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What a Week.

By Scott Swinford

Mortgage and Lending with Hancock Mortgage Partners NMLS# 138422

February 08, 2008 04:58 PM

It's been a crazy week. I haven't gotten much done the last couple days, so I am working nights..... I had a sick munchkin (my two-year old), so I have been Mr. Mom lately. Not that it is necessarily bad, it just keeps me up late finishing things in the office.

I can hear it now..... Scott, that doesn't affect me so who cares. Don't feel bad, as I'd say the same thing (just not very loudly, 'cuz I want you to feel special). ;)

I'm rambling!

Anyway, one of the things that I have been working diligently on is a new blog called "What Is A Good Credit Score (And How Do I Get One)?". It is a work in progress, but the basic idea is to educate the average consumer about credit in a relaxed, easy-going way. Some sarcasm included.

If you get a chance, I would love to have a few (or a lot) of you check out the site and tell me what you think. Feel free to be honest and make suggestions as to what questions you have that should be answered. I would like it to be a reference source once it's done.

You can view it here.

Also, and I know it's kinda late notice, but Scott Bilker, founder of http://www.debtsmart.com/ and author of several books is going to be on my radio show on Saturday, February 9. This should be a great interview, as Scott is incredible. I have read his book, "Talk Your Way Out of Credit Card Debt" and used some of the tips and techniques in it. I can honestly say that I have saved THOUSANDS of dollars for just a couple hours work. The show is on at 11:30 est. at http://www.wimsradio.com/. Click on the Listen Live area on the top right of the screen. If you miss it, it will be released as a podcast in a couple weeks.

Have a great weekend and don't forget to comment on my site.

Scott

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Libby Cousins

Extraordinary Processing - Spokane, WA

Contract Mortgage Processor, licensed in WA

Scott, that was very well written and informative. You mentioned that you can "piggy-back" as an authorized user on someone's card but that it is ending soon. I thought that was supposed to end last September. Is it still being counted? When that goes away, there will be a few "credit repair"companies that I have heard of that won't be able to continue doing business as they have been. I think that is good though, you shouldn't be able to buy a good credit score, it is something that most of us had to earn!

Feb 08, 2008 05:10 PM

Scott Swinford

Hancock Mortgage Partners - Crown Point, IN

The benefit of Authorized User status is due to end when FICO releases their next generation software. Although it was supposed to be released last fall, it is tentatively due to be out late spring or early summer from what I understand.

It sounds like they have had a few issues with the program, but most of the problem is public relations. Many people's scores could go down if they are relying on AU status to assist them. Not just the people who purchased them, but wifes on their husband's cards and kids that use their parent's cards.

As with anything, there is apprehension and, as a rule, people are resistant to change. It's gonna happen and it's gonna be a thorn in our side for a while until we "figure it out".

Feb 09, 2008 12:31 AM

What a Week.

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