A credit report will include credit accounts, public records, credit inquiries and any statements of dispute. You should check your credit history at least once a year to keep tabs on your finances and make sure no one has stolen your identity. Everyone is entitled to one free report a year from each of the three credit reporting agencies. (You can get your free credit report at AnnualCreditReport.com.) Learn more about what your credit report says about you.
Deed in Lieu On Credit Report
When a mortgage lender agrees to sell a property for less than it's worth and forgive the debt it could show up on the homeowner's credit report as a deed in lieu of foreclosure. Homeowners who own property that is worth less than their mortgage loan amounts may be good candidates for this type of solution. But it's important to remember that if the mortgage lender such as a credit union forgives the debt, the homeowner may have to pay a tax bill for phantom income or a deed in lieu on his credit report.
Real Estate Fraud Can Result In Credit Report Problems
Real estate fraud often results in problems with credit reports - even if the person was a victim of fraud. In some cases, the home owner benefits from the mortgage lender's attempt at real estate fraud, so the fraud may ruin her credit and credit report. Ilyce describes the problems real estate fraud can cause to a person's credit report.
Identity Theft Warning Signs
If you're worried about identity theft, there are ways you can protect yourself. And if you know the signs, you can stop identity theft sooner. One of the best ways to protect your identity is to order your credit report annually from annualcreditreport.com.
Credit Freeze Can Protect You From Identity Theft
It's become a little bit easier for you to protect yourself from identity theft. As of Nov. 1, 2007, all three credit bureaus, TransUnion, Equifax and...
Today on the Ilyce Glink Show
We're recapping some of the important business/financial news of the week, including Countrywide's stunning announcement that it's going to cut as man...
Signs Of A Turnaround?
Indymac Bank announced this afternoon that it is returning to the jumbo loan market. In other words, if you're in the market for a mortgage in excess ...
Deed In Lieu of Foreclosure Drops Credit Score
How does a deed in lieu of foreclosure affect someone's credit history and credit score? A foreclosure or a deed in lieu of a foreclosure are both considered highly negative for a credit score. Having a deed in lieu of foreclosure on a credit report will cause a credit score to fall and it may take up to seven years to drop off a credit report.
Identity Been Stolen? Here’s What To Do.
I've published this information before, but it's worth a refresher: ID Theft -- What to do if you're a victim Contact Experian, Equifax and Trans-Un...
Deed In Lieu Of Foreclosure Will Hurt Credit Rating
What are your options when you can no longer afford your mortgage and you haven't been able to sell your home? You may think you're facing foreclosure and a deed in lieu of foreclosure may be an option. Either a foreclosure or deed in lieu of foreclosure will hurt your credit rating or credit score. Another option, instead of a deed in lieu of foreclosure, may be a short sale.
Credit Card Balance Hurts Mortgage Applicants
Should you pay off credit card bills before applying for a mortgage? Lenders are used to seeing credit card balances, and they can adjust for them. What happens is that the lender adds up how much you can afford to spend each month on your mortgage, interest and taxes. Having a zero balance on credit cards will help your chances for getting a good rate on a mortgage.