New Rules Could Boost Your Credit Scores Each of the major credit-reporting agencies have agreed to changes in their scoring formulas that could boost your credit scores. Help To Correct Errors Until now, disputing inaccurate entries on your credit report resulted in a “passing of the buck” by the bureaus. They simply forwarded your complaint along to the creditor for review, then refused to adjust or even remove the inaccurate tradeline if the creditor would not admit their error. Under new rules, if you provide the appropriate documentation AND... Read More >
Trigger Leads: Protect Your Personal Data
Trigger Leads: Protect Your Personal Data Did you know that the major credit bureaus sell your personal information? It’s true! Known as “trigger leads”, the files of borrowers applying for a home loan are immediately flagged, packaged, and sold by the credit bureaus to the highest bidders. For about $25 to $100 or more, your name and certain specifics about your credit report, including your address, phone number, mortgage history, and even your FICO score range, are sold to unscrupulous mortgage companies which then blindly solicit your business. This... Read More >
Rebuilding Credit: It’s Not Too Late
How long does it REALLY take to rebuild your credit? It’s true, negative credit items can remain on your credit report for up to 7 years (up to 10 years for public records, such as a bankruptcy, tax lien or judgment). But this doesn’t mean that you have to wait 7 to 10 years to begin reestablishing a good credit rating. Because credit scoring models typically lend more weight to your recent activity than to the mistakes you’ve made in the past, you can change your habits right now... Read More >
How To Raise Your Credit Score–FAST!
If you are looking to improve your credit score quickly, now is the time to get started. Give me a call (208-880-0316). I’ll review your credit and find out exactly where you stand and where you need to get to. In the meantime, here are some great strategies you can utilize right away to give your score a little boost. Create Some Balance: While paying down installment debt (car, school, mortgage, etc.), on time, and as agreed, shows responsibility and will definitely boost your credit score, paying down or... Read More >
Bi-Weekly Mortgage Programs
Many of my clients ask me about whether or not it is smart to enter into a contract to make bi-weekly payments on their mortgage. Do you know what this means? In a bi-weekly mortgage program, the amortization schedule is accelerated. For example, with a 30-year amortization schedule, the borrower makes 12 payments per year. In a bi-weekly arrangement, the borrower makes 26 ‘half’ payments, which allows the loan to be paid off in 22.8 years instead of 30 years. It’s the same as making 13 monthly payments. On... Read More >
>> What Lenders Look For
Once your loan application is filled out and sent to the lender for review, the first thing they will...
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