Share Credit with a Stranger

The Minneapolis Star Tribune recently ran an article on home buyers who try to improve their credit rating by adding those with shaky credit histories to credit cards belonging to people with good credit ratings.

Apparently there are businesses out there that specialize in providing this service. They claim that they can raise your credit score by 50-250 points. Legally you can add people to your credit cards; typically you might see this in a family situation where you might give a son or daughter a credit card to use in emergency situations. There are no laws prohibiting this – or by extension prohibiting a person with good credit from sharing with anyone.

People with low credit ratings are paying up to $1500 for this quick credit boost; the people with good credit are making a few hundred dollars and the rest goes to the intermediary company.

The Federal Trade Commission is aware of this practice and apparently looking into it but at this point it is legal. The big issue here is potential for mortgage fraud or at the very least people getting into mortgages tat they really can’t afford.

Info on Foreclosures

It seems as if Real Estate news is so big you can find it anywhere these days. Recently a blog about access to Government information outlined the steps required to provide information on Government foreclosures.

If you are interested in more information on foreclosures, contact an exclusive home buyer agent. We can tell you how to avoid a foreclosure (as a buyer or seller) and what a foreclosure might mean to you in a house or neighborhood that interests you.

Meet The Neighbors! A Buyer's Guide to Questions You May Want to Ask Before Moving In.

As part of a thorough, complete home inspection it is important to find out as much as possible about the property you are purchasing.

Home inspectors look for physical signs of problems in and around the property, but there are many other factors that may affect the value and a Buyer’s peaceful enjoyment of the property. Unfortunately, some of these factors are not readily apparent when touring a property with your agent, or evident when the physical home inspection occurs.

Buyers Real Estate Group has compiled a list of questions Buyers may want to ask neighbors of a property they are considering purchasing.

Current residents are an excellent source of information regarding a neighborhood's characteristics and potential problems. An added bonus is that by showing an active interest in the neighborhood you can make a great first impression with your new neighbors! We recommend knocking on neighbors' doors during the inspection contingency period. We also encourage Buyers to tailor these questions to their specific needs, and highly recommend contacting local law enforcement and neighborhood groups to gather further information regarding the property.

1. How long have you lived at your present address?
2. Are you aware of why the owner of the property is selling?
3. Are there problems with barking dogs in the neighborhood?
4. Are there any problems with loud music, or parties?
5. Are there many children in the neighborhood?
6. Are there any unpleasant odors?
7. Do you have any difficulty getting along with neighbors?
8. Are there past or present problems with pollution, or contamination? (For neighborhood pollution data by zip code, visit http://www.realestatehomepages.com/editor/www.scorecard.org)
9. Is there noise from airplanes, roadways, trains or nearby factories?
10. Has the subject property had any problems that you are aware of, such as flooding, water damage, fire damage, pest infestation, mold, leaky roof, radon, or carbon monoxide?
11. Has the property had a past of violent crime or suicide?
12. Are you aware of any major repairs or remodeling of the property?
13. Has there been any vandalism or nuisance crimes in the neighborhood?
14. Has there been violent crimes such as assault, shootings, or stabbings?
15. Has an active neighborhood watch group been formed?
16. How do you rate such public services as street plowing/sweeping, mail delivery, trash/recycling pickup?
17. Any rumors of paranormal activities (ghosts) in the subject property?
18. Are you aware of any sex crime offender living in the neighborhood? (predatory offender lists can be obtained from local law enforcement, http://www.realestatehomepages.com/editor/www.corr.state.mn.us. or Department of Corrections at (651) 642-0200) 19. Are there rumors or plans regarding street improvements or future tax assessments?
20. Are there plans to develop or change existing property in the area (such as demolition of buildings, development of wild lands?) 21. Have neighborhood sanitation pipes needed clearing or replacement because of tree root penetration, slow sewer lines, or back-ups?
22. Is there anything that you think a family considering buying the property should know before making the decision to buy it?

Submitted by Holly LaRochelle