Your Balances and Best Scores (part 3)

We’ve been doing a series on Credit Score Basics, and how to get the best credit score… for the first part click here – and for Part Two of the series, click here.  This is a TON of free information on how to improve your FICO credit score. Maximizing Your Balance for the BEST Credit [...]

54% Have Good Scores

If 54% of American’s have credit that’s good enough to buy a house… that means 46% of American’s are listening to Debt Collector Calls… no wonder we’re depressed! But there are also debt collection agencies and debt collectors who perpetrate scams on honest people who owe nothing; and debt collectors who clearly violate the law [...]

What Does “Clean Credit” Mean??

“Clean Credit” is a slang term used OFTEN in mortgage lending. It refers most often to someone who has 12 months with no lates.  But it’s not just late payments, it also refers to 12 months with no collections filed.  12 months with no judgements of liens.  12 months with no one writing anything to [...]

Why Are My Scores Different??

Okay- so by now you know that you will have 3 credit scores – at least this is what we’re working towards – and we want scores that are over 700. But since the credit scores are for the SAME person… you might think they would be the SAME.  Right?  I’ve NEVER seen 3 scores [...]

Did FICO Cause Meltdown?

I read an interesting article from Peter G. Miller this morning that discussed weather the credit report scores contributed to the subprime “mess.”  In it, he wrote: During the past few years we have been talking about toxic mortgages — and the need to avoid them. Without fail, each time the subject has arisen lenders [...]

What is FICO?

There’s so much made over you’re FICO score – but what is it? FICO stands for the corporation that developed it in 1956.  It’s a complex “black box” credit-scoring formula that tries to assess the risk of a borrower having a default in payment. It was used by credit card companies for years before making [...]