credit restoration: Does Wealthy Mean A Better Credit Score?
- 05/24/16 03:37 AM
In February 2016, credit reporting agency, Experian, conducted a national survey concerning home-buying and credit. Despite a home-buying climate of low mortgage rates, many individuals are still concerned about their credit score and how it will affect their home buying ability over the next 12 months.
According to Experian, 40% of survey respondents who earn $100,000 or more per year voiced a concern about being able to access necessary financing for a home & 29% of those buyers are working to fix their credit score in order to qualify for a better rate.
While an individual’s total income and assets are used to … (2 comments)
credit restoration: How are FICO Credit Scores Tabulated?
- 01/12/16 05:49 AM
For professionals that serve those purchasing real estate or seeking financing we know firsthand how confusing and frustrating credit and scoring can be.
When advising and guiding individuals and businesses towards their goals many of us have heard these questions or something very similar, "How can my credit score be so low? I have been paying all my important accounts on time for 10-20 years, doesn't that count for anything?" "I have millions of dollars in the bank and own many properties how can I have such a low credit score?" "How can one account with a late payment for such a … (0 comments)
credit restoration: What Christmas Credit Score Wishes Came True in 2015?
- 12/29/15 04:58 AM
Recently I read an article about Christmas wishes that championed the free monthly offering of "FICO" scores by various credit card companies. The writer was excited that in 2015 "FICO" scores were being provided to credit card holders by most creditors. It seems as though the writer assumes that this is a good thing and will help bring clarity to consumers but when you take a closer look is this really the case? The majority of credit card companies now offer a free “FICO” score once a month. Many assume there is one version of the "FICO" score and do not realize … (4 comments)
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