Credit History

A credit history is your financial autobiography. It lists your name, current and previous addresses, phone number, Social Security number, date of birth, current and previous employers. It may also have your spouse’s name. It lists credit accounts, public records, credit inquiries and any statements of dispute. A good credit history can help you get the best terms on every financial transaction. Learn here how your credit history will affect you.

How FICO 9 could improve your credit score (if lenders actually use it)

Recently, FICO introduced a new scoring model that could potentially make a big impact on housing—if mortgage lenders ever use it. The FICO 9 score would limit the impact of paid medical collections on a consumer’s credit score, potentially lifting …

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Home Eviction on Credit Report: How to Remove It

If you have a home eviction on your credit report, knowing how to remove it is important. Ask for a copy of your report and look for mistakes. By: Ilyce Glink and Samuel Tamkin Q: I had a mortgage with …

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

Can a Loan Modification Hurt Your Credit Score?

Applying for a loan modification can affect your credit score while you wait for your loan application to be processed.  Q: Unfortunately, I am stuck with one of the worst monster mega banks for my loan modification. When I applied …

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Cancelling Credit Cards to get Cash Out Refinance

Excellent credit score, great credit history, plenty of equity, and yet lender wants borrower to cancel many of his credit cards to refinance. What gives? Q: I have a situation in my mortgage refinance process and need your advice. My …

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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 …

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Bankruptcy Discharge Of Mortgage Does Not Release Lien

Bankruptcy discharge of mortgage debt does not release lien on property and payments on mortgage loan may not benefit credit history. Q: We successfully signed a loan modification with our lender two years ago. It took forever to get the …

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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 …

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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 attorney for my grandmother who lives in Texas. I, however, live in Atlanta. I’ve input …

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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 …

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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 application. Q: In our local paper you stated that …

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