Credit Myth: “Every time I have my credit pulled, it lowers my score.” Fact: Inquiries do not carry major weight in determining your FICO credit score. There are two types of inquiries: ‘hard’ and ‘soft’. A ‘Hard’ inquiry occurs when a business requests your information for an application process, typically pulled […]
Now, there are two things I hate in this world. One of them is collection agencies. The other is scary clowns (don’t ask). Collection agencies employ some of the most disgusting tactics to collect money. Calling employers incessantly, trolling Facebook pages, even threatening prison or bodily harm to collect from people. I hate them, […]
I had a wonderful “meet and greet” with an experienced, smart group of mortgage originators and a number of them had the same basic question (with a not-so-basic answer)…”How long can bad items remain on my clients’ credit reports?” In response, I’ve made a list for you. Print it. Memorize it. Tattoo it on your […]
Credit Myth: #1 “My spouse and I share our credit report” Fact: Your credit report is not shared with anyone. It is just like a finger print and is unique to you. If you open accounts together, the item will report to both but otherwise they are not combined in any way!
Credit reports play a very important role in determining how your financial future shapes out. They play a pivotal role in determining the kind of credit that you are eligible for, the interest rate you pay, the kind of premium you are charged for insurance and even influence your employment prospects! Be aware […]