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Taylor Associates

 

 

 

  

Taylor Associates - Your
Real Estate Star!


Whether it is a startup, a lifestyle change or a light at the end of a long housing tunnel, Jacquie's depth of understanding and years of experience as a local housing expert will shoot for the STARS!

 

      

 

Focal Points

Which is better, buying or renting?

Owning a home has many benefits. When you make a mortgage payment, you are building equity - and that's an investment. Owning a home also qualifies you for tax benefits that may assist you in dealing with your new financial responsibilities - such as homeowners' insurance, real estate taxes, and upkeep - which can be substantial. But given the freedom, stability, and security of owning your own home, they are definitely worth it! Owning your own home also can be a great source of pride and stability.

But homeownership may not be for everyone. It's a big financial commitment - starting with the initial shock of your purchase (including a "down payment" and fees paid to a real estate agent, the lender and others) followed by years of monthly mortgage payments, real estate taxes, property insurance and maintenance costs. When you decide to purchase a home, you accept responsibility for paying for these expenses. They are additional costs to your monthly mortgage payment and should be included in your budget estimates: Property Taxes and Special Assessments, Home/Hazard Insurance, Utilities, Maintenance, Home Owner Association (HOA) fee if applicable.

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Your Credit Report

A credit report contains information on where you work and live, how you pay your bills and whether you've been sued, arrested or filed for bankruptcy. Consumer Reporting Agencies (CRA) gather this information and sell it to creditors, employers, insurers and others. The three major national credit bureaus are Equifax, Experian and TransUnion.

As of September 1, 2005, all consumers are eligible to receive a free annual credit report from each of the three major CRAs. The information in your credit report is used to calculate your credit score -- a number generally between 300 and 850 that rates how risky a borrower you are. The higher your score, the less risk you pose to creditors.

Anyone who denies you credit, housing, insurance or a job as a result of a credit report must give you the name, address and telephone number of the CRA that provided the report. Under the Fair Credit Reporting Act (FRCA), you have the right to request a free report within 60 days if a company denies you credit based on the report.

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