Clik here to view.
Credit Score Basics for Home Buyers
A recent survey reported that 2.7 times more first time home buyers than repeat buyers believe they must improve their credit scores before buying a house. First let’s dispel credit score myths. A...
View ArticleClik here to view.
Mortgage life after a derogatory credit event
An unforeseen event takes place… a medical event, job loss, divorce, death of a spouse… before you know it, bills are piling up and they never seem to end. Eventually this buildup could result in a...
View ArticleClik here to view.
Using government loans after a derogatory credit event
Last week, we focused on using conventional loans to purchase a home after a major derogatory credit event such as a bankruptcy, short sale, foreclosure, etc. This week, we will focus on VA and FHA...
View ArticleClik here to view.
Waiting Periods After Derogatory Credit Items – Foreclosures
Our nation’s economy has shown positive growth for several years now, following the Great Recession. Many folks who were hit hard during the recession have rebounded and are doing well now. Back...
View ArticleClik here to view.
Waiting Periods After Derogatory Credit Items – Bankruptcies
In the last post, we looked at how lending guidelines require specific waiting periods for different types of “derogatory items” on a borrower’s credit report. Then we zeroed in on waiting periods...
View ArticleClik here to view.
Credit scores on the rise
Some consumers credit scores are going up! A recent overhaul in the way the major credit bureaus factor in negative credit information is prompting millions of consumers’ credit scores to rise. The...
View ArticleClik here to view.
Credit freezes are now free!
A new law recently took effect allowing consumers to freeze and unfreeze their credit with the three main credit bureaus – Equifax, Experian and TransUnion. The push for this changed started in 2017...
View ArticleClik here to view.
Errors on credit reports
A recent study from Consumer Reports found over a third of Americans have at least one error on their credit report. Considering how important credit scores are for home loans, car loans, credit...
View ArticleClik here to view.
Credit scores, mortgage rates and PMI
Last month my colleague Rodney Shaffer evaluated a recent Zillow study on credit scores. His post focused on what makes up a credit score. This post will focus more on the impacts of the credit score....
View ArticleClik here to view.
Mitigating lower credit scores
Staying on my theme of credit this month. I’m building on a post from my colleague in late August about credit scores. Last week I gave some real world numbers of the impact credit scores can have on...
View Article