CREDIT ALERT!!

If you are a parent of a college student or for that matter a child over 18 living at home, listen up.

Unless you want them to become a renter or to live with you for the foreseeable future, you need to help them build a credit history.  I can't tell you how many times the graduate comes in and has no credit.  We investigate further and they don't have a rent history.  Then we find out the cell phone they are so proud of is in Dads name and his car loan and insurance is too.  And so on.  You get the picture.  No credit and no alternative credit (like insurance, cell phones, utilities etc.).

So ideally, you would help them get a secured credit card (actually two) and an installment loan even if it is secured by savings.  They will want a 12 month perfect history on these accounts.  In the meantime get some of the above mentioned alternative accts in their name and push them to pay on time.  Next week we will address what to do with these accounts when you get them.

Good News for Veterans!

Today's news includes an announcement by Wal-Mart that they are pledging to hire 100,000 Veterans with honorable discharges over the next 5 years. I think this is great. I am not really a Wal-Mart fan, but this could make me one. I have seen some numbers that if a veteran who works for Wal-Mart has a spouse who has an average job, that they could qualify for the average home in the U.S. which is $186,000. So selfishly that could be a boost to the housing industry.

And since we at MIG also specialize in VA loans we can participate too. This is a good time to point out that THDA (the first time buyer agency in Tennessee) is offering Vets (and they don't have to be first time buyers) one half per cent off on their mortgage. That would put their starting rate at 3.1%. This is their Homeownership for the Brave program.

So if you know a Vet we can help please email me at george.margrave@migonline.com or call me at (615) 777-3299 and I will help them!

MIG & Team Margrave 2013

We have been getting geared up for 2013. MIG had a record year in 2012 closing about $1.17 Billion in loans. Yes, MIG is the largest independent lender in the State. My teams volume was the second best year we ever had thanks to my loyal clients.

This would be a good time to let you know who my team is. Stephanie Holland is my right arm. My second assistant and Stephanie’s right arm is David Baker. We also have Kim Shumate and Jennifer Hegele as our processors.

Our Manager Darin Anderson gives us great support and we also have two underwriters and Nita our closer right here in the office. So we are all set to handle your referrals!

Is Home Buying a Safe 2013 Investment?

No one knows the future, but it appears to even the most negative advisers that housing has bottomed and is headed toward better days. The last statistics show that homes are now appreciating. Of course Real Estate is local, but we see that here also. The bottom line is that housing markets depend on Jobs and other economic factors.  

If you compare buying with renting, buying is winning out in almost every calculation now. It is hard to beat low prices with low interest rates. 

And guess what?

We can help you make that purchase. Just email me at George.Margrave@migonline.com or call (615) 777-4663!