The Bergen County Homes Blog

There’s a relatively new website that is all about Bergen County and what’s happening here.  Go to www.MyBergen.com and you’ll be amazed at all the information you’ll find there.

Today you’ll find a video on last month’s special Chamber of Commerce event in Westwood at their public library.  Called “A Taste of Westwood” this was a community event to raise funds for the Westwood Public Library and to support hospice.  If you take the time to watch it, you’ll get a real view of what it’s like to live in Bergen County.

I have to admit that as a mother I loved the Kid’s Corner where you’ll find all sorts of activities for children from Robots in Upper Saddle River this August to the New Jersey Children’s Museum in Paramus where they are again having their Summer Fun Workshops.

MyBergen.com also has a great calendar of what’s happening and also tips on where to shop, where to eat and a wonderful section just for people who’ve moved here recently titled New Movers.

Whether you’re a new resident or have been here for years, I’m sure you’ll find www.MyBergen.com a neat website to visit.

What could be better than buying a home in Tenafly NJ and taking a walk downtown on a Sunday only to find an amazing assortment of fresh produce at the Tenafly Farmer’s Market?

Every Sunday from May through October, Tenafly NJ residents as well as people from neighboring towns come to the local post office parking lot on Tenafly Road where from 10 am to 2 pm there is a wealth of fresh fruit, vegetables and organic items for sale.  You’ll also find wonderful fresh baked bread, pies, muffins and scones as well as bottled jams and honey.  There’s even farm fresh milk.  Many Sundays local artisans have their crafts on display along with local artists.

The Tenafly Farmer’s Market has become so popular that if you’re coming, it’s best to get there early so you don’t miss out on anything.  Without a doubt, one of the special advantages of owning a Tenafly home is the Sunday farmer’s market.  You can check it out online at http://www.tenaflyfarmersmarket.com

Qualifying for a mortgage loan requires a good credit history.  Banks want a proven record of responsible financial behavior and lines of credit answer this requirement.  It’s not enough to use a mortgage loan calculator to figure your mortgage payment amount, you need to demonstrate that you can handle credit successfully. 

What is a line of credit?  A line of credit (aka credit line) is when a bank grants an unsecured loan amount.  Unlike a regular loan, interest is only charged on how much of the credit line you use.  For example, a department store credit card has a limit of $500.  That’s your line of credit.  You spend $50 which leaves $450 left on your line of credit to use.  When the bill comes, if you pay it off in full, there’s no interest charged.  If you don’t pay it in full, the amount you owe incurs a credit charge. 

Harry Vanezis, Vice President and Senior Loan Officer at Bank of America, said that for mortgage loans, banks consider a car loan/lease and rent/mortgage payments as lines of credit too.  Harry advises that you get a bank and department store card.  “Charge your gas every other month on the bank card and use the other for gift purchases but pay off the bill in full when it arrives so you don’t incur interest expenses” said Harry.  “If you do this and pay your other bills in full and on time, you’ll have an excellent credit history.”  While 4 lines of credit are best, 3 will work if your other credentials are strong.

Amazing as it is, paying cash for everything makes getting a mortgage difficult because you have no verifiable record of good financial behavior.  Prudent and regular use of lines of credit creates an excellent credit history.