Arriving Summer of 2020: The New FICO 10 Scoring Model Here's What to Expect ...
Hotter temperatures aren't the only thing that will soon be rolling in. A hot new FICO Scoring model will also make its entrance at some point during the upcoming summer months ... A new credit scoring model isn't that surprising of a development. Since its inception in 1989, FICO Scoring has evolved and changed many times. This new and latest version, called "FICO Score 10 and FICO Score 10 T", is to be released to credit bureaus this coming summer or early fall. It will feature some broadened elements to the calculation of credit scores. The latter … (25 comments)
What CAN Go Hand-in-Hand? Home Buying & Student Loans!
Conduct a search on the topic "Home Buying with Student Loans" and pages and pages or articles, information, advice, and opinions pop-up ...
"Do Student Loans Affect Buying a House?" "How Student Debt Can Ruin Home Buying Dreams" "Here's How To Buy A House When You Have Student Loan Debt" ... each are an example of the many such articles I found when I conducted my search today. Each article addresses the very real worry that too many hopeful home buyers face as holders of Student Loan debt. The focus of many of these articles is often placed on … (25 comments)
It's that time of the year again ... And that means the Holidays are here! Decorations, holiday songs, family gatherings, eggnog, parties ... And Shopping! Like the majority of Americans, you've probably found yourself ... or will find yourself ... doing one or both of the following during the Holiday Shopping Season:
Standing at a register in a store paying for a holiday purchase Making a holiday purchase online And inevitably, you'll find yourself being asked at the time of check-out ... or at some later date via an email or text ... if … (11 comments)
debt: Establishing Credit and Building Scores
- 04/28/16 04:57 AM
Tracy Becker of North Shore Advisory, Inc. Credit Education & Restoration addresses a problem that I see more and more often as a Mortgage Originator ... many younger clients having little credit history when they go to buy their first home.
Many of these young hopeful home buyers have avoided establishing credit lines, credit, and debt.
While Lenders' perspective on this issue is changing (slowly) and they have become a bit more "open-minded" to alternative methods of credit and debt measurement, many still want to see a credit history. And proof of their Applicant's ability to handle debt wisely. Tracy Becker offers some great … (3 comments)
Have you reviewed your Credit Report and Credit Scores recently? If not, I urge you to do so. For a number of reasons. But if you have: I applaud you. Did you find a debt, account, or error there though? After finding it, did you contact a Creditor, a major Credit Bureau, or take action to "dispute" the account? If you're planning on borrowing money SOON ... I'd advise against disputing an account or error that's appearing on your Credit Report ... Mortgage Underwriting platforms have changed their stance on "disputed accounts". Disputes used to … (41 comments)
debt: Just Like Your Underwear: Credit Needs to be Freshened-Up, Scrubbed, Updated, Fluffed & Changed
- 04/18/14 02:35 AM
Just Like Your Underwear: Credit Needs to be Freshened-Up, Scrubbed, Updated, Fluffed & Changed Everything needs to be "freshened up" once in a while. It needs to be given a trim. Updated. Fluffed. Scrubbed-up. Changed or re-arranged. Credit is no different ... But stop and think. When was the last time you took a good hard look at your credit situation, your credit cards, or Credit Report? Over a year? Two? More? Truth is, what worked for you credit-wise in the past, may not be serving your overall financial good now ...
Interest … (15 comments)
debt: What's YOUR Great American Novel read like? The clues revealed within your Credit Report
- 06/27/13 06:35 AM
What's YOUR Great American Novel read like? The clues revealed within your Credit Report We've all heard books referred to as a "great American novel". Books often mentioned in that vein are "The Great Gatsby", "Adventures of Huckleberry Finn", or "To Kill a Mockingbird" ... each most likely introduced to you in a high school English class. The authors of these great books offer us riveting stories regarding the mindset and lives of their characters. Much like the great novels referenced above, a Credit Report delivers much the same thing. It reads much like a book ... a … (40 comments)
Hoping to Buy a Home? Juggling some credit? Don't drop the ball. Juggling some credit? Credit ... credit scores ... credit cards ... debt? Knowing how to handle or utilize your credit and debt to your advantage can seem much like a juggling act. Lose control of even a portion of it or for a second ... and you can drop all the balls. Both figuratively speaking and literally. The topic of credit is obviously one touched-upon often as I speak to my mortgage clients. Questions arise … (16 comments)
debt: Teaching the Children Well ... Finances and Hockey
- 05/10/10 11:13 AM
I have been a Chicago Blackhawk hockey fan since I was born. There's just never been a time where the game of hockey wasn't important and thrilling to me ... even in the years where the seats in Chicago's stadium were more empty than full. When I was dating what was my then future wife, I knew I had found the right woman for me when she found listening to the Blackhawks on radio a thrilling date. Not many women would have thought that a first date with a man that included a Blackhawk's game ... or a honeymoon trip that … (4 comments)
debt: FICO SCORES ... How They're Arrived At ... How They're Affected by Short-Sales, Foreclosures, & Bankruptcies
- 05/06/10 05:46 AM
It is pretty much understood, that if in foreclosure or going through a short-sale, credit scores are going to take a hit. What has not been clearly understood ... is just how much of a hit is felt? Until recently, there had not been much of a barometer or "method" known for calculating or determining how these delinquencies would affect a FICO score. Fair Isaac has recently revealed a little bit of information as to how they calculate that. Explaining the five components that make up a FICO/Credit Score might prove helpful here. If they are known, the results of foreclosure, short-sale, and bankrurptcy will be better understood. First … (78 comments)
debt: Wouldn't You Like To Know How Healthy The Banks Are In Your Neighborhood?
- 09/28/09 11:24 AM
Thank you so much to SarahGray Lamm, my AR fully-licensed, full time, residential Broker/Friend in North Carolina, for providing this valuable information. I felt it very important that as many people view and have access to this info as possible ... so I asked for permission to re-blog the piece. Sarah was gracious enough to allow me to do so. The information contained within this article could prove extremely worthwhile to many across the nation. Please pass the provided links on to those you think interested, or in need!
We keep hearing there are more foreclosures coming and it's just common sense that those bad loans … (0 comments)
;)
;)
;)
