5 Steps to a Credit Makeover
5 Steps to A Credit Makeover
June 2, 2009
A lot of homeowners have the mind set that making payments on time automatically equates to good credit and credit scores. Unfortunately, this couldn’t be further from the truth. While paying your bills on time accounts for a large portion of your credit score, there’s still a lot more to it. In fact, paying your bills on time only drives 1/3rd of the points in your credit score, which means that 2/3rds of your score has nothing to do with making on time payments. Five main categories go into making up your overall... [Read the full story]
Credit Overview
Loan Modification: What you need to know!
September 7, 2009
At the heart of the President Barack Obama’s ambitious plan to rescue the housing market is the conviction that restructuring distressed mortgages will keep struggling borrowers in their homes and help insert a floor beneath plummeting property values. With $75 billion dedicated to reworking troubled loans, that’s a big bet—especially considering that a top banking regulator said last December that almost 53 percent of loans modified in the first quarter of 2008 went bad again within six months. But supporters... [Read the full story]
Banks Bad Behavior
Credit Limit Being Lowered? What to Do
June 2, 2009
Over the past 12-18 months most of the large credit card issuers have been changing the terms of some of their customer’s accounts. The reason they’ve been doing so is because of a general lack of comfort for credit risk as well as the slumping economy. Changing ...Please sign up or login to see the rest of this page. Read More →
Featured Category
The 5 Big Credit Mistakes
It’s surprising how many consumers make the same credit scoring mistakes over and over again. In an effort to educate consumers on credit and credit scoring, we’ve... [Read more]