By remaining aware of credit limits and balances, consumers can avoid a need for this service and these fees altogether.

6. New regulations do not apply to corporate or small business cards. This means some small business owners might consider using personal cards for business expenses because of fee and rate limitations. However, these owners should remain cautious because their personal credit scores could suffer in the event of missed payments or defaults. Conversely, be aware of companies that are increasing solicitations for corporate card members to avoid new regulations.

For more information, visit www.bills.com.

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