Hackney's Houses

Did you know that you can receive a free credit report each year?

Our credit scores are incredibly important and something to keep in mind just as you track your health.  Let's look at a quick example illustrating the importance of your credit score.

Let's assume someone has a 600 credit score and another with 700.  Each are applying for a $300,000 mortgage.  The person with the 600 credit score will have 2 points added to their rate.  So if the 700 credit score is at 6%, the 600 credit score will be 8%. 

What's this mean in terms of payment?  Check this out...

$300,000 x 6% = $18,000 / 12 = $1500/month

$300,000 x 8% = $24,000 / 12 = $200/month

So the 100 point credit score difference can mean a $500/month difference in payment between these borrowers.

To paint a picture of how easy it is to drop your credit score by 100 points...be late on one payment. 

In coming blog entries we'll take a look at how to protect and increase your credit score.  You will begin to see how your financial health is directly correlated to your physical health.

Here's how to get your FREE credit report...

The Fair and Accurate Credit Transactions Act of 2003 gives every consumer the right to receive their credit report free of charge every year.

To obtain a free annual credit report from each of the three major credit bureaus, your should visit

https://www.annualcreditreport.com, call 877-322-8228, or complete the Annual Credit Report Request Form (available online at http://www.ftc.gov), and mail it to: Annual Credit Report Request Service, P.O. Box 105281, Atlanta, GA, 30348-5281

Memorial Day weekend brings the annual, hold your breath, dust off the gear version of the Bellingham Olympics, Ski-to-Sea.

An 8 stage team event starting atop Mt. Baker and finishing in Fairhaven this year's event will be basking in sunshine and a fun festival atmosphere.

Starting with a cross country ski leg, it then meanders it's way through Whatcom County. 

2nd leg:  Downhill Ski

3rd leg:  Run (down the mountain...ouch!)

4th leg:  38 mile Road Bike (yours truly will be going all out to stay with the top guns)

5th leg: Canoe down the Nooksack River

6th leg: Mountain Bike

7th leg: Sea Kayak

Then you race to shore and ring the bell!!!

Over 400 teams will view for trophies and bragging rights.  Check out www.skitosea.com for more information.

Watch out for the RE/MAX Racing team...maybe a podium finish?!  Wait and see.  If you're not racing and you're in the area, the festivities will be happening all day down in Fairhaven. 

It's a must see on the holiday weekend!

I placed a link on the Home Page regarding the Top 10 Credit Score Myths and Mistakes.  It coincides with this month's Client Appreciation mailing.  Those involved with my Client Appreciation Program should be receiving this timely piece shortly.  If you haven't or you are not yet a part of the Client Appreciation Program (you need not be a "client" to be a part of this) just drop me a line at seanhackney@remax.net and I'll pop one in the mail to you.

What I've found is that our Credit Scores don't necessarily coincide with common sense.  For example, common sense would say...get rid of those unused credit cards.  That may be an idea to include over time, but that will actually drop your credit score in the short term.  Another example, pay your balance off early...even though this would seem to be a good way to boost your score, it doesn't even affect it because they don't report early payments. 

Take a look at the article, create your plan of attack, and stick to it.  As someone once said..."Shoot for nothing and you'll be sure to hit it with amazing accuracy!"

On the other hand..."Shoot for the moon and even if you miss, you'll land amongst the stars!!!"