Mortgages Safer But Harder to Get Now that Senate and House negotiators have reached a compromise on new financial regulations, we know what will happen to the mortgage industry if the bill passes and how it will impact your ability to buy a house. Those freewheeling days of no-money-down, liar loans are dead. Instead you’ll […]
Closing on a Home? Don’t Do These Things
Closing on a Home? Don’t Do These Things It’s a great time to buy a home. With the real estate crash, prices are way down and mortgage rates have never been lower. But if you are not careful, a new rule recently enacted by Fannie Mae could end your homeownership dreams. Effective June 1, Fannie […]
Building the Perfect Credit History
Building the Perfect Credit History Here are some ways to build up that “Perfect Credit History”… Have questions about building good credit? Use the comment link below to contact us and we’ll get you the answers you need.
Free Credit Scores Possible at Key Times
Free Credit Scores Possible at Key Times The U.S. Senate’s approval of a far-reaching financial regulatory bill carries great news for consumers in an increasingly credit-sensitive world. Contained in the bill is a requirement that companies provide you with the credit score they used to deny you credit, impose a higher interest rate on your […]
Myths About Credit Scores
Myths About Credit Scores A reader sent us a question about their credit score, wanting to know why it was lower than they thought it should be and what they could do to bring it up, so I thought I’d answer this reader’s question here for anyone else who may have the same question about […]
How Foreclosure Affects Your Credit Score
How Foreclosure Affects Your Credit Score If you’re delinquent on your mortgage, your credit score will suffer. Everyone knows that. The question is, by how much? Recently, Fair Isaac, which developed FICO scores, pulled back the curtain a bit, revealing some estimates of point-score declines following mortgage delinquency problems. Here are the average hits your […]
How To Get a Perfect Credit Score
How To Get a Perfect Credit Score How is your FICO score these days? Good? Fair? Near perfect? Pursuit of excellence is often wise, but does ‘perfect score’ even exist? Yes, according to Craig Watts, public affairs director for FICO. “Several thousand consumers do in fact have the highest possible FICO score.” While not everyone […]
New Proposals to Protect Homeowners
New Proposals to Protect Homeowners The federal government is proposing new steps to try to protect people who may be struggling with their mortgage payments. According to a recent announcement from the Federal Trade Commission, it has proposed a rule that would prohibit companies from charging up-front fees for mortgage modification services. Under the proposal, […]
Common Mistakes That Affect Your Credit Score
Common Mistakes That Affect Your Credit Score Find out how many points your credit score will drop if you make one of these common mistakes. If you have questions or comments about this video on credit scores, use the comment link below to contact us. Your email address will never appear on our site.