Real Estate Credits

what is a good credit score

For example, most would assume their mortgage loan payment history is being reported. If you are a person with bad credit and need a co-signor, consider all of the above before asking a person to co-sign for you. You can keep it and use it yourself, or sell it to pay off the loan. Therefore, your credit report with each of the three agencies will differ as to completeness of information. You can then, in turn, file a suit against the borrower in small claims court to recover whatever money you lost as a result of the borrower defaulting. When a lender requires a co-signor to guarantee the debt, he believes the borrower is at very high risk of defaulting on the loan.One of the biggest financial mistakes one can make is to co-sign a loan for another person. Inquiry Section Credit bureaus sometimes use coding in the inquiry section (section where those who have pulled your credit file are listed). They do not share information with each other and most lenders do not subscribe to the services of all three agencies. Is your poor credit rating keeping you from getting a good job? No matter how bad your credit rating is today, you can start working on raising it and achieve a high credit score someday, and sooner than you think. You may also have to pay late fees or collection costs, which increase this amount. This is the very reason you should not co-sign, particularly since it is estimated that 75% of those who co-sign wind up paying some or all of the debt owed.

News

Credit Bureaus Found To Sell Personal Data (WSMV Nashville)

Your credit score affects what kind of home you can buy and what kind of car you drive. It can even affect whether you get insurance or a new job.

Raising credit score will get tougher (New York Daily News)

If you've ever tried to apply for a credit card, mortgage or even rent an apartment, you know what a credit score is.

Your Money: Good credit score helps mortgage rate (USA Today)

Sales of existing homes fell to a four-year low last month, and the supply of homes for sale was up, which is happy news for house hunters. But unless you're sitting on a mountain of cash, you'll need a mortgage, and that's no longer a sure thing. In response to a sharp rise in foreclosures, mortgage lenders have tightened their standards, leading to an increase in rejected applications.

Late pays hurt credit score (Bankrate.com via Yahoo! Finance)

Paying on time for a while will rebuild your score, says Dr. Don.

Expert: Don Taylor, Ph.D., CFA, CFP (Bankrate.com)

Dear Dr. Don, We have always paid our bills, but never on time. We recently realized that it hurts our credit score. How can we see what is in our credit report, and how long would it take to make a bad score good again?

Nothing was found!

Even more about what is a good credit score

Credit score (United States) - Wikipedia, the free encyclopedia

That said, holding bank accounts in good standing will help obtain credit from lenders even if it does not directly impact your credit score. Apply for a student credit card — although they have low ...

Talk:Credit score (United States) - Wikipedia, the free encyclopedia

And if you can get a credit card for free, pay no annual fee, and start building a good credit score, why not do it?? Anyway, this article isn't the place for a discussion like that.