There will be a new revised FICO formula, where your credit card balances will matter more and little missteps will be less important.  The information on the new FICO scoring can be found in an MSN Money  article by Liz Pullam Weston

TransUnion will be offering the new score to lenders in late January, Equifax in the spring, according to Craig Watts, a Fair Isaac spokesman and experian has not stated when it will offer the score.

Fair Isaac says the new score will better a better predictor of defaults than the classic FICO.

The dropping of a credit line amount may send your scores downward  even if there is no balance.

If you have only a few open, active accounts, more credit card issuers are closing unused, unprofitable accounts, which raises the chance of a lower score.

Some beneficial area are that unpaid debts of $100 or less will be ignored, less punishment for setbacks  such as a charge-off or repossession, if the other active accounts are in good standing and authorized credit lines will not be dropped.

This article had facts that were worth remembering.  As realtors we need to keep up on the information that affects our clients and ourselves.