Buying a home is an exciting milestone in life. However, navigating the homebuying process can feel overwhelming, especially when it comes to credit scores. You may be wondering, “Is a 678 credit score good enough to buy a house?” The short answer is – it depends. A credit score of 678 is considered good, but … Read more
When you owe money on your credit card, the people you owe must follow rules set out by law. Action can be taken against you to collect the debt but you have the chance to avoid this. Credit cards are covered by the Consumer Credit Act (CCA). Your lender may get a county court judgment … Read more
Credit Karma promises to provide you with your credit score and credit report for free. But is it giving you the same information that a lender will access if youre applying for a mortgage or a car loan? And for that matter, is it giving you anything that you cant get elsewhere? To answer those … Read more
Let lenders know that you may be a victim of fraud or you’re on active military duty, so they are encouraged to take extra steps to verify your identity before granting new credit. Placing a fraud alert or active duty alert is free. Depending on the alert type, if someone tries to get credit in … Read more
Having incorrect or inaccurate information on your credit report can negatively impact your credit score and make it harder to get approved for loans, mortgages, credit cards, and other financial products. If you find errors on your credit report, you have the right under the Fair Credit Reporting Act (FCRA) to dispute them with the … Read more
A FICO® ScoreÎ of 725 falls within a span of scores, from 670 to 739, that are categorized as Good. The average U.S. FICO® Score, 714, falls within the Good range. A large number of U.S. lenders consider consumers with Good FICO® Scores “acceptable” borrowers, which means they consider you eligible for a broad variety … Read more
Removing bankruptcies from your credit report can be tough, but some companies really shine at it. Lexington Law and Credit Saint stand out for their strong legal strategies and proven success. They offer personalized services to help you tackle this serious financial mark and aim to give you a fresh start. Bankruptcies can drastically affect … Read more
Your mortgage is undoubtedly one of your biggest and most important bills. Many mortgage companies include payments to the escrow payment with your mortgage, so you may not realize it’s there. For lenders that bill separately, you may have the option to put any money over the amount of your payment on either your escrow … Read more
A hardship withdrawal is an IRS approved removal of funds from a qualified retirement plan because of an “immediate and heavy financial need.” A hardship withdrawal allows you to take money out of your 401(k) or IRA before retirement age without the usual 10% early withdrawal penalty. However, these types of withdrawals are subject to … Read more
Does checking your credit score actually lower it? This is a common myth; checking your credit score does not have a negative impact on your score. In reality, checking your credit score can be an important step. Before we jump in, its important to know that there are many different credit scoring models, and your … Read more