Tuesday, February 24, 2015

How is My Credit Score Determined?

The company I am affiliated with provides some great training! During one of our business meetings we discussed 'credit scores' and how they are determined. Eddie Kirby with Guarantee Mortgage did a great job!

If you borrow money, you better know what your score is. Determine your score first before you apply. There may be some quick easy steps to raise your credit score, such as paying off a credit card, reducing the number of credit cards or paying off student loans.  Let's discuss how your score is determined. There are several factors that go into the calculation. Look at the following chart!

Your score is determined by the following:

  • Payment History – 35% - Includes information on types of accounts, public records, payment delinquencies, collections
  • Amount of Debt – 30% -  Number of accounts (loans, balance of installments compared to the original loan amount, proportion of high credit to balance on revolving debt.
  • Length of Credit History – 15% - Do you have a long period of consistent and on time payments?
  • Acquisition of New Credit – 10% - have you recently taken on a lot of new debt, this may decrease you chances of securing financing
  • Type of Credit in Use – 10%   Mortgages vs Pay Day Loans and Title Loans

To see my listings visit AllSouthLandandHomes.com Buying or Selling Land? Contact G. Kent Morris, ALC, RF at      (706) 457-0090

Sunday, February 1, 2015

To Burn OR Not To Burn…That is the Question!

To start the discussion let’s establish some rules…generally prescribe burning in done in pine stands and here’s why. Hardwood bark can be thin and is NOT a good insulator against the heat built up during a fire. Thus fire can damage the hardwood tree making it more susceptible to fungi and rot. Most of the southern pines do great in a fire ecosystem. The bark is thick and the tree is a natural invader of open areas like those caused by fire or fallow fields.

Now, let’s carefully examine the pictures…

This tract was 'BURNED'

This tract was 'NOT BURNED'

Believe it or not, these trees are the same age, they are separated by a fence. One owner elected to burn his, the other did not. Burning will actually put MONEY in your pocket. The trees are actually bigger on the site that was burned. The fire helps eliminate the herbaceous and woody competition on the site, therefore more water, nutrients and sunlight are available to the trees. The other benefit is visibility and accessibility. A forester cruising the timber needs good visibility, whether he is using fixed radius plots or variable radius plots, he has to see the trees. He is subject to miss a tree if the undergrowth is thick.

You might wonder about the cost, the Georgia Forestry Commission told me most of the fires they conduct cost the landowner between $12 and $17 per acre. Generally the larger the tract, the cheaper the burn!

Burning is a win-win situation and there are very few reasons not to burn. It helps keep a healthy forest!

To see my listings, go to AllSouthLandandHomes.com For information on buying or selling LAND, contact G. Kent Morris, ALC, RF at                (706) 457-0090