Credit

The term credit can mean many things. For most people, it is the ability to borrow today and pay later. The idea of “credit-worthiness” defines our personal finances, and reaches out to all parts of our financial lives. Credit can be an accounting term. You can talk about credit cards, your credit history, your credit score, or the three credits you got in college for taking Bowling. This page is the credit nerve center of ThinkGlink.com. From this page you can learn more about what credit means and how having good, bad, or mediocre credit affects your personal finances.

Can a Loan Modification Hurt Your Credit Score?

Applying for a loanA Loan is an amount of money that is lent to a borrower, who agrees to repay it plus interestInterest is money charged for the use of borrowed funds. Usually expressed as an interest rate, it is …

Continue reading

Posted in Credit History, Loan Modification | Tagged , , | Leave a comment

New Year’s Resolutions for Home Buyers in 2013

In the nearly 20 years that we’ve been writing this column, we’ve offered New Year’s Resolutions for home buyer and home sellers, plus New Year’s Financial Resolutions that everyone can use to start their year off right. This is the …

Continue reading

Posted in Credit, Home Buying | Tagged , , , | Leave a comment

Help Paying Monthly Bills

A person can help pay his monthly bills and avoid over-extension by going into foreclosureForeclosure is the legal action taken to extinguish a home owner’s right and interestInterest is money charged for the use of borrowed funds. Usually expressed as …

Continue reading

Posted in Credit, Credit Card Debt, Credit Counseling | Tagged , , , , , , , , | 4 Comments

Cancelling Credit Cards to get Cash Out Refinance

Excellent credit score, great credit history, plenty of equityYour share of ownership in a company. Stockholders are often referred to as equity investors, because they invest in the equity of a company. , and yet lenderA Lender is a person, …

Continue reading

Posted in Credit, Credit History, Refinance Mortgage | Tagged , , , | Leave a comment

Bankruptcy Cancels Debt Not Mortgage

Bankruptcy may cancel your debts and obligations, but secured lenders keep their debts alive in their mortgages and foreclosures may continue. Q: Due to my cancer diagnosis, and subsequent expenses, my wife and I filed bankruptcy in 2010. Just a …

Continue reading

Posted in Bankruptcy, Credit History, Foreclosure | Tagged , , , , | 1 Comment

Bankruptcy Discharge Of Mortgage Does Not Release Lien

Bankruptcy discharge of mortgageA Mortgage is a document granting a lien on a home in exchange for financing granted by a lender. The mortgage is the means by which the lender secures the loan and has the ability to foreclose …

Continue reading

Posted in Bankruptcy, Credit, Credit History | Tagged , , | 2 Comments

Have No Credit History After Living Abroad

If you now have no credit history after living abroad for some time, you need to work to build your credit history back in the US. Q: I am an American citizen who has lived the last 25 years in …

Continue reading

Posted in Credit, Credit History, Mortgage | Tagged , , , | Leave a comment

Credit Fraud or Identity Theft Suspected

Here are some steps you should take if you suspect credit fraud or identity theft with an elderly relative. Q: I have the power of attorneyPower of Attorney is the legal authorization given to an individual to act on behalf …

Continue reading

Posted in Credit, Credit History, Identity Theft | Tagged , | Leave a comment

New Year’s Financial Resolutions for 2012

We all should have New Year’s Financial resolutions to help guide us in 2012 and improve our financial health during these financial hard times. Are you tired of thinking about your finances? The Great Recession has had a lasting impact …

Continue reading

Posted in Credit Card Debt, Credit History, Personal Finance | Tagged , , | Leave a comment

Alternative Credit Report Available Now

For people without a credit history but a desire to build their credit, a new law allows you to create an alternative credit report and use that report in a credit applicationYour Application is a series of documents you must …

Continue reading

Posted in Bad Credit, Credit History, Personal Finance | Tagged , , | Leave a comment