credit repair sacramento: Will paying off/closing credit cards help or hurt your credit score?
- 10/26/13 11:35 PM
When it comes to managing your use of credit to keep a good score, one of the biggest sources of confusion is about closing tradelines. Many people have old or unused credit cards, bank cards, or other lines, and often inadvertently close or cancel them, thinking it will help their credit score. Most of the time they actually end up hurting their credit score. Let me explain why: First off, I completely understand people’s thinking when they close an unused or old credit card. Common sense would dictate they’re doing something financial responsible by paying a debt down to 0$ and closing it out, … (0 comments)
credit repair sacramento: Blue Water Credit rates "A" with the Better Business Bureau.
- 10/19/13 08:40 PM
A consumer has many options when they are interested in increasing their credit score. Unfortunately, not all of these options will result in the desired outcome. It can get downright scary for the average person who just Google "credit repair" or starts listening to every salesperson or blowhard Internet “expert." One is left wondering if legal, ethical, and effective credit repair even exists?
Whenever I’m looking for information on a financial service, or the companies who provide them, I start with one place: the Better Business Bureau. The BBB registers and monitors information about businesses, giving them a rating system, a means to … (0 comments)
There is a powerful new ally in the battle against online fraud and identity theft – social media. Even the credit bureaus are using this tool to research the credit-worthiness and validity of consumers, alongside companies like EBay, Paypal, and Intuit. Equifax and Experian are running trials to see if social media posts can help dissuade fraud, verify identities, and even see if consumers are lying about their financial situation.
Every day hundreds of millions, if not billions, of people use social media sites like Facebook, Pinterest, Twitter, etc. to share sensitive personal information through user profiles, public postings, and … (2 comments)
credit repair sacramento: Realtors and LO's – how short sales report can jumpstart your income!
- 07/17/13 09:50 PM
It’s estimated that almost 1.5 million homeowners have gone through a short sale in the last 5 years, yet many of those are reporting incorrectly on their credit reports as foreclosures. If you are a Realtor or loan officer, you should know that the difference between a short sale or a foreclosure reported on a credit report can cost a consumer valuable time, money, and delay their entry back into the housing market – and cost you a potential client.
How prevalent is the problem? Well consider that here in the Sacramento area more than 1 … (0 comments)
credit repair sacramento: What a Difference a Point Makes.
- 07/17/13 09:47 PM
Have you ever heard the song lyrics, “What a difference a day makes?” When it comes to your credit score, a few points can make a big difference in your finances. The average American has a credit score of 687 (as of 2011), but by raising it even a few points they can save big amounts of money. Here are 8 ways a higher credit score can save you big bucks!
Mortgage. A good credit score is fundamental to getting the best rates and terms on a home loan – or getting approved at all. Due to the way mortgage payments are spread out … (0 comments)
They’re reunited, and it feels so good…but we’re not talking about a Hollywood couple or your favorite estranged boy-band. Instead, this reunion is between Experian and FICO, far less sexy but probably more important financially to consumers.
A FICO score is calculated as a combination of three separate scoring systems, Equifax, TransUnion, and Experian. But since Feb 14, 2009, consumers were only able to view credit scores from the first two companies, not Experian.
It was that date Experian and Fico ended a partnership that started June of 2003, where consumers could access any of their … (0 comments)
Are you thinking about buying your first home? You’re not alone – this year it’s estimated that hundreds of thousands of people will take that big step into the American Dream and purchase their first home. That process can be at times confusing, overwhelming, and sometimes downright scary, but usually turns out to be the best (and happiest) investment you’ll ever make.
The good news is that there are ways to prepare for your first home purchase. It’s recommended you start planning and strategizing about 6-12 months before you are ready to sit in a realtor’s car and … (0 comments)
credit repair sacramento: 4 Factors That Make Up The True Cost of Your Home.
- 07/16/13 11:27 PM
They say that buying a home is the largest purchase you’ll make in your life, and yet most people don’t really understand what it is they are buying. Sure, we can look at the price tag of the house and know the dollar amount, but there’s a lot more that goes into the true cost. In fact, there are four factors that go into that true cost, which are: 1) price, 2) interest rate, 3) inventory, and 4) loan type. To truly ensure that you’re getting not only the best price on your home, but paying the lowest total cost, … (0 comments)
credit repair sacramento: 5 Tips to Choosing a Great Loan Officer for Your Next Home Purchase.
- 07/16/13 11:26 PM
Whether you are a first time homebuyer or a seasoned investor, working with the right loan officer can make all the difference between a wonderful experience and a colossal – and expensive - headache. With internet ads, news reports, and even bus stop benches advertising loan officers, all claiming to be the best, how are we supposed to choose? There is no one “right” answer, but here are some tips to finding the best fit for you, and having a great experience on that refinance or home purchase. 5 tips to choosing a great loan officer. 1. Reputation. No … (0 comments)
credit repair sacramento: Loan officers: 10 ways to adjust your business as interest rates rise.
- 07/16/13 11:25 PM
Last week bore tough news for the financial markets, with interest rates quickly following suit. We all feel a little panic when that happens but it's the perfect time to reassess your marketing strategy and change with the times. With a smart business plan and a lot of hustle, you can actually turn this challenge into an opportunity, separating yourself from the competition and expanding your sales base. Here are 10 ways to do that: 1. Purchase loans. When interest rates rise, it’s an ideal time to shift your focus to purchase loans, not refinances. Always keep a good balance … (0 comments)
credit repair sacramento: 6 BIG questions about our Sacramento real estate market.
- 07/16/13 11:21 PM
Have you heard the news? No, not that Kim and Kanye named their new baby after a point on a compass, or that the government is looking at all of our emails (can we ask the government to please delete some of our spam?) but that the Sacramento real estate market is on the move. Things are heating up like the temperatures this summer, but there are some aspects to the market that are truly remarkable. So what 5 questions might we have about the current Sacramento real estate market? Here they are: 1. Is Sacramento still plagued by defaults? The Notice of Default … (0 comments)
credit repair sacramento: Battle of the sexes or the Amexes? Men and women's credit card habits.
- 07/16/13 11:15 PM
Men and women are different, that much we know, so divided that the most popular relationship book of all time is “Men are from Mars, Women from Venus.” But do the sexes manage their credit cards differently, too? We might have preconceived notions of how men and women use their credit cards: are women really going on shoe shopping sprees that make their cards smoke? Are men buying too many big shiny toys to stockpile in their man caves? Let’s find out. The website NextAdvisor.com did a yearlong study about the personal use of credit card debt, and the differences between … (0 comments)
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