Mortgaging Your Dream House - Part 1

I decided to write a series about mortgaging your dream house after the government took over Fannie Mae and Freddie Mac. As the housing bubble bursts and more people face foreclosure, how do you get and keep your dream house?

First of all, a girl has to be in the know. The first step is to get your current credit rating so you can deal with the good, the bad and the ugly. Improve your credit rating (also known as a FICO score) or actively pursue fair, reasonable lenders who work with people with poor or no credit.

Secondly, you have to figure out what you can afford. Certain mortgages allow you to speculate about future income, which we will discuss next week. These can be risky, especially if your future doesn't turn out as prosperous as you hope. It is best to determine how much house you can afford today. Online loan calculators make it easier to determine how much you can afford.

Finally, much like getting the perfect pair of shoes, you have to shop around to find the best interest rates and options for your personal situation.

Next, we'll discuss different types of mortgages and what makes them work - or not. After all, every queen needs her castle!

Back To School Without The Dollar Store

Welcome back to school! Although the dollar store seems like a simple and tempting solution to your school supply needs, it may not be the most affordable choice. After years of back to school shopping, here are a few of my top suggestions:

- Buy basic items ahead of time. No matter what school supply list your child brings home, certain essentials like erasers, pens and pencils are always needed. When they go on super sale in July and August, buy boxes for as low as 33 cents each in everyday supermarkets and drug stores.

- Shop at office supply stores. I bought folders at Staples for 10 cents each. They are simple, colored pocket folders and the ones most teachers prefer. When you walk down the center aisle at Staples, you can find all the marked down school supplies such as glue, crayons and rulers.

- Read circulars that arrive at your house the week before school starts. Know where the sales are as this information comes in handy. For example, if you buy marble notebooks today at CVS you will pay over $2 each. The same size marble notebooks are available at Rite Aid for 33 cents apiece. Comparison shopping through free newspapers can save you a bundle.

- Buy quality water bottles, lunch boxes and backpacks. Your children will need these items for years. After first grade, avoid the temptation to buy cheap, trendy items. Get a good Jansport backpack - it lasts for years and always looks good. Purchase water bottles rather than buying juice boxes, which can cost plenty over the course of a school year.

With a bit of planning, you can get all those back-to-school supplies for less than you thought.