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credit: So You Make More Money Now - Why Doesn't Your Credit Score Go Up? - 08/12/08 04:09 PM
Simply put, your income does not affect your credit score.  Whether you make 30k per year or 200K - you may share the same scores.
So that opens up the question - "What are the factors that affect my score?"
Here they are:
35% is based on your payment history for both old and new accounts. 30% is based on the amount you owe.  High balances are a negative in the eyes of a credit bureau.  As a rule of thumb, add up all of your 'limits' for your credit cards and compare the total to the total of your balances.  … (1 comments)

credit: 2 Year Adjustable Mortgage Getting the Boot? - 07/18/07 05:02 PM
Is this the start of a trend?
My inbox is full today - mostly with subprime lending news.  Do to market conditions, lenders are starting to drop their 2 year adjustable programs and extending them to at least three years.
I have heard many different reasons.  Lack of profit, lack of time to build equity, etc.  Really it's simple.  Why would a lender want a loan that can't be sold on the secondary market?
Here is the article:
http://blownmortgage.com/2007/07/16/option-one-eliminates-the-228-subprime-arm-loan/
This just shows one lender.  I have a short list I could add to it as well.
Take a quick look and leave some comments.  I really don't see … (3 comments)

 
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Kevin Nelson MLO-121548

Wenatchee, WA

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Mortgage Advisory Group CL-36130

Address: 1250 North Wenatchee Avenue Suite G, Wenatchee, WA, 98801

Office Phone: (509) 860-7197

Cell Phone: (509) 860-7197

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