Discussing How Foreclosure Affects Your Credit Report

bankruptcy credit report Whether you’ve foreclosed or opted for a short sale, your credit report can show a poor score of as low as 380 ... Credit Counseling Service. “They’re going look at a foreclosure more seriously than ... , as you can steadily improve your credit score over the next few years by taking a few measured steps [more...]

Date: 2009-01-08 04:06:14

Blog posts (21) | Videos (22)
 

Your Credit Score is Costing you Money

by Rob Kosberg There is a mystery among us. It’s called a CREDIT SCORE and is something that many of us don’t understand and may not even know ... credit risk,” we need to repair our credit. It is possible that some of us are in for a surprise ... aware that that a “low” score will result in difficulty obtaining a mortgage, credit card, and car [more...]

Date: 2009-01-15 09:32:20

Senators: credit scores shouldn’t determine insurance rates.

A person’s financial history should not determine how much they pay for auto insurance, say three south central Senators. “If you have a low credit score you pay a higher amount,” said Sen. Oletha Faust-Goudeau ... it so insurance companies could set premiums based on credit scores. She is co-sponsoring the measure [more...]

Date: 2009-01-15 23:01:51

Fix Bad Credit

by John Cooper If you have a low credit score contrary to popular belief you do not have to just wait seven years for your credit report to ... has received some form of payment. For example with a charged off credit card account the debt has been sold to a collection agency, and the lender has no need to save any record of your account [more...]

Date: 2008-12-24 10:55:40

What Brought Us to the Brink of Disaster Shall Be Repeated

What Brought Us to the Brink of Disaster Shall Be Repeated Posted by Karen DeCoster at 02:14 PM Hurry to your local GM dealer, ... for you -- and said it would extend credit to buyers with credit scores as low as 621 -- right on the edge of subprime territory. The median credit rating is 723. This is from the Wall Street Journal. I heard [more...]

Date: 2009-01-01 20:14:57

HOUSING PUSH FOR HISPANICS SPAWNS WAVE OF FORECLOSURES

For years, immigrants to the U.S. have viewed buying a home as the ultimate benchmark of success ... loans, which carry high interest rates and are tailored to borrowers with low credit scores or few ... multiple cash jobs, but had no savings or established credit history to allow them to qualify [more...]

Date: 2009-01-06 13:19:54

Checking Your Credit Score

Most people don’t know their credit score. What does that mean? ... on your pay habits and the amount of debt you have. Paying your bills on time, keeping balances low on revolving debt and avoiding excessive inquiries can really help improve your credit score [more...]

Date: 2008-12-23 11:58:12

How Millions of American Will Lose Their Homes

Posted By: admin| 2009.09.29 The Option ARM crisis has not hit yet. The Option ARM is not a Sub Prime loan!! People with good credit scores and low income have this too. Reckless home purchases and refinances with no long-term goal. **Please note – 61 was assumed to be interest-only payment for this video at 00:15 seconds…so, it should of been 8% fully indexed rate instead of 7%. Doesn’t change much, just that one slide…I caught it too late. [more...]

Date: 2009-09-29 11:11:22

Credit Repair After Bankruptcy

by Matt Douglas If you have a bankruptcy on your credit report you probably feel like there is no way to escape a low score ... a new revolving line of credit such as a credit card. This will help you build some positive credit ... of available credit to debt. It may not be the most ethical [more...]

Date: 2009-01-07 23:54:48

Are greedy wolves making government-insured mortgages?

Now that subprime is a dirty word and Wall Street firms are no longer making securities backed by loans to people with low credit scores, brokers and bankers are filling the void with a little help from Uncle Sam. They are making loans ... FHA, which is meant to expand credit to folks of modest means? John Courson, president of industry [more...]

Date: 2009-01-15 11:00:45

What's going on with GMAC's car loan standards?

Filed under: TransportationFlush with capital from taxpayers, GMAC is lowering its underwriting standards ... loans up to 700. Now credit scores as low as 621 will qualify for some form of GMAC finanncing ... to Equifax, this is an approximate breakdown of Americans' credit scores; 15% of the U.S. population [more...]

Date: 2009-01-02 23:00:00

Recent Bankruptcy? It’s Not Impossible to Obtain a Home Loan

Because the new bankruptcy laws go into effect on October 17, 2005, more Americans than ever are filing for relief using the federal bankruptcy laws ... discharge. Ironically, some those that would not previously qualify for a mortgage do qualify after ... payments. The DTI* (debt-to-income) ratio of this person is 81.25%. Since his credit score is low [more...]

Date: 2009-01-15 00:11:26

Wednesday freebies: Your Eco-Friendly Home

A twice-weekly sharing of eco-shwag. Today’s giveawy is a copy of Your Eco-Friendly Home: Buying, Building, Remodeling Green by Sid Davis. From my review for Low Impact Living: This guide gives you all the general home building, buying or renovating information you need, be it the low down on mortgages, credit scores, or contracting [more...]

Date: 2009-01-14 15:00:31

The Lending Lunacy Continues as GMAC Gives Out More Bad Loans

This past week the Treasury used $5 billion of funds from the Troubled Asset Relief Program ((TARP)) to purchase senior preferred equity in GMAC, the financing arm of General Motors (GM). GMAC reacted immediately to deploy the funds by lending to new car buyers with credit scores as low as 621 [more...]

Date: 2009-01-01 11:02:24

Confessions of a Subprime Lender by Richard Bitner

Title: Confessions of a Subprime Lender Author: Richard Bitner Publisher: John Wiley & Sons Books (2008) Here’s why the mortgage mess happened: If you had a Target credit card with a $100 maximum ... had a credit score of 580 (considered very low) you qualified for 100% financing! 100% financing [more...]

Date: 2009-01-15 11:00:32

Latest News in Credit Repair and Credit Score - Oct 8, 2008

Thumbs up for FICO revision - Baltimore Sun 2 Oct 2008 at 9:17pm F air Isaac Corp ... by the foreclosure wave. Two years ago, a 620 FICO score was … Ulzheimer: Why the ‘Debt Settlement’ Business ... companies offering to cut your debt in half and make one low monthly payment. If you are … Credit Crunch [more...]

Date: 2008-10-08 15:27:58

Mortgage Rates are at 50 year lows!

Mortgage markets improved last week for the second week in row ... : * Credit scores of at least 720 * At least 20 percent equity * Relatively low debt versus ... Forums Discuss real estate, network, or learn about investing on our forums! This Article [more...]

Date: 2008-12-22 17:33:40

Good Time To Ask About Refinancing Your Mortgage: I Might Save $50,000!

With the rate drop yesterday, mortgage rates are at amazing lows. People in the office are bragging about locking in 4 ... that you’ll be holding the loan longer than that. Here are two breakeven calculators: one and two ... . (Especially if you have a good credit score and a loan-to-value ratio below 90%.) My favorite source [more...]

Date: 2008-12-18 11:53:02

Best Refinance Mortgage Rates - Ways to Qualify for a Low Refi Rate

Obtaining a low rate is a top concern for many homeowners who choose to refinance their existing mortgage ... payments, judgments, and high debt to income ratio are damaging to your credit score [more...]

Date: 2009-01-15 04:45:36

Best Student Credit Cards

Best Student Credit Cards by jim on December 27, 2008 With the new FICO score rules removing the impact of piggybacking, ... cards are that the limits are low but you can still fall very deep into debt. Only spend that which [more...]

Date: 2008-12-27 17:09:34

Easy No Credit Check Loans

September 20, 2009 | By Preston West In Blogging | For those people with low credit scores or low wages, “No Credit Loans”, are an excellent alternative. Although this loan is linked with much higher interest rates it is an option for those with few choices. Because the loans are usually paid back over a shorter amount of time the huge interest rate may not be a deterrent to borrowing funds. For people that need quick cash for a short term, this could be ideal. [more...]

Date: 2009-09-20 22:50:50

21 Results