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Blog entries tagged with "credit reports":
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Disclaimer: ActiveRain Corp. does not necessarily endorse the real estate agents, loan officers
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During this time when the banks are tightening up and being very careful who they lend money to it is important to make sure your credit report is in good shape. If you have poor credit you should be working on ways to improve it so down the road you can … (0 comments)
Myth # 9: Nonprofit organizations like Consumer Credit Counseling Service (CCCS) can help me restore my credit.
We frequently hear we're supposed to regularly check our credit reports. And staying on top of this is especially important when starting to shop for a new home. There are three main credit bureaus: Equifax, Experian, and TransUnion. These bureaus store consumer credit histories by the millions, and hundreds of thousands … (0 comments)
Here is a little advice for anyone looking to get a copy of the credit report before they start the whole application process.
How much does bad Credit Cost you in a lifetime? Has anyone ever wondered? So often those of us in the Real Estate and Mortgage business are more interested in getting a loan to close, than wondering how much that loan is costing our client due to a lack of Excellent … (5 comments)
I have some advice for anyone looking to rent a home with less then stellar credit. DON'T get discouraged and automatically think the agent/owner will reject you if there are alot of prospects. Smile, be sincere, be human, be yourself.
Get Your Finances in Order: To-Do List
AVOIDING THE SCAMS OF "FREE CREDIT REPORTS" 
There are so many essential things that make up what a good property manager is, that I hesitate to pick one item as the most important. In fact, I think it is a mistake to do so.
The purpose of life, after all, is to live it, to taste experience to the utmost, to reach out eagerly and without fear for newer and richer experiences.
I have had my phone ringing off the hook over the last few days, and not because anyone wants to buy or sell a house, and not because anyone wants to lease ... instead, I've been answering phone calls from upset Realtors and their clients, because my client chose to go … (2 comments)
Credit Repair
… (0 comments)
How many of you have had buyers who wanted to purchase a home but their credit history is preventing them from moving forward.
Credit Scores - mystify most of us, but does a person's age have anything to do with their credit score? Answer: No. Age does not have any bearing on influencing a credit score. Credit Scores are based on how a person has "handled" their personal finances/credit. There are 25 year olds … (1 comments)
The FTC has a consumer section about Credit and Loans. It states that credit is much more than a piece of plastic, and the resources on the site can help you become a more savvy consumer. The site also has publications for businesses on credit issues and information on credit-related Rules … (0 comments)
If you ever applied for a loan and you were turned down then you know how important a positive credit score could be. So many companies are opening there doors to offer credit repair and most of the time for outrageous fee's. Just think about it for a minute, if they … (7 comments)
There is one way to apply for a mortgage loan, auto loan or a credit card loan without running credit at each place. 
The Public Interest Research Group has found a troubling amount of innaccurate credit reporting within the three major agencies. An alarming number of credit reports contain serious errors that could cause the denial of credit, a loan, or even a job. Further, some consumers never even received their reports, even after repeated calls. Among … (0 comments)
… (2 comments)
The Fight Against Identity Theft in Missouri
This was on Good Morning America this morning.
It's that time again! Time to check your credit. 
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With all the temptations of lower credit card offers many people surf around and pay off and close their account for the better short-term rate. They closed an account with a longtime credit history in good standing and what happens..... The credit score goes down! DON'T DO THAT.
You will see ads for many different companies promoting their "free credit reports."There is only one national clearing house for the 3 bureaus where you get your REAL, complete reports once per year.
Let's take a brief look at credit scores, credit reports, and how these items affect your home buying power, plus your long-term financial strength. Three companies provide this information to potential lenders, and others who deem this information necessary; Experian, TransUnion, and Equifax. Also, it is a federal law that … (0 comments)
Default Lines: The New Math Of Credit Scores by Jane J. Kim Thursday, December 20, 2007provided by
How do I dispute incorrect creditor information reported to the credit bureaus? 
How many of us have had customers come in who are shopping for housing who have not yet pre-qualified? 
The three repositories- Transunion, Equifax and Beacon each offer their own statistical models for credit scores. Unless you've worked in the credit reporting industry, or are closely affiliated with the process, the scoring system may seem unusual.I've seen credit scores 100 points apart from each other and I've seen scores where … (4 comments)
There are many web sites which claim to give free credit reports, but there always seems to be a catch - you have to buy other services before you get the credit reports. The Fair and Accurate Credit Transactions Act of 2003 requires each credit bureau to supply every consumer with … (0 comments)
Until recently the Denver real estate market was one of the few in the country that did not have licensing requirements for mortgage lenders. Although the Colorado Division of Real Estate has implemented a new Mortgage Broker registration procedure, unscrupulous lenders are still finding ways to exploit home buyers looking to … (0 comments)
It's so easy in today's society to get scammed and never know it. We don't check our credit reports like we should and only become aware of problems AFTER the problems occur. Don't wait until you're in the market for a home to check your credit report - check it constantly. … (0 comments)
Using Credit Summary Reports In Your Rental Application Review Processby Lisa Wells
It is quite common for people to experience financial difficulties especially during times of unemployment, divorce or even during medical emergencies. Some people manage to get back on track and pay off all the debts incurred while others find themselves with a huge debt that they can not pay. For those … (0 comments)
I wanted to share this important information with everyone. I was in a class recently and the presenter said that a vital thing for all of us to do was to check our credit reports on a quarterly basis in order to see if our identity was compromised. He mentioned that he … (5 comments)
I recently wrote an article on my "outside" mortgage advice blog on credit scores after watching an old 60 Minutes rerun where the reporter asked a panel of New Yorkers what their credit score was, how it was calculated and why it was important.
It can be time-consuming to dispute mistakes on your credit reports and eliminate inaccuracies, but it's worth doing. Start by ordering a copy of your credit report to review from one of the three credit bureaus.
The FICO Score is a score assigned by the credit reporting agencies that summarizes their view of how trustworthy (creditworthy) we are. The score varies depending upon our credit limits, debt load, payment history, number of lines of credit, etc. 
Use this link to access a special offer from TrueCredit by TransUnion:
Recently I spoke with a first time buyer who has some blemishes on her credit report and signed up for a program for a home buying program that advertises rent to own opportunities and says that they will help you improve your credit through this. I personally don't believe that this … (0 comments)
If so, they are on a targeted list of people that your good old credit bureau is using to sell that credit report to another hungry loan officer. I have heard countless complaints individuals where this is happening as soon as you run credit. Loan officers will call your client and … (4 comments)
With over 100 national lenders having closed shop in the past year, this is no longer simply a sub-prime lending issue. It's hard to believe that the real estate market could get much worse. With suburbs turning into ghost towns, major Wall Street banks going under, and people losing their homes … (0 comments)
When unloading the moving truck at your new destination you will want to be careful when opening the door in case any items shifted during the move. Some items may be leaning towards or against the door leaving them capable of falling out. You will want to be real careful opening … (0 comments)
Credit Problems? What can be done?
When initially speaking with your potential borrower on a commercial mortgage deal, the first goal should be to determine if you feel that the property and the scenario presented are viable for funding. As discussed in previous blogs, there are only so many hours in the day, and none should be wasted on … (1 comments)
How do you find out if your identity was stolen?
We have all heard the rumors...from neighbors, relatives or friends. There are a wide variety of myths floating around about what you should and shouldn't do to improve your credit reports and credit scores. The buck stops here! TrueCredit has exposed these urban legends to provide you and your informers with … (0 comments)
In my experience there are two types of people with bad credit: (1) people who never learned to deal with credit effectively and (2) people who had something that happened to them that caused them to fall down financially.
You've probably seen any number of ads on TV offering "free" help in checking out the status of your credit. You're given a toll-free number or web address to contact. And once you log on or call, you're asked to pay for dubious services to monitor your credit. Don't fall for … (0 comments)
Not many including those of us that are considered insiders know a lot about the credit scoring algorithms. Those are considered industry secrets and intellectual property by the three big bureaus. That being said I wanted to demystify some assumptions that you might have had about credit scores and the ways … (3 comments)
Credit Scoring vs. Mortgage Rates
Learn more about what the Fair Isaac stated back in 1999. Peter McCorkellhttp://thecreditmall.com/education/credit_scorecard.html … (3 comments)
Let us assume for the sake of this article that you have bad credit. You have a couple of things in collection, a few charge offs, some late payments and a repossession for that washer and drier a few years back.But in the last couple of years things have finally started … (0 comments)
I would like to ask you if you have reviewed your credit report lately ? As you probably know by now, your interest rate, along with loan amounts and available credit on credit cards is based off your Fico scores. The problem with that is most credit reports have atleast one … (8 comments)
OK I am back with more information for the FICO Fans.
In a previous post I introduced you to a particularly disturbing money grab by the three major credit bureaus called trigger leads. Trigger leads are where the credit bureaus sell consumers' information after their credit is checked by a mortgage lender. For example, you apply for a mortgage and because the … (3 comments)
Late last week I met with a young man to go work with him on a Buyer's Edge approval. Due to his income and debts his approval came in at $178,000.00 on a one family home. He was disappointed because he felt that he needed to be approved for a higher amount in order … (4 comments)
Two of the big three Experian and Equifax have decided that there billion dollar a year corporations need more profit margin. Starting in 2007 the Big Two (Experian and Equifax) have decided that charging once for a credit pull when a client applies for a home loan is not enough. 
Hello Everyone,
Starting November 1, 2006, New Yorkers have a new weapon to use against Identity Theft: the New York State Security Freeze Law
I'm finding that there is allot of interest in terms of how credit works with the 3 major credit bureau's. Allot of these questions I've taken for granted due to the position I'm in as a mortgage loan officer. I'm sure that others may know allot more about this subject, but I've … (11 comments)