Personal Credit is Improving!

Congratulations, America! 

You've done a great job with your credit. Your average FICO credit score reached 699 in April 2016, at the upper end of what is normally considered the fair credit range(650-699). By the time October 2016's information is compiled and released, you may well have broken into the "good" credit range (700-749).

Average FICO scores have been on a generally upward trend since October 2009, when they hit a relative low of 686. Not only have the average scores been rising, but the scores on either end of the scale also show positive trends. The percentage of Americans in the 300-499 FICO score credit range (the poorest credit range possible) fell consistently from 7.3% in October 2009 to 4.6% in April 2016. In the same period, the percentage of Americans in the highest FICO scoring range of 800-850 rose from 18.2% to 20.4%.

Can a Buyer Sue me for being injured while Viewing My Home?

Question: I put my house up for sale. My broker used a lockbox. Another broker brought by some buyers with an interest in the house. One of the buyers climbed on the roof to inspect it. What would happen if he fell?    Can he sue me?

Answer: Anyone can sue anyone else. That said, there would hopefully have to be some merit to the climber's claim and you certainly have arguments in your favor.

The idea of showing a house means that a prospective purchaser has the opportunity to view rooms, peek in closets, check basements and attics, look in cabinets and wander outside. The actions of the visiting buyer does not extend to behavior outside the realm of either reason or common sense.  For example, if the buyer had a sudden desire to carefully examine the innards of an electrical service box with his hand and screwdriver, that's not a problem which a reasonable and sensible person could anticipate. Check with your insurance agent and attorney concerning coverage and legal matters about your concerns.

If the buyer has concerns about the roof, they can be addressed with a written purchase offer that requires an inspection by a licensed and insured professional home inspector or roofing specialist.

2 Easy Ways to Lower Your Taxes

1. Contribute more to a retirement account

If you put money into a traditional IRA or 401(k) plan, you'll benefit in two ways. First, you'll get the financial security that comes with having savings available in retirement, and the earlier in life you start contributing, the more opportunity you'll give your money to grow. But you'll also benefit from a tax perspective, because the amount you contribute will go in pre-tax. What this means is that if you make $50,000 a year but put $5,000 into your 401(k), you'll only pay taxes on $45,000 of income. Talk about a win-win!

 

2. Donate items you no longer use

Is your basement or hall closet overflowing with clothing, tools, and gadgets you don't need? If you donate those items to a registered charity, you'll get to claim a deduction on your taxes. All you need to do is obtain an itemized receipt of what you give away to verify your donation, and you're all set.

Taken from the Motley Fool.