TIPS FOR WORKING FROM HOME

Over 25 million people in the United States work from home and that number is increasing daily as companies and employers strive to decrease costs and increase productivity during these challenging economic times. While working at home is not feasible for every job or personality type, if your company allows it, it can be the perfect fit for some.

Here are five tips to make the most out of working from home:



1. Define your home office space

Make sure it is free from distractions and has a door you can close for privacy. This will also help differentiate between work and home life. Organize your home office as you would in your company's office space and spend a few minutes at the end of each day tidying up in preparation for the next business day.



2. Follow a dress code

Even if you are working from home, you should follow some sort of dress code. You don't have to don your best suit or anything that requires dry cleaning, but neither should you simply roll out of bed, and into your home office, still clad in pajamas or lounging clothes. Studies show that the way you dress affects your attitude and productivity.



3. Don't allow yourself to become "out of sight, out of mind"

Stay in contact with your boss and colleagues via email and phone. Remain accessible, communicate the successes and challenges associated with your projects to your boss, and collaborate with others as needed. Make certain that you stay on the radar and are always an essential contributor to the team.



4. Set regular office hours

Having regular office hours that include breaks and time for lunch will help you stay fresh, focused and allow you to accomplish your daily objectives. Try to resist the urge to go back into your office after your day has ended.



5. Get out and about

It is important to maintain ties with the outside world, so schedule a little time daily for outside activities. To avoid feeling isolated, take a brisk walk around the neighborhood during your break or schedule lunch with a client. This will help boost your energy level and maintain your positive outlook.


There are no hard and fast rules for working at home, as each individual and their situation will vary. Using these simple tips may help your home office become more efficient, effective and enjoyable, providing a win/win situation for both employer and employee!

~~From Foundation Title

PLEASE DON'T KEEP US A SECRET!

Thank you for confidence in our team

The George Margrave Team

Your Personal Mortgage Consultants

1-615-777-HOME (4663)

Fax Number 615-777-FAXX (3299)

www.mignashville.com

The Truth About Closing Credit Cards

If you have read anything about how to get and keep a high credit score, you have probably seen this advice: never close your credit cards. This advice is true and good. Sort of.


The 2 parts of valid reasoning behind the idea of not closing any credit cards are:

1. Closing a credit card will decrease your debt utilization ratio. A whopping 30% of your credit score is calculated from your Amounts Owed. Your debt utilization ratio (your total revolving debt divided by your total credit limit) needs to be as low as possible in order to reap the maximum credit score. Closing a credit card takes away some of your total credit limit, which can raise this ratio, and lower your credit score.

2. Closing a credit card will impact your length of credit history. It's a fact that the credit scoring model looks at how long a person has had credit established; the longer, the better. Closing a credit card you have had for many years may cause your length of credit history to decrease, which can result in a lower score.

So, there are valid reasons to not close your credit cards.


ADVICE: Never close a card that has a balance, your only credit card, or your oldest credit card!


But what if you have a ton of cards, are aiming to streamline your finances, and want to close some of them? Which ones can you close that will have minimal impact to your credit score?


If you have made the decision to close some of your credit cards, choose these (in this order):


Your newest card. The last credit card opened needs to be the first one to go. This card is not helping you very much with your length of credit history, so closing it should not have much impact on your credit score.

Your card with a zero balance. If you never use a particular piece of plastic, it is probably not figured into your credit score (credit lines must be used at least every 6 months in order to be factored into your credit score). Closing a card you never, ever use should have no impact on your credit score.

Your card with the worst terms. Big annual fees, high interest rates, and no perks give you no incentive to keep a card active.

You card with the lowest limit. A low limit credit card is probably having little effect on your debt utilization ratio. Closing low limit plastic can help limit your number of cards without great danger of credit score damage.

Closing credit cards doesn’t have to kill your credit score, just make sure you are choosing wisely.

Other points to remember are:

Always look at your debt utilization ratio before closing a credit card. If your ratio is going to be over 30%, don’t do it.

Always keep at least one credit card open and active, and pay the bill on time. This will give you points for managing credit wisely.

Always keep your oldest credit card open and active.

Take these tips to heart to ensure that whittling down your lines of credit has minimal impact on your credit score.

~~Susan McCullah is the Product Development Director for Data Facts, a 22 year old Memphis-based company that provides mortgage product and banking solutions to lenders nationwide

If you would like to speak with me about this or need any help, would like a copy of your credit report, please give me a call at 615-777-4663 or email me at george.margrave@migonline.com

Happy Thanksgiving!

Cash On Hand?

Today's topic is cash and miscellaneous deposits to your bank account. When processing a loan, it is an issue.


And you say how can that be a problem? When an underwriter looks at a bank statement and sees deposits that are not payroll they have to find out where it came from. They worry that it is unreported income which is a problem on loans with income limits such as THDA, or they worry that there is an unreported obligation, so you can save yourself a lot of aggravation if you have cash and can't document it by not putting it in your account. If you are going to need it to make your down payment, we need to address it. Call me for insight.

Should you have any questions or need help with any of this, please feel free to contact me at my office at 615-777-4663, my cell phone at 615-481-5626 or via email at George.margrave@migonline.com .

What is the rate today?

Every day we get these calls that start out with “what is the rate”? After discussing the situation it becomes apparent that they have found something like 2.875% interest on the internet somewhere. But no one told them how much the points and closing cost would be. If you pay enough you can buy almost anything. And if they get a little further in the process, they are asked to send their personal information to “who knows where”. The company may not even have a retail address. So when something goes wrong who can they talk to?


Or which person suddenly has all that personal information? ID Theft anyone?

I’m just sayin…………..

Remember you can always reach me via email at George.Margrave@migonline.com via telephone at 615-777-4663 or visit my website at http://www.mignashville.com/ I am more than happy to speak with you.

THDA Tax Penalty?

If you or someone you know had a THDA loan (for first time home buyers), there may be an assumption that the home cannot be sold for 9 years.  Or if it is sold, many think there is a big penalty. These misconceptions come from the signing of a form that explains the recapture tax.  Since the bonds that fund these loans are tax free, the government decided to put this tax in place.  In reality, very few people are affected by it.  It is based on selling the home for a handsome profit and having a large increase in income.  In fact if this happened to you, it would probably be the best thing that could happen.

If you want to talk more or find out what we can do for you, please contact me at 615-777-4663 or via email at george.margrave@migonline.com I would love to chat with you and see what it is that I can offer you.  Thanks for your time!