Members: 102,594 -
2,615 Online Now
|
|||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
|
Blog entries tagged with "credit score":
|
|||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
|
Disclaimer: ActiveRain Corp. does not necessarily endorse the real estate agents, loan officers
and brokers listed on this site. These real estate profiles, blogs and
blog entries are provided here as a courtesy to
our visitors to help them make an informed decision when buying or selling a house. ActiveRain
Corp. takes no responsibility for the content in these profiles, that are written by the members
of this community.
© 2007 ActiveRain Corp. All Rights Reserved 
|
|||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Excerpt from "Credit Justice: Are Your Credit Scores Treating You Fairly?", by Daniel J. Poulos
"One big factor that's changed mortgage lending is widespread use of automated underwriting software, which is required for lenders to be able to sell loans on the secondary mortgage market. This software takes certain things into account, like credit scores, that weren't considered before." - Mark Steele, President of Howard Hanna … (0 comments)
Summary: A self-employed first time home buyer asks for advice. The first time home buyer has a great credit score but no money for a down payment. Many non-profit programs that used to help with a down payment have gone away. What options does the first time home buyer have without … (0 comments)
Your payment history accounts for 35% of your credit score according to Fair Isaac. The most common advice you will hear from every so called "credit expert" is make your payments on time. While this is the basics of building and maintaining a good credit score let's go way beyond that.
In today's market, where daily changes are normal and expected, it is necessary for buyers to understand what it takes to buy a home. There are at least ten things you must know in order to be a knowledgeable buyer. Here are the first five of those ten things. The next five will be included in … (0 comments)
The difference between a credit report with a score of 700 and a credit report with a score of 580 could result in a payment of $300 per month or more when purchasing a home of $500,000 or more. If you are like me, then you are undoubtedly curious about how … (1 comments)
Scoring your Credit - How's your FICO?
Topics in The Zoller Group's monthly real estate newsletter, REALTY NEWS UPDATE, include the following:
All of these new Credit Repair Companies are coming in like a swarm of Sharks! Noting that this is the next new huge profit making opportunity. Likely you are being marketed to as well. Watch out, the FTC has strict guidelines and laws governing these companies. I will tell you what … (7 comments)
The lending industry is tightening and credit scores are making a BIG difference. Interest rates are higher for anyone with scores under 740.... yes you read it right 740. Some lenders are making rate adjustments for anyone under 740. Let's dig deeper, the buyer with less than 20% down can get … (8 comments)
All you need is 3 alternate tradelines such as phone bills, rent receipts or any type of bill in your name showing that you have paid on time in the past 12 months. Its better than having bad credit. I am a realtor and also work with a direct Bank. It … (0 comments)
I had been talking with one of my lenders the other day about ways to help my clients improve their credit scores and he shared with me something that I thought was a great for everyone to use.
I researched Lawrence Kansas area Property Investment Clubs to see who had Lawrence Kansas Real Estate Investment meetings and found that there just weren't any that met any more (one listing was found but they disbanded). 
Here is a little advice for anyone looking to get a copy of the credit report before they start the whole application process.
Buyers and potential buyers: You need to know that you can get free access to credit reports as part of a settlement on a class action lawsuit against TransUnion, one of the 3 major credit reporting agencies.
How Is Your FICO?
When does credit repair cross the ethical line and become falsification of a credit report?
Mortgage by Randy
"Too many consumers still don't get it when it comes to credit scores." Source: Credit Scores Remain Misunderstood by Broderick Perkins.
Your credit score is comprised of:
Credit repair is a million dollar industry with a lot of scams. Finding
a loan with poor credit isn't hard, getting a decent interest rate can
be. When you clean up your credit
report you end up saving hundreds, if
not thousands, of dollars in interest charges. 
FHA allows buyers with scores below 700 to purchase homes. In the current mortgage credit crunch, FHA may be the best bet for first-time home buyers. First-time home buyers are defined as anyone who has not owned a personal residence in the last three years.
Originally posted at www.StCloudEdina.com/blog:
Building Your Credibility
There is nothing that can underestimate the value of a good credit score. Whether you are buying a home for the first time or considering borrowing money for any given reason, your credit score is very important and plays a key role in determining whether or not you … (0 comments)
There are five factors that comprise your credit score. They are listed below in order of importance, just as an underwriter would look at the score:
With lending criteria tightening up, and more lenders in the non-conforming arena going out of business, understanding your credit score is more important than ever. So what is your credit score based on?
Hi all,
If you or one of your clients need to bump up a credit score easily and QUICKLY...go to www.optoutorescreen.com and sign up to stop receiving credit card apps and junk mail via snail mail. It ALSO helps the Environment with less junk mail!
Every time you get … (8 comments)
Do you know your Credit Score?
What is all this about Credit Scores??
By Doug Crowe www.dougcrowe.com
… (0 comments)
Effective this month, FHA mortgage insurance becomes risk based. There are changes to both the upfront mortgage insurance premium (UFMIP) and the yearly (paid monthly) premium. That means that the higher the loan to value and the lower the credit the higher the premium is. At the same time, the lower … (0 comments)
In a mortgage lender's eyes, a good credit score translates into lower interest rates for home-shopping borrowers. The higher your score is, the less risk you are, and the more likely it is you will pay off your debt. For this reason, borrowers with lower scores usually end up paying higher … (0 comments)
One of the things I run in to a lot when it comes to fixing peoples credit is that they get paid only once a month. That may be on the 5th of the month, yet their credit card bills come on the 20th and are due on the 3rd of … (1 comments)
For this and other GREAT blog posts, please view our real estate BLOG at www.DaytonsDirt.com.
Whats My Credit Score ?? What is a Credit Score ?
A credit score is a numerical expression based on a statistical analysis of a person's credit files, to represent the credit worthiness of that person, which is the perceived likelihood that the person will pay debts in a timely manner. … (0 comments)
Atlanta Real Estate - Buying a Home
Thinking of buying your first (or 2nd or 3rd) home?
To ensure that you are able to take advantage of the best and lowest interest rates available, I highly recommend that you take the following steps to ensure that your credit report is accurate … (1 comments)
5 Common First-Time Home Buyer Mistakes1. They don't ask enough questions of their lender and end up missing out on the best deal.2. They don't act quickly enough to make a decision and someone else buys the house. 3. They don't find the right agent who's willing to help them through … (0 comments)
The Three Biggest Mistakes People Make When Purchasing or Refinancing a Home
Most of my current and prospective clients are concerned about our economy in general and "myconomy" in particular. They have heard all the bad news and some of the good. They watch as gas prices dig deeper and deeper into their pockets, and they wonder if now is the right … (0 comments)
Obtaining Credit Information and Correcting Errors
HUD's Federal Housing Administration (FHA) has issued final guidance that will expand its program to help more homeowners and homebuyers obtain affordable financing. To protect taxpayers from the cost of this expansion, the FHA will implement a new risk-based pricing structure beginning July 14, 2008.
Fair Isac Corporation (FICO) has tweaked the formula they use in their widely used and popular credit score model known as FICO. These changes took place in March of 2008.
Hiring Talent with Bad Credit - Would You Do It?by Lisa Wells
… (10 comments)
The Real Place to Go for 
The importance of good credit is a fact of life. Banks and credit card companies decide whether to lend you money and what interest rates you will pay based on your credit score. Be prepared to examine past choices and, if necessary, to change your money habits.
Decisions you make … (0 comments)
What You Need to Know About Your Credit (FICO) Score
What You Don't Know About Your FICO Score Can Cost You Money
It's important to obtain copies of your credit report from the three major credit bureaus and review them for accuracy, but if you want to know how a potential … (2 comments)
Over the past decade, consumer advocates have worked hard to help consumers better understand what credit is and how to handle it in order to improve their credit positions.A recent quiz on credit, released by Credit Plus, a Maryland-based credit services firm, can help consumers better understand other issues that can … (1 comments)
A multi-headed debt monster has been unleashed, I'm sorry to say this beast has arisen with a ravenous appetite. The use of debt is and will always be an important instrument for consumers to understand and use properly, however, in recent years this country has experienced an explosion in the amount … (0 comments)
So you think you’re ready for your own piece of the American dream – ready to have a place you can call your own? Maybe you’ve had it with the noisy people in the apartment above you. Or maybe you’re tired of writing out rent checks month after month and you … (0 comments)
In recent weeks, mortgages quietly became harder to get. Mortgage insurers require higher credit scores and bigger down payments than they did a month or two ago. Underwriting software used by brokers and loan officers is issuing fewer approvals than at the end of May.
Most buyers can still get home … (1 comments)
My first floor duty last October brought in a rental client. Thus began a long relationship with the Housing Opportunities Commission (used to be called Section 8). The renter reported that she had a voucher that paid a certain amount of her rent but she had problematic credit. Who would care, … (7 comments)
Credit scoring is becoming more important to mortgage pricing so now would be a terrific time to brush up on your credit education.
If you understand how the system works, after all, you can make it work to your advantage.
One terrific place to start your research is at myFICO.com. Published … (0 comments)
The concept of credit started back in 1956 with two men named Bill Fair and Earl Isaac. Fair, a mathematician, and Isaac, an engineer, founded the Fair Isaac Company; otherwise, known to us today, as the FICO score. This credit system has standardized the way the financial industry extends "credit".
Buying a home is one of life's most exciting times and it is one of the biggest personal investments a person will ever make so why not get better prepared? The more prepared you are in the beginning, the less overwhelmed you will be. Learn the steps in the home buying … (0 comments)
For years, the Veterans Administration has allowed "Jumbo" VA loans; it's just that hardly anyone knew about them. The current VA loan limit with zero down, is $417,000, matching the conforming loan limits set by Fannie Mae and Freddie Mac. But the VA does make allowances for VA loans above that … (0 comments)
I actually have access to loans which are not based on your credit score.
Some loans require you to take classes with a local bank.
Some loans are only available for properties in certain census tracts.
These are offered in very limited quantities. Please call today - we can probably get … (0 comments)
This was sent to me by our TB&W Account Executive:
"FHA Introducing Risk-Based Pricing
The Federal Housing Administration will start charging upfront mortgage insurance premiums based on the borrower's credit score and downpayment starting July 14, according to the Department of Housing and Urban Development. Upfront premiums paid at closing will … (3 comments)
Hi Everyone,
Here is some more great information on credit repair. Yes, credit repair is possible if done correctly and you should not have to pay an attorney an excessive amount of fees to get it done. This has some tips on how to potentially boost your score by 50 points! … (1 comments)
Have you been told by another agent or a lender that you make a good salary but need more money down, or dont have the best credit and cant get financed. Well maybe if you are going through a conventional loan, but FHA rules and guidelines have changed greatly. If you … (4 comments)
Around Summer, 2005 I was at a pool party down in Orange County. It was at a close friends of my wife. My wife's friend has a cousin David, like her in age: mid 30's. He married his wife Shanna going on five years. They have two brilliantly beautiful kids Lilly … (1 comments)
We have been working with several clients who have had to do a short sale. We now have a very different situation. Our client got one of those select your payment and could only afford the lowest payments. Because of this her loan has increased above the current value of her … (8 comments)
Ok, so, you are single. Looking for nice, attractive, great sense of humor, intelligent, knows how to clean cat litter, or whatever!
Homeowner's Insurance and Your Credit History Unless you have recently purchased a home or refinanced the home you're currently living in, you may not be aware that insurance companies are now looking at credit scores. According to the Insurance Information Institute (a non-profit organization, www.iii.org), insurance companies have learned that a person's … (0 comments)
On average, Texas has the lowest credit score in the country. The score is a whopping 651 while the country has an average score of 692. What does this mean for Texas buyers? This means you're a higher risk and loan programs in Texas are different from other states. Look at … (9 comments)
I was recently in an mls meeting and one of the bankers said that a lot of people are paying bills other than their mortgage. Wow, that blew me away! Cell phone, credit card, somewhere to live... it seems pretty obvious what the choice should be. Another thing that surprised me … (0 comments)
Have you seen all those late night TV advertisements about obtaining your "FREE" credit report, yet when you call or go online the report is only "FREE" when you sign up for a credit monitoring service? Fear not there truly is a way to obtain a "FREE" copy of your … (0 comments)
At River City Real Estate we don't care if you've had foreclosures, bankruptcies, and a 404 credit score. Listen to our newest show to find out how you can buy a home.
2008 is going to be a tough year for many homeowners, particularly those in California. While not declining nearly as much there are also some trouble spots in Idaho (Coeur d'Alene area), and Washington (Seattle and Vancouver areas). After 20 years of relatively low interest rates and high home appreciation rates … (0 comments)
Credit Simulators.... Get your borrower on a Plan! Credit simulators are a great way to get your borrower on a plan that will raise their credit score. This will enable them to purchase a home, or re-fiance and save thousands of dollars in interest. You can see how much of a … (0 comments)
Want to learn more about your credit score, and what it means to you when it is time to buy a home? Check out my latest blog for an informative video about the imporance of your credit score and strategies to improve it.This is a great time to consider purchasing Montgomery … (0 comments)
Have you been sitting on the fence on whether to buy a house? Well, it is time to decide. The sub-prime mess spilled over to the prime market and now you need a credit score of 720 to get a par quote. It is now going to make a lot more … (3 comments)
Credit: what is defined as a "late payment". 
Trying to build back your credit score after you have dropped into the low 500's is a lot like trying to get your web site from the 10th page on Google to the first page. Both systems use an algorithm and both algorithms are more dynamic than static. If a person … (2 comments)
We have posted some of our clients results online Effective Credit Repair. 
How Are Scores Calculated?
Yesterday I offered 8 steps to help you build good credit. But I left out a few steps (on purpose, of course). One part of maintaining a good credit history is making sure that mistakes don’t appear on your reports.