TexasLending.com: Tips on Improving Your Credit Score



TexasLending.com emphasizes to clients that a person’s credit score is not a reflection on them personally. In light of the country’s recent economic woes, the team at TexasLending.com has seen an increase in low credit scores. This has led many individuals to ask how they can work to improve their credit scores. While the return to a good credit rating takes work, as TexasLending.com tells clients, it’s definitely doable by following a few simple steps.

Upon visiting a mortgage lender, explains TexasLending.com, one of the first things the loan officer will normally do is pull a credit report. This gives the loan office an idea for whether or not the interested homebuyer will qualify for a mortgage loan. Often when that credit report returns a negative response, many loan officers can only offer a few cursory tips, but TexasLending.com loan officers will try to help the client more comprehensively. If a client wishes, TexasLending.com can run a computer simulation model, which will not only determine what action can be taken to improve the client’s credit score, but also determine how much of a difference that action will make in the client’s qualification for a better interest rate.

One of the biggest challenges for TexasLending.com clients in cleaning up credit is paying bills on time without fail. TexasLending.com has a few suggestions for those individuals, including setting up payment reminders or having payments automatically deducted from a bank account. If organization is the challenge, these steps can make a big difference in cleaning up credit.

If a consumer has more money going out than coming in each month, TexasLending.com recommends setting a budget that cuts out as many extras as possible. As tough as it may be, consumers might also consider getting a second job or working overtime. Once a consumer is ready to begin reducing his or her debt, TexasLending.com recommends tackling the debt in the order of the highest interest rate, one bill at a time.

In the past, consumers were told to cancel as many credit cards as possible prior to seeking a home loan. That has changed in recent years, TexasLending.com states, as consumers who manage multiple credit cards responsibly are seen as less of a credit risk than someone who has no credit cards at all.

TexasLending.com also recommends that clients keep a small balance on each credit card. When a customer completely pays a card off, TexasLending.com has found that cards which are completely paid off can negatively impact a score. However, credit bureaus also appreciate a large gap between the total credit line and the balance, so low balances are best, adds TexasLending.com.

Because each credit bureau scores differently, TexasLending.com advises working with a loan officer to better understand what you can do to improve your score. The loan officers at TexasLending.com will look at your credit score to help you determine the best way to maximize your chances of getting your dream home.

For more information, visit Texas Lending online at www.texaslending.com.

4100 Alpha Rd.
Dallas, TX  75244
NMLS# 137773


Douglas Andrew Discusses the TAMRA Law

Douglas Andrew

Douglas Andrew

Douglas Andrew has established a successful series of Missed Fortune workshops and books. The Missed Fortune principles are founded upon maximum funded tax-advantaged life insurance, but Douglas Andrew stresses these must be structured correctly. Much of this structure comes from obeying tax laws, Douglas Andrew says—primarily three major tax laws enacted in the 1980s regarding the insurance industry.

Douglas Andrew regularly fields questions about these laws. Today, he addresses questions about TAMRA—the Technical and Miscellaneous Revenue Act of 1988.

Q: Why was the TAMRA Law passed?

Douglas Andrew: In the 1980s, people were putting large sums of money into life insurance policies because they knew life insurance companies were stable. Feeling the competition, banks and institutions lobbied Congress and the result was the TAMRA Law of 1988.

Q: What is the TAMRA Law?

Douglas Andrew: In essence, with the TAMRA Law, an individual cannot put his or her money in an insurance policy all at once and maintain a tax-free environment.

Q: So someone has to slowly put money in?

Douglas Andrew: It must be deposited gradually over several years in order to comply with TAMRA.

Q: Do we have to comply with TAMRA?

Douglas Andrew: Yes, if we want our money to be tax-free when it’s taken out, it’s important to comply with all of the stipulations of TAMRA.

Q: What if someone has a policy that dates prior to TAMRA?

Douglas Andrew: If someone has a policy that was taken out prior to TEFRA, DEFRA, and TAMRA, then they don’t apply. These policies were grandfathered in because they were established prior to these laws.

Q: Why should I choose a maximum insurance tax-advantaged life insurance policy over stocks and bonds?

Douglas Andrew: Insurance companies have been around since the 1800s, weathering all the ups and downs in the market. In the economic turmoil of recent years, not a single life insurance company has gone out of business.

Q: How many banks have gone out of business?

Douglas Andrew: At last estimate, more than three hundred with the recent recession.

Q: What about fees?

Douglas Andrew: The goal is to incur the least amount of fees possible, but as I tell our Missed Fortune clients, I’d rather be paying fees to an insurance company than fork over large sums of my earnings to pay taxes.

Q: How much can a person expect to pay in fees for maximum funded life insurance?

Douglas Andrew: Using the methods outlined in Missed Fortune, someone netting eight percent would pay about one percent in fees over the life of the policy. That’s seven percent with no taxes required.

For  more information on Missed Fortune and Douglas Andrew’s advice on choosing maximum funded tax-advantaged life insurance contracts, visit http://www.missedfortune.com. Douglas Andrew has had two national bestsellers and his Missed Fortune seminars are in demand throughout the country.

University of Georgia

Kyle Thomas Glasser

Kyle Thomas Glasser

A senior student at the University of Georgia, Kyle Thomas Glasser, is a one of those students, who at a very young age has set an example to fellow students, the youth in general, and even people beyond his age.  Determined to make this world a better place, his efforts in reaching to out to people who are in need through resources that are readily available to him are what triggers and inspires him to help beyond what is required or expected of him.

As a high school student, he has graduated with honors and has set an example of leadership, discipline, and that inherent affection to help people who are in need. That is why it was no wonder that he decided to pursue a medical related course in college. University of Georgia presented this environment for him — perfect for academic learning while still in touch with society in general.

Already in his senior year in college, Kyle Thomas Glasser, plans on furthering his learning by pursuing a more focused medical discipline and specializing in one field or many. His idea of being part of the medical profession is simple yet genuine, to help people.

He has been doing this for quite some time, volunteering to work for his community while he was still in high school, being part of school activities to organize academic and extra-curricular activities to help strengthen the skills and talents of his group members, peers, and even his. He is also quite active in sports and has played football and baseball to represent his school.

The interesting aspect about this student from University of Georgia is his genuine concern to improve on the lives of others. It was only recently that he embarked on a mission, a trip to Central America, to aid those who might be in need of medical attention.

He is in fact a perfect example of an individual whose pursuits are not centered on his own needs, he reaches out to help others, his endeavors are focused towards efforts to achieve and make his dream a reality — a dream that is not inspired for his own gain but for the betterment of people around him and those that he can reach out to. His talents, he uses to help enrich the lives of others while his educational learning he applies to help and teach others.

Missed Fortune Discusses the Impact of Tax on Liquidity

Missed Fortune

Missed Fortune

The Missed Fortune series of workshops and educational materials on asset management focuses on the benefits of liquidity in financial management. Over 38 years in financial management, Missed Fortune ’s Doug Andrew has seen the profound impact taxes can have on an individual’s earning potential. For this reason, he has structured the Missed Fortune series to center on the importance of tax-free strategies.

According to Andrew, many individuals focus on taxed as withdrawn accounts, figuring by the time the tax is owed they will fall into a lower tax bracket. As Missed Fortune’s materials explain, most states have a state income tax. The average married couple filing a joint tax return in 2012 with a combined income of more than $70,700 paid not only 25% in federal tax, Missed Fortune’s Andrew says, but also in 41 states, as much as 10% in state tax.

In states with both state and federal income taxes, Missed Fortune points out that a taxpayer can pay 33% to 45% in taxes alone. This significantly decreases an individual’s earnings, Andrew says. The difference between the super-wealthy of the world and most other people is that those individuals understand compound interest in a tax-favored environment, says the Missed Fortune founder. They understand safe, positive leverage, which is the ability to own and control assets with very little of one’s own money at risk.

While Missed Fortune ’s Doug Andrew is seriously interested in accumulating cash in a tax-free environment that will earn a predictable rate of return of eight percent, he wants to do it under a tax-free umbrella. As Andrew explains in the Missed Fortune workshops, he not only accumulates his money completely tax free, but he also ensures when he someday withdraws that money, it will be tax-free as well.

Some individuals choose to try do this by postponing the taxes through a IRA or 401k, but the Missed Fortune founder points out that if he has a million-dollar nest egg, he’ll be paying as much as forty percent in taxes on it–which means he’ll only net $666,000. Taking this line of reasoning further, it means that money he had in that IRA or 401k not only isn’t completely his own money, but it never was in the first place. One-third of that money always belonged to Uncle Sam, Missed Fortune explains. And while Uncle Sam let you use that one-third on the front end, he always intended to charge you one-third on the back end.

Many retirees are now learning there is a problem with paying on the back end, the Missed Fortune founder points out. Those who paid into their retirement account years ago, with the plan to pay taxes at the end, are now finding that they aren’t in a lower tax bracket. Actually, says Missed Fortune ’s Andrew, most of them are finding they’re in a higher tax bracket than they’ve ever been–with even with less income. According to the Missed Fortune workshop, this is because retirees usually lack the deductions they had when they were younger and working—home mortgage deductions, deductions for investments in IRAs and 401ks, and deductions for dependents, who are now grown.

Learn more by visiting Missed Fortune online at www.missedfortune.com