Avoid Phony "Free Credit Report" Ads

Starting April 1, 2010, websites advertising "free" credit reports will be required to disclose prominently that consumers have a right to get a no-strings-attached free credit report at AnnualCreditReport.com or by calling 877-322-8228. The websites will be required to include the disclosure at the top of every page that mentions free credit reports.

Consumers have the right to request a free credit report every 12 months from each of the three credit-reporting agencies.

You can order all three credit reports at once or order a different one every four months. Ordering reports throughout the year lets you do your own credit monitoring -- it helps you to identify suspicious activity, such as new accounts you never opened, that could indicate identity theft.

If you're planning to apply for a mortgage or car loan, you should order all three credit reports at once. That way, you can check all your reports for errors that could prevent you from getting a loan.

Not all lenders report to all three bureaus, so it's important to check all three reports. If you find an error that could hurt your score, you should immediately file a dispute with the credit bureau.

For more information about free credit reports, to go to www.ftc.gov/freereports.

Property Tax Appeals

Usually, when the assessed value of our home was less than it was really worth, we didn't say anything because we didn’t want our taxes to go up. However, with the recent decline in values, many homeowners and buyers are taking note of the incredibly high taxes relative to the value (or cost) of the house. This happened because many houses were assessed as long as two years ago -- when values were higher. More...

Eco-Remodeling

Whether you are making an addition to your home or remodeling your bathroom, eco-friendly choices can help you conserve resources and reduce your environmental 'footprint.' As the demand for green building materials grows, major manufacturers are expanding their lines of affordable sustainable options, so the green choice may also be the less expensive one. Here are some guidelines to consider during your next project. More...

Short Sales

A Short Sale occurs when the homeowner owes more on their mortgage than the property is worth in the current market.

This can occur when the homeowner originally took out an Interest-Only loan with negative amortization and pay-off penalty fees. As a consequence, the homeowner now owes more than the home is worth and would have to pay the difference in order to sell the property. More...

Foreclosures

Bank-owned properties or "foreclosures" are also known as Real Estate Owned properties, or REOs. REOs are properties that have been taken from the homeowner in a foreclosure action. This situation certainly creates an opportunity for buyers, but -- as is the case in every major transaction -- there are some things you need to know if you are considering a bank-owned property. More...