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All the world functions on credit and borrowing power, is what Shakespeare probably would have said if he had been around in the last 100 years or so. Think about it: without credit or having bad credit it is really had to function in the world. And it is so easy to tarnish your credit with the way the system has been setup. But before you run for the any of those loans for people with bad credit here are three things to consider to help you avoid those extra borrowing costs and give you choice for you next credit situation.

Check your credit for errors
Shop around before you apply
Establish good banking relationships

Check your credit for errors. While we would all like to think at the financial and reporting institutions are infallible believe me they aren’t. Errors on borrower’s credit reports happen all the time. Sometimes it is the lending organization that is at fault and other times it is the credit reporting agency that is the culprit. Regardless of who is to blame the bottom line is you don’t want a lender making a credit decision based on incorrect information. You are allowed to pull your credit “impact free” once a year and that was designed for you to audit what information is on there. Make sure that the information is correct and if it isn’t get them to change it. Just make sure that you have the supporting documentation to prove your case as the burden of proof is on you – you can  imagine how many people try to get legitimate things removed.

Shop around before you apply. You wouldn’t believe how many people that have broken credit will throw their hands up and just take the first offer that is put in front of them without any shopping around or negotiation. Before you have any lending business run your credit (which if done too much in a short period of time will hurt your borrowing position) ask tons of questions including what is the best and worst case scenario in terms of the rate you will be charged. In the sub-prime market there is often tons of lenders that want your business, make them earn it.

Establish good banking relationships. There are times when a borrowers credit position is right beside or on the line. And in those cases having a champion to make a personal plea for your case can change a no go into a green light. In cases where your credit isn’t really that bad, it could really help to cultivate a relationship you already have with a personal banker. Make friends with them by getting to know them. Look at their desks and if there are picture of kids ask them questions about the important parts of their lives. These little things go a long way when you consider the fact that most client are all business. It is always a good idea to expand your network to include a banker and sub-prime lender, even make them your friends by inviting them to your next block party (which is a good opportunity for them to network for new clients too), give before you expect to receive and you can create real assets in your corner.

There you have it, three things to consider when you have credit issues (and maybe even before you are credit disabled). It’s always a good idea to take care of things before they become a problem so start today to set things up to help you in your financial journey.

Ponying up the dough for your first piece of real estate can be a little daunting. For many it will be the single most expensive purchase of their life. How do we come to terms with that decision is another matter entirely. There are a few things to know before you dive in, and you maybe pleasantly surprised.

At the end of the day after the credit check, paying for a mortgage can be the biggest expense in most people lives. Many will obsess about getting a quarter point of here or a half point off there but maybe we have it backwards? Maybe we should be looking at the bigger picture. It has almost become a right of passage to buy a house, get your mortgage and start a family. And in these times don’t forget about the massive schooling debt that hang over most.

Over the past 30 years or so real estate in North America went through the roof. This lead to the assumption that houses will always go up. The problem is that all markets crash, they have their downs and they have their ups. Consider that when faced with paying 2 to 3 times the price of you home, then the argument doesn’t stand as cleanly as it did before.

I’m going to suggest something that may sound crazy: don’t buy a house right away. I know you’re thinking I’m crazy and that maybe true but just think about it for one moment. Saving and investing your down payment to make it more than the minimum will save you tens of thousands of dollars in the longer run; that’s just in mortgage interest. What about the up keep of the house? Re-paving the driveway, new roof for the house, replacing a furnace and the list goes on and on.

Sometimes thinking about the opposite will help give new perspective and may lead to new and better decisions. Making this choice is a big one and shouldn’t be taken lightly. Just remember real estate isn’t the perfect investment, it’s just an investment.

In this baby boomer era (at least in North America) provides some interesting topical discussions that weren’t as widely discussed as they were in the past. It seems that the more people something effects the more we hear about it regardless of if it affects us or not. We have heard a lot about the empty nest syndrome and this is the logical next step to that drama.

There are a few important take away points to consider:

80/20 Rule
Donate
Give Away
Yard Sale

Many have taken a step back, especially if they are now retired, and decided that having multiple bedrooms do not make sense. They are also finding that they have a lot of “stuff” that has collected in garages, attics and basements. They have also come to the conclusion that they don’t use or need a lot of this stuff. One can become as overwhelmed as someone shopping through all the loans for people with bad credit. Never fear though there is directional help.

Use the 80/20 Rule. This is one that has been beaten to death in the business world but does still have value. Consider all the things you own, how many times have you come across something that you have need even thought about in the last 10 years. Why do you still own this object? There are some concessions that need to be made for family heirlooms and things of that nature but what about the old leopard print rug? It has been rolled up and stuffed in your basement and you haven’t even looked at it in 20 years. Rid yourself of the stuff that has no real use or when you honestly ask yourself about it’s future use is a resounding NO! Keep reading for some ideas on what to do with all this stuff.

Donate. Consider donating this stuff as a definite favorable option to taking to the city dump. Without getting to the philosophical aspects of the few that “haves” vs. the many more “have-nots”, the bottom line is there is probably someone out there that would benefit from stuff not being used that people seem to think they need to hoard. Many donation based organizations are willing to come and get the stuff you don’t want or need anymore.

Give Away. too much work trying to locate some organization to transport your old stuff? Why not just give it away. Start with family and friends and work your way out. If you are going to another country that have poor people trying to scrape out an existence? Why not take so of your old clothes and drop them off to people who really need the help. Think about religious organizations that are will to get your donations to where they are needed.

Yard Sale. This is a “oldie but a goldie” (yeah I said it). Yard sales, garage sales or whatever you want to call them are a great why to distribute all the things you no longer want. There is an investment in time and a small financial obligation for price tags and signs but it can be really fun. An even better way to execute the yard sale is to recruit your neighbors to join in and make it a community event. Not only will you achieve your first goal of getting rid of stuff you don’t need but you make investments in relationships with all your neighbors too.

And there you go, a number of idea’s on where to send all the stuff you have accumulated over the years and have no idea on what to do with. Moving from a larger home down to a smaller one and making the world a little bit of a better place to live in at the same time.

What do apartment credit checks look for? A question that I am sure many people have wondered. The answer is pretty simple unless you want to get really granular. Before scouring the on and off line world for apartments for rent in Winnipeg, you may want to credit check yourself and see where you stand. If you find yourself as one of those that need to look at: loans for people with bad credit don’t flail about there are options. The short answer to the question of what is being looked for through an apartment credit check (for a prospective tenant) is the applicant’s ability to pay their rent one time, every time. I know, almost everyone will say: I knew that! But how the landlord comes to that decision after looking at your credit is another discussion completely.

There are a number of pieces of information that would help them come to the decision. Your credit report goes beyond just payment history and outstanding debts. It also lists past and present jobs and residential addresses. It becomes much easier to see where they are coming from by asking one simple questions: what would I look at if I was renting out to someone on their credit report? And this is a very good strategy for all most anything where you are trying to get into the other person’s head and understand where they are coming from. This will help you better prepare for the goal you are trying to reach.

If a person’s report shows that they have been moving around year after year than that shows a level of instability. Now there is usually one off’s that can be explained away but if you are entering into a year long agreement what would you want? Also think about how much trouble it is for a landlord to fill vacancies. Each time they roll the dice, they run the risk of getting a bad tenant.

Look at instability in a perspective tenant’s work history. This can be viewed like an “unstable” domicile history. If they are moving from job to job than not only are they a risk in terms of losing their income but a landlord runs the risk of their tenant moving away to follow work.

These are only a few things to consider and like I insinuated before: there are other considerations. If you do have credit issues than think about asking someone for help to co-sign the deal with you. Not only will this get you the place you are looking for but it will also help your credit score with your responsible rental payments. It always helps when you get more than one benefit from any investment of your time.