Credit counseling is a term used to describe a variety of services offered to consumers who find themselves buried in credit card debt. Credit counseling is often used to describe both debt settlement and debt management programs offered by legitimate not-for-profit credit counselors. And while each is designed to get the consumer out of credit
Credit scores are used by lenders, insurance companies and service providers to determine whether or not they want to do business with you and under what terms. As with many complex financial topics, credit scoring is shrouded in secrecy and misunderstandings. Relax! We’ll help separate the truth from the tall tales.
What is a jumbo loan? In most parts of the U.S., “jumbo” means a mortgage larger than $417,000. In some high-cost areas like New York, the threshold is $625,000. This is not a limit on purchase price, but rather on the loan amount. So to buy a home for $500,000 with 20 percent down, a
The worst of the housing crisis seems to be behind us. (After all, the number of foreclosures continues to fall.) But it isn’t all good news just yet. What is a Short Sale? The most recent data from CoreLogic, a real-estate research firm, found that short sales (where a home is sold for less than
If you’re among the millions of Americans trying to boost their credit score, then the idea of piggybacking on someone else’s higher credit score might be tempting. If you have a spouse or family member with a good credit history who’s willing to add you to their credit card as an authorized user, that’s a
VantageScore Solutions, LLC recently announced the release of a new version of their core product, the VantageScore credit score. VantageScore 3.0 contains a variety of consumer friendly changes that could make it easier for consumers to be approved for loans at competitive rates and terms. The primary changes to their score and benefits to consumers
Buying a new car can be one of the most frustrating purchases in a consumer’s lifetime. While it’s not the biggest expense ever, negotiating with a car salesman can be a big enough headache that you’ll never want to do it again.
What does rejected mean, in terms of loans? Just because you have good credit doesn’t always mean you get approved for a loan. Even those with great credit can sometimes face getting rejected. The scenario goes like this: you have credit cards, you’re using them, you’re responsible, and then you see a new card or loan