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
Buying a house is often seen as an important milestone in life. However, for many people, the biggest barriers to homeownership are having no money for a down payment and no credit history. Is it possible to buy a house if you’re starting with nothing? While challenging, buying a house with no money and no … Read more
Most people’s financial needs evolve over time, and what worked at one point might not be the right fit later. A credit limit is one example of this — if you’ve had a card for a while, you might want to know how to increase your credit limit. Also known as a credit line, your … Read more
Its an age-old question we receive, and to answer it requires that we start with the basics: What is the definition of a credit score, anyway? Generally speaking, a credit score is a three-digit number ranging from 300 to 850. Credit scores are calculated using information in your credit report. Your payment history, the amount … Read more
There’s one key step you should take to boost your odds of landing your dream home: getting preapproved for a mortgage loan with a lender. If you do this, sellers will view you as a more attractive buyer. Sellers who receive multiple offers are more likely to choose buyers who are preapproved for a mortgage … Read more