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credit: 5 Factors That Decide Your Credit Score! - 12/04/09 02:34 PM
Greg Olson, REMAX Suburban
  
5 Factors That Decide Your Credit ScoreCredit scores range between 200 and 800, with scores above 620 considered desirable for obtaining a mortgage. The following factors affect your score:1. Your payment history. Did you pay your credit card obligations on time? If they were late, then how late? Bankruptcy filing, liens, and collection activity also impact your history.
2. How much you owe.  If you owe a great deal of money on numerous accounts, it can indicate that you are overextended. However, it's a good thing if you have a good proportion of balances to … (1 comments)

credit: Top Tips to Improve your Credit! - 11/17/09 06:29 AM
1. Review your current credit report for accuracy. Everyone is entitled to one free credit report per year from each of the three credit bureaus-Experian, Equifax, and TransUnion. Get a copy of your credit report and look at it for accuracy. First, make sure that the information in your file is about you and only you, not someone who has a similar name or a similar Social Security number. It is very common for your credit reports to have mistakes or incorrect information. At a minimum, make sure that the information you are being evaluated on is current and correct.
2. … (6 comments)

credit: Updated Investor Rules! - 02/24/09 09:50 AM
NEW INVESTOR RULES  
Beginning March 1, 2009, Fannie Mae is increasing the number of investment properties a borrower can have back to 10, as long as they meet the following requirements:  
The minimum credit score is 720  
One unit purchases require 25% down payment  
One-four unit limited cash-out and 2-4 unit purchases require 30% down payment  
No Bankruptcies or Foreclosures for 7 years  
No mortgage delinquencies within last 12 months  
Rental income will be verified from last 2 years Federal tax returns  
6 months reserves will be required on each investment property as well as … (0 comments)

credit: Simple Explanation of the New $8,000 Home Buyers Tax Credit! - 02/24/09 09:43 AM

$8,000 For Homebuyers  
First-time buyers (someone who has not owned a home in the past 3 years) can claim a credit worth $8,000 - or 10% of the home's value, whichever is less. 
They can claim this credit on their 2008 or 2009 taxes. 
The purchase must be completed between Jan. 1 and Dec. 1, 2009. 
Buyer must live in the home for at least 3 years or they will be obligated to pay back the credit. 
Buyers must meet the income restriction of $75,000 for singles or $150,000 for couples. 
Applying for the credit is easy.  Just claim it … (0 comments)

credit: 7 Common Credit Report Mistakes! - 01/28/09 05:05 PM
7 Common Credit Report Mistakes
Consumers see the ads in the newspaper and read the signs nailed to telephone poles: "Credit problems? We erase bad debt." It sounds so easy. Just call the phone number and pay a fee, and your credit woes will disappear.
 
The reality is that bad credit does not vanish by paying someone to remove it. Are there legitimate credit repair organizations out there? Sure, and they can help remove inaccurate information from credit reports. But even they can't get rid of correct information, however damaging it may be.
 
When it comes to outright mistakes … (0 comments)

 

Gregory Olson

Streamwood, IL

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REMAX Suburban

Office Phone: (847) 577-9797

Cell Phone: (847) 977-7024

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