Mortgages

Everyone’s looking to save money. That’s what you were doing when you looked to refinance your home. There were literally hundreds of dollars in savings per month with a new, lower mortgage rate. Trouble was, you weren’t sure your present financial status would look good to the lender, so you fudged a few items on your application. You stated your income was higher than it really was, and you didn’t disclose some of your debts. No biggie, right? Wrong. What you did was illegal.

It may surprise you to know that some seemingly innocent practices involving money can be illegal. Let’s take a look at a few so you don’t find yourself on the wrong side of the law.

So your checking account is at a bank—like the U.S. MegaBank of Wealthy Stockholders… That’s okay, we won’t hold it against you. But your bank keeps adding more drama (and cost) to your relationship with more fees. Again? Well, keeping their stockholders happy is job one. Unfortunately, keeping YOU happy is job two … maybe even three or four. Don’t keep playing second fiddle to those huge entities out there in financial space. Break up with your bank! That’s right, cut the ties. Ditch the deviance. Move on to someone who will appreciate you and treat you with respect. And hey, we know just the credit union!

So maybe we’re a little impartial when it comes to places that offer financial services. O.K., we’re intensely impartial. We’re down with credit unions, all credit unions. We’re a pretty unique bunch of financial institutions, we are. But when people talk about credit unions as alternatives to banks, many times there are questions, which is good; you want to be as informed as possible when it comes to something as important as your money. So to put minds at ease, let’s take a look at some of the concerns involving credit unions.

While the present economy has created a great time to buy a home, selling a home is another matter, times are a bit tougher. The market is overflowing with For Sale signs, so when selling your home, the object is to make it memorable. You can do this by staging your home so that potential buyers can see them living there as soon as they walk through the door. You don’t have to be Martha Stewart to give your home that inviting appeal, just make note of what the professionals do using furniture, décor and other accessories. Here are a few ideas:

You’re not sure exactly what your credit score is, but you know it’s pretty solid. After all, you pay all your bills, and you always do it on time, one of the single best things you can do to cultivate good credit. You have no hint of bankruptcy or foreclosure in your history, yet every time you apply for credit, you get the financial equivalent of the stink eye. What gives?

There may be an undertow lurking just below the surface of your credit score that’s scaring away lenders. What could it be? Here are a few things to look for:

It’s been a busy year for our first Young & Free St. Louis spokester, Rob Cartwright. Since last August, he’s been creating videos, writing blogs, running contests, and making appearances, along with other spokesperson-type stuff. But his time is about up...we’ve kicked off a search for the next spokesperson!

Are you the next Voice of Young & Free St. Louis?

Graduates, welcome to the real world, the place with full-time careers and bills and timeclocks. But don’t worry, it’s not all as ominous as it may sound. Chances are good you’ll have some money in your pockets now. And every once in awhile, you’ll have that glow from a job well done. It’s the usual yin and yang of life.

Now as we all know, some jobs are better than others. Heck, some jobs are way better than others. Maybe it pays more. Maybe you get to travel. Maybe your boss is Will Ferrell. What we’re going to list for you here are careers that have been rated very highly for 2011 by U.S. News in relation to job-growth projections via the Labor Department. Below are the top three careers for each career category.

Things have been crazy busy here at Vantage Credit Union lately as we launch new programs and services designed to help enhance your financial life. Plus, we have a number of important events coming up that we don’t want you to miss. So what’s new? Plenty! And in case you missed it the first time, here’s a quick recap!

NEW SERVICES

PurinaCare® Pet Insurance
Pet owners spent $53 billion on pet care in 2009, and those costs aren’t going down anytime soon. Hey, people love their pets. In fact, just this week, stltoday.com had a story on this very topic! That’s why we introduced pet insurance through PurinaCare. And if you’re a Vantage member, you receive a discounted rate!

We all know bad credit doesn’t do anyone any favors, but renowned financial guru Liz Pulliam Weston recently put a dollar amount to the cost of an underachieving credit score. It’s eye opening, as you’ll see.

Weston compared two fictional women. Emily and Karen, two friends who borrowed about the same amount of money over their lifetimes. Here’s the breakdown of that borrowed money:

1. $20,000 in private student loans
2. $8,000 in average credit card balances
3. New vehicles every seven years through age 70 ($25,000 per vehicle)
4. First home at age 30; $300,000. Upgrade to $400,00 home at age 40
5. $50,000 home-improvement loan

The big difference between Emily and Karen? Emily has a FICO credit score of 750; Karen 650. Emily maintains her score primarily by paying her bills on time, but also not maxing out her credit cards. Karen is a bit lax about paying her bills on time, having had several late payments over the past few years. She’s also a lot closer to maxing out her cards.

The examples that follow are only for illustration purposes as real-life interest rates can go up and down over time.

How’s that case of cabin fever coming along? You’ve had all winter to make note of your "cabin's" improvements. Are you getting the itch to get on with them, something as simple as a new coat of paint or as involved as a new bathroom? With all that work, how are you fixed for tools? Every homeowner should have a toolbox that includes a few essential tools for projects around the house. What might you need?

Before you begin purchasing any tools, understand that you have a number of options. After all, there are an almost endless variety of tools depending on your needs. First and foremost, give some thought to purchasing quality. Cheap tools are available, but chances are you’ll be back at the hardware store after just a few uses buying the same tool once again. Quality tools can last a lifetime. That means in the long run, you’re very likely to save yourself both money and headaches.

O.K., which tools make up a common toolbox?