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Blog entries tagged with "fico score":
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A FICO score is a credit score developed by Fair Isaac & Co. Credit scoring is a method of determining the likelihood that credit users will pay their bills. A credit score attempts to condense a borrowers credit history into a single number. FICO and the credit bureaus do not reveal … (0 comments)
You have priced your home to perfection. You have banished all the extraneous "junk." You have hired a stager so that your home shows like a model.
Gosh, this is really going to be one of these days... Here's the story (and it's all true). After years of resistance I finally made a break and won him over. He never really liked to work with realtors but somehow got to like me (it only took me six years … (3 comments)
The recent financial trends have not been encouraging for those who have bad credit or little credit. The rise in foreclosures, the steady climb in inflation that outstrip the rise in wages, the astronomical increase in gas prices all combine to make several of us think of our financial situation and … (0 comments)
If your Orange County home is being threatened by Foreclosure there are other options to walking away. 
FTHer Series - 9. Paying off DebtI've mentioned MANY times how important your FICO score is to obtain the best loan for your first home. It really is up to you to correct errors in your financial past and get rid of debt you have now. Perhaps you need a little … (0 comments)
Tell me how this sounds to you? Your child turns twenty one years old and you've always taught them to be responsible in all things. To ensure that they are responsible when drinking, you teach them to go out and start drinking. When they start to get tipsy, they should stop. … (6 comments)
Tips for Credit Improvement and Repair (Real Estate Broker in Northridge, CA)
Probably the most obvious and also the most important is always pay on time. Keep in mind that once you are more than 30 days late on a credit account, there will be a derogatory on the credit … (6 comments)
Recently, I was doing a refinance for a realtor who didn't have a clue what their score was. I found this hard to believe coming from a well respected agent in our industry. Especially since ther eis so much idenitity theft going on. I personally had 4 utlility accounts opened in my name … (3 comments)
1. Probably the most obvious and also the most important is always pay on time. Keep in mind that once you are more than 30 days late on a credit account, there will be a derogatory on the credit report.2. Have a variety of credit types extended to you. For example, … (0 comments)
If you are thinking about shopping for a new home, be sure to check out your credit score. In the past a 720 could get you the best rates available, but not anymore. The bar has now been raised to 750 or higher. You can take steps to improve your score, … (0 comments)
As a marketing person I am constantly involved in research to find the best resources and the best information to help me reach the next customer at the moment (or just before) they realize they will want help with a mortgage in my case for purchases or refinancing.
One of the … (0 comments)
According to a recent article, Credit-Rating Clout featured on Forbes.com people have become increasingingly dependent on credit, however, few people know how credit ratings or credit scores are determined. This information is crucial to the debter though, because a difference in credit rating makes all the difference when purchasing a home. … (0 comments)
In my opinion, 2008 will be an awesome year for first-time home buyers and buyers generally. A basic understanding of your "FICO" or credit score, and how to make it the best possible score is becoming increasingly important because of the turbulence in the lending market. Gone are the days when … (0 comments)
Recently read an article about what a buyer needs to know to get a loan. In this article I learned the components of your FICO. I thought that other members of ActiveRain might be interested in this information.The components of a FICO Score:Payment history - 35 percentAmounts owed - 30 percentLength … (0 comments)
When a consumer applies for credit, most businesses such as auto dealers or mortgage companies can quickly and easily retrieve a suprisingly large amount of personal data.Basically, a government license gives the three big repositories the authority to gather more personal information than the public should feel comfortable with. Recently, there … (2 comments)
In the first installment of this series, How to Understand and Improve Your Credit Score - Part 1, I gave an overview of how credit is looked at when applying for a mortgage. The second installment covered the factors that make up your Fico scores, one of the biggest issues in qualifying for … (5 comments)
You may have heard and read a lot about the (U.S. Version) of the FICO Score and how it will impact your credit. Outlined below are the details unique to Canadian borrowers and how you can improve your score and in turn save yourself thousands of dollars in interest charges. The credit score, also referred to as … (2 comments)
....Interest Rate and Monthly Payment Example: $150K loan borrowedYour FICO Score / Your Interest / Your Mo Payment720-850 5.72% $872700-719 5.84% $884675-699 6.38% … (5 comments)
I read this this morning and thought it was rather helpful to pass along. Question: How do I increase my FICO score within the next 6-10 months and is there a reputable agency that can work on my behalf? I would like to purchase a home early next year. I know … (1 comments)
In my last post, I talked about how your credit score is determined and how you can check your current FICO (credit) score. So is your credit score really that important? The answer is a resounding “Yes!” Many people don’t realize how much their credit score affects so many different … (0 comments)
How to stop the phone ringing from Unwanted TelemarketersHaving credit checked is an important and necessary step in the home-buying process, as well as something that is done on a regular basis for any number of reasons -- applying for insurance or buying a car. But very few people realize that … (14 comments)
A good credit score translates into lower interest rates for home−shopping borrowers. In 
One more Short Sale question: Do you have experience in re-negotiating a short sale amount for a short term loan?I know that if the difference between a mortgage amount and the sale price is too large, some lenders will not cover the full amount but will provide a borrower with an … (0 comments)
I had reported in a previous post, Is Your FICO Score Being Sabataged ? Find Out! that some of the major card companies ( not specifically mentioned) were withholding the approval limits on its card holders and thus causing the FICO scores to be reduced.
I went to a meeting yesterday about what's going on the mortgage world and how to protect our clients, and ourselves. Here are a few of the things that I learned, in no particular order:
Realtors - here is an important post for all of your new clients who are wondering about what they qualify for in today's market and past customers wondering about their adjustable rate mortgages. This is part 1 of a 5 part series. 
If you are positioning yourself to purchase a home or refinance, here are some quick tips to increase your credit rating once you have obtained a copy of your credit report:
It used to be that authorized users on a credit card account were allowed to "piggyback" on the cardholder's rating. If that cardholder had great credit, the authorized user's credit score got a modest bump as well.
Buying a home is one of the biggest expenditures most people will make in a lifetime. And in many markets where sellers are offering attractive incentives to buy your next dream home, a first-time buyer can be intimidated by the whole decision making process. As important as this life-changing, buying … (0 comments)
The highest-possible FICO score is 850, but even people with the best credit don't usually exceed 825. Those last 25 points wouldn't save you money on a loan anyway.By Bankrate.com You're one of the lucky ones in the financial pecking order: Your credit score is high. Really high. But what if … (4 comments)
Did you know that for as little as $25 a credit bureau can buy your personal information after you apply for credit? When you apply for a loan, you are required to fill out an application with personal information including name, address, and phone number. Based on the information you supply, … (2 comments)
Credit scores range between 200 and 800. Scores above 620 are considered desirable for obtaining a mortgage. These factors will affect your score.1. Your payment history. Whether you paid credit card obligations on time.2. How much you owe. Owing a great deal of money on numerous accounts can indicate that youare … (0 comments)
In my monthly newsletter that I send to my clients, my featured article this month is on how to improve your credit score. This is an important issue to me, because I don't feel that there is enough information and education out there when it comes to understanding your credit and what … (40 comments)
Here is a tip I heard from a financial advisor. I have not tried this personally so I cannot guarantee the success, but it makes sense and seems worth trying!
In Part 1, we talked about the financial half of deciding how much house you can afford. But how happy you are after buying the house depends on how well you balance the financial of your decision with the psychological ones. Is More Really Better?Hugh Chou writes an excellent article, "How … (1 comments)
If your FICO score is at least 720 -- the national median -- there's no need to go overboard futzing with it. You already qualify for the best interest rates. But if you're below that, it's a different story. A small increase in your score can make a huge difference to … (0 comments)
This subject matter is probably the most common or frequent question I receive from borrower's and even Realtors. As such, I believe it is important to dispel certain myths about the negative impact of credit inquiries on the credit scores contained in each consumer's credit file by providing you with information, … (5 comments)
Did you know that many credit rating files contain inaccuracies that can affect your credit rating? With the threat of identity theft, the possibility of data sneaking in from a file of someone with a name similar to yours, and creditor reporting errors, it’s a good idea to keep an eye … (1 comments)