Mindy Leisure Director of Rescoring Services How Often Do Credit Scores Update? By Mindy Leisure The question is often asked, “should I pull my borrower’s credit report after the first of the month to see the most updated credit scores?” The assumption being that credit reports update during the first part of the month…actually this is far from accurate. Credit reports … Read more
There have been a lot of questions lately about installment loans and their importance to a credit profile. Such as: Does an installment loan help or hurt? How much do the balances on installment loans affect a score? What about the payment amount? Is that a factor that is considered? What happens when its paid … Read more
Short answer, the reason why your credit score is not increasing is something that you have probably never heard of called “Scorecard hopping.” Let’s say you have been working diligently to get a small medical collection deleted and you finally get the collection agency to write you a “pay for delete” letter. After a few … Read more
If you are thinking about purchasing a home or refinancing your existing home, your credit scores needs to be your number one priority right now. Given the uneasiness of today’s financial climate and the continuous volatility of the stock market, credit score requirements are increasing exponentially. While the entities that back most loans (Fannie, Freddie, … Read more
A Personal Note from Advantage Credit As the Manager of Rescore Services for Advantage Credit, along with having over 30 years of experience in mortgage and credit, I’ve written a great deal of original industry articles, with 99% of those covering something credit related. With everyone stressed, worried and frazzled right now, this article is … Read more
This is a very frequently asked question – It is possible to have a collection removed from a credit report? The best answer would be…sometimes. A lot depends on the type of collection, the amount of the collection and the policies of the collection agency. Technically, a collection will stay on a credit report (paid … Read more
The Truth About Trigger Leadsby Mindy Leisure The first step in obtaining a mortgage is always going through the application process. You found the broker you want to use and fill out all the paperwork. Then you go home to find half a dozen voicemails and emails from different brokers claiming they can offer you … Read more
There are certain decisions that people make when it comes to credit that seem like smart choices up front, but can in fact actually damage credit scores. Obviously, one of the best ways to obtain and keep a good credit score is to pay your bills on time. But that’s really just one small part, … Read more
Identity theft increases by seven percent during tax season from March through June. What is the primary source of this identity theft? Your mailbox. If you use “snail mail” to pay bills or receive checks you need to be aware, especially during this time of year. These identity thieves are not the high tech savvy … Read more
Credit scores can be confusing at best. There is a lot of information floating around about credit and scores that just simply aren’t correct. So let’s start out the year by de bunking some of the “myths” that I constantly get questions about. Opting out will help a credit score. No it won’t. The bureaus … Read more