Everyone is pretty familiar with what a FICO credit score is. But there’s a new credit scoring agency in town, and in the next few years it may replace the FICO score all together.
What most people don’t understand is that there are many agencies who produce credit scores. FICO is just the most…
Have you ever considered getting a loan modification? If so, you’re not alone. Many people who fall behind on their loans are quick to turn to them, hoping they’ll provide some level of relief. But, many soon realize that a loan modification wasn’t quite what they expected.
The Amount Owed Won’t Disappear:
A…
Make sure the sales contract on your new house or condominium includes a home inspection clause before you sign it. The inspection clause should clearly state that your final obligation to buy depends on the outcome of a professional home inspection.
When it comes to the largest single investment you’ll probably ever make, you don’t want…
Need to rebuild your credit? There are several ways to go about improving it. Some are obvious, some not as obvious. Here are two in particular that most people aren’t aware of:
Go to a bank or credit union and get a prepaid credit card. This is where you give them $300 of your own…
One of the biggest mistakes people make when trying to be ‘responsible’ with their credit is using too much of it. Most people believe that if they use their credit cards to the max and pay it off at the end of the month, this helps build credit. This is not true. This actually looks…
A shaky credit score means the difference between getting approved for a loan and being denied. And when you’re ready to go for that first home, or new car the last thing you want is to be denied. If you know your credit is bad, there’s no time like now to make steps towards improving…
Mortgage lenders have begun requiring home buyers to either make a 20 percent down payment or buy private mortgage insurance in the wake of the mortgage meltdown. Some mortgage lenders have reduced the required down payment in the last couple of years, and they will now accept mortgage loans with only 5 percent or 10 percent…
Are you throwing a lot of money at your credit card debt, but aren’t seeing a real difference? This is common where the borrower may be making the monthly payments on time, but still seeing a high balance.
Here’s the issue. If you’re carrying around a $5,000 credit card debt where you’re making…
Have you gotten yourself into hot water because of a payday loan? These loans may seem like the perfect solution to your problems at first. Especially, when you need it for an unexpected expense. But if you aren’t careful, you may find yourself falling into default.
The first time you’re unable to pay back your…