Many people are concerned how their mortgage loan is affected if forced into a bankruptcy and when someone experiences financial crisis like job loss, medical crisis or business failure, it can become quite difficult for them to repay all of their existing loans or debts. Filing bankruptcy may seem to be a viable option in [...]
Is there anyway to understand the FICO scoring system? That is the hundred dollar question! The FICO score created by the Fair Isaac Company is one of the most shall I say “guarded” secrets at the credit bureau’s. So much so that even senior executives under oath, have sworn they do not fully understand the [...]
Today, I’d like to tell you what mortgage lenders look for in when deciding on granting your request for a new mortgage loan. Now this is not meant to be an underwriting class but a basic understanding of the process and what you’ll want to consider as you begin thinking about buying a new home. [...]
A discussion on a well guarded secret to keep your credit scores suppressed… One of our consultants popped in yesterday afternoon to drop off a deal (a good thing). He was telling me of a situation he ran into and wanted to know what kind of an effect it could have on his prospects credit [...]
I just got back from spending a few days in Savannah, GA for my wife’s birthday (I’m not suppose to tell you her age!!) But what a great town. We stayed at a Bed and Breakfast that was built back in 1862. There is so much history in that town, so much Civil war history [...]
This question came in recently from Janice and I started to send a reply to you but decided I’d address this in the blog for all to read. Janice, I thank you for sending in this question as many people wonder the same thing. Of course, you can insert foreclosure, tax lien, judgment, collections, slow [...]
In today’s market place there are three major credit bureaus: Equifax, Experian and Transunion. You’ll also find many smaller agencies that act as “affiliates” of one of the big 3 like CSC and CBCInnovis or others that service their local geographic area but have less than complete national coverage. There are other companies like ChoiceData [...]
That’s right I’ve held off and at times have been accused of being stubborn (of course that is just one woman’s opinion! ) but we can no longer wait nor deny that Facebook is right behind google for taking over the world! Ok ok, maybe yes and maybe no, but I do know this… that [...]
Really, the better question should be “How MUCH does bad credit cost you? In a word…TONS! Your FICO scores are determined by a number of things but most importantly how timely your credit is paid and the overall amount of credit used as compared to your credit lines available. Of course other factors come into [...]
Credit repair is absolutely boring, tedious, monotonous, tiresome, troublesome as well as down right infuriating! Oh, and did I mention you’d better be “Johnny on the spot” when it comes to follow up and knowing what the rules of engagement are when it comes to the credit bureaus! Are you having fun yet? I get [...]