How medical debt and other collection items are tallied in a credit score is changing, potentially increasing the credit scores of millions of people.

Called the FICO 9, the new credit score changes how medical collections are treated from non-medical changes, such as credit cards. A medical debt will now damage a credit score less than paying a credit card bill on time, for example.

FICO 9 came out in 2014, but the improved credit scores could just now be coming to fruition for many consumers because it can take a few years for banks and other lenders to implement the new system.

The new FICO 9 score should give responsible borrowers better access to credit and lower rates on existing credit once the changes are accepted by the industry.

Part of the thinking behind the changes is that for many people facing medical debt collections, it isnt something they have a lot of control over. People get sick or are in an accident and cant control how high their medical bills are, and may not even know that their medical debt is in collections.

More than 64 million Americans have some kind of medical collection record on their credit reports, according to Experian, a credit bureau. Almost all medical debts are reported to credit bureaus by collection agencies.

The FICO score is the most widely used credit score in the country, and is used by companies selling mortgages, credit cards, personal loans and more.

Another change with FICO 9 is that older collection items will have less impact on a credit score. Other types of debt that are sold to a collection agency”such as an unpaid utility bill or phone bill, school loan or rent”can still be reported to a credit bureau, but older collections will have less impact on a credit score. If the collection item is paid back, the score will improve.

I hope you found this real estate information helpful. Please contact me for all your real estate needs today!

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One third of American homes today house residents over the age of 60, and 90 percent of those residents would prefer to stay in their homes as they age for as long as humanly possible, a study by the National Institute on Aging shows.

With more Americans living well into old age, that may seem like a tall order. But planning ahead can make aging in place more achievable for you or your loved ones.

The National Institute on Aging and Senior Living Magazine offer practical tips for making any home safer as we age:

Fix walkways. This is the time to repair cracked or uneven areas of the walkway that could prove hazardous.

Improve lighting. Install point lighting at the front door and motion-sensor lights focused on the stairwell to make entering the home and climbing the stairs safer.

Add railings. Speaking of stairs, if you do have them, adding another railing on the wall side will make climbing much easier as you age.

Safety-proof the kitchen. Switch to appliances with easy-to-read controls and simple-to-push button interfaces. Installing Lazy Susans or roll-out shelving in pantries and cabinets will make it easier to access foodstuffs, dishes, pot, pans and more.

Guard against slips and falls in the bath. Add non-slip flooring and a securely attached grab bar to the shower. Consider building in a permanent bench or purchase a sturdy shower chair. Install a hand-held, adjustable height shower head with a hose to help direct the water.

Security and home automation. In addition to a home security system, look into systems that automate light control, entertainment and more.

Know how to get help. Do an online search now to become acquainted with available senior resources”such as transportation, meal delivery or personal care service”provided by local agencies, senior centers and state offices.

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Here are a few of the reasons why more and more luxury homes are being equipped with smart toilets.

Super Sanitary

Todays cutting-edge models boast a self-cleaning functionality, air-purifying systems and automatic flushing.

Personalized Experience

Some high-tech toilets boast adjustable heated seats, foot warmers, ambient colored lighting and even Bluetooth capability.

Built-in Bidets

High-tech toilets often include a remote control to adjust the temperature and spray position of a built-in bidet, as well as a warm air dryer.

Water Efficient

Toilets are the main source of water use in most homes. However, some smart toilets use as little as 0.8 gallons per flush.

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Do you have a room in your house that always seems dark no matter what? Perhaps it’s due to low ceilings or minimal windows. Maybe the walls are painted a darker color than you would like. Whatever the reason, don’t worry. Below are a few simple ways you can brighten the space.

Remove or minimize window coverings. A dark room will only seem darker with heavy window hangings. Choose something light and gauzy, or remove window coverings altogether to welcome the sunlight.

Paint it white. From the ceilings to the floors, painting surfaces a white or off-white color will brighten your space and make it appear larger.

Add mirrors. We all know the old mirror trick can make a space seem larger, but did you know it can brighten it, too? Mirrors reflect light, so the more mirrors, the more light you will have reflected. Try a mirrored wall or a mirror-topped coffee table.

Remove (some) furniture. The less crowded a room, the more space for light to bounce around. Nix any unnecessary furniture, knick knacks or clutter.

Trim the trees. Okay, so you’ve cleared the curtains, added a large mirror and painted your dark wood floors white. Does the room still seem dark? Head outside and look for any trees or shrubs that may be encroaching on your sunlight.

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Nearly half of Americans are living paycheck-to-paycheck, and 61 percent dont have enough money to cover six months of expenses, according to a GoBankingRates survey.

This trend of working to cover only day-to-day expenses can lead to the worst financial mistake of your life”not having an emergency fund. Without one, you could be forced to go into debt to pay for emergency medical care, a broken car that you rely on to get to work, a busted water heater, the loss of your job or any other unexpected emergency. Sooner or later, something will pop up.

A no-spend month could help solve that problem so that youre not part of the 19 percent of Americans who dont have any money in an emergency fund, or the 31 percent who dont have at least $500 set aside for emergencies.

The first goal for an emergency fund should be to accumulate enough to cover six months of living expenses. After that, work to increase it to a cushion of 18 to 24 months. To give it a good kick start, eliminate all non-essential spending for a month. Do this by sorting your expenses into wants versus needs.

Wants, for example, can include eating out, going to a movie, vacation, a date night, going out for a drink, shopping and anything that you can live without, such as cable TV.

Needs are pretty obvious. You have to pay your rent or mortgage, buy groceries, get the medical care you need and pay your monthly bills. Dont live without hot water or electricity just so you can save some cash.

At the end of the month”or the beginning if youre sure your budgeted numbers are correct”move the unspent money into a savings account or other account where you can get the money relatively quickly, if needed.

Hopefully, it will be enough money to cover your expenses for a month. If possible, continue this for a second month, or at least cut out non-essentials that youve found you can live without. Cable TV may not seem so important after a month away.

After that difficult first month, decide how much you can now afford to put aside in an emergency fund each month and have it automatically transferred out. You may not feel you need to put aside all of that first months savings each month, and can add some wants back to your monthly expenses. This process should have you sleeping better at night and not having to worry about emergencies that you cant afford.

Published with permission from RISMedia.

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From buying auto insurance to filing a claim, figuring out the language of auto insurance can be difficult. Why is your insurance agent recommending gap insurance and are OEM parts worthwhile?

Here are definitions of some of the more complex insurance jargon terms. If you come across something in your policy or your agent says something you dont understand, ask them to explain the terms.

Bodily injury liability: This insurance provision covers costs associated with injuries and death that you or another driver causes while driving your car. Such coverage is usually mandated by state law.

Collision coverage: Optional coverage in case your vehicle is damaged in a collision with a vehicle or other object, such as a tree, when youre at fault. Collision coverage wont reimburse you for mechanical failure or normal wear and tear of your car, but it covers damage from potholes.

Comprehensive coverage: Protects against theft and damage caused by something other than a collision. Damage from fire, vandalism, hail, flood, falling rocks and other events are covered.

Deductible: Amount subtracted from your insurance payout that you must pay first. For example, if you have a $500 deductible and $2,000 in damage is caused to your car, your insurance covers the remaining $1,500. There is no deductible for liability coverage.

Gap insurance: A new cars value starts depreciating immediately after you start driving it. If you lease or finance it, youre responsible for paying the full amount owed if something happens to the car. Collision and comprehensive insurance only covers the actual market value of the car.

Gap insurance covers the difference between the current market value and what you paid for the car. If you paid $25,000 for the car and a year later you owe $20,000 on the loan and the car is worth $15,000 and you get in an accident and total the car, your insurer will pay the market value ” $15,000. That leaves you with a $5,000 gap on the loan that youll have to pay, unless you have gap insurance.

OEM: Original equipment manufacturer, or OEM, auto parts are made by the manufacturer of your car to replace parts that are often damaged in auto accidents. These include fenders, hoods and door panels. Parts that are made by other manufacturers are called generic or aftermarket crash parts, and are usually cheaper though equally as safe as OEM parts.

Totaled: If the cost of repairs exceeds the cars value, the car is deemed totaled. With comprehensive and/or collision coverage, an insurer will pay the full market value of the car up to the policy limit, minus your deductible if youre at fault.

I hope you enjoyed this article. Contact me today with your real estate questions!

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When it comes to painting your space, there are myriad options: bright and sunny yellow, the classic eggshell white, a soothing blue or a fresh green. But one color you shouldn’t overlook when painting is gray. Below are five reasons why.

It matches. Gray is a fluid, flexible color that pairs well with a large variety of accents. This means you can swap out your color scheme over the years and keep the same paint job.

It’s elegant. Gray is a classic choice for a wall. Whether it’s a light smoky gray, a deep ash or a lavender tinted hue, gray doesn’t seem to age out.

It’s calming. Along with green and some shades of blue, gray has been shown to soothe and relax. This makes it a great choice for your bedroom.

It opens space. If you choose a light gray, the color can help create the illusion of a larger area. White is the typical choice for opening up a space, but if you’re looking for a bit more personality, gray is the way to go.

You can mix and match. Gray is an extremely flexible color. You can paint three of your walls a soft silvery gray, and then choose an accent wall to paint a deep slate. Or, paint your ceiling or floor a different shade of gray to add an interesting twist.

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Buying a house is complicated. First-time buyers can make costly mistakes. Here are things to avoid

Not Knowing What You Can Afford

Use a mortgage affordability calculator to avoid wasting time looking at listings that are too expensive.

Not Comparing Rates

By applying to several lenders, you could secure a loan with much more favorable terms.

Not Checking Your Credit Report

Check your credit and, if you find any errors, contact the credit bureau to have them corrected before you apply for a mortgage.

Choosing the Wrong Down Payment

A low down payment makes homeownership more attainable, but you may get charged higher interest.

Not Considering Other Costs

Be sure to factor in property taxes, insurance, maintenance, repairs and utilities into your budget.

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Creative-types can feel stalled if they don’t have a frequent creative release. But with work and family, it can be hard to make time for yourself and your creative endeavors. Below are three ways to add creativity to your day.

Do it first thing. Self-care is essential, and if creativity is a part of your make-up, filling your creative cup first thing in the morning can completely change the mood of the day. Do you like to journal? Sketch? Make music? Stoke your creative fire by spending 30 minutes in the morning doing what you love while savoring your coffee or tea.

Surround yourself with art. You don’t necessarily need to be doing something creative to feel creatively stimulated. Surrounding yourself with the artwork of others can help, too. Find a few favorite pieces and hang them by your desk so you can see them while you work, or by your bed so you start the day with a creative charge.

Find a social media group. If you’re a social butterfly, you may make more time for creativity if you can do it in a group, even online. If photography or writing is your thing, find a club of like-minded folks. Not interested in getting creative with strangers? Invite your friends to a virtual hangout and catch up. Even something simple like writing or singing together, even virtually, can be a creative release.

Hope you enjoyed this information! Contact me for more tips and tricks.

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