Utah Home Mortgage Specialist

Being credit savvy pays off. High credit scores can mean lower payments and thousands of dollars in savings. Approximately 65% of your FICO score is based on two factors: payment history & utilization. And the higher your balances are in relation to credit limits, the lower the score – even if you pay your card off every month. Here are simple steps to maintain a high FICO score:

• Make all payments on time;
• Avoid negative occurrences (such as collections);
• Keep credit card balances low (under 25%) in proportion to credit limits;
• Do not close old credit card accounts;
• Shop for credit only when necessary.

The best way to improve and maintain your credit score is to keep spending under control, pay bills on time, and avoid applying for extra credit too often. Also, be certain to periodically check your credit report for accuracy. Go to AnnualCreditReport.com, the only government-authorized source for consumers to access a free copy of their annual credit report online.

This week Collette shows you how to step up your hamburgers and impress your friends and family this summer season.  Got your own special recipe?  Let us know.

Download our favorite hamburger recipe now.

Email your best hamburger recipe to collette.mckee@comcast.net

Exciting News for Veterans!

The First Time Home Buyer and Long-time Resident Tax Credits have been extended for Military Personnel and certain Federal Employees.   Here are the basics:

• You must have been on active duty outside of the US for 90 days during the period beginning after Dec. 31, 2008, and ending before May 1, 2010.
• The home needs to be under contract by April 30, 2011
• You need to be closed by June 30, 2011
• You must been either a First-Time Home Buyer or Long-Time Resident 

Those are the basics of this new law.  If you have any other questions feel free to go to the IRS website and see the all the rules and restrictions.

I’ll see you at closing!

In this week’s Weekly Tip, I have had a little fun. Have you ever wondered what causes Brain Freeze when you eat or drink something that’s too cold? Click on the link to see what I found out, this will amaze you!!!

Sources and Publications

As always with taxes, nothing is ever simple or easy. Speak with a qualified tax professional for specific advice — an enrolled agent, a CPA or an attorney who specializes in tax issues.

Also, the IRS itself has excellent information at its website, www.irs.gov, by phone at 1-800-829-1040 and with specialized publications such as those below:
Publication 523, Selling Your Home

Publication 527, Residential Rental Property

Publication 530, Tax Information for First-Time Homeowners

Publication 535, Business Expenses

Publication 587, Business Use of Your Home

Publication 936, Home Mortgage Interest Deduction

Publication 946, How To Depreciate Property