Loan Modifications & Credit - It’s All In The Code

April 13, 2010

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Just over a year ago, the Obama Administration’s $75 billion mortgage modification program went into effect, a response to the first year of “The Great Recession,” where nearly two million Americans lost their homes through foreclosure, short [...]

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Mortgage Defaults & How They Affect Credit (Updated)

April 6, 2010

“Is it better to file for bankruptcy or to be foreclosed?”
“What is a short sale and how can it affect my credit?”
“What about a Deed In Lieu of Foreclosure?
“What should I do?”
The recent economic crisis has paralyzed the hopes and futures of millions of homeowners who are now wondering how they will recover and rebuild [...]

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Credit Myths That Put Your Score At Risk

February 11, 2010

It seems everywhere you look, some program or Web site offers credit fixes, offers and deals that make it seem so easy to consolidate debt or, worse, get “easy credit” to buy the things you need. They offer “free credit analysis”-many of which will most likely lead you down a path of credit destruction. Most [...]

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Are You Credit Ready For 2010? A 10-Step Take Action Plan: Part One – Setting Your Score Goal

January 15, 2010

In an economy riddled with increased expenses and stringent credit standards, the businesses and households that will successfully navigate through the period of economic recovery will do so because their credit scores will get them access to credit and cash, empowering them to forge ahead and capture opportunity while those around them fold.
Great fortunes are [...]

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You May Qualify for the Tax Credit, But Is Your Credit Strong Enough to Qualify For the Home Loan?

December 1, 2009

The newly-enacted Worker, Homeownership And Business Assistance Act Of 2009 has extended the tax credit of up to $8,000 for qualified first-time home buyers. The tax credit now applies to purchases occurring on or after January 1, 2009 and on or before April 30, 2010.  And in cases where a binding sales contract is signed [...]

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Recent Changes in Credit Scoring and Reporting and How They Affect You - FICO 08

November 2, 2009

While the roots of the modern credit report can be traced all the way back to 1898, the numerical credit score wasn’t devised until the 1950s and didn’t become a major part of the American financial system until the last twenty years. In 1956, Bill Fair and Earl Isaac devised analytical tools that attempted to [...]

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