credit repair: Understanding the FICO Scoring Model - 04/12/11 08:58 AM
Understanding the FICO Scoring Model
Building good credit is a balancing act. If you have too much debt, then your scores will suffer. If you have no credit then your credit scores will suffer as well. There are 5 factors that determine your overall creditworthiness. Any of these five factors will affect your credit score either positively or negatively.
Your credit report will show all 5 of these factors in what is called a tri-merge report. This report is produced by each of the major national credit bureaus. Equifax, Experian, and TransUnion all use versions of the Fair Isaac Co (FICO) … (2 comments)

credit repair: The Cost of Doing Nothing About Your Credit - 04/12/11 08:52 AM
How Much Does It Cost You If You Choose To Do Nothing About Your Credit?
The short answer is it will cost you your life; the life you should be living, the life you were meant to live, and the life you need to start living.
Are you living with the emotional cost of bad credit?
     The fear of going without because you are afraid to apply.      The embarrassment of being turned down for a new car, and being told you need to choose from among their used inventory.      The humiliation of trying to purchase new home furnishings … (0 comments)

credit repair: Credit Repair Blog 4: Prepare your credit report for a mortgage - 01/25/11 10:09 AM
When reading through my credit repair blogs, please keep in mind that if you have questions about your own situation that you are welcome to contact me. I'd be happy to take a look at your credit report and give you some one on one advice on how to improve your score and lendability.
I'm going to go a little out of order on topics and write about something that's been on my mind: How to prepare your credit report for a mortgage.
If buying or refinancing a home is in your near future (the next 12 mos.) you'll want to … (1 comments)

credit repair: Credit Repair blog 3: Old vs. New accounts - 01/25/11 10:05 AM
Credit Repair blog 3: Old vs. New accounts
So now you've learned how to get collection accounts paid off and or removed from your credit report. You've also learned the difference between installment and revolving loans and how each influences your score. Well what about the age of your accounts? How does that affect your credit report?
Time is one of the most noteworthy factors that can improve your credit score. Establishing a long history of paying your bills on time and using credit conscientiously will ensure your score stays at a healthy number for the long term. It should go … (0 comments)

credit repair: Credit Repair Blog 2: Installment Vs. Revolving - 01/25/11 08:30 AM
Have you ever asked yourself what is the difference between a revolving account and an installment account and how does each affect your credit? Well you're not alone I've had many clients as well as friends and family ask me this very question. First, you'll need to know what makes an account revolving and what makes an account installment.
Revolving credit is credit extended to you in the form of a major credit card, department store credit card, and even Home Equity Lines of Credit. The creditor will set a maximum spending amount that you can charge on this card and … (3 comments)

credit repair: Get to Know Your Credit - 01/25/11 08:19 AM
Can you list off every account that should be reporting to your credit report and what the balances are for each? If not, I recommend sitting down with a copy of your report and really getting to know each account listed, i.e. are all of your payments showed as paid on time? How many revolving accounts do you have?
If you are just getting to know what a credit report is and how it can work for or against you, take a look at this glossary of terms.
Now you're familiar with the terms listed on your report, how many accounts … (3 comments)

 
Shane McGraw, VA Home Loan Specialist (Legacy Group Lending)

Shane McGraw

VA Home Loan Specialist

Silverdale, WA

More about me…

Legacy Group Lending

Address: 2819 NW Kitsap Pl Suite 201, Silverdale, WA, 98383

Office: (360) 519-7597

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