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"Thanks Sandy for all you did."
"Thanks Sandy for all you did. It was a pleasure to work with you. You went well beyond the call of duty on 38 Iselin Terrace! I hope to work with you again in the future."
Kathleen Mara, Buyer's Agent
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Financing Your Home >Credit Card Mania
Most people know that a checkered credit history can disqualify you for a home loan, and maxed-out credit cards can do the same thing. But what most people don't know is that merely having a large number of credit cards, even with low balances and a history of timely payments, can disqualify you for a home mortgage loan just as quickly.
According to credit experts, having a number of credit cards can be just as detrimental to the granting of further credit as a history of late payments. Lenders look at it this way: If you have ten credit cards, each with a limit of $5,000, that means you have the potential to run up $50,000 in debt virtually any time you choose. That mere possibility makes you a greater risk, from their point of view.
The moral of the story? If you are planning to apply for a home loan in the future, keep only those credit cards you actually need to use and cancel the others.
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| Q |
What is considered one of the key elements of the American dream?
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| A |
Home ownership is considered to a key to the American dream; more than 2 million first-time buyers bought property last year. |
 See More Real Estate Trivia > |
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- NUMBER1EXPERTS™ 
