The credit reporting agency, Transunion settled on a class action lawsuit by setting aside 75 million dollars nearly 2 years ago.  Now, this amount is but a drop in the bucket and a baby slap on the wrist for this particular credit bureau but that discussion is for another day!

The reason if you’re not familiar should knock your socks off, make you down right red eyed with blood rising to your head causing those vessels to bulge. Why? 

Why would anyone be interested in reading about credit report collections? Well, most the time it’s because you have been denied credit and have ordered the credit report to see what’s going on.  Low and behold many times there are collections on your credit report.  These collections are being reported by collection agencies and they’re killing your credit scores!

When someone researches their credit report for problems and finds collections, usually the immediate response is to begin looking for ways to correct or remove those items from their credit report. The good news is there are a few ways. The most popular way is by disputing them with one of the 3 main credit bureaus (Equifax, Trans Union and Experian) that are reporting them.

You can also contact the collection agency directly and try to…

According to the Federal Reserve the lending to small business those companies with under 50 million in annual sales is getting easier for the first time since the latter part of 2006. The big banks and financial institutions are loosening the purse strings but smaller banks are still locked down and it can be very difficult to obtain small commercial financing.

The divide between lenders and borrowers is a huge blockade to help the economy recover mostly because of the new definitions of what is considered “creditworthy”.  A good creditworthy small business just a few years ago can now be considered high  risk and no longer a candidate for financing that would insure or help the growth of that company.

We are living in crazy times!

There appears to be an over abundance of homeowners on the horizon that are looking to “buy and bail”. Talking with many mortgage brokers the trend seems be be on the rise as they are experiencing more calls from prospective homeowners looking to finance a new home so they can dump their current property to buy a new one that in many cases is more home for less dollars.

This is the one of the newest trends that mortgage lenders are being watchful of as the trend continues even though Fannie Mae and Freddie Mac have pulled out all stops trying to tighten down the noose on many would be homeowners according to Meg Burns, senior associate director for congressional affairs and communications at the Federal Housing Finance Agency.

The Reality…