Credit Score Archive for December, 2009

• Gain Control over Credit Score for Maximum Advantage

  by George Hauser

  Have you ever heard of maximizing your potential? This can be true to gain financial advantage. As a credit card holder, you have rights and access and also responsibilities. If you know your rights then you also know what to expect in the terms of your contract with the lender. If you know these rights, then you know the limits of access to the services of a credit card. Knowing these in turn is also being in-the-know of the responsibilities … (more) December 31, 2009

• Woman Walks Away from the Home She Can Afford

  by Sally Maison
  

  Many homeowners who have their homes underwater have decided it is not worth paying for a property which has a value lesser than the amount they owe on its mortgage. Some, who can still afford to pay, have decided to walk anyway even if it would hurt their credit score. Heather Baker, who lives in a Washington, D.C., suburb, is one of them. Last month, she decided to stop paying mortgages for her four-bedroom house. Baker no longer believes that … (more) December 31, 2009

• Mortgage Scammer Sentenced to Nearly Five Years

  by Sally Maison
  

  A packed Newark courtroom witnessed the sentencing of a Heath man to nearly five years in prison after being found guilty of stealing from at least 40 investors in a mortgage investment scam. This crime resulted in more than $475,000 dollars lost and ravaged credit score of victims. Joseph C. McClain, 31, whose last known address was at 1115 Daisy Lane, admitted guilty to a mortgage investment scam and was sentenced to four years and 11 months in prison. The … (more) December 30, 2009

• Credit Files and Credit Scoring – A Frequently Asked Questions List

  by Brian Anderson

  Knowing what there is about loaning money is the most basic credit score advice. Here are some quick answers to the frequently asked questions about credit scores. What is a credit file? A credit file stores all of the key financial information that a lender needs to know about you. This file includes your credit history as well as if your current debts. This file also contains information such as your name and address, if you had any bankruptcies, and … (more) December 30, 2009

• Station Owners Step on the Gas to Meet Improvement Deadline

  by Sally Maison
  

  Backhoes, dug up pavements, and fenced lots are becoming a familiar sight in Southern Florida as gas station owners speed it up to meet the deadline for the replacement of their storage tanks. Gas stations that will not be able to replace their storage tanks by the end of the year with double-walled tanks will be forced to shut down by the local government. However, some station owners fear that their credit score would hinder them from getting an upgrade, … (more) December 29, 2009

• Gain and Maintain a Good Performance for Better Credit Scores

  by George Hauser

  High credit scores are one thing that rings a bell to its owners. Good performance on credit card use will result in high scores. These credit scores are instituted by Fair Isaac and Company, thus the tag ‘FICO scores.’ Advantages of having a good performance can be fairly rewarding especially when applying for loans, insurance and other investments. Do a self assessment as a credit card user. Consider how well have you performed for the year. Have you paid the … (more) December 29, 2009

• MBA Against Proposed Credit Rating Disclosure Rule

  by Sally Maison
  

  Mortgage Bankers Association (MBA), an industry group comprised of 2,400 companies all over the United States, recently sent a letter to the Securities and Exchange Commission expressing its opposition to the credit rating disclosure rule. The propose rule would require credit rating agencies to disclose the initial ratings of mortgage-backed securities. MBA president and CEO John Courson led the MBA’s opposition to the credit rating disclosure rule, fearing that the change will mislead investors and cause them to invest in … (more) December 28, 2009

• Racking up your Credit score

  by Brian Anderson

  There are many types of credit score advice in the market. But which are the ones that are legitimate and which are the ones that are not? Well in order to answer that question, we must first understand the true meaning of what a credit score really is. A credit score is a numerical value derived from a statistical analysis of your different loans and transactions to compute your credit worthiness. This credit score is a three digit number that … (more) December 28, 2009

• Merrier Holiday Expected for Michigan Workers

  by Sally Maison
  

  For the first time since 2007, more people in Michigan are finding work instead of losing it. Moreover, the state’s business gets better as it turns to advanced technology, alternative energy, and movie making. It was a hard fought battle for survival by Michigan residents. The state has led America in terms of unemployment rates since 2004, causing thousands to see their finances and credit score crumble down. To make things harder, the number of unemployed surged by 310,000 in … (more) December 27, 2009

• Inquiry Your Partner for Right Financial Decision

  by George Hauser

  Choosing can be a great task. Decision making is difficult especially when it comes to financial situations. To credit card holders, this step requires more than enough to give much stress in one day. Especially when it comes to problems incurred in credit reports, paperwork can be a fuss to be able to fix the trouble. Credit score tips will tell you that if you let it be, you may lose the score you have gained for a good credit … (more) December 27, 2009