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CREDIT Automated Payments Help Ensure Against Late Payments When you go to borrow money or apply for credit, your credit score will determine whether you can get the best loan and the interest rate your income-to-debt ratio qualifies you for. Since 35% of your credit score reflects how well you pay your bills on time, it is worth it not to take any chances. Even those with the best intentions, and normally good follow-through, can inadvertently miss a payment while on vacation, by misplacing a bill or by simply being forgetful. One way to ensure against missed payments is to set up automatic bill payments. You have several options: Direct debit. Some lenders, creditors and other companies offer a service through which you can authorize the company to directly debit your bank account every month (quarter, etc.) to pay the full balance of your bill. You simply give the company your bank account's routing number and account number, and the billed amount is drawn from that account automatically on a specified date. Recurring payment. You may be able to use your online banking system to set up recurring payments to creditors and other companies. Through these systems, you provide the name, mailing address, and account number of the company to be paid, along with the amount to pay, due date and other preferences. This system is useful for amounts owed that do not vary from month to month, although you can edit your recurring payments online whenever you like. eBills. The eBill system is used by many different types of companies and delivers bills to you online (with notification by email) to the company's website. If your banking institution participates in eBills, you may set up automatic payments when those eBills arrive. Otherwise, you can go to the company's website to make your payment. Even if you do not set up automatic payments, it's a good idea to mark bill due dates on your electronic or paper calendar -- added insurance that you won't forget. Claim Your Dream Don't let the headlines fool you -- there's plenty of money available today for mortgage borrowers and refinancers with good credit. And rates today may never be better! Feel free to contact us to find out more. As always, there's no obligation when you call us. We're here to serve your real estate needs -- now or whenever you're ready!

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