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| By Permission from Caitlin McIntire at Frederick Downtown Partnership |
Wednesday, January 13, 2016
Looking For Volunteer To Chair Frederick MD's Popular "Bring a Broom Saturday"
The Downtown Partnership is looking for a chair or co-chairs for Bring a Broom Saturday. As a co-chair for Bring a Broom Saturday, you
will work with Caitlin McIntire of the Partnership on planning event logistics.
The primary responsibility of the co-chair position is volunteer and block
captain recruitment. There is also
minimal logistical coordination with The City of Frederick. The time commitment is likely less than 10
hours between January and April and the meeting time is flexible based upon the
chairperson's schedule. Ideally, the
co-chair people would be present for the actual event on April 30, although
that is not necessary. To volunteer or
suggest someone, contact Caitlin
McIntire at caitlin@downtownfrederick.org
or call the Partnership office at 301-698-8118. Bring a Broom Saturday has it's own Facebook page: https://www.facebook.com/BringABroom/?fref=ts
Monday, January 11, 2016
Which Effects your Credit Score More? Mortgage, Credit Cards, Late Payments or Loans?
We have an idea of what is important in keeping our credit score at a healthy high but having just a little more knowledge can save you from having your score drop unnecessarily. Louise Johnson of Prime Lending submitted the following helpful explanation of the factors that effect your credit score. This information was provided in part by
Credit Law Solutions, and I think it may help clarify a lot of the myths
about credit scores.Louise: There is a lot of misunderstanding & misinformation in regards
to how different types of credit impact a consumer’s credit score. Many borrowers are under the impression that a car loan, mortgage, or other type of installment loan will raise their score immediately, as would revolving debt.
Installment Debt vs. Revolving Debt
Installment credit comes in the form of a loan that you pay back in level payments every month. The amount of the loan is determined at the time of approval, and the sum you've borrowed doesn't change over time. Examples of installment credit include mortgages and car loans.
Installment credit comes in the form of a loan that you pay back in level payments every month. The amount of the loan is determined at the time of approval, and the sum you've borrowed doesn't change over time. Examples of installment credit include mortgages and car loans.
.
Revolving credit is not issued in a predetermined
amount. You'll have a limit to how much you're able to borrow, but the
amount you utilize within that limit is up to you. Most revolving loans
are issued as lines of credit, where the borrower
makes charges, pays them off, then continues to make charges. Examples
of revolving credit include credit cards and home equity lines of credit
(HELOCs).
Revolving accounts are the key to a healthy FICO score
You probably know that a healthy credit report
contains a varied mix of credit types; in all likelihood, you have both
revolving and installment accounts open right now. This means it's
important to know that revolving credit is a powerful
force in determining your credit score. In fact, it has the potential
to do big damage if you're not careful. It can also be used to spike a
credit score upward.
First and foremost, any account you don't pay on
time will hurt your credit. Thirty-five percent of your score comes from
your history with paying your bills by their due dates. Consequently,
it should be a priority to make all your credit
payments - revolving and installment - on time.
But revolving credit weighs 30% of one's score & is the second-biggest portion of your credit score.
Credit scores consider how much you charge on your
credit cards versus how much credit is available to you. That's called
your utilization rate. The key is to keep your utilization rate below 20
percent for each credit card account and
for all accounts in total.
Here is a little known fact: Mortgage payments
& car loans absolutely hold a lesser weight on your client scoring
model. The balances are basically irrelevant & have zero impact on
the FICO score. It makes no difference if it is at 90%
or 30% or 10%. There is no way to "pay it down" to increase a FICO
score.
A credit card carries more weight than a mortgage and car loan and can cripple a credit score without ever being late.
The reason is because credit card debts tend to move higher over time,
which weakens overall credit position.
Mortgage debt, by contrast, eventually pays down to $0.
Remember, each revolving credit trade line affects
the credit to debt ratio AND the overall summary of credit to debt
ratio. This directly translates to the FICO score. A double dip that
Installment credit does not utilize.
Revolving & installment accounts both have an
impact on your credit score. But revolving credit is especially
influential & can dramatically alter your client’s credit profile,
good or bad. If you have any questions, contact Louise Johnson, Mortgage Loan Originator, NMLS: 392935, at Prime Lending, 10 North Jefferson Street, Suite 110 Frederick, MD 21701 ljohnson@primelending.com 240.285.0757
Tuesday, January 5, 2016
January 2016 eNews from the City of Frederick: Yard Waste Update, FCAA, Plein Air Event Easels, Solid Waste, and more
Happy New Year! Here is the January 2016 eNews from the City of Frederick.
This newsletter is packed full of useful information! It is re-posted
here by permission. If you have any questions or suggestions, direct
them to Susan Harding, the city's Public Information Coordinator, and
author of the newsletter: susan@cityoffrederick.com. The topics for this month's newsletter are shown below and the articles follow. See the e-Newsletter archives for other issues. ~ Darcy Richards
Contents:
Contents:
- Talk to the Mayor Tuesday January 26th from 2-6 pm
- Yard Waste/ Stormwater Update Effective January 4th
- Productions by The City of Frederick Audio Visual Department
- Frederick Community Action Agency Helping People - Changing Lives
- Christmas Tree Recycling Sites
- Juried Plein Air Event Easels in Frederick - June 13 - 18, 2016
- Weinberg Center for the Arts January 2016 Lineup
- News from the Frederick Police Department
- Solid Waste Management News
- Alert Frederick County Emergency Notification System
- Employment Opportunities
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In an effort to adhere to Federal, State and County imposed guidelines
and meet the requirements of our National Pollutant Discharge
Elimination System permit, The City of Frederick is requiring all yard
waste, including leaves and grass, be placed in acceptable recyclable
bags or appropriate containers beginning January 4th. For more
information, click 
If you or someone you know needs help paying heating and electric bills, please contact the Office of Home Energy Programs at 
Easels in Frederick - Sixth Annual Juried Plein Air Event in charming
historic downtown Frederick, Maryland & the surrounding countryside
What's happening in January at the Weinberg Center?
FPD & NACs Offer 2016 Community Crime Awareness & Prevention SummitSaturday,
February 6th from 8:00 AM - 12:00 noon, Hodson Auditorium, Hood College
Campus. Registration is required. A $5.00 registration fee includes a
light breakfast. Click 
IRS Tax Scam - Frederick Police Warn Residents about Continued IRS Tax Scams. 
The Frederick County 
Reduce, Reuse, Recycle T-Shirt ..... Design Contest 
The City of Frederick values diversity in its workforce and is an equal opportunity employer. For information on employment with The City, visit 
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