credit: Credit Inquiries DO MATTER!!!!!!
- 04/07/15 11:17 AM
I wrote a post about credit scoring entitled What You Need to Know About Credit Scoring. There were 5 variables that affect the credit score of the borrower. Needless to say, I really think that while credit inquiries have the lest amount of weight towards your credit, it also happens to be the most misunderstood category. The 5 Categories that Specifically Impact your Credit are: Payment History Outstanding Credit Balances Credit History Type of Credit; and Inquiries Credit Inquries are the least impactful, but probably the most frequently misunderstood. So... what's the 101 on credit inquries? What's an inquiry? Basically, it's when … (8 comments)
credit: There May Be Things We Can do to Fix Your Credit...Hope Always Abounds
- 10/08/13 11:00 PM
Over this past month, I've received a number of new loans. I love the easy slam dunk loans where someone with perfect credit, excellent income and a good down payment comes in, but it doesn't always work out that way. Just this past month... I have received 4 referrals whom have been denied by a number of different lenders. The issue? Bad credit. Not horrible, but bad enough, that as it stands at the moment they can't get approved for a mortgage. We're able to help. Just this past wee, we've received approvals for individuals who we've helped pick up their … (32 comments)
credit: Blemished Credit? A 580 Score May Get You Into a Home Today!
- 09/09/13 02:31 AM
The across the board minimum for most mortgage companies is a 640 middle credit score. Now, at Cherry Creek Mortgage, we have the ability to approve FHA loans down to a credit score of 580. Earth shattering? Not really, but huge? You bet! This is something that takes a lot of borderline buyers and puts them in the position to buy a home today. If you're worried about your ability to buy because you're not sure if your credit is good enough, now may be the time to re-examine your situation. Give me a call....options pervail! … (5 comments)
Credit is one of THE MOST IMPORTANT ISSUES IN getting a loan today. Time and time again, I'm called by a client who says "I PAY MY BILLS ON TIME, BUT MY PEOPLE SAY MY CREDIT STINKS.... Maybe I'll just pay off my credit cards today..... No, No, No, No Nooooooooooooo!!!!!! It just happened to me yesterday.....AGAIN!
Truthfully, there is more to a credit score than just making your payments on time or paying off your credit. In fact paying off all your credit today could be a bad move. Needless to say, … (47 comments)
credit: Bankruptcy isn't Always the Solution....in fact, it can be really bad advice!
- 01/24/12 01:59 PM
I see it all the time. The phone call begins. The people want to buy a home. THERE ARE FOUR THINGS YOU NEED TO BUY A HOME! Income Assests Credit Appraisal In 2010, the collapse always begins with issue number three.... Credit CREDIT CREDIT!!!!! You got credit issues! So what? Join the rest of the world! Welcome to 2011! We're in the post luxorious living economy! Nothing's easy anymore. For the record....Lending isn't easy anymore! It just isn't. It's hard for me to lend money. It used to be a slam dunk. You have a pulse, then you have a loan. The … (4 comments)
credit: After Loan Approval....DON'T BREATH AT ALL UNTIL YOU CLOSE!
- 06/16/11 04:07 AM
Or At Least Until You Close Here's the deal Your credit will be re-pulled prior to closing! Book it! Bank on it! Expect it! Last month we had about 1500 closings and two issues came up prior to closing. One person had new credit because of a recent purchase and the other person had just "looked" into obtaining credit. The real issue is this. Don't do anything once you've applied for a loan. After you've gone to closing, then you can go purchase items til they come through your wazoo, but until then.... Fogettaboutit! Recently, I've seen companies getting bit in … (60 comments)
credit: Credit Inquiries And You? What's the Gig????
- 05/25/11 06:09 PM
Recently I wrote a post about credit scoring entitled What You Need to Know About Credit Scoring. There were 5 variables that affect the credit score of the borrower. Needless to say, I really think that while credit inquiries have the lest amount of weight towards your credit, it also happens to be the most misunderstood category. The 5 Categories that Specifically Impact your Credit are: Payment History Outstanding Credit Balances Credit History Type of Credit; and Inquiries Like I said, Credit Inquries are the least impactful, but probably the most frequently misunderstood. So... what's the 101 on credit inquries? What's … (48 comments)
credit: Three Critical Things You Can Do to IMPROVE YOUR CREDIT NOW!!!!
- 03/07/11 01:38 AM
CREDIT - SCMEDIT! Most peope have some sort of credit issue. They do! Here are 3 sure fire ways to get your credit scores up! 1. FIRST AND FOREMOST - YOU GOTTA KNOW IT TO FIX IT! If you done so, get your credit report. It'll serve as a baseline. There are a lot of free services that allow you to go and check it out without impacting your credit in a negative way. When you get it, check it out. Look for errors. Often times your credit report has a lot of errors. Even minor errors can have a major impact. Every … (8 comments)
credit: What's the "Dealio" with those Inquiries and My Credit Scores?
- 01/11/11 02:05 AM
Recently I wrote a post about credit scoring entitled What You Need to Know About Credit Scoring. There were 5 variables that affect the credit score of the borrower. Needless to say, I really think that while credit inquiries have the lest amount of weight towards your credit, it also happens to be the most misunderstood category. The 5 Categories that Specifically Impact your Credit are: Payment History Outstanding Credit Balances Credit History Type of Credit; and Inquiries Like I said, Credit Inquries are the least impactful, but probably the most frequently misunderstood. So... what's the 101 on credit inquries? What's … (12 comments)
credit: Who Told you to Declare Bankruptcy?
- 01/07/11 04:02 AM
I see it all the time. The phone call begins. The people want to buy a home. THERE ARE FOUR THINGS YOU NEED TO BUY A HOME! Income Assests Credit Appraisal In 2010, the collapse always begins with issue number three.... Credit CREDIT CREDIT!!!!! You got credit issues! So what? Join the rest of the world! Welcome to 2011! We're in the post luxorious living economy! Nothing's easy anymore. For the record....Lending isn't easy anymore! It just isn't. It's hard for me to lend money. It used to be a slam dunk. You have a pulse, then you have a loan. The … (12 comments)
credit: What You Need to Know About Credit Scoring
- 12/16/10 05:55 AM
Credit is one of THE MOST IMPORTANT ISSUES IN getting a loan today! My client tell me all the time that "I PAY MY BILLS ON TIME, BUT MY PEOPLE SAY MY CREDIT STINKS. Maybe I'll just pay off my credit cards today.....Noooooooooooooo!!!!!!" Truthfully, there is more to a credit score than just making your payments on time or paying off your credit. In fact paying off all your credit today could be a bad move. Needless to say, I've broken this down so that the complexities of mortgage credit scoring can be understood by the consumer. I reference this a lot when consulting … (4 comments)
credit: Don't Listen to Others About Your Credit, After All, ITS YOURS!!!!
- 12/13/10 06:53 AM
LET'S TALK LONG TERM HERE! CREDIT MATTERS!!!!! ESCPECIALLY IN THE LONG TERM! I have clients all the time who think that they'll just take the hit on the chin right now and rebound shortly to get back in the saddle for finances and for life. All of their friends and advisors always tell them..... no worries....you'll bounce back. Here are a few reasons why your credit is so critical to your long term financial livelihood. It's not a matter of taking it on the chin today and bouncing back tomorrow. FIRST, - Mortgages report on your credit report for 7 years. So, … (6 comments)
credit: Stop and Think before You plan to Change Your Credit Scores!!!!!
- 08/24/10 10:33 AM
Credit is one of THE MOST IMPORTANT ISSUES IN getting a loan today. Time and time again, I'm called by a client who says "I PAY MY BILLS ON TIME, BUT MY PEOPLE SAY MY CREDIT STINKS.... Maybe I'll just pay off my credit cards today..... No, No, No, No Nooooooooooooo!!!!!!" Truthfully, there is more to a credit score than just making your payments on time or paying off your credit. In fact paying off all your credit today could be a bad move. Needless to say, I've broken this down so that the complexities of mortgage credit scoring can be understood by the … (54 comments)
credit: After you apply for a mortgage.....Don't move til after close!
- 07/08/10 03:49 AM
Here's the deal Your credit will be re-pulled prior to closing! Book it! Bank on it! Expect it! Last month we had about 1500 closings and two issues came up prior to closing. One person had new credit because of a recent purchase and the other person had just "looked" into obtaining credit. The real issue is this. Don't do anything once you've applied for a loan. After you've gone to closing, then you can go purchase items til they come through your wazoo, but until then.... Fogettaboutit! Recently, I've seen companies getting bit in the butt by this new rule. … (63 comments)
credit: YOUR CREDIT SCORE - The Real Facts that Affect YOUR SCORE!!!!!
- 01/14/09 02:51 AM
THE STRAIGHT STUFF ON YOUR CREDIT Here's the bottom line. I'M TOLD ALL THE TIME...I PAY MY BILLS ON TIME, BUT MY PEOPLE SAY MY CREDIT STINKS. Maybe I'll just pay off my credit cards.....Noooooooooooooo!!!!!! Truthfully, there is more to a credit score than just making your payments on time. There really is. Needless to say, I've broken this down so that the complexities of mortgage credit scoring can be understood by the consumer. I reference this a lot when consulting clients. With this information you can self-analyze your situation to make sure that you monitor your scores or raise your … (1 comments)
1 “Let not your heart be troubled; you believe in God, believe also in Me. 2 In My Father’s house are many mansions; if it were not so, I would have told you. I go to prepare a place for you. 3 And if I go and prepare a place for you, I will come again and receive you to Myself; that where I am, there you may be also. 4 And where I go you know, and the way you know.” (John 14:1-4, New King James Version)
I wrote a post about credit scoring entitled What You Need to Know About Credit Scoring. There were 5 variables that affect the credit score of the borrower. Needless to say, I really think that while credit inquiries have the lest amount of weight towards your credit, it also happens to be the most misunderstood category.
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