History of Father's Day

Father's Day is celebrated all over the world to honor and celebrate fatherhood and their influence in society, but do you know how the holiday began?

It was Mother's Day 1909 in Spokane,WA, Mrs. Sonora Smart Dodd was listening to a sermon honoring mothers. Having lost her mother young, she and her siblings were raised by their father, Henry Jackson Smart,  she wanted to honor him for the same sacrifices, nurturing, guidance he gave them growing up.
Sonora's original thought was to have the celebration on her dad's birthday June 5th, but that gave the town no time to prepare. So it was on June 19th , the third Sunday in June,  Sonora honored her father and all fathers for the men, teachers, and protectors that they were. Thus creating the first Father's Day.
It took a bit of time to get the word spread about this new holiday even with the help of politician William Jennings Bryan it wasn't until 1916 that President Woodrow Wilson initiated it after attending a Father's Day party with friends. In 1924, nearly a eight years later, President Calvin Coolidge declared it a holiday , but it wasn't until 1966 that President Lyndon B. Johnson made it official. Father's day would be celebrated the 3rd Sunday of June as it was with the first. Americans at first rejected the idea for decades  thinking it was just merchants trying to make profits as they did for Mother's Day, newspapers often make jokes in reference to the holiday. Finally, in 1972 the holiday was acknowledged by the Congressional Act  permanently setting President Johnson's order.


What makes a Dad
God took the strength of a mountain,
The majesty of a tree,
The warmth of a summer sun,
The calm of a quiet sea,
The generous soul of nature,
The comforting arm of night,
The wisdom of the ages,
The power of the eagle's flight,
The joy of a morning in spring,
The faith of a mustard seed,
The patience of eternity,
The depth of a family need,
Then God combined these qualities,
When there was nothing more to add,
He knew His masterpiece was complete,
And so, He called it ... Dad
~unknown author

This Father's Day take a moment to thank you dad for all that he has done to make you,

 YOU!!

You & your Credit Score

Your credit score is calculated from your credit report.                                                                

However, lenders look at many things when making a credit decision including your... 

Income. 

How long you have worked at your present job. 

The kind of credit you are requesting.

Credit scores follow you anywhere you go in the financial world.

If you recently reviewed your credit report and the score is lower then you expected, here are some of the possible reasons why:

• Paying bills late
• Skipping payments
• Having an account charged off or closing it.
• When an account is sent to collections
• Defaulting on a loan
• Filing bankruptcy
• Your home is foreclosed on
• High credit card balances
• Maxed out credit card balances

Here's how to make sure yours is the best it can be...

• Find and dispute mistakes on your credit report
• Pay down credit card balances
• Raise your credit limit
• Don’t close accounts
• Don’t apply for credit before a big purchase
• Pay on time
• Ask for a good will adjustment
• Try to remove black marks
• Use an old credit card
• Apply for different types of credit
• Shop for credit fast
• Open a secured card
• Don’t consolidate your credit
• Rehab your student loans
• Make sure every company reports
• Find out when your balance is reported
• Don’t co-sign
• Start early and wait...

If you are planning to purchase a home in the near future, don't hesitate to contact my office for a more in depth look into your credit standing. Your referrals are always appreciated!! 

Buying a new home? Refinancing? Now is the Time!

Are you thinking about refinancing your home? Contemplating buying a home? 

If you answered yes either of those questions there are a few tips that will help you in the process...

1. Procrastination NOT allowed
If you haven't recently refinanced your mortgage there is a big chance that you are paying a higher interest rate then you should. Now is the time to take advantage of the current record low mortgage rates. The rates will gradually grow as the year progresses. Don't miss the opportunity to utilize the lowest mortgage rates in history.

2. Hurry Buyers Hurry!
Rates are low. Homes prices are on the rise. Now is the time! If you qualify for a mortgage, TAKE ADVANTAGE! Get pre-approved, don't miss out on the home of your dreams.

3. FHA vs. Conventional
The FHA's 3.5% down is very enticing for a buyer, but don't forget about the fees that are added to your loan (increase expected this summer). A Conventional loan is 5% down given your credit history. If you are able to afford the higher down payment, get quotes from both and compare to see what works best for you.

4. Good Credit, Good idea
2013 will bring new rules and guidelines, but the standards will not change. IF a new mortgage is a goal, then you must consider your credit to be the most valuable asset in obtaining that mortgage. A credit score of 720, no problem; at 680 you will still be able to get a good deal, but the approval process may be a bit more difficult. Tip: check your credit, if you are using more then 30% of your available credit you may be hurting your score. 

5. Pay off early? 
Every though about refinancing from a 30 year to a 15-20 year mortgage? Can you afford a slightly higher monthly payment? 
6. Underwater?
Like many Americans you may owe more than your home is worth, but have had no luck with refinancing in the past? There is a program that may be able to help. The Home Affordable Refinance Program (HARP) was altered to help the homeowners to refinance no matter how underwater they were on their mortgage. There were recent revisions to the program that will help borrowers overcome obstacles they have run into in the past. Don't let a lenders' No, be the end.                                                                                     

7. Communicate, your Lender knows
There are new programs available for those who grapple to keep up to date with their mortgage payments. Lender are willing to work through delinquent loans and assist the homeowner in the best way possible. They can help modify the loan  or even short sale the home if the homeowner cannot afford to stay in it. The only way to find a solution is to communicate through what will be a maddening process. 

8. Compare & Shop
Comparison shopping is for more then groceries and car insurance, but what lender can help you get the best mortgage possible. To make a fair comparison get 3 quotes from different lenders, quotes including closing costs. Start with referrals from friends and relatives, even someone you worked with on a previous home. Read online reviews from others borrowers they have worked with in the past, favor a good reputation. 

9.  You're APPROVED, don't mess it up now!
It is not uncommon that a lender order a second credit report just prior to the closing dates. Knowing this you don't want to open a new bank account or make any changes to existing accounts or credit cards. These actions are a capable of hurting your score and causing a last minute denial of your mortgage loan. 

10. It's only just begun

Your application is in, rate is locked, and yet the fun has just begun. It is important to submit any and all requests from your loan officer in a timely manner to avoid any delay ion closing or worse,risk losing your locked rate. Follow up with your lender at least once a week to ensure there are no snags in the process.