Category: Banking

Insights on the Second Set of Qualified Opportunity Zone Regulations

Insights on the Second Set of Qualified Opportunity Zone Regulations

Insights on the Second Set of Qualified Opportunity Zone Regulations


— Read on commercialobserver.com/2019/06/insights-on-the-second-set-of-qualified-opportunity-zone-regulations/

Really good overview of Opportunity Zone program.

4 Reasons to Buy A Home This Winter! — Inside My Real Estate Mind

Lots of options for First Time Home buyers.  Get ready this winter and early spring for the home buying season – Fannie Mae – Home Ready or Federal Home Loan Bank’s – First Front Door programs are a really good place to start.  Check with your mortgage consultant today!

If the right thing for you and your family is to purchase a home this year, buying sooner rather than later could lead to substantial savings.

via 4 Reasons to Buy A Home This Winter! — Inside My Real Estate Mind

A Guide To The Benefits Of Business Credit — Australia Guides

In this guide to the benefits of business credit; we explain what business credit is, outline the factors that are used to determine business credit, and detail the benefits of having good business credit. Jump To: What factors determine business credit? What are the benefits of having good business credit? Where can I get more […]

via A Guide To The Benefits Of Business Credit — Australia Guides

While building good business credit takes time and effort, ensuring that your business has a good credit rating is critical to its growth and success. And the best time to start doing it is now!

 

Coaching, Training or Mentoring

Good overview centered on people development. Effective leaders demonstrate and use these skills to drive employee performance and engagement.

nathanwood.consulting/2017/12/04/the-differences-between-training-coaching-and-mentoring/

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King of Tax Shelter in the US: Qualified Opportunity Zone — BnsTech Report

Q. What is an Opportunity Zone?

A. An Opportunity Zone is an economically-distressed community where new investments, under certain conditions, may be eligible for preferential tax treatment. Localities qualify as Opportunity Zones if they have been nominated for that designation by the state and that nomination has been certified by the Secretary of the U.S. Treasury via his delegation authority to the Internal Revenue Service.

The term “Opportunity Zone” is a new term in accounting and finance. Yet, it should not be strange to accounting and finance professionals. This term was created when the Tax Cut and Jobs Act was enacted on December 27, 2017 under Trump’s Administration. According to the IRS, this Tax Cut and Job Act was created […]

via King of Tax Shelter in the US: Qualified Opportunity Zone — BnsTech Report

Varo Money Survey: Majority of Philadelphians Believe Philly Offers Best Quality of Life for the Cost in the U.S.

Mobile banking company Varo Money, Inc. has announced the results of their #SwitchYourBank survey. The survey of more than 1,000 U.S. adults age 18+, conducted by Propeller Insights on behalf of Varo Money in April, determined what Americans most love about San Francisco, Los Angeles, Chicago, Philadelphia, and New York, where quality of life is highest for […]

via Varo Money Survey: Majority of Philadelphians Believe Philly Offers Best Quality of Life for the Cost in the U.S. — Philly Life & Culture

Brand Management Manifesto

Effective brand management requires developing a good relationship with your target. If I were to ask you, “Who makes up your ‘target market’,” I’m sure I would receive answers that include both existing customers and potential customers.These are accurate responses, but how many of you would have included “employees” as a target market for your brand? As marketing leaders, it is imperative that we think of brand management in the three pillars that make up our brand: Market, Customers and Employees. All three are critical to the strength of our brand.

Read the full report below by: Karen Kislin at Raddon

Source: Brand Management Manifesto

Be Mortgage-Ready in 2016

Mortgage-160129by Vince Liuzzi
Executive Vice President and Chief Banking Officer, DNB First

 

It’s that time of year again; the time to think about the goals you’d like to accomplish over the next 12 months. If one of those goals is owning a home, there are some important steps you can take to put yourself in the best position to get the mortgage you’ll need to make it happen:

  • Do your homework. Before you start shopping for a home, take some time to study the real estate market and the prices of houses in your target area. Real estate websites, such as Zillow, Trulia, and Realtor.com make it easy for you to browse by area and price ranges.
  • Determine how much you can afford. Once you get a sense of home prices, figure out how much of a mortgage you can afford. With a conventional mortgage, lenders generally require that your housing expense not exceed 28% of your income. This number is slightly higher for non-conventional loans, such as Federal Housing Administration (FHA) loans. You can do a quick analysis of how much you can afford by calculating and comparing your income and expenses.
  • Know your credit score. One of the most important factors in determining your creditworthiness, or your ability to qualify for a mortgage, is your credit score. A good credit score will not only help you qualify for a mortgage, but also help you earn a better interest rate, thereby saving you thousands of dollars over the life of the loan. Your credit score is actually determined from the information on your credit report, so it’s important to request a copy of your credit report to review your credit history and to ensure no errors have been made. You can obtain your credit report from any one of three major credit bureaus: Equifax, Experian, and TransUnion.
  • Do some credit cleanup. By getting a copy of your credit report, you’ll be able to determine what, if any, areas you need to clean up to improve your credit score. Here are some basic steps you can take:
    • Address any errors. Credit report errors are very common, so if you see something that may be inaccurate, be sure to dispute it. Ignoring an error could end up getting you a higher interest rate, which could cost you significantly.
    • Get current on any debt. If you have delinquent accounts, be sure to make good on any overdue payments as soon as you can. If you can’t afford to pay the entire balance, contact the creditor and work out a payment plan. Don’t ignore what you owe, as inaction could cost you greatly.
    • Pay all your bills on time. Get into the habit of paying every bill you have on time.
    • Limit new debt. While it may be tempting to save 20% on your purchase at a department store if you open a charge card, doing so could hurt your credit score. Try to limit the amount of credit lines you have.
  • Get pre-approved. Before you start shopping for a home, you should obtain a pre-approval from a lender. A pre-approval offers several advantages. It will let you know how much you can afford, allowing you to focus on homes in your price range. Plus, it will give you a negotiating edge with sellers, informing them that you’re a serious and qualified buyer.

So, as you can see, putting yourself in a better position to obtain a mortgage isn’t rocket science. However, if you follow these steps, you can get the best rate and be over the moon in 2016.

 

5 Cool Reasons to Use Your Credit Card

Credit card-151214by Vince Liuzzi
Executive Vice President and Chief Banking Officer, DNB First

 

Credit cards. We’ve all been warned about the dangers of using them. Some experts advise you to cut them up. Others offer creative suggestions to discourage usage and avoid temptation, including putting your credit cards on ice.

Before you do anything drastic, freeze.

A credit card can be a very useful tool to help manage your finances. Here are five smart reasons to use one:

  1. Expense tracking. One of the biggest financial mistakes people make is not knowing how they spend their money. That’s why one of the first recommendations financial experts make is to determine your expenses and set up a monthly budget. If you pay your bills using a credit card, you’ll be able to easily track expenses. And if your credit card offers a year-end summary of purchases, you can make annual income tax preparation a whole lot easier.
  2. Credit building. If you’re starting out and plan to buy a home or car someday, you’ll need to establish a credit history. Credit cards are a great way to do this. Keep in mind, however, that to maintain a strong history, you’ll need to make payments on time and limit the amount you borrow.
  3. Savings. Most credit card issuers, including DNB First, offer credit cards with rewards for the purchases you make. You may be able to earn cash back or enjoy savings on travel, merchandise, and other goods and services.
  4. Protection and peace of mind. Credit cards often offer travel benefits, including emergency assistance and travel accident insurance. Your credit card also comes with another level of protection, purchase protection, which covers you if you have a problem with something you purchase or if someone makes unauthorized purchases with your card.
  5. Emergency money. Life is unpredictable and there may be times when you encounter financial emergencies. With a credit card, you can easily access the money you need. If you’re traveling, it’s always wise to bring along a credit card, which offers worldwide acceptance.

Use credit cards wisely.

Despite the advantages of using credit cards, they still present risks if not used wisely. Here are some ways to ensure you avoid credit card trouble:

  • Pay off your balances in full each month to avoid interest charges.
  • Don’t charge anything if you don’t have the money to pay for it.
  • Make your credit card payments on time. Every time.
  • Avoid opening too many credit card accounts, including department store cards.
  • Review your statements and activity to ensure no unauthorized purchases have been made.

With the holiday season upon us, now is a great time to be disciplined with credit card usage. The last thing you want to do is charge more than you can afford – and well… lose your cool.