Credit Scores

Credit scores play a big part in the mortgage world. Learn how you can make the most of your score to expand your options and snag the best rate.

Fico Explains Why Short Sales Hurt Your Credit Score

Fico Explains Why Short Sales Hurt Your Credit Score
September 25, 2012 No Comments »

There’s been a lot of confusion about short sales, especially with regard to how they affect one’s credit score. Plenty of people have recommended them as an alternative to foreclosure, even going as far as to say they can spare ... Read More »

Taking Out a Mortgage Can Help Your Credit Score

Taking Out a Mortgage Can Help Your Credit Score
August 22, 2012 No Comments »

If you’ve ever pulled your credit report and/or score, you may have noticed that the lack of a mortgage could actually be holding you back from credit score perfection. You may already have a seemingly great credit score, but the ... Read More »

Short Sale vs. Foreclosure: What’s the Credit Score Impact?

Short Sale vs. Foreclosure: What’s the Credit Score Impact?
May 30, 2012 3 Comments »

Mortgage match-up: “Foreclosure vs. short sale on your credit report.” It’s been a while since I’ve come up with a mortgage match-up, but there’s been a lot of fuss about short sales and credit scores lately, so I wanted to ... Read More »

Barely Any Mortgages Offered to Home Buyers With Credit Scores Below 620

Barely Any Mortgages Offered to Home Buyers With Credit Scores Below 620
November 14, 2011 No Comments »

The National Association of Realtors recently noted that home purchase contract failures have doubled, with 18 percent of NAR members reporting fallout in recent months. Put simply, a contract failure is a cancellation related to a declined mortgage application, a ... Read More »

A Mediocre Credit Score Will Cost You Big on Your Mortgage

A Mediocre Credit Score Will Cost You Big on Your Mortgage
October 11, 2011 No Comments »

While there are a number of factors that determine what mortgage interest rate you’ll qualify for, assuming you can indeed qualify for a mortgage, perhaps the most important one is credit score. Why? Well, for one, a credit score can ... Read More »

Bill Aims to Eliminate Loan Mod Credit Score Hit

July 26, 2010 No Comments »

A bill introduced by California Congresswoman Jackie Speier earlier this month aims to protect the credit scores of homeowners who accept loan modifications. Currently, even on-time modified mortgage payments are treated as “delinquent” or “incomplete” by the banks and mortgage ... Read More »

Mortgage Crisis Hurting Americans Credit Scores

September 14, 2009 No Comments »

As expected, all the ongoing mortgage crisis is hitting Americans’ credit scores, according to credit scoring company VantageScore Solutions. The company, which competes with the ever-powerful creator of the Fico score, told the LA Times millions of consumers have seen ... Read More »