Published On November 8th, 2010

With foreclosures soaring — and homeowners with unblemished payment histories abruptly walking away from their houses with no warning to lenders — the two major producers of credit scores have begun changing how they evaluate consumers’ risks of default. The revisions could affect you the next time you apply for a loan.

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Published On May 25th, 2009

The FICO Mortgage Score – This score is actually a variation of the FICO score currently available at Equifax, which is called BEACON. This new score, which comes at the request of players in the mortgage industry, is meant to give them a better understanding of credit risk posed by mortgage borrowers rather than just general credit risk across all different types of accounts.

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Published On April 5th, 2009

What almost nobody knows is that a 90 day late payment by itself has the same exact effect on a credit score as a foreclosure.  Fair Isaac’s classic fico model is designed to determine the liklihood of someone going 90 days late on a particular loan obligation over the next two years. 

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Published On January 3rd, 2009

Did you know that all residents of the US have the right to obtain one free credit report from each of the three credit bureaus per year? Now that we’re heading into a new year, it’s the perfect opportunity to take advantage of this benefit–especially now that your credit score is more important than ever with today’s tightening credit standards!

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Published On November 25th, 2008

With the economy slowing and holidays just around the corner, many consumers may be looking to credit cards to help them get through the heavy shopping season. While that may be a good short-term solution, you want to make sure you don’t overlook the long-term impact on your credit rating. After all, the actions you take today could hang over your head for years to come–and may make it tough for you to get the home loan or car loan you want in the future.

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Published On September 23rd, 2008

It's surprising how many consumers make the same credit scoring mistakes over and over again. In an effort to educate consumers on credit and credit scoring, we've compiled 5 common credit scoring mistakes into a list that defines each mistake and explains why they are bad and how to avoid them:

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Published On September 5th, 2008

Nowadays a number of similar companies are offering free credit reports and scores. With all of these ads for freebies, it’s no wonder that so many consumers believe that all credit scores are created equally.

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Published On August 25th, 2008

A question I am often asked by people who have had a previous bankruptcy is how to minimize the effect on their credit report & scores.  I have seen many clients who have been able to get their scores up to over 640 within 12-24 months of a bankruptcy being discharged, and others whose scores continue to stay in the low 500 range even several years after their bankruptcy.

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Published On August 6th, 2008

Many people have never checked their credit score. They have always used credit wisely and have probably never been denied a loan. Long story short, they have never really had a good reason to worry about their credit score.

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Published On June 26th, 2008

The service offered by TransUnion — the result of a class-action lawsuit — is open to an estimated 160 million Americans. The registration deadline is Sept. 24, 2008. The settlement will give each member of a household nine months of a free credit-monitoring service and/or a cash settlement.

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