Moreover, the average age of their credit accounts will decrease, potentially affecting their creditworthiness. Each new credit application triggers a hard inquiry, which can temporarily lower their credit score. In the excitement of purchasing a new home, clients may be interested in offers for new credit cards or financing. Doing so can improve their credit score and increase their chances of securing a favorable loan. Recommend they pay down high balances before applying for a mortgage. Encourage them to keep their credit card balances below 30% of the limit. “Credit can be a minefield, but armed with the proper knowledge, you can help first-time homebuyers sidestep the money traps in wait.”įirst-time buyers often fail to realize the impact of credit utilization on their scores. Too much water (high credit utilization) can sink the ship (credit score), while too little water can leave it stranded. Think of credit utilization as the delicate balance between water and a boat. A clean and accurate credit report is the bedrock of a solid financial foundation.Īt the same time, many prospective homebuyers may neglect credit utilization. Advise your clients to request their free annual credit reports and dispute any inaccuracies they find. Even a minor error can lead to a higher interest rate or an outright loan rejection. Similarly, prospective homebuyers who don’t scrutinize their credit reports set themselves up for disappointment.Įncourage your clients to obtain credit reports from all three major bureaus - Equifax, TransUnion and Experian - and review them for inaccuracies. Should professional help be available, always wait for a rescue as wiggling yourself out of quicksand could take quite a while, and it is possible that the prolonged pressure of quicksand on the body could cause damage or difficulty breathing.Imagine a builder laying the foundation of a house without assessing the ground beneath it. The unflappable Bear Grylls displayed just such an escape method in one of his survival guides. However, it is possible to float your way out by slowly and calmly wiggling your body into a horizontal position, according to experts. So how do you survive should you ever find yourself in this sticky mess?Īsking someone to pull you out could easily lead to injury or someone else becoming stuck as it is estimated the force necessary to pull a foot out of quicksand is the same as lifting a medium-sized car. The true killer of quicksand victims is exposure or possible drowning in nearby rising tides. The grainy mixture increases in viscosity as whatever is trapped in the quicksand struggles, making it extremely hard to get out of, particular if the victim is panicking and becoming exhausted. Often the sand on top may appear solid, but with the added pressure of a footstep, the sand will mix with the water beneath it forming a thick sludge. Often these traps are found near the periphery or edge of natural water sources. Quicksand occurs when fine sediment such as clay, sand, silt, or other grainy soil becomes saturated with water, typically from a subterranean source. In fact, studies have found it is impossible to be completely submerged in quicksand because humans are less dense than quicksand and a person would only sink to their chest before they begin to float.īut what can make quicksand deadly is its ability to trap and hold unsuspecting victims. Whether in movies or on TV, any consumer of popular media will be familiar with tales of quicksand swallowing people and animals whole, but as is often found in movies and entertainment, the science and reality behind the fantasy don’t always add up. Quicksand may not be the horrific danger we see portrayed in popular movies and television.
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