"If you have bad credit, can you still get a mortgage?" Generally speaking - no. Or maybe I should say "not until you fix your credit". Fix your credit? How does that work? The truth is, I don't really know (how is that for honesty?). But I can say that we work with a small handful of credit repair companies who help people remove inaccurate information from their credit reports … [Read more...]
All About Credit Scores (Part 3 of 3)
In our final installment of All About Credit Scores, I thought I would compile some of the Frequently Asked Questions that I have heard in the recent past (that I could remember at least!). "Will paying off a collection account remove it from my credit report?" No. A paid collection account will remain on your credit report for seven years. If I have a collection, should I pay off the … [Read more...]
All About Credit Scores (Part 1 of 3)
Your credit score is a numerical representation of your statistical likelihood to repay credit that is extended to you. Scores range from 350 to 850. Your score is a "snapshot" of a specific moment and can change with new actions and the passage of time. Some things that can help you tip the scales in your favor include: Paying all of your bills on time or early. Even a 30 day late on a … [Read more...]