Imagine that you are going into a lender’s office prepared to apply for and receive a loan. You know what your credit scores are and you even got one score from each of the three major credit bureaus: Equifax. Experian, and TransUnion. You are shocked when your loan is denied, or maybe you were approved, but the interest rate is…
Tag: Scores
What Are Credit Based Auto Insurance Scores
Did you know that your credit information and your credit score may be used in determining if you can get automobile insurance and how much you will have to pay for that insurance? Many consumers are simply not aware of this practice, but it takes place everyday. This article examines some of the more common issues associated with this practice.…
Mortgage Loan Understanding Fico Scores
Apply for a mortgage loan and you’ll soon become familiar with FICO scores. Here’s a primer on the infamous FICO scoring process. FICO scores are merely a mathematical representation of your credit record. Credit records are simply a recording of your debts and assets. Credit card balances, for instance, are a debt that appears on your credit record, as do…
Good Iq Score The Myth And The Truth
There might be some people who claim to have a very good IQ because they have scored good in some tests. Some go to the extent of displaying their IQ score wherein sometimes the score is said to be as high as 120! The intelligence is directly proportional to the score – so is the prevalent belief. But such a…
Are Memphis Schools Getting What They Pay For
The 2001 No Child Left Behind Act provided many programs for students through out the country. In the Memphis Schools it made free pre-kindergarten and extra tutoring by teachers during school hours available to help achieve higher test scores and. Also, Memphis Schools’ low-income students received free extra-curricular tutoring. However, an extensive study but the University of Memphis found that…
Why Credit Scores Are So Important For Mortgage Refinancing
What is a Credit Score and why is it important for a mortgage loan? A credit score is a rating that is also called a fico score. This rating yields a number that reflects your level risk to the creditors. The higher the score the better your credit rating. The lower your score, the bigger risk of credit you are…
True Credit Secrets
Figuring out exactly how credit scores work is problematic. Like nuclear fission, learning Chinese and setting the clock on your DVD player, credit scoring is not something that most people can easily master. In the complicated world of credit scores there is one fact that pretty much everyone assumes is true: late payments are bad for your credit scores. Not…
Understanding Credit Scores And Repairs
If you are applying for a mortgage, you’re going to have to deal with credit scores. Here’s a primer on credit scores and methods for improving them. Credit Report Step one in the process is making sure that you have a current copy of your credit report. Congress recently amended the Fair Credit Reporting Act so that consumers may now…
What Can You Do In Advance To Get A Better Mortgage Rate
When it comes time for you to think about getting a mortgage, you should know that there are some things that you can do to help yourself get a better deal. In most cases, they can be performed over a few months, but will prove their worth in savings over the term of your new mortgage. Here are some of…
5 Fatal Mistakes We All Make That Drive Down Our Credit Scores
Most people don’t realize that they can drive down their credit scores even if they have a near-perfect record of paying their bills. The five classic mistakes you need to avoid are: 1. If you are applying for a mortgage, never pay off old collections, judgments or tax liens until the closing. (Ask your mortgage lender if you pay these…