myfico: Divorce and Credit
- 06/29/09 09:05 AM
The reality is that divorces are unpleasant and frequently involve legal battles between the two parties. Not only can divorce lead to emotional strain, but it can also lead to financial disaster as well. Any shared accounts and co-signed loans are the major source of the issue. During a divorce, the responsibility of marital debt is divided between the two spouses through a divorce decree. Most consumers assume that this division carries over to the actual accounts and they are absolved from the responsibility of the debt. In reality, divorce decrees do nothing to end responsibility for shared accounts. This way … (0 comments)
myfico: Getting the Most out of Your Credit Score
- 06/29/09 08:56 AM
Before applying for a loan, there are three key things that can be done to help qualify for the best possible lending available. Step 1: Understand your credit. Credit reports and scores are a major part of a mortgage loan application. A mortgage professional will check scores from the three major credit reporting agencies-TransUnion, Experian, and Equifax. Having scores above 620 will help to ensure you qualify for lending. Higher scores = lower interest rates. The five factors that are used to determine your credit scores are: Payment History-35% Amount Owed-30% Length of Credit History-15% New Credit-10% Types of Credit-10% Step … (0 comments)
The reality is that divorces are unpleasant and frequently involve legal battles between the two parties. Not only can divorce lead to emotional strain, but it can also lead to financial disaster as well. Any shared accounts and co-signed loans are the major source of the issue.
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