Escrow has closed, the title has been recorded in your name and you've just finished moving into your new home. While you may feel like the homebuying process is over, it's not. Be prepared for an onslaught of mailers, solicitations and tempting offers geared toward first time home buyers who are typically trying to rebuild their finances.

How have you been targeted for these mailers? Because your home purchase is a matter of public record.


There are many things you can do - and not do, for that matter in order to get back on solid financial ground.

The obvious things are: stay on top of paying your mortgage; try to avoid any major purchases like a car; and make sure you have adequate home owners insurance.

The following are 10 tips:

1. Keep saving and resist the temptation to spend. It is exciting to be in your new home and you may want to go out and buy furniture, replace outdated fixtures and appliances and redecorate in your style. However, you're likely to feel the pinch due to your new mortgage payments. Refrain from using high interest credit cards that will pressure you into trying to pay off the debt. Keep your other financial goals in mind, like retirement.

2. Consider electronic mortgage payments. This will ensure that you will never pay late which can tack on extra late payment fees which will scar your credit report.

3. Rebuild any emergency money reserve you may have depleted for the down payment for instance. Now's the time to keep stashing away money. Remember, you need at least 3 months of salary for a cushion.

4. Ignore offers for mortgage and disability insurance. These mailers will be clogging your mail box. Often these offers are grossly overpriced and don't offer the right benefits for you.

5. Don't be tempted by offers for a faster payoff on your mortgage. This offer involves turning your 12 monthly payments into 26 biweekly payments, so you end up making one extra payment each year. The problem with this offer is that there is usually a fee for this service and it may not be in your best interest. You can simply do the same thing yourself without the help of a 3rd party and not incur the fee!!

6. Review your tax assessment. If home prices have dropped in your neighborhood since you've moved in, you may want to appeal the assessment since the tax is based on your home's value.

7. Consider refinancing if the interest rates go down. Be sure to consider how much the cost will be to refinance and compare that to what you will save to see if this is a good step to take.

8. Keep your receipts. If you do home improvements you may be eligible to minimize the capital gain that may come when you eventually sell.

9. Ignore solicitations to homestead. Some companies will offer to protect your home's equity for a fee. Again, this is something that you can do yourself.

10. Last, but not least, ENJOY! Don't get so caught up in working, keeping house and spending money on improvements that will keep you from truly enjoying your new home! Good luck!