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Blog posts by: Ron Thompson

Got credit? Five tips for creating and maintaining a good credit score
By Ron Thompson Maintaining a good credit score can mean the difference between getting and not getting a loan needed for a home or car. More recently, maintaining a good credit score can also affect your ability to get the job or rent the apartment you want. Here are five quick and easy ways to improve and maintain a healthy credit score: 1. Keep those cards open. A credit score is influenced by how much credit we have available to us, compared to how much we have used. Older credit is also...
8 weeks 1 day ago | more
Term limits: They’re important for loans too
By Ron Thompson One of the most common questions I receive as Home Loan Counselor at the New Hampshire Community Loan Fund is whether a borrower should amortize his or her loan at the full 25-year maximum, or perhaps go for a shorter loan term. At first glance the answer might seem obvious – a shorter loan term will pay the loan off sooner and save the borrower thousands of dollars in interest over the life of a loan. Sure, your mortgage payment will be higher but it will be well worth it in...
1 year 2 weeks ago | more
Now THAT'S a loan modification!
By Ron Thompson It’s so nice to hear something good about loan modifications! You have no doubt heard about the mortgage loan modification/foreclosure mess spreading across the U.S. First, lenders battered by public and political pressure promised to modify the loans of homeowners in financial distress. Several months later, we learned that most borrowers were either ineligible for the modifications or received a modification that neither reduced the principal balance on their loan nor made...
1 year 29 weeks ago | more
Opportunity: Why I love my job
By Ron Thompson I got a call a few months back from a man who had been in a horrible car accident several years earlier. The accident left him unable to work. He lost his house and his credit was wrecked. Finally, after being approved for permanent disability, he and his wife felt they were ready to buy a small manufactured home. But because of his bad credit, all the banks they applied to denied them a mortgage loan. Then a friend told them about the Community Loan Fund. Because the home they...
1 year 41 weeks ago | 1 Comment(s) | more