FICO and Credit

A Good Article On Credit Scores From A Great Site

The Genie Says Watch That Score!

from NRVLiving - Real Estate. Simplified. by Jeremy Hart

This week’s Mortgage Genie, Brandon Nicely, tells us why credit scores really are important …

“There are several actions a person can take to impact their score, but here are a few to keep in mind.  If someone has a credit card with a high balance, while their remaining credit cards have low  or zero balances, it’s best to distribute the debt across the cards in order to change the ratio of debt to available credit.

A Realtors View On Credit Scores

Bonnie Erickson, a great real estate agent and one of the nations top real estate bloggers writes an informative article I propose you read.

Here is a portion: Have you ever wondered how important a credit score is? Credit scores are a big mystery to some people. There are things called tri-merges, credit ratings, adverse credit, no credit, credit bureaus, etc. All the terms and all the reports overwhelm a lot of people. Only when our credit was stolen and we became victim’s of identity theft did I learn to read a credit report.

Click here for the full article.

Referral for an expert credit repair person…YOU

If you hire it done, A credit repair company or person will only charge you for what they can’t do, and what you should do, and what you can do, if you will do.

Read a book, say a prayer, make the call yourself. Look at your report, make a plan, call the creditors, make a deal, do it yourself.

Question And Answer On FICO Scores

Question: Is it true that my FICO score can’t recover from a negative mark for 7 years?

Answer: No that is not correct. Some items do have an affect for that long but as time moves on since the incident, the lower the impact on your score. An example is a collection. This is a reason that if you are applying for a mortgage, that you should not pay off a collection without the advise of a loan officer. Paying it off will bring the date forward to a current date and can hurt your score. An experienced loan officer will know the timing and ways to deal with this.

Late payments, inquiries, exceeding credit lines, all have less impact as the months move on.

Your score can raise immediately through rapid rescoring. This process has additional costs, so we advize you to use the FICO Dr now to anticipate your problems and save the rapid rescoring fees. Click here to order the FICO DR.

Introducing The FICO Dr. Perfect Diagnosis & Remedies

Through our Mortgage Company, Home Funding Central Inc., dba Homes And Loans

we offer this great new service. It relates to your mortgage score and what exactly you must do to raise it. It shows you exactly what to do, with different scenarios requiring different amounts of cash.

Fill out the simple form, including your phone number and email address and watch the Dr. go to work for you.

Click here to get started. It is easy to order and easy to understand.

I was our first customer and was blown away.

For a 3 bureau analysis by our Dr. it costs 34.95 for a single report and $50.00 for a joint score.

Your report is delivered to us for review with you, but you receive all of the necessary information to raise your Mortgage FICO Score.

Competitive products use a consumer score, not your mortgage score.

It does count as an inquiry.

Leave a comment if you have questions.

Larry Cragun

An Article With Some Good Insight - By Maureen Francis

How to Get A Great Credit Score: Part 1 Click Here for full article:

The credit score – as mysterious as a gypsy palm reading? Kind of, yea. Sometimes I’m surprised that some credit scores are better than it appears they should be and others are worse. Why? I have no idea.

Maureen informs us:

I will give credit where credit is due.  The author

is our mortgage dude, Ken Mascia from Oxford

Financial.  He's making a semi regular

appearance on the blog doing the finance stuff.

Look for a sizzlin part 2 early next week.

Part two on credit from Maureen Francis

click here to get a correct look on what to do and not do after having some problems.

a snippet from the article

Many people that have over used credit, and gotten into payment trouble, make one gigantic mistake – they stop using credit all together. If you have a recent history of late payments to creditors (or a long ago history) the one thing that will improve your credit score is to re-establish that you are willing to repay lenders you owe money to. The only way to do this is to utilize credit and make your payments on time. One year of perfect payments on 2 or more credit lines will go a l o n g way towards improving a bruised credit score.

Written by Ken Mascia
Oxford Financial Corporation
Birmingham, Michigan
248-644-1200

Review your credit regularly. You will hate the results if you get nailed for identity theft.

Click here for the full article:

It is my suggestion. Review 1 credit bureau every three months.

FICO And Men

From a previous article on MortgagesUndressed.com. Click here for the full article.

We will now post all credit articles on this site.

Long long ago before the FICO score young couples would come to me for a loan with predicatable conversations. I would run their credit reports, the young wife would be fine, the young husbands - in the tank.

Gads how these guys would play dumb. “I dunno honey” in true Chimp (I mean chump) talk.
Nowadays that doesn’t happen. You see, we males like to compete. We learn at an early age to keep score. Baseball, golf, basketball, kisses, and credit score.