Home owners that foreclosed, walked away or defaulted on a previous mortgage are finding it hard to get financing now that the housing market seems to be turning around. They shouldn't be surprised. Their activity stays on their financial records and often impacts FICO scores, which is the gauge lenders use to determine lend-ability. That's why it's key to always live below your means and have emergency savings.
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Showing posts with label FICO score. Show all posts
Showing posts with label FICO score. Show all posts
Monday, October 21, 2013
Thursday, October 10, 2013
Wednesday, October 9, 2013
Automaker Relying More on Subprime Loans
"[GM] is relying increasingly on subprime loans [to have their cars financed], 10-Q financial reports show." If your FICO score is close to or below 660, be cautious about what you're buying and your loan agreement. We've seen this story play out before and the individual doesn't win when the market tanks. Be money conscious and contact each of the credit rating agencies (Experian, TransUnion and Equifax) for a free copy of your credit report. You may also contact freecreditreport.com for a report, but it's only free if you cancel before the 7-day free trial ends. Otherwise, you're charged $19.99 monthly
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